Market Research Report: Hexagon's Physical Security Solutions (formerly Qognify)
Company Overview
Hexagon's Physical Security Solutions, previously known as Qognify, is a division of Hexagon AB, a global leader in digital reality solutions. This division specializes in providing comprehensive physical security solutions, including video management software (VMS) and physical security information management (PSIM) systems. These solutions cater to a diverse range of industries such as manufacturing, transportation, retail, education, finance, logistics, corrections, critical infrastructure, and government sectors.
Product Portfolio
In March 2025, Hexagon expanded and rebranded its physical security portfolio to HxGN dC3, which stands for Detect, Command, Control, and Collaborate. This rebranding reflects the company's holistic approach to incident management, aiming to minimize the impact of security events. The HxGN dC3 portfolio includes:
- HxGN dC3 LidarVision: Formerly known as Accur8vision, this AI-enhanced 3D surveillance system utilizes volumetric LiDAR detection technology to secure entire areas beyond traditional perimeter protection. It effectively tracks intrusions even in low light conditions and classifies objects using Hexagon’s proprietary AI neural network, DeepTection.
- HxGN dC3 Video: Previously Qognify VMS, this open-platform video management software offers advanced video analytics, forensic search capabilities, and centralized management for multi-site physical security systems.
- HxGN dC3 Orchestrator: Formerly Situator, this enterprise-class PSIM software integrates various security systems to provide a unified operational view, enhancing situational awareness and response efficiency.
Additionally, the HxGN dC3 portfolio integrates with other Hexagon solutions, such as HxGN OnCall Dispatch and HxGN Connect, to offer comprehensive security coverage from incident detection to resolution.
Market Position and Financials
Hexagon AB, the parent company, reported net sales of approximately €5.4 billion in 2022, with around 24,500 employees across 50 countries. The physical security solutions division contributes significantly to this revenue, serving thousands of customers worldwide.
Industry Overview
The global physical security market was valued at $127.01 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.8%, reaching $216.43 billion by 2030. This growth is driven by increasing security concerns, technological advancements, and the integration of AI and IoT in security systems.
Competitive Landscape
Hexagon's Physical Security Solutions operates in a competitive market alongside key players such as:
- Hangzhou Hikvision Digital Technology Co., Ltd.: A leading provider of video surveillance products and solutions.
- Honeywell International, Inc.: Offers a range of security solutions, including access control and video surveillance systems.
- Genetec Inc.: Specializes in unified security solutions, including VMS and access control.
- Cisco Systems Inc.: Provides networked physical security solutions.
- Axis Communications AB: Known for network cameras and video surveillance solutions.
Hexagon differentiates itself through its integrated approach, combining sensor, software, and autonomous technologies to deliver comprehensive security solutions.
Regional Insights
North America holds a significant share of the physical security market, driven by high adoption rates of advanced security technologies and the presence of major market players. In 2023, North America accounted for approximately 35% of the global market share. The region's focus on critical infrastructure protection and government initiatives to enhance public safety contribute to its market dominance.
Technological Integration
Hexagon's integration of AI, machine learning, and analytics into its physical security solutions enhances threat detection and response capabilities. For instance, the HxGN dC3 LidarVision system utilizes AI-enhanced 3D surveillance to provide comprehensive area security, surpassing traditional perimeter protection methods.
