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News

Research Report Available For Global PSIM Market

Research And Markets : 24 January, 2011  (New Product)
A Frost report covering the global market for Physical Security Information Management Systems is now available from Research and Markets
Research and Markets has announced the addition of Frost & Sullivan's new report "Analysis of the Worldwide Physical Security Information Management Market" to their offering.



Physical Security Information Management (PSIM) software is a technology category in the physical security sector. It is the unique combination of video management for security and surveillance applications along with situation (incident and event) management. Whilst the standardization process gains momentum the need to provide customized solutions will remain dominant in the market. The worldwide PSIM market is expected to grow from $80 million in 2009 to $544 million in 2015, with a Compound Annual Growth Rate (CAGR) of 37%. There is a mix of companies which are either very strong in pure PSIM solutions and others that are adding functionalities to a basic Video Management Software (VMS).



This Frost & Sullivan research service titled Analysis of the Worldwide Physical Security Information Management Market offers revenues forecasts, analysis of drivers and restraints and an in-depth examination of the competitive environment.



Physical security information management (PSIM) offers a unique combination of video management, along with situation (incident and event) management for security and surveillance applications. While PSIM is seeing a higher degree of customisation, coupled with increased connectivity, many market participants believe that PSIM functionality can or should be created with off-the-shelf software and not by customisation options, notes the analyst of this research. It is anticipated that while the standardisation process gains momentum, the need to provide customised solutions will remain dominant in the market.



Software development and processor power have accelerated the adoption of PSIM. Today, the majority of the deployments are made mainly at maritime and airports, critical infrastructure, for homeland security and for law enforcement applications. Declining costs and greater sophistication are boosting the adoption of PSIM. The advanced use of wizards and plug-and-play technology makes PSIM solutions viable for large- and medium-sized organisations. As a result, PSIM has extended its boundaries from being limited to critical infrastructure protection and homeland security to the larger corporate market.



The migration of physical security technologies from analogue to IP is enabling easier communication, further fuelling the increased usage of PSIM. At the same time, the increasing recognition of its benefits among both security-critical sectors and non security-critical ones is boosting the prospects of PSIM. Heightened competition is leading to a fall in priceinevitably more competitors means that this technology is becoming more accessible to a wider range of customers, adds the analyst. CNL, VidSys, Proximex and NICE, with the acquisition of Orsus, are the clear market leaders at the moment and have a real stronghold in the market; these companies are driving adoption and acceptance in the market.



Ensuring interoperability across different vendors devices/systems remains a challenge for the market. The physical security market as a whole lacks common, open standards. Thus, virtually, any deployment requires the development of new drivers, for integrating the various systems. However the first steps towards increasing standardization are currently being made in the market from organizations such as ONVIF and PSIA, comments the analyst. The capability to intelligently analyse and cross reference incoming data represents yet another challenge; with some exceptions, PSIM systems, even today, still process individual alarms. Despite these challenges, the outlook for the market is bullish. As the traditional command centre solution providers have started accepting PSIM and end-users are starting to demand it; PSIM is emerging as a rapidly growing technology category promising increased year-on-year revenues.
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