Europe Physical Security Information Management (PSIM) Market Size, Share & Trends Analysis Report By Offering, By Organization Size, By Deployment Mode, By Vertical, By Country and Growth Forecast, 2024 - 2031

Europe Physical Security Information Management (PSIM) Market Size, Share & Trends Analysis Report By Offering, By Organization Size, By Deployment Mode, By Vertical, By Country and Growth Forecast, 2024 - 2031

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 %.

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.

List of Key Companies Profiled

• Hexagon AB
• Honeywell International, Inc.
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Everbridge, Inc.
• AxxonSoft
• Genetec, Inc.
• Advancis Software & Services GmbH
• Entelec Control Systems
• Verint Systems, Inc.
• Prysm Software (Vitaprotech group)

Europe Physical Security Information Management (PSIM) Market Report Segmentation

By Offering

• Software
• Video Management
• Access Control
• Fire Safety & Alarms
• Intrusion Detection Management
• GIS Mapping System
• HVAC
• Services

By Organization Size

• Large Enterprises
• SMEs

By Deployment Mode

• Cloud
• On-Premises

By Vertical

• BFSI
• Government
• IT & ITeS
• Healthcare
• Transportation & Logistics
• Residential
• Retail & eCommerce
• Others

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe