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2023 Physical Security Information Management (PSIM) Market Growth, Segmentation, Industry Analysis 2032
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Physical Security Information Management (PSIM) Global Market Report 2023 identifies increasing instances of cybercrime as the major driver for the Physical Security Information Management (PSIM) market's growth in the forecast period. Cybercrime refers to criminal activities such as credit card fraud, phishing, and infecting systems and networks that are conducted over the internet or through computer systems. Physical security information management (PSIM) helps to advance, safeguard these crucial networked systems, and prevent cybercrime to provide security solutions to customers. For instance, in 2022, according to the Federal Bureau of Investigation, a US-based domestic intelligence and security service, in the Internet crime report of 2022 for the year 2020, there were 791,790 cybercrime complaints registered with a $4.2 billion total loss.
The global physical security information management (PSIM) market size is expected to grow from $1.26 billion in 2022 to $1.48 billion in 2023 at a compound annual growth rate (CAGR) of 17.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global physical security information management (PSIM) market size is expected to reach $2.72 billion in 2027 at a CAGR of 16.4%.
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Major competitors in the Physical Security Information Management (PSIM) market are CNL Software Ltd., Genetec Inc., VidSys Inc., Verint Systems Inc., NICE Systems Ltd., Johnson Controls International PLC.
A key trend in the Physical Security Information Management (PSIM) market includes Advancements in the Internet of Things (IoT). Companies operating in the physical security information management (PSIM) market are adopting advancements in the Internet of Things (IoT) to sustain their position in the market. For instance, in March 2023, Advancis, a Germany-based innovative physical security information management (PSIM) company, launched WinGuard X5, a PSIM software, and Advanced Identity Manager, called the AIM product. Winguards X5 is a piece of software called an Open Integration Platform that connects several unrelated security systems and allows users to operate them from a single user interface. It's also frequently referred to as a PSIM, or security and building management system.
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The Physical Security Information Management (PSIM) market is segmented -
1) By Type: Access Control Systems, Electronic Article Surveillance, Fire Detection Systems, Intrusion Detection Systems, Computer Aided Dispatch Systems, Other Types
2) By Deployment Mode: Cloud Based, On-Premises
3) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Energy And Utilities, Government And Defense, Transportation And Logistics, Retail, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Physical Security Information Management (PSIM) market.
The Business Research Company's "Global Physical Security Information Management (PSIM) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Physical Security Information Management (PSIM) Market Include:
1. Executive Summary
2. Physical Security Information Management (PSIM) Market Characteristics
3. Physical Security Information Management (PSIM) Market Trends And Strategies
4. Physical Security Information Management (PSIM) Market - Macro Economic Scenario
5. Physical Security Information Management (PSIM) Market Size And Growth
……
27. Physical Security Information Management (PSIM) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Physical Security Information Management (PSIM) Market
29. Physical Security Information Management (PSIM) Market Future Outlook and Potential Analysis
30. Appendix
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