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Physical Security Information Management (PSIM) Market worth $4.3 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 9, 2024 /PRNewswire/ — The Physical Security Information Management (PSIM) Market will grow in the future due to increased emphasis on cybersecurity measures, expansion into broader use cases beyond traditional security, and integration with emerging technologies like AI and IoT. Growth in the market will also be fueled by cloud-based solutions, improved user interfaces, and compatibility with other systems, especially in developing nations where infrastructure development is concomitant with growing security concerns.

The global Physical Security Information Management Market size is projected to grow from USD 3.5 billion in 2024 to USD 4.3 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period, according to a new report by MarketsandMarkets™. The integration of cloud-based solutions and advanced technologies like AI, ML, and blockchain has propelled the rapid growth of PSIM adoption. Cloud-based PSIM solutions offer remote accessibility and cost reductions, while AI, ML, and blockchain integration automate processes, enhance threat detection, and secure data exchange. These combined advancements in PSIM systems cater to organizations’ demands for scalable, cost-effective, and efficient security solutions, driving significant expansion in the PSIM market.
Browse in-depth TOC on ” Physical Security Information Management (PSIM) Market”
350 – Tables 50 – Figures300 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2020-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion) 
Segments Covered
Offering, Software Type, Deployment Mode, Organization Size, Vertical, And Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America 
Companies covered
Major vendors in the global Physical Security Information Management Market include Hexagon AB (Sweden), Honeywell (US), Hikvision (China), Everbridge (US), Axxonsoft (Ireland), Genetec (Canada), Advancis (Germany), Entelec (Belgium), Verint (US), Vidsys (US), Nanodems (US), Eagle Eye Networks (US), Bold Group (US), Primion (Germany), Persistent Sentinel (US), Prysm Software (France), SureView Systems (US), easypsim (Switzerland), Veracity Solutions (Scotland), AARMTech (India), Octopus (Israel), Network Harbor (US), Fast Systems (Switzerland), Integrated Security Systems (ISS) (US), and Gretsch-Unitas Deutschland (Germany). 
Based on the organization size, SMEs are to grow at the highest CAGR during the forecast period.
The exponential growth of SMEs in the PSIM market is attributed to the escalating recognition of the critical importance of robust security measures to combat cyber threats. With nearly 43% of cyber-attacks targeting SMBs, the imperative for effective security solutions among smaller enterprises is evident. However, SMEs often encounter budget constraints and resource limitations, heightening vulnerability to security breaches. Consequently, investing in tailored PSIM solutions has become a priority. These solutions, encompassing video surveillance, access control, and alarm management, empower SMEs to monitor and respond to security incidents efficiently. Moreover, the affordability, scalability, and ease of deployment of cloud-based PSIM options are particularly appealing to SMEs. By embracing PSIM technologies, SMEs bolster their security posture, mitigate cyber risks, and safeguard assets and operations against evolving threats in today’s digital landscape.
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By software type, video management accounts for the highest market size during the forecast period.
The video management software type holds the largest market share in the PSIM market due to its indispensable role in modern security systems. With the proliferation of CCTV cameras globally, there’s a heightened demand for VMS solutions to handle and manage footage from numerous cameras efficiently. VMS systems are renowned for their open-platform design, enabling seamless integration of various camera types and brands and advanced features like motion detection and video analytics. When integrated with PSIM software, VMS delivers multiple benefits, including real-time video feed monitoring from multiple cameras and automation of video management processes. Leading companies such as ISS provide PSIM software with integrated video management capabilities, offering organizations enhanced security intelligence and operational efficiency through centralized management of video surveillance systems. This convergence of technology ensures robust protection for organizations and their assets, driving the dominance of video management software in the PSIM market.
By region, Asia Pacific is to grow at the highest CAGR during the forecast period.
The Asia Pacific region is growing at the fastest rate in the PSIM market due to several key factors driving the demand for integrated security solutions. Rapid economic growth and technological advancements, particularly in IoT proliferation and smart city initiatives, necessitate efficient management of diverse security systems, prompting the adoption of PSIM. Moreover, substantial government investments in critical infrastructure projects further underscore the need for comprehensive security solutions like PSIM to safeguard valuable assets effectively. The increasing awareness among organizations about the benefits of PSIM in managing complex security environments is fueling its adoption across various sectors, including transportation, energy, and public safety. These factors collectively contribute to the rapid growth of the PSIM market in the Asia Pacific region, positioning it as a frontrunner in the adoption of integrated security solutions.
Top Key Companies in Physical Security Information Management (PSIM) Market:
Hexagon AB (Sweden), Honeywell (US), Hikvision (China), Everbridge (US), Axxonsoft (Ireland), Genetec (Canada), Advancis (Germany), Entelec (Belgium), Verint (US), Vidsys (US), Nanodems (US), Eagle Eye Networks (US), Bold Group (US), Primion (Germany), Persistent Sentinel (US), Prysm Software (France), SureView Systems (US), easypsim (Switzerland), Veracity Solutions (Scotland), AARMTech (India), Octopus (Israel), Network Harbor (US), Fast Systems (Switzerland), Integrated Security Systems (ISS) (US), and Gretsch-Unitas Deutschland (Germany) are the key players and other players in the Physical Security Information Management Market.
Recent Developments
In December 2023, Genetec announced a new version of its flagship unified security platform, Security Center, embracing a continuous delivery model for rapid innovation. Enhancements included new mapping features for smoother operator experiences in large deployments and simplified authentication setup, setting the stage for advanced workflow capabilities to streamline system management.In November 2023, Hikvision introduced HikCentral Professional 2.5, an upgraded integrated security management software. This release offers versatile add-on applications through the App Market, expanding functionalities for diverse business needs. The software enhances operational efficiency with simplified operations, user-friendly interfaces, and strong integration capabilities using OpenAPIs for seamless system integration and third-party device management.In March 2023, Advancis introduced WinGuard X5, a vendor-neutral PSIM software featuring a new core and advanced capabilities. Built on the Advancis Open Platform (AOP), it supports third-party development for customized interfaces and functions. This release empowered users to scale deployments flexibly and extend functionalities with modern APIs.In September 2022, AxxonSoft introduced Axxon PSIM version 1.0, a comprehensive software platform integrating video surveillance, AI video analytics, access control, fire/security alarm systems, and industry-specific solutions. This modular PSIM enables tailored security solutions, selecting required modules for site-specific needs, offering integration with diverse security devices and protocols, and supporting limitless scalability and reliability for large-scale deployments.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=133712085
Physical Security Information Management (PSIM) Market Advantages:
A centralised management interface can be created by integrating several security systems, including video surveillance, access control, intrusion detection, and fire alarms, using PSIM platforms’ extensive integration capabilities.Operators can improve their situational awareness with the use of PSIM systems, which offer real-time monitoring and analysis of security incidents. PSIM systems enable quick decision-making and provide a comprehensive picture of security issues by combining data from many sources.The incident response processes are made more efficient by PSIM platforms’ sophisticated automation and workflow management features. By effectively prioritising and managing warnings, operators can minimise the impact of security threats and reduce reaction times.PSIM solutions are made to grow with businesses, adapting to shifting demands in terms of operations, infrastructure, and security specifications. They provide customisation and setup flexibility to accommodate different security protocols and environments.Through the facilitation of communication and information exchange, PSIM systems encourage cooperation between departments, external stakeholders, and security personnel. Coordination of reactions to security crises is made possible by integrated communication solutions, which promote efficiency and teamwork.PSIM platforms offer audit trails, reporting features, and documentation capabilities to assist organisations in meeting regulatory requirements. They reduce legal and financial risks by allowing organisations to prove compliance with security requirements and legislation.Long-term cost benefits are achieved by PSIM systems through the centralization of security operations and resource utilisation optimisation. They reduce the need for duplicate systems, lessen the requirement for manual intervention, and improve operational effectiveness, all of which lower total costs.Report Objectives
To define, describe, and forecast the Physical Security Information Management Market based on – offering, software type, deployment organization size, vertical, and region.To define, describe, and forecast the Physical Security Information Management Market by – offering, software type, deployment organization size, vertical, and region.To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin AmericaTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Physical Security Information Management Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Physical Security Information Management Market.To profile the key players of the Physical Security Information Management Market and comprehensively analyze their market size and core competencies in the market.To track and analyze competitive developments, such as new product launches, mergers and acquisitions, and partnerships, agreements, and collaborations in the global Physical Security Information Management Market.Browse Adjacent Market: Information Security Market Research Reports & Consulting
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Optellum showcases AI for precision lung cancer treatment at ASCO 2024

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OXFORD, United Kingdom, May 30, 2024 /PRNewswire/ — Optellum, a global leader in AI-driven clinical decision support for early lung cancer diagnosis, has launched its multimodal therapy AI guidance platform for life science research. The novel AI software and scientific results, showing potential to optimize curative lung cancer treatment, will be showcased for the first time at the 2024 ASCO Annual Meeting in Chicago (31 May—4 June).

Lung cancer often shows no symptoms until it reaches an advanced stage, leaving patients with limited treatment options and less favorable outcomes. However, by continuous automated analysis of the 90 million CT scans US patients receive yearly, it may be possible to create an “early detection system”. Optellum Virtual Nodule Clinic, the first FDA-cleared decision support for early-stage lung cancer, integrates a Patient Discovery AI based on Natural Language Processing with a clinically validated Lung Cancer Prediction (LCP) score based on imaging AI/Radiomics. The combination assists clinicians in identifying at-risk patients across health systems and prioritizing them for follow-up interventions.
Early diagnosis offers patients curative treatment options. Unfortunately, some 30% to 60% of Stage I-II NSCLC patients will experience recurrence after surgery. Accurate prognosis of recurrence risk could enable thoracic oncology teams to optimize treatment early, for example, to tailor the extent of surgical resection and ensure neo-adjuvant and peri-operative treatments are offered to those at risk. To drug developers, it may enable risk-stratifying populations to increase treatment rates, expand indications to earlier stages, and predict treatment response.
Optellum will showcase their precision lung cancer care AI solutions at the American Society for Clinical Oncology (ASCO) 2024 Annual Meeting. In the ASCO scientific program (Poster Session, 3rd June, 1:30 pm), Optellum’s clinical partners will present results of AI-guided recurrence prognosis in Stage I-III NSCLC from multi-modal pre-surgical data (Abstract #8066 1) showing significantly increased sensitivity for recurrence compared to staging. The Optellum AI solutions will also be demoed at the CancerLinQ booth (#14013) and ConcertAI booth (#12045).
Christine D. Berg, M.D., the co-principal investigator of the National Lung Screening Trial (NLST) at the National Cancer Institute, which paved the way for lung cancer screening implementation, commented: “The accurate determination of prognosis drives treatment decisions in oncology. Radiomic tools combined with demographics, as shown by Optellum, can be an effective non-invasive technology to optimize decision making early in the patient’s journey, which may help to improve outcomes.”
“Our multi-modal AI platform aims to become the ‘operating system’ that guides precision lung cancer care across the patient journey, from early identification to predicting response and monitoring,” said Václav Potěšil, PhD, Founder & Chief Business Officer at Optellum. “Neo-adjuvant therapies are real game changers. Together with our medtech and biopharma partners, we leverage the power of AI to help democratize access to life-saving early diagnosis and precision treatment for every patient who can benefit.”
Learn more here.
About OptellumOptellum is a commercial-stage lung health company providing artificial intelligence decision-support software that assists physicians in early diagnosis and optimal treatment for their patients. The company was founded so that every lung disease patient is diagnosed and treated at the earliest possible stage when the probability of better health outcomes is highest. The Oxford-based medtech company has been the first to achieve FDA 510(k) clearance and reimbursability for US Medicare patients under CMS New Technology APC for the application of AI decision-support software in lung cancer diagnosis. It has since announced strategic partnerships with industry leaders, including GE Healthcare, Johnson & Johnson, and many other top biopharma and medtech companies, while Virtual Nodule Clinic has been implemented in healthcare systems across the USA and Europe. Optellum has headquarters at the Oxford Centre for Innovation in Oxford, UK, and a US office at the Texas Medical Center. For more information, visit optellum.com or follow us on LinkedIn.
Media Contact
Optellum Communications | [email protected]
1 Pre- and post-operative lung cancer recurrence prediction following curative surgery: A retrospective study using European radiomics and clinical data. Ann Valter, Tanel Kordemets, Aydan Gasimova, Noah Waterfield Price, Lutz Freitag, Anil Vachani, David Paul Carbone, Kersti Oselin, https://meetings.asco.org/abstracts-presentations/239181
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Element Biosciences to Showcase Sequencing Innovations at the European Human Genetics Conference

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Customers laud the positive impact of AVITI on advancing their scientific research
SAN DIEGO, May 30, 2024 /PRNewswire/ — Element Biosciences, Inc., developer of pioneering technologies to empower science, will showcase the rapidly growing use of its AVITI™ System sequencer across the European scientific community at the European Human Genetics Conference 2024 in Berlin, Germany, on June 1.  

During ESHG 2024, which runs from June 1-4, Element Biosciences’ Chief Technology Officer and Co-Founder Michael Previte will share the latest details on the AVITI24™, the first platform to combine state-of-the-art sequencing and multiomic cell analysis in one integrated biology tool.  The AVITI24 enables the simultaneous measurement of multiple analytes, including DNA, RNA, proteins, phosphorylated proteins, and morphology, in up to one million cells per flow cell.
“At ESHG, we’re excited to show the transformative power of AVITI and highlight how we’re advancing our mission to increase access to high-quality, affordable tools for complex biological research through AVITI24,” said Previte.
The AVITI System is expanding access to faster, more efficient and innovative sequencing for European scientific labs, with Element’s technologies now being used by researchers in most countries in Europe. With its AVITI24 open for preorders, Element also announced that existing customers are prebooking ahead of shipment, including the National Genomics Infrastructure (NGI) at SciLifeLab, a world-leading Swedish national center for large-scale research and one of the largest molecular biology research infrastructures in Europe.
“As part of the National Genomics Infrastructure, we’re committed to staying at the forefront of technology,” said Robert Månsson Welinder, Head of Strategic Relations at NGI. “Element’s AVITI24 will help us push this frontier and allow our scientific community to pursue new and exciting science.”
Leading European scientists emphasized the positive impact the AVITI has had on advancing their scientific research. Igor Fijalkowski, researcher at the Center for Medical Genetics at Ghent University in Belgium, noted the ease of adoption and flexibility of the platform saying “Over the last year or so we performed more than 100 runs of AVITI sequencing and overall, across multiple applications, the sequencing quality has been excellent. The transition was frictionless, so we are very happy with the way the sequencer has been performing.”
Several other researchers noted the cost-effectiveness, high quality, and flexibility of the AVITI platform. “Since the installation of our AVITI we have been blown away by its flexibility and quality outputs,” said Megan Hamilton, Genomics Facility Manager at the Babraham Institute in Cambridge, United Kingdom. Petri Auvinen, Research Director at the Institute of Biotechnology, University of Helsinki, Finland, said “AVITI seems to be the most efficient and most legitimate system to run a new chemistry for sequencing.”
Others called out the unique features of the AVITI not available on other platforms. “The cost-effectiveness of AVITI adds to its high sequencing quality of Q40-50, which makes it an important device in the future of cancer research,” said Romain Boidot, molecular biologist at the Georges-François Leclerc Center, France. Also in France, Charles Poncet, lab manager at INRAE, said “We chose AVITI for its combination of performance, price of the instrument and reagents, flexibility, and applications. We also had the chance to test AVITI with our wheat samples and the results were excellent, especially for an organism with such complex genetics.”
Two years after launching AVITI, the sequencer that provides the highest quality sequencing on a benchtop, Element has continued to innovate on its modular platform. It has introduced faster run times, expanded kit offerings, the Elembio Cloud software platform, and industry-leading affordability, while maintaining unprecedented accuracy.
About Element Biosciences, Inc.
Element Biosciences is a pioneering life science company democratizing access to advanced biological tools, driving impactful discoveries to benefit humanity. We are focused on developing disruptive DNA sequencing and multi-omics technology for research markets. Through innovating every fundamental element of a biological assay system, Element empowers customers with affordable, high-quality data and an improved user experience, which in turn will accelerate scientific discoveries. To learn more about Element, please visit www.elementbiosciences.com and follow us on LinkedIn, X (Twitter), and Facebook.
Media Contact:Kristi HeimElement [email protected]
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St. Pölten UAS: Networking Meeting of the Higher Education Area

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St. Pölten UAS Hosts 33rd EURASHE Annual Conference
Every year, the European Association of Institutions in Higher Education (EURASHE) brings together representatives of the higher education sector in order to discuss and design a common path in important matters for the present and future of education. This year’s meeting was held at the St. Pölten University of Applied Sciences. The focus of the event was on transnational collaborations between higher education institutions and on cooperation with the business world and society. More than 200 experts from all over Europe, Africa, Asia, and the Middle East took part.
ST. PÖLTEN, Austria, May 30, 2024 /PRNewswire/ — EURASHE, the European Association of Institutions in Higher Education, features approximately 600 universities, universities of applied sciences, university colleges, and similar institutions that conduct primarily professional higher education and applied research.

 
Important Voice in the European Higher Education Area”In order to come up with solutions to the diverse challenges of our times, it is necessary for us to integrate the knowledge and experiences of various fields and to further develop our creativity. In most cases, individual higher education institutions can generate only little impact unless they pool their forces. Therefore, international partnerships and university alliances are decisive for future-oriented development”, emphasises St. Pölten UAS CEO Hannes Raffaseder who is the current President of EURASHE. St. Pölten UAS is also the coordinator of the European University Alliance E³UDRES².
„Regarding higher education institutions it’s important that we have a diversity of voices in Europe and EURASHE is a very important voice for the universities of applied sciences. They bring in a different perspective. Typically they are very rooted in the local or regional context. They are close to the labour market and they are very innovative. So we need EURASHE to bring in their perspective and come up with new ideas on how we can make transnational cooperation work better at European level”, says Sophia Eriksson Watershoot, Director for Youth, Education and  Erasmus+ from the European Commission.
“I am happy to have our conference here in St. Pölten. The conference is different each year, and that is what makes EURASHE conferences so interesting. Here at this new campus, people get a feel of how fast changing this sector is. And we had a great diversity of people at the conference this year including guests from all around the world like North America, Asia, and the Middle East”, says John Edwards, Secretary General of EURASHE.
33rd EURASHE Annual Conferencehttps://www.eurashe.eu/events/annual-conference-2024https://www.eurashe.eu
Contact:Mark [email protected]+43 2742 313 228 ext. 269
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