Physical Security Information Management (PSIM) Market estimated to be valued US$ 452.5 Mn in 2022 and poised to grow at significant CAGR of 15.1% over 2023-2029. Increasing government initiatives for smart cities, growing demand for centralized control systems, rising adoption of PSIM in various end-use sectors and surging demand for sophisticated organizational security are some key factors fostering the market growth. However, high cost of deployment & integration and rising penetration of rival software solutions are the factors inhibiting the market growth. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global physical security information management (PSIM) products. Global market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in May 2019, Evoteq partnered with Johnson Controls to introduce an end-to-end integrated Artificial Intelligence platform to create smart buildings and districts.
Fastest Growing Market
Physical Security Information Management or simply PSIM is a comparatively novel technology allowing companies to streamline, automate, and measure security tasks and workflows to upsurge operational efficiency and reduce ongoing security costs. It can help banks address many types of security threats and operational issues more effectively and efficiently. PSIM in use for traffic management integrated control room technology using physical security information management technology can help traffic run more smoothly in complex urban environments. Beyond the time-saving and efficiency benefits of automation, it enables modern business processes that are essential to any modern security department. PSIM is also used in government and defense, industrial manufacturing, healthcare, IT and Telecom, energy and utility and other end users industries and hence increases the demand for the market.
Middle East and Africa (MEA)
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.