PUBLISHER: The Business Research Company | PRODUCT CODE: 1668504
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668504
Physical Security Information Management (PSIM) denotes a software platform consolidating and overseeing multiple security systems and devices through a unified interface. Its purpose is to heighten situational awareness, refine incident response, and streamline security operations, particularly in intricate environments.
The primary types of Physical Security Information Management (PSIM) encompass access control systems, electronic article surveillance, fire detection systems, intrusion detection systems, computer-aided dispatch systems, and other similar systems. Access control systems specifically manage and govern entry to physical spaces or resources within an organization. These systems are deployed through various modes such as cloud-based or on-premises setups, catering to diverse industry verticals including banking, financial services and insurance (BFSI), energy and utilities, government and defense, transportation and logistics, retail, among others.
The physical security information management (PSIM) market research report is one of a series of new reports from The Business Research Company that provides physical security information management (PSIM) market statistics, including physical security information management (PSIM) industry global market size, regional shares, competitors with a physical security information management (PSIM) market share, detailed physical security information management (PSIM) market segments, market trends and opportunities, and any further data you may need to thrive in the physical security information management (PSIM) industry. This physical security information management (PSIM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The physical security information management (PSIM) market size has grown rapidly in recent years. It will grow from$1.7 billion in 2024 to $1.97 billion in 2025 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to security integration needs, increased security threats, regulatory compliance, critical infrastructure protection, and operational efficiency
The physical security information management (PSIM) market size is expected to see rapid growth in the next few years. It will grow to $3.74 billion in 2029 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to rising cybersecurity threats, IoT and smart city initiatives, global urbanization trends, focus on incident response and resilience, and enterprise risk management. Major trends in the forecast period include collaboration with third-party systems, cybersecurity measures for PSIM platforms, scalability and modular solutions, incident response automation, and focus on user training and education.
The rising incidence of cybercrime is anticipated to drive the growth of the physical security information management (PSIM) market in the coming years. Cybercrime encompasses criminal activities such as credit card fraud, phishing, and the infiltration of systems and networks via the Internet or computer systems. PSIM plays a crucial role in enhancing and protecting these vital networked systems, helping to prevent cybercrime and providing security solutions for clients. For example, in November 2023, the 2023 ASD Cyber Threat Report from the Australian Signals Directorate, a federal agency in Australia, revealed that ReportCyber received nearly 94,000 reports of cybercrime during the 2022-23 financial year, reflecting a 23% increase compared to the previous year. Consequently, the rise in cybercrime incidents is driving the growth of the PSIM market.
The burgeoning trend of smart cities is anticipated to propel the expansion of the Physical Security Information Management (PSIM) market. Smart cities integrate technology and data to enhance urban efficiency and residents' quality of life. PSIM is instrumental in these cities by consolidating and analyzing data from diverse security systems for swift responses, bolstering situational awareness, and ensuring a coordinated security approach, thereby augmenting overall safety and emergency management. For instance, in 2023, the IMD Smart City Index Report noted an almost 20% increase in smart city coverage, totaling 141 smart cities. Hence, the rise of smart cities is a driving force behind the growth of the PSIM market.
Advancements in the Internet of Things (IoT) constitute a significant trend gaining traction in the Physical Security Information Management (PSIM) market. Companies within this domain are embracing IoT advancements to fortify their market positions. For example, in March 2023, Advancis unveiled WinGuard X5, a PSIM software, and the Advanced Identity Manager (AIM) product. WinGuard X5, an Open Integration Platform, unifies disparate security systems for operation via a single interface. AIM integrates existing IT and access control systems, streamlining identity management. Major players in the PSIM market are leveraging IoT to connect various technologies across domains, offering cost-effective monitoring and integration of access control systems on mobile devices.
Leading companies in the physical security information management (PSIM) market are concentrating on developing innovative solutions, such as PSIM software, to enhance safety and operational efficiency. PSIM software encompasses integrated systems that gather, analyze, and manage security data from various sources, allowing organizations to improve their security operations and respond effectively to incidents. For example, in March 2023, Advancis Software & Services GmbH, a software company based in Germany, launched WinGuard X5 and the Advanced Identity Manager (AIM). WinGuard X5 is an integrated security management solution designed to improve operational efficiency and safety by offering advanced monitoring and control capabilities. Meanwhile, AIM focuses on managing user identities and access rights, ensuring secure and compliant handling of sensitive information.
In December 2022, HEXAGON AB, a Swedish IT solutions company, completed the acquisition of Qognify for an undisclosed sum. This strategic move broadens their scope in physical security solutions across public safety, infrastructure, and transportation sectors, presenting fresh avenues for real-time monitoring and security enhancement. Qognify, a US-based entity, specializes in big data solutions for physical security, notably offering Physical Security Information Management (PSIM) software.
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
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
The countries covered in the physical security information management (psim) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The physical security information management (PSIM) market includes revenues earned by entities by providing security systems maintenance, audio and video analysis, and access control systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The physical security information management (PSIM) market consists of sales of independent security devices, controllers, and modules. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Physical Security Information Management (PSIM) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on physical security information management (psim) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for physical security information management (psim) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The physical security information management (psim) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.