[October 26, 2020]

Global Prison Management Systems Market | Emergence of Cloud-based Software to Boost the Market Growth | Technavio

The global prison management systems market size is poised to grow by USD 271.39 million during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Prison Management Systems Market 2020-2024 (Graphic: Business Wire)

Cloud-based prison management software provides numerous advantages compared to traditional software packages. It enables organizations to access data and services remotely through a web browser without the need for installing and managing the application software. It also has multiple advantages including minimal operational expenses, pay-as-you-go model, easy accessibility, reduced upfront cost, and shorter processing time. These advantages are driving the adoption of cloud-based solutions, which in turn, is expected to drive the prison management systems market growth during the forecast period.

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Report Highlights:

• The major prison management systems market growth came from the on-premise segment in 2019. However, the cloud-based prison management systems segment is expected to grow at a faster rate during the forecast period.
• North America was the largest prison management systems market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to increasing US prison population.
• The global prison management systems market is fragmented. Cisco (News - Alert) Systems Inc., Eagle Advantage Solutions Inc., International Business Machines Corp., M2SYS Technology, Montgomery Technology Inc., Motorola Solutions Inc., Serco Group Plc, Sun Ridge Systems Inc., Syscon Justice Systems, and Tyler Technologies (News - Alert) Inc. are some of the major market participants. To help clients impove their market position, this prison management systems market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global prison management systems market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rising Availability of Information on Social Media will be a Key Market Trend

Social media tools scan platforms such as Facebook, Twitter (News - Alert), and Instagram to collect information, which can be used by police departments to curb criminal activities. Accessing data in real-time is important for law enforcement officials as it provides actionable insights, allowing police departments and law enforcement officials to make quicker decisions. Modern prison management systems take advantage of smart maps, visualized information, and location analytics that empower the frontline officers and commanders with better decision making. Prison management systems integrate every data type and apply advanced analytic tools to predict and solve the crime and thus protect citizens. Hence, the increasing availability of information on social media is expected to be a key trend in the market.

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Prison Management Systems Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist prison management systems market growth during the next five years
• Estimation of the prison management systems market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the prison management systems market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of prison management systems market vendors

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Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment
• On-premise - Market size and forecast 2019-2024
• Cloud-based - Market size and forecast 2019-2024
• Market opportunity by Deployment

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview

Landscape disruption

• Vendor Analysis
• Vendors covered
• Market positioning of vendors
• Cisco Systems (News - Alert) Inc.
• Eagle Advantage Solutions Inc.
• International Business Machines Corp.
• M2SYS Technology
• Montgomery Technology Inc.
• Motorola (News - Alert) Solutions Inc.
• Serco Group Plc
• Sun Ridge Systems Inc.
• Syscon Justice Systems
• Tyler Technologies Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology

List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201026005607/en/

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