Last week I read with great interest a report published by the Frost & Sullivan analyst group, which places the PSIM (Physical Security Information Management) market under the microscope. It is clear that the momentum for PSIM is growing daily. The report revealed that approximately $150 million of revenue was earned for PSIM solutions during 2011, and it predicted exponential growth, with a potential market sizing of $2.8 billion by 2021.
A key driver of PSIM adoption raised in the report is the ease with which the technology can integrate a vast number of disparate security sensors and systems – for example, CCTV, access control, video analytics, perimeter detection, fire and smoke alarms, help points, customer information, and public address systems. This is especially beneficial when a business is acquired or merged.
This finding is supported by discussions with system integrators and end user organizations, who acknowledge the power and potential of PSIM. One of the benefits they most often voice is PSIM’s ability to help them know, at the Decisive Moment™, what’s happening, where it’s happening, and what needs to be done to manage a situation.
From our experience, a number of early adopters of PSIM in banking, airports, and mass transit are already realizing the benefits. However, Frost & Sullivan also clearly indicated a continuing need to educate the market and raise customer awareness. So, acting as a PSIM ambassador, I was pleased to have an opportunity to share my insights with Brian Sims of Info4Security in this video interview. We discussed how organizations can use PSIM to not only improve safety and security but to enhance operational efficiency as well. We also shared some examples of operations from a number of vertical markets that are already reaping the rewards of PSIM.