2025-2034 Physical Security Information Management (PSIM) Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Physical Security Information Management (PSIM) Market Through 2025?
The market size of physical security information management (PSIM) has expanded quickly in the past few years. The market will see a leap from $1.7 billion in 2024 to $1.97 billion in 2025, owing to a compound annual growth rate (CAGR) of 15.9%. The substantial growth seen in the previous period is due to the rising necessity for security integration, escalating security threats, regulatory compliance, safeguarding of critical infrastructure, and the need for operational efficiency.

What's the Projected Size of the Global Physical Security Information Management (PSIM) Market by 2029?
In the coming years, the market size of physical security information management (PSIM) is expected to surge significantly. A growth rate of 17.3% compound annual growth rate (CAGR) is projected, which will cause it to expand to "$3.74 billion by 2029. This increase during the forecast period can be linked to a surge in cybersecurity risks, initiatives towards IoT and smart cities, worldwide urbanisation patterns, emphasis on incident reactions and resilience, and company risk management tactics. The forecast period will be marked by considerable trends, including: integration with third-party systems, introduction of cybersecurity steps for PSIM platforms, the ability to scale and provide modular solutions, automation in incident response and a concentrated effort on user training and education.

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Top Growth Drivers in the Physical Security Information Management (PSIM) Industry: What's Accelerating the Market?
The rise in cybercrime instances serves as a catalyst for the expansion of the physical security information management (PSIM) market in the future. Cybercrime encompasses unlawful online or computer-based acts such as credit card sca*ms, phishing, and infestation of systems and networks. PSIM aids in the enhancement and protection of these vital networked systems to mitigate cybercrime and deliver security solutions to its clients. As an example, the 2023 ASD Cyber Threat Report by the Australian Signals Directorate, an Australian federal agency, revealed in November 2023 that ReportCyber acknowledged nearly 94,000 cybercrime reports in the 2022-23 fiscal year. This represents a 23% rise from the previous year. For this reason, the surge in cybercrime occurrences is fuelling the ascension of the physical security information management (PSIM) market.

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What Trends Will Shape the Physical Security Information Management (PSIM) Market Through 2029 and Beyond?
IoT advancements are driving innovation in the physical security information management (PSIM) market. In March 2023, Germany-based Advancis launched WinGuard X5 and the Advanced Identity Manager (AIM). WinGuard integrates various security systems into one interface, while AIM combines identification and biometrics systems into a centralized identity platform, with mobile and IoT connectivity.

What Are the Main Segments in the Physical Security Information Management (PSIM) Market?
The physical security information management (PSIM) market covered in this report 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

Subsegments:
1) By Access Control Systems: Key Card Access Systems, Biometric Access Control Systems, Mobile Access Control Solutions, Electronic Locks
2) By Electronic Article Surveillance: RFID-Based EAS Systems, Acousto-Magnetic EAS Systems, Electro-Magnetic EAS Systems
3) By Fire Detection Systems: Smoke Detectors, Heat Detectors, Flame Detectors, Fire Alarm Systems
4) By Intrusion Detection Systems: Motion Sensors, Window and Door Sensors, Glass Break Sensors, Video Surveillance Systems
5) By Computer Aided Dispatch Systems: CAD Software for Public Safety, Emergency Response Management Software, Resource Management Systems
6) By Other Types: Video Management Systems (VMS), Perimeter Security Systems, Environmental Monitoring Systems, Integration Platforms

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Which Top Companies are Driving Growth in the Physical Security Information Management (PSIM) Market?
Major companies operating in the physical security information management (PSIM) market include CNL Software Ltd., Genetec Inc., VidSys Inc., Verint Systems Inc., NICE Systems Ltd., Johnson Controls International plc, Prysm Software Limited, AxxonSoft Limited, Milestone Systems A/S, Hexagon AB, Advancis Software & Services GmbH, VideoNEXT Network Solutions Inc., KapLogic Corporation, Everbridge Inc., Octopus System Pvt. Ltd., Qognify Inc., Kova Corporation, Pelco Incorporated, ASCVid Holdings LLC, Access Control Technologies, Mindtree Limited, Tyco Security Products, Quantum Secure Inc., Intergraph Corporation, Honeywell Security Group, Maxxess Systems Inc., Bosch Security Systems, Salient Systems Private Limited, Dahua Technology Co. Ltd., Proximex Corporation

Which Regions Will Dominate the Physical Security Information Management (PSIM) Market Through 2029?
Europe was the largest region in the physical security information management (PSIM) market in 2024.Asia-Pacific region is expected to be the fastest-growing region in the global physical security information management (PSIM) market report during the forecast period. The regions covered in the physical security information management (PSIM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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