PSIM software continues to see strong growth despite increased competition

June 2014 News & Events

A new report from IHS reveals that the world market for PSIM (Physical Security Information Management) software is estimated to have been worth $160.3 million in 2013.

The PSIM market, while being a small segment of the larger security and fire market, continues to enjoy 20% and higher growth rates, and will do so until at least 2018. This growth is being driven in part by end-­users utilising PSIM software platforms as a tool to enforce compliance of both internal policies and external legislative requirements.

Despite these growth rates, confusion surrounding what constitutes PSIM software remains. Competing products such as command and control platforms, advanced video management software and security integration platforms have muddied the water as their capabilities and functionality have expanded into what was once considered PSIM’s territory of situational awareness and situation management.

One of the key selling points in previous years for PSIM platforms was their ability to connect and integrate multiple disparate systems, both security and non-security. It is this connectivity and integration aspect to PSIM which has been eroded over the past two years, with many other products being able to offer various integrations to expand their software’s reach. PSIM software has thus had to shift its USP away from this integration aspect.

Customers that are buying PSIM now are really coming with a top-down view, with a need to improve their security operations.

That said however, the market has grown in line with expectations from the previous edition of the report, with the market being $7,5m larger in 2013 than previously expected.

For more information contact IHS, +44 1933 402 255, [email protected], www.ihs.com





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Highest increase in global cyberattacks in two years
Information Security News & Events
Check Point Global Research released new data on Q2 2024 cyber-attack trends, noting a 30% global increase in Q2 2024, with Africa experiencing the highest average weekly per organisation.

Read more...
Continuous security optimisation.
News & Events Information Security
Cymulate has announced its partnership with SentinelOne, a threat exposure validation and AI-powered cybersecurity platform. The collaboration delivers self-healing endpoint security that empowers businesses to increase protection for every endpoint on their network.

Read more...
ISPA’s take-down process protects from local scams
News & Events Information Security
During the recent school holidays, parents could rest a little easier knowing that ISPA, SA’s official internet industry representative body, is removing an average of three to four problematic websites from the local internet every week.

Read more...
The power of PKI and private sector innovation
Access Control & Identity Management News & Events Government and Parastatal (Industry)
At the recent ID4Africa 2025 Summit in Addis Ababa, the spotlight was firmly on building secure, inclusive, and scalable digital identity ecosystems for the African continent.

Read more...
Bosch Security renamed Keenfinity
News & Events
Globally renowned brands for video systems, access control and intrusion alarm systems, as well as communication systems, unite under the roof of the new company Keenfinity Group.

Read more...
2025 video surveillance market set for improved fortunes
News & Events Surveillance
Novaira Insights has unveiled its latest report, World Market for Video Surveillance Hardware and Software – 2025 Edition, forecasting a healthy growth rate of 8,1% until 2029, excluding China.

Read more...
Wialon announces integration with fleet maintenance and optimisation platform
News & Events Transport (Industry) Logistics (Industry)
Fleet management software platform integrates with a fleet maintenance and optimisation platform to support mutual customers for better workflows and deeper insights into fleet operations.

Read more...
DeepSneak deception
Information Security News & Events
Kaspersky Global Research & Analysis researchers have discovered a new malicious campaign which is distributing a Trojan through a fake DeepSeek-R1 Large Language Model (LLM) app for PCs.

Read more...
Almost 50% of companies choose to pay the ransom
News & Events Information Security
This year’s Sophos State of Ransomware 2025 report found that nearly 50% of companies paid the ransom to get their data back, the second-highest rate of ransom payment for ransom demands in six years.

Read more...
Value and industry insight
Securex South Africa Training & Education News & Events
Securex South Africa 2025, co-located with A-OSH EXPO, Facilities Management Expo, and Firexpo, drew thousands of security professionals from across the continent and beyond, offering a platform for networking, product discovery, and knowledge sharing.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.