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PSIM market to grow, report says

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12/28/2012

NAPERVILLE, Ill.—A new report prepared by market analysts at TechNavio says the global Physical Security Information Management (PSIM) market is expected to grow at a CAGR of 30.34 percent over the period 2011-2015.

Fortem raises $1.43m

PSIM provider feeling confident in prospects for growth
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12/05/2012

MONTREAL—Saying that its Omnipresence 3D can do “more intelligent data aggregation” than other PSIM products on the market, Fortem recently announced that it has raised $1.43 million in additional funding.

Former White House CSO joins PSIM provider

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12/03/2012

VidSys, a provider of PSIM solutions, has named John Gill, a former White House chief security officer, its vice president of business development, according to a company statement.

IMS report: limited awareness curbs growth for PSIM

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11/20/2012

WELLINGBOROUGH, U.K.—Although the global market for PSIM software is estimated to have more than doubled between 2009 and 2011, according to a report from IMS Research, figures remained below $100 million in 2011, with limited awareness identified as the greatest inhibit

The PSIM potential

Critical infrastructure, regulated environments and big companies concerned about reputation and brand are projected to drive adoption of PSIM
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09/04/2012

YARMOUTH, Maine—If you are a vendor or integrator of PSIM systems, the chances are good that you consider this to be an exciting time in the security industry. And the chances also are excellent that, regardless of your expertise and experience, your views on PSIM market trends will be challenged by others in the field.

Study: PSIM market to grow to $2.8b by 2021

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Thursday, July 12, 2012

A couple days after PSIM maker VidSys touted one aspect of the new Frost & Sullivan PSIM study, F&S itself today sent out a release about this study.

The projections are most interesting part of the release, I think. F&S projects the global PSIM market is set to grow from a $142.9 million in 2011 to a $2.79 billion by 2021.

When I spoke to VidSys CTO James Chong the other day, he said that his company’s commercial business is on the rise. The Frost & Sullivan study says that’s the way it’s going to go. Revenue generation from will shift from solely to include more critical infrastructure to first responders and commercial entities in the future.  

The biggest driver will be “word of mouth” about PSIM capabilities, the study says.  Frost and Sullivan even gave that phrase its very own acronym—“WOM.”  That’s a new one for me.

There’s not a lot of WOM yet, because most enterprises are still grappling with the convergence of physical security and IT security.  

From the news release: "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 [Krzysztof] 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 of the market share.

"Being well recognized in the market sends a positive message to the customers on expertise and future reliability in terms of installation and upgrades support," says Rutkowski. "Another key aspect to success is the value a PSIM provider can add to the solution i.e. a computer-aided dispatch (CAD) option or a command and control (C2) centre."

The study advises video and access control systems companies to "tie up with PSIM players" to avoid being edged out.
 

VidSys says PSIM market maturing

VidSys founder says new Frost & Sullivan PSIM categories helps educate market
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07/11/2012

VIENNA, Va.—While there is still some confusion in the market about what constitutes a “true PSIM” and what’s merely a “PSIM wannabe,” the market is maturing and demand is growing, James Chong, founder and CTO of PSIM provider VidSys, told Security Systems News.

New Vidsys CEO says being a stand-alone company is optimal

Michael P. Jackson, a former high-level government official and independent board member, named CEO and chairman
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02/22/2012

VIENNA, Va.—Michael P. Jackson, the newly named CEO of Vidsys, believes that the PSIM provider is perfectly situated as a stand-alone business to grow.

TechSec 2012 preliminary educational program announced

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09/22/2011

ORLANDO, Fla.—Details of the TechSec 2012 educational program were announced by conference organizers on Sept. 20, the second day of the ASIS show here.

Cisco invests in VidSys

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09/16/2011

VIENNA, Va.–VidSys, a major PSIM provider based here, announced today it has closed a recent round of funding that includes Cisco.

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