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James Chong

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.