Growing demand for PSIM solutions and software is driving the growth of this market. Growing smart city programs and centralized control systems are driving adoption of PSIM software and services. Businesses are also focusing on enhancing incident management and situational awareness. North America dominates the global PSIM market, with the largest share. Emerging countries like India, China, and Brazil are also gaining momentum in this market. To counter the increasing threats posed by cyber crime, PSIM solutions are proving to be extremely effective.
The market for PSIM solutions is highly segmented by type and application.
The services segment is expected to grow at the highest CAGR, driven by increasing adoption of analytics-as-a-service and consulting services. The market for PSIM solutions is expected to remain competitive throughout the forecast period, owing to growing demand for integrated security solutions. Advancis, for example, is expanding its activities in Scandinavia by opening a new office in Stockholm.
The report includes an in-depth analysis of the Global Physical Security Information Management Market, including a discussion of the key players and their strategies. The report covers the Americas, EMEA, and APAC regions, and presents the market landscape. The report also discusses the role of third-party vendors, city surveillance projects, and smart city projects. The report also includes an analysis of the impact of microeconomic factors on the market.
Advanced video management technology leverages AI to track people and vehicles, and allows security teams to run queries based on their physical description and appearance. Better cameras are being introduced into the market each year, and their increased volume of data and bandwidth load puts massive strain on internal IT systems. By using sophisticated video management technology, security teams can monitor their data centers, factory floors, warehouse shelves, and loading docks. It is important for IT leaders to consider the impact on their infrastructure, network, and storage systems when selecting the best security solution for their business.
The German government is investing heavily in a smart city and smart transportation project.
Internet of Things platforms help cities monitor their infrastructures and help them with critical service management. Smart data helps to make longer-term planning decisions. Vendors in this market will have immense opportunities as they leverage these initiatives to protect the community and increase its overall security. These initiatives will drive growth in the Asia Pacific PSIM market. For this reason, smart city projects are one of the key growth drivers of the market.
A typical physical security program involves multiple layers of protection, which become more difficult to penetrate the closer the asset is. Each layer of protection has its own controls and processes to prevent, detect, delay, and defend against loss. Physical security includes organizational controls, including personnel management and policies. Physical barriers and controls include access control equipment. Integrated access control systems also include reporting and records management processes. These measures ensure that employees are aware of their surroundings, which reduce the risk of theft and unauthorized access.