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

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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.

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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