Physical Security Information Management Set to Change the Way Companies Think about Security, Says Frost & Sullivan

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• Publié par: frost-sullivan
• Nombre de lectures: 12
• Langue: English

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Physical Security Information Management Set

to Change the Way Companies Think about

Security, Says Frost & Sullivan

PR Newswire

LONDON, July 12, 2012

- Video and access security system companies should tie up with PSIM players

not to be edged out of the market

LONDON

,

July 12, 2012

/PRNewswire/ -- While physical security information

management (PSIM) is still relatively new on the market, this commercial of the

shelf (COTS) product holds tremendous potential. As awareness of the solution

and its benefits to organisations increases, Frost & Sullivan expects PSIM

exponential adoption on a global basis.

New analysis from Frost & Sullivan (http://www.defense.frost.com),

Global

Physical Security Information Management Market

, finds that the market

generated revenues of

$142.9 million

in 2011, which is likely to significantly

increase by 2021 to reach

$2.79 billion

. Throughout the forecast period, there

will be a shift in revenue generation from verticals. Currently, critical

infrastructure is the leader but first responders and commercial entities are

picking away at the pie. The study covers the following vertical markets: critical

infrastructure, first responders, commercial and military.

Since physical security systems are scattered around facilities – different areas,

sites and even continents – a solution that can unite these systems will offer

great value to the customer.

"The PSIM solution is fully in line with globalisation and because it is a unified

system, will be perceived as extremely valuable," notes Frost & Sullivan

Research Analyst Krzysztof Rutkowski. "Since understanding the benefits of any

security solution is necessary to implement it, the rising awareness on PSIM will

transform this million-dollar market into a billion-dollar one by the end of the

decade."

PSIM not only helps end users identify risks and determine its source, but also

offers advice on how to react to events through situation analysis and rules

associated to each situation. Such in-depth information is critical for businesses

to ensure top-level security at all times. Once this solution proves its

significance to the market, word of mouth (WOM) is expected do the rest.

For now, the main challenge remains the immaturity of the PSIM market. The

security industry is still dealing with its shift to integration/convergence and IP,

which is why most enterprises are unaware of PSIM. The lack of projects

deployed also hinders WOM advertising and slows adoption.

"The majority of security integrators are focused on solutions they are used to

and their unwillingness to learn information technology and implement

software products is restraining the PSIM market," explains Rutkowski. "This is a

major challenge because awareness of customers may not be improved by the

systems integrators."

As such, being a well established player in the PSIM and security market is

crucial for market success. Value added products will be able to capture more