Security Industry

What are the key trends in the security industry?

• Employment challenges – including higher wages and difficulty finding employees for manned security operations – can lead to use of equipment to automate security.
• Where workers are located, whether remotely, in-office, or both, impacts what foot traffic is like in major cities and the need to watch occupied and unoccupied buildings. 
• Inflation is playing a role in rising wages and increasing the cost of security equipment components. As a nonrevenue-generating area of most business, companies need to realize the full value of their security operations to keep spending up. 
• Supply chains – so much of the security equipment industry requires the computer chips, sensors, and other elements that have been in high demand and caught in pandemic-era supply crunches and shipping troubles.
• Public safety outlook – real security risks aren’t nearly as important as perceived security risks in most areas .
• Smart and connected innovations make manned security operations more efficient, providing more and better service. On the other hand, they limit the need for manned security services by enabling greater automation and self-monitoring. Still, as costs fall, they open the door for ever greater expansion of the potential pool of customers.