The PSIM market generated revenues of around $142.8 million in 2011, but analysts believe that this area of security provision will see “exponential adoption on a global basis” as awareness of the solution’s benefits increase.
PSIM helps end users identify risks and their source, but also offers advice on how to react to events through situational analyses. This information can be critical for businesses in improving their security levels.
Basic headlines of the report
The report covers the take-up of PSIM in the following vertical markets: critical infrastructure, first responders, commercial and military.
Frost & Sullivan states that the leading sector in revenue generation around PSIM is critical infrastructure but that “first responders and commercial entities are picking away at the pie”.
The analyst believes that the relative immaturity of the PSIM market is its most significant challenge, but that once it has proven its usefulness to the market then ‘word of mouth’ will ensure a larger uptake.
Fully in line with globalisation
Frost & Sullivan research analyst Krzysztof Rutkowski said: “The PSIM solution is fully in line with globalisation and, because it’s a unified solution, will be perceived as extremely valuable.”
Rutkowski continued: “Since understanding the benefits of any security solution is necessary to implement it, the rising awareness of PSIM will transform this million-dollar market into a billion-dollar one by the end of the decade.”
He suggested that the majority of security integrators are focused on solutions they are used to, and that their “unwillingness to learn information technology and implement software products” is restraining the PSIM market.
“This is a major challenge,” urged Rutkowski, “because awareness of customers may not be improved by the systems integrators.”
