DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/83x6vg/global_physical) has announced the addition of the "Global Physical Security Information Management Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Physical Security Information Management market to grow at a CAGR of 30.34 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing number of smart cities. The Global Physical Security Information Management market has also been witnessing the increasing rate of market consolidation. However, the interoperability across multiple security devices could pose a challenge to the growth of this market.
The other vendors mentioned in the report are axxon soft inc, Genetec Inc., Intergraph Corp., Mer Inc., S2 Security Corp., Tyco Integrated Security, and videoNEXT Network Solutions, Inc.
Commenting on the report, an analyst from TechNavio's IT Security team said: ''The Global Physical Security Information Management (PSIM) market is a mix of pure-play vendors and large enterprises. Large enterprises are acquiring pure-play vendors to gain technological expertise and enhance their product portfolios. Moreover, acquiring pure-play vendors helps large enterprises increase their share in the Global PSIM market.''
According to the report, governments around the world have started developing smart cities in response to the increase in the number of security threats. Smart cities are equipped with the latest security technologies such as video surveillance, access cards, and biometrics to ensure the safety of the inhabitants. These technologies may be employed at commercial as well as residential complexes. With numerous security technologies being employed, it becomes imperative to be able to manage and monitor all the security devices. PSIM is able to address this need; therefore, there is a demand for PSIM in smart cities.
Further, the report reveals that the continual postponement in the purchase of PSIM software, due to the global economic uncertainty, can adversely affect the Global PSIM market.
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