Smart city projects fuelling interest in physical security information management

• Smart city projects to drive growth in the market
• Key vendors include CNL Software, Qognify, Tyco International, and VidSys

Technavio predicts that the global physical security information management (PSIM) market will grow at a CAGR of almost 15% between 2016 and 2020. The recent increase in the number of smart city projects across the globe is stimulating a rise in the demand for PSIM deployments, the research firm said. PSIM integrates video footage from traffic control cameras and public space video surveillance cameras to create a unified picture of the environment.

"The integration of social media in PSIM is the latest trend in the global market. PSIM platforms constitute a category of software that comprises of applications and platforms created by middleware developers. Such software is designed to incorporate multiple security applications and devices to control them through a single, comprehensive user interface. By connecting social media to the PSIM environment, PSIM users will be able to generate more information for decision-making,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.

By 2020, the critical infrastructure segment is likely to continue its market dominance with a share of more than 48%. This sector includes ports, airports, roads and rail networks, and educational institutions. The upsurge in investments by governments for the development of infrastructure is resulting in the improvement of the safety and security of the transportation networks, leading to growth in the global PSIM market for critical infrastructure in the coming years.

CNL Software, Qognify, Tyco International, and VidSys are the prominent vendors in the global PSIM market. The global PSIM market comprises both large and pure-play vendors in niche segments such as software and services. Competition is likely to intensify, Technavio said.

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