The Europe Physical Security Information Management (PSIM) Market would witness market growth of 14.1% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Physical Security Information Management (PSIM) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $272.8 million by 2031. The UK market is exhibiting a CAGR of 13.1% during (2024 - 2031). Additionally, The France market would experience a CAGR of 15% during (2024 - 2031).
PSIM solutions integrate data from various sources, such as video surveillance cameras, access control systems, intrusion detection sensors, fire alarms, and environmental sensors. This integration gives security personnel a unified view of the entire security infrastructure, facilitating more efficient monitoring and management of security events.
Moreover, PSIM platforms play a crucial role in incident detection and response by providing real-time alerts and notifications to security operators. Through intelligent analytics and event correlation algorithms, PSIM systems can automatically identify potential security threats or anomalies and alert the appropriate personnel for further investigation and response.
With the growth of the ICT sector in Europe, there's a greater emphasis on integrating various technologies and systems. This integration can lead to the convergence of physical security systems with ICT infrastructure, creating opportunities for PSIM solutions to manage and streamline diverse security platforms. According to Eurostat, in 2021, the value added by the EU's ICT sector was equivalent to 5.5 % of GDP. Between 2011 and 2021, the value added by ICT services in the EU grew each year and increased by 71.1 %, while the value added by ICT manufacturing increased by 28.4 %.
Free Valuable Insights: The Global Physical Security Information Management (PSIM) Market will Hit USD 4.7 Billion by 2031, at a CAGR of 14.6%
Based on Offering, the market is segmented into Software (Video Management, Access Control, Fire Safety & Alarms, Intrusion Detection Management, GIS Mapping System, and HVAC), and Services. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on Vertical, the market is segmented into BFSI, Government, IT & ITeS, Healthcare, Transportation & Logistics, Residential, Retail & eCommerce, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Offering
By Organization Size
By Deployment Mode
By Vertical
By Country
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