Physical Security Information Management (PSIM) is a software platform that integrates disparate security deployments and collects, correlates, illustrates, rules and analyses security data.
- It is a commercial off the shelf product with predefined features, an open architecture that also allows to integrate or accommodate non-security systems. Additionally this product contains tailoring capabilities.
- The PSIM market is still in an embryonic stage in many geographical areas.
- We have acknowledged the existence of three types of PSIM solutions: PSIM+, PSIM and PSIM lite.
- The application of PSIM in critical infrastructure protection mainly drives the market. However, a shift in revenue generation from critical infrastructure to the commercial and first responders segments is predicted.
- The main drivers affecting PSIM are large-scale events, smart and safe cities, customer awareness, a cohesive solution and the return on investment (ROI).
- The main restraints of the PSIM market are uneducated market, integrators, immaturity of the market, the recession and the lack of security standards.
- The value of the market is estimated to be $142.9 million in 2011 and is expected it to grow at an extraordinary pace (34.6 per cent CAGR) and reach $2,789.2 million by 2021. PSIM adoption enablers have been identified and analysed. They include the availability of the latest technology, accessibility of digital content, buyer sophistication and governmental prioritisation of ICT and GDP.
- The top five countries emerging from the analysis of the adoption enablers are Switzerland, Norway, Luxembourg, Qatar, and the United Arab Emirates.
- The regional revenue forecast is predicted to change significantly throughout this period.
- The dominance of the United States of America is predicted to decline from 29 per cent in 2011 to 21.9 per cent in 2021.
- We also see significant increases in the developing world with India and China increasing their market importance by 2021 to 13.4 per cent and 14.5 per cent, respectively.
- Certain mega trends are likely to affect the PSIM market. Smart cities and smart infrastructure, cyber warfare and transportation corridors could be the main market influencers.
Market Overview—Key Questions
This Study Will Answer
- Is the market growing, how long will it continue to grow and at what rate?
- Are the existing competitors structured correctly to meet customer needs?
- Is this an industry or a market? Will these companies/products/services continue to exist or will they get acquired by other companies? Will the products/services become features in other markets?
- How will the structure of the market change with time? Is it ripe for acquisitions?
- Are the products/services offered meeting customer needs or is additional development needed?
- Are the vendors in the space ready to go it alone, or do they need partnerships to take their business to the next level?