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Study: PSIM market to grow to $2.8b by 2021

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Thursday, July 12, 2012

A couple days after PSIM maker VidSys touted one aspect of the new Frost & Sullivan PSIM study, F&S itself today sent out a release about this study.

The projections are most interesting part of the release, I think. F&S projects the global PSIM market is set to grow from a $142.9 million in 2011 to a $2.79 billion by 2021.

When I spoke to VidSys CTO James Chong the other day, he said that his company’s commercial business is on the rise. The Frost & Sullivan study says that’s the way it’s going to go. Revenue generation from will shift from solely to include more critical infrastructure to first responders and commercial entities in the future.  

The biggest driver will be “word of mouth” about PSIM capabilities, the study says.  Frost and Sullivan even gave that phrase its very own acronym—“WOM.”  That’s a new one for me.

There’s not a lot of WOM yet, because most enterprises are still grappling with the convergence of physical security and IT security.  

From the news release: "The majority of security integrators are focused on solutions they are used to and their unwillingness to learn information technology and implement software products is restraining the PSIM market," explains [Krzysztof] Rutkowski. "This is a major challenge because awareness of customers may not be improved by the systems integrators."

As such, being a well established player in the PSIM and security market is crucial for market success. Value added products will be able to capture more of the market share.

"Being well recognized in the market sends a positive message to the customers on expertise and future reliability in terms of installation and upgrades support," says Rutkowski. "Another key aspect to success is the value a PSIM provider can add to the solution i.e. a computer-aided dispatch (CAD) option or a command and control (C2) centre."

The study advises video and access control systems companies to "tie up with PSIM players" to avoid being edged out.
 

RMR Capital Group launches at ESX

New lender’s sweet spot is $150k to $500k
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07/11/2012

ST. LOUIS PARK, Minn.—Saying there’s a “glaring need for capital” among small and mid-sized alarm companies, another new lender has entered the security space: RMR Capital Group.

Telguard offers dealers incentive to go to 3G

Protection from ‘2G sunset’ worth up to $25 per unit
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07/11/2012

ATLANTA—Telguard Corp. is backing its call for alarm companies to prepare for the “2G sunset” with a $5 million program that gives dealers up to $25 for every 2G cellular communicator they replace with a Telguard 3G/4G product.

Monitronics embraces Wi-Fi for IP alarms

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07/11/2012

DALLAS—Monitronics International has begun accommodating Wi-Fi for IP alarm communications, paving the way for what the company says will be easier installations and lower service costs for customers and dealers.

VidSys says PSIM market maturing

VidSys founder says new Frost & Sullivan PSIM categories helps educate market
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07/11/2012

VIENNA, Va.—While there is still some confusion in the market about what constitutes a “true PSIM” and what’s merely a “PSIM wannabe,” the market is maturing and demand is growing, James Chong, founder and CTO of PSIM provider VidSys, told Security Systems News.

Devcon closing more branches

Reductions in company expenses and streamlining are designed to ‘set the stage for future success,’ CEO says
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07/11/2012

HOLLYWOOD, Fla.—Devcon Security—a super-regional based here that grew to a national player in the past year and a half—is downsizing to reduce expenses and strengthen the company’s finances for future profitability and growth, according to Devcon’s new CEO, Steve Hafen.

Illinois home fire sprinkler initiatives under way

Two-pronged effort in the state aims to increase residential fire sprinkler requirements
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07/11/2012

ORLAND PARK, Ill.—Whether it’s through a town-by-town adoption of new residential fire sprinkler requirements or via a new effort to require sprinklers in homes statewide, Illinois is making progress toward mandating the life safety devices in more and more homes, according to Tom Lia, executive director of the Northern Illinois Fire Sprinkler Advisory Board (NIFSAB).

Fraud trial, white gloves in McGinn, Smith case

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Wednesday, July 11, 2012

When the Securities and Exchange Commission charged alarm industry investors David L. Smith and Timothy McGinn in 2010 with running a Ponzi scheme that defrauded investors of at least $80 million, one of the SEC’s contentions was that some of the money was diverted to pay for “strippers and go-go dancers” on McGinn’s You Only Live Once cruise ship business.

Now, a judge has ordered that another cruise business associated with the case—this one with the tonier name of White Glove Cruises—be sold for more than half a million dollars to help pay the creditors of Smith and McGinn—who served as CEO of IASG from 2003-2006.

McGinn and Smith, founders of an Albany, N.Y.-based investment firm that conducted dealing in the alarm industry, also were indicted this year on criminal fraud charges that could send them to prison for years, if convicted. Each has pleaded not guilty and their trial—originally scheduled for last month—now is set to begin on Nov. 13.

The sale of Dania Beach, Fla.-based White Glove Cruises was approved by U.S. Magistrate Judge David R. Homer in a June 20 decision in U.S. District Court in the Northern District of New York. The buyer of White Glove, and a related business called Luxury Cruise Receivables, is Caribbean World Travel Services, and the purchase price is $575,000 in cash, along with other considerations, including being relieved from further lease obligations of more than $258,000, court records show.

White Glove is a travel agency “with Timothy McGinn appearing to have taken a material role in its management,” according to court records.

This business sounds much more refined than McGinn’s YOLO (You Only Live Once) venture. The agency specializes in booking cruises “on more luxurious cruise lines,” and had gross billings of between $9.7 million to $12.4 million for each of the past three years, court records say.

DICE rolls out backup in Colorado fire

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Tuesday, July 10, 2012

They are powerful numbers: More than 18,000 acres burned, 32,000 residents forced to evacuate, and nearly 350 homes destroyed. The Waldo Canyon fire outside Colorado Springs is now under control, but not before leaving its mark as one of the most destructive in the state’s history.

It’s a long way from the sagebrush to Bay City, Mich., but that’s where DICE Corp.’s Disaster Recovery Center geared up to help any clients threatened by the Waldo wildfire and others in the region. DICE software is used to monitor thousands of homes and businesses in the Colorado Springs area.

“Having accounts in an area that could, at any time, be in jeopardy on a large scale … will cause intense management issues at the monitoring centers located in non-affected areas,” the company said in an email statement. “Part of the preparation we did on behalf of the recent Colorado evacuations was to make our Disaster Recovery Center available to receive signals from any of our clients if the [fire] was affecting their normal day-to-day businesses. In doing so, it provided an advanced storm mode, if you will, in which case the extra signal activity is removed from the center’s inbound circuits, which is really an expansion of capacity and services to the center.”

Melissa Courville, head of marketing and communications for DICE, said there were clients in the Colorado Springs area that did turn to the company’s DR center for assistance, but she was not at liberty to disclose who they were or to what extent they were affected.

Courville said the situation served as a reminder of when the company provided backup for a central station that was destroyed during Hurricane Katrina until it was able to rebuild.

“I’m humbled to say it was my first opportunity to step up as an emergency operator to dispatch,” she said. “To us it is only natural to offer our assistance, as we have done always and continue to do so.”
 

Niche dealer program helps make home automation affordable

Online Alarm Quotes has expanded its dealer funding, enabling homeowners to get home automation extras with no money down
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07/10/2012

YONKERS, N.Y.—Online Alarm Quotes, a niche dealer program based here, recently announced it has upped its funding to dealers. That allows dealers to offer customers the latest in home automation technology with no money down, said Tom Fowler, co-owner of the dealer program, which was launched early last year.

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