North America PSIM Market 2015-2019 with CNL Software, NICE Systems, Tyco International & VidSys Dominating

News provided by

Mar 03, 2015, 08:13 ET

DUBLIN, Mar. 03, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/cpmcfl/psim_market_in) has announced the addition of the "PSIM Market in North America 2015-2019" report to their offering.

The PSIM market in North America to grow at a CAGR of 7.22% over the period 2014-2019

PSIM is a software platform used for enhancing and automating operations center management. PSIM software can be used to integrate security and non-security systems and can be customized as per end-user requirements. This software can be categorized into three types: PSIM+, PSIM, and PSIM lite. PSIM is also named as situation management tool as it allows end-users to take decisions and follow-up the actions as per the requirement in a situation. It provides safety and security to the data and critical infrastructures without incurring the replacement cost.

One major trend emerging in this market is the increase in the number of mergers and acquisitions. The growing PSIM market is attracting several new entrants into the market. As these new vendors may not have the financial strength to penetrate the global market and attain market leadership, they can be acquired by larger players to enhance their distribution channels and improve their penetration in regional markets.

According to the report, one of the major drivers in the market is the surge in integration of multiple security technologies. Enterprises tend to lose confidential data because of criminal activities such as theft of data, terrorism, and unauthorized access to secure infrastructures. Security technologies such as PSIM integrate hardware devices and software solutions, thus combating security threats.

Further, the report states that one of the major challenges in the market is the high initial investment required for setting up a physical security infrastructure. The TCO would also include the cost of replacement and upgrade of devices along with the cost of engaging professional expertise. This hinders the adoption of PSIM solutions among SMEs, limiting the growth of the market.

To calculate the market size, the report considers revenue generated from the following: