Latest News- Physical Security Information Management (PSIM) Market: PE and U is expected to lead the End-user segment during 2025-2029

The Physical Security Information Management (PSIM) Market is being driven by Emergence of smart cities

The Physical Security Information Management (PSIM) Market is expected to grow at a CAGR of 27.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6546 million. The Internet of Things (IoT) is a revolutionary technology that connects physical objects to the Internet, enabling real-time data collection and analysis from a vast array of interconnected devices. In the realm of physical security, IoT is transforming wireless video surveillance by allowing instant transmission of footage to devices over wireless networks. This technology's adoption is escalating due to the growing demand for enhancing the efficiency of critical infrastructure facilities such as waste management plants, energy plants, and water management systems. IoT-based physical security solutions offer immediate responses to real-time decision-making, thereby bolstering overall security and operational excellence. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • PE and U
  • Transportation
  • Commercial
  • Government and defense
  • Others
• Solution
  • Software
  • Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Emergence of smart cities
• Need to mitigate criminal activities and terrorist attacks
• Regulatory compliance

However, the market also witnesses some limitations, which are as follows:

• Infrastructural requirements
• System integration and interoperability issues
• Networking and connectivity issues associated with cloud-based PSIM

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Market Scope in Physical Security Information Management (PSIM) Market Research Report

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Research Analysis Overview

The Physical Security Information Management (PSIM) market is experiencing significant growth due to the increasing need for advanced security solutions. Key trends include awareness training, intelligent video surveillance, and cloud-based systems. Infrastructure modernization, automation and orchestration, and physical integration are prioritized for budget optimization. Unified platforms offer threat intelligence, incident response, and integration with perimeter security, access control systems, and intrusion detection. Vendor selection, smart city applications, data analytics, system integration services, monitoring, incident management, best practices, data management, and compliance are also important considerations. Governance, budget, and vulnerability management are key areas for automation, while procedural and procedural compliance are ensured through threat intelligence and physical audit.

Market Research Overview

The Physical Security Information Management (PSIM) market is a segment of the broader global application software industry, focusing on cloud-based solutions for managing security threats in smart cities. This market caters to businesses and organizations seeking integrated access solutions to mitigate urbanization-related risks, including terrorism and other security concerns. Technavio's market analysis encompasses companies providing PSIM software, which integrates various security systems to enhance situational awareness and improve response times. These companies contribute to the application software market, a sub-segment of the IT software industry, which generates revenue from developing and producing software for specialized business applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/