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Physical Security Information Management Fundamental for Integration and Convergence in the Physical Security Market - Physical security information management (PSIM) is becoming fundamental for next generation fully integrated physical security systems to offer advanced functionalities and to present a clear return on investment (ROI)
Physical Security Information Management Fundamental for Integration and Convergence in the Physical Security Market

 

NewswireToday - /newswire/ - London, United Kingdom, 2010/12/16 - Physical security information management (PSIM) is becoming fundamental for next generation fully integrated physical security systems to offer advanced functionalities and to present a clear return on investment (ROI).

   
 
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New analysis from Frost & Sullivan (autoid.frost.com), Analysis of the Worldwide Physical Security Information Management Market, finds that the world market for PSIM software earned revenues of $80 million in 2009 and estimates this to reach $544 million in 2015, with a Compound Annual Growth Rate (CAGR) of 37.6%.

"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 Frost & Sullivan Research Manager Matia Grossi. "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 is made mainly at maritime and airports, with critical infrastructure, homeland security and 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 also boosting the prospects of PSIM.

"Heightened competition is leading to a fall in price. Inevitably, more competitors means that this technology is becoming more accessible to a wider range of customers," adds Grossi. "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 PSIM adoption and acceptance".

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 to integrate various systems. "However, the first steps towards increasing standardization are currently being made in the market from organizations such as ONVIF and PSIA," comments Grossi.

"The capability to intelligently analyse and cross reference incoming data represents yet another challenge," states Grossi. "With some exceptions, PSIM systems, even today, still process individual alarms."

Despite these challenges, the outlook for the market is optimistic. As the traditional command centre solution providers have started accepting PSIM and end-users are starting demanding it; PSIM is emerging as a rapidly growing technology category promising increased year-on-year revenues.

If you are interested in more information about this study, please send an email to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com, with your full name, company name, title, and contact details.

Analysis of the Worldwide Physical Security Information Management Market is part of the Automatic Identification & Security Growth Partnership Services programme, which also includes research in the following markets: World Security Services Market, World Video Surveillance Market, World EACS Market and World Outdoor Perimeter Detection Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Analysis of the Worldwide Physical Security Information Management Market / M683

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Physical Security Information Management Fundamental for Integration and Convergence in the Physical Security Market

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