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Smart cities drive growth in APAC PSIM market
Physical Security Information Management system deployments are expected to grow in the Asia Pacific region on the back of smart city developments.
The development of smart cities in China, India, Australia and South Korea is expected to boom during the next four years driving demand for Physical Security Information Management (PSIM) software which enables complex systems to be controlled and managed effectively based on inputs from a wide variety of sensors and conditions.
Traffic management is an essential element of the successful implementation of smart city projects and is ideally matched to the technology offered by PSIM software which can manage despatching, surveillance, traffic control, analytics and aspects of security such as access control and alarm management.
As a result of these smart city projects, the PSIM market in the APAC region is expected to grow at a CAGR of 42% until 2018 with a small number of suppliers dominating the market. However, these suppliers are under increasing pressure from Video Management System (VMS) suppliers. VMS and PSIM have a certain degree of crossover in their functionality and the VMS supplier base is now starting to expand the scope of their products to encompass more of the function set covered by PSIM.
Although traditionally a product utilized by Government agencies, PSIM is also growing in popularity amongst larger corporations for managing security activities as returns on investment have been seen to fall significantly making the technology more accessible to a larger user base. This has also influenced the expected growth rate.
Key vendors in the PSIM market are Nice Systems, CNL Software and VidSys with Milestone Systems as a major VMS supplier making inroads on the market.
To understand more about the PSIM market in APAC during the next four years, download the Research and Markets report: “Asia-Pacific Physical Security Information Management (PSIM) Market 2014-2018”