Security

PSIM Software Evolving into Situation Management and Command & Control Platforms

This article was written by Daphne Tomlinson of Tomlinson Business Research. PSIM, or Physical Security Information Management, is a category of software, created by middleware developers, which is designed to integrate multiple unconnected security applications and devices and control them through one comprehensive user interface. These solutions aimed at large facilities have been deployed to help secure a broad range of organizations, such as banks, utility companies, airports, transportation systems, major public buildings and the sites of Fortune 500 companies. Memoori’s 2014 Annual Report on the Physical Security Business estimates that PSIM sales were approximately $200m in 2014 and growing at around 20% per annum. It is therefore a relatively small market with high initial cost that is limiting its growth. Disruptive trends such as cloud computing, cybersecurity and the Internet of Things are driving profound IT changes across all industries, including the enterprise security market, creating opportunities and challenges for PSIM players. While the […]

Stay ahead of the pack

with the latest independent smart building research and thought leadership.

Have an account? Login

Subscribe Now for just $200 per year per user (just $17 USD per month) for Access to Quality Independent Smart Building Research & Analysis!

What Exactly Do you Get?

  • Access to Website Articles and Notes. Unlimited Access to the Library of over 1,700 Articles Spanning 10 Years.
  • 10% discount on ALL Memoori Research reports for Subscribers! So if you only buy ONE report you will get your subscription fee back!
  • Industry-leading Analysis Every Week, Direct to your Inbox.
  • AND Cancel at any time
Subscribe Now

This article was written by Daphne Tomlinson of Tomlinson Business Research.

PSIM, or Physical Security Information Management, is a category of software, created by middleware developers, which is designed to integrate multiple unconnected security applications and devices and control them through one comprehensive user interface.

These solutions aimed at large facilities have been deployed to help secure a broad range of organizations, such as banks, utility companies, airports, transportation systems, major public buildings and the sites of Fortune 500 companies.

PSIM
Memoori’s 2014 Annual Report on the Physical Security Business estimates that PSIM sales were approximately $200m in 2014 and growing at around 20% per annum. It is therefore a relatively small market with high initial cost that is limiting its growth.

Disruptive trends such as cloud computing, cybersecurity and the Internet of Things are driving profound IT changes across all industries, including the enterprise security market, creating opportunities and challenges for PSIM players.

While the PSIM acronym continues to be widely used by the many smaller firms in the physical security management systems market, the leading players including Qognify, Verint, VidSys and Siemens have moved away from the term in order to differentiate themselves from the competition. Negative connotations around complexity and high cost are likely to have also played a part in vendors rebranding their offerings.

Applications beyond physical security are being highlighted by the key players. For example, Vidsys now offers a Converged Security and Information Management (CSIM) software platform, announcing on its web site that: “The increasingly popular label of PSIM fails to capture the full scope of our rapidly-evolving integration platform, one that is facilitating cloud-based solutions and the convergence of a common operating picture linking security systems, building management systems and IT network management tools for asset owners globally”

Moti Shabtai, president of Qognify (formerly Nice Systems Physical Security), told Security Systems News in a recent interview that Qognify Situator “takes PSIM to the next level … to provide situation management and operational intelligence.” confirming the trend of vendors to move beyond PSIM into non-security related applications such as maintaining business continuity and optimizing operational efficiency.

Mobile technology has been increasingly adopted to enhance field operations. For example, Verint Situational Awareness and Intelligence platform was enhanced in Sep 2015 with Mobile Reporter and Mobile Responder functionalities enabling local citizens to share information directly from their smart devices and providing field personnel with more real-time, accurate intelligence about an incident before arriving on-site.

Acquisitions, Alliances and Funding
Two of the leading PSIM players, Qognify and Vidys are funded through private equity and venture capital and ultimately can be expected to acquire new owners.

Battery Ventures, the private equity firm, acquired Nice Systems Physical Security Business Unit (PSBU) in August 2015 in a deal worth up to $100 million. The company has subsequently been renamed Qognify.

There are plans to continue to grow the company by maintaining its focus on the physical security market, while expanding the unit's solutions for daily operations management. Battery also hopes to complement the company's existing technology through strategic acquisitions.

In its latest financing round, Vidsys received $15.65 million equity financing in Aug 2013 led by NewSpring Capital. Also participating were VidSys’ existing Investors, Atlanta Equity, Flybridge Capital Partners, JVax Investment Group and Motorola Solutions Venture Capital. Cisco has also invested in Vidsys in a previous financing round in 2011.

More recently, Vidsys announced a strategic alliance with S1 Corporation, an affiliate of the Samsung group in Korea, which is adopting VidSys as its exclusive go-to-market PSIM platform for security integration and critical infrastructure in support of key projects around the world.

[contact-form-7 id="3204" title="memoori-newsletter"]

Cloud Computing
Even though cloud applications are still at an early stage in physical security, they are destined to transform the PSIM market.

One early adopter of a cloud-based solution is Octopus, a start-up company, based in Tel Aviv that makes command and control PSIM software for large facilities such as airports, factories, hospitals, and commercial buildings. The company has recently raised $2.5 million venture capital funding from Singulariteam and will use the funds to expand in the U.S. and Asia. Octopus’ products are already used in Israel by the government, 28 Coca-Cola factories, VISA, and three national banks.

The company’s converged PSIM solution runs on the cloud or on-premises and brings to the market a security management and integrated command and control system with more than 35 different modules and a mobile phone platform allowing a complete all-in-one system for physical security and dispatch, cyber security alerts and social media analysis.

Co-founder and chief executive officer Tal Bar Or says that his company’s advantage is an already fully-deployed and tested cloud-based system, as well as its focus on cybersecurity.

With increased risk of terrorist activities and incidents both in the workplace and in public places, effective PSIM platforms are needed more than ever, within the framework of situational awareness, situation management and situation reconstruction. Their capability to also go beyond physical security and provide operational intelligence gives them a promising outlook for the future.

Most Popular Articles

SPIE
Energy

SPIE Technical Facility Management Business 2024 Examined

This Research Note examines the French public company, SPIE and its focus on building solutions, which is one of four strategic markets that the group addresses in central and northern Europe. This article covers the Group’s fields of expertise, its development since 2013 through platform and bolt-on acquisitions and its expansion in the Netherlands, based […]

Infogrid Acquicore Lawsuit
Smart Buildings

Infogrid Faces Lawsuit over 2022 Acquisition of Aquicore

Established in 2018, UK-based smart building firm Infogrid quickly made a splash in the market, picking up a range of high-value customers including banks, supermarkets, and restaurant chains, as well as the UK’s National Health Service (NHS) during the peak of the global pandemic. The firm has attracted $135.5m in investment (including debt financing) from […]

IWMS Spacewell Nemetshek 2023
Smart Buildings

Spacewell Smart Buildings Business & Financials 2023 Examined

In this Research Note, we examine Spacewell, part of the Manage segment of Nemetschek, which provides software for the management and operations phase in the building lifecycle. This article is based on their 2023 annual results, investor presentations, Annual Report of the parent company, published on 21st March 2024 and the group’s strategy in the […]

Subscribe to the Newsletter & get all our Articles & Research Delivered Straight to your Inbox.

Please enter a valid email

Please enter your name

Please enter company name

By signing up you agree to our privacy policy