IMS Research, an independent supplier of market research and consultancy services for the security industry, has named NICE Systems Ltd., a provider of intent-based solutions, as 2010 global PSIM (Physical Security Information Management) software solutions market leader.
IMS Research attributed NICE's success in Asia to the company's "expansion in the region and significant project wins in India." NICE was also the top ranked 2010 PSIM software provider by a wide margin for both the Americas and Asia.
IMS Research's report "The World Market for Physical Security Information Management (PSIM) Software -- 2010 Edition" released the results. This report provides an up-to-date and comprehensive assessment of the global PSIM market, including suppliers, growth forecasts and trends.
"NICE's PSIM solution emerged as a clear market leader in our research from a market share standpoint," said IMS Research Senior Analyst Gary Wong, the author of the report, in a press release. "Today's omnipresent threat of terrorism has heightened security concerns, leading to increased government spending on electronic physical security equipment, particularly in the transportation sector. Furthermore, innovative end-users are increasingly seeking better ways of managing security sites and facilities with large deployments of security equipment."
In his research, Wong mentioned a number of market factors that are expected to accelerate the growth in PSIM software solutions. He also stated that increasing regulatory pressures in certain vertical markets, and the need to comply with regulations such as the Homeland Security Presidential Directive (HSPD-12), The Transportation Worker Identification Credential (TWIC), The Chemical Facilities Anti-Terrorism Standards (CFATS), and the North American Electric Reliability Corporation (NERC (News - Alert)) CIP standards, are all fueling growth in PSIM solutions.
"We're pleased to be acknowledged as the global PSIM market leader by IMS Research," said Israel Livnat, president of NICE Security Group, in a recent press release.
Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.
Edited by Tammy Wolf
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