Retailers are in a constant struggle against crime, as decision-makers are forced to deal with employee and outsider theft on a regular basis. By implementing advanced security tools, companies may be able to improve their odds against these situations.
According to a new report by Frost & Sullivan, integrated security systems are becoming more common in the retail industry as businesses continue their fight against shoplifting. The study revealed that access control systems and video surveillance solutions are the most often deployed tools.
Access control systems, which are usually deployed as keypads or ID card readers, help deter potential criminals from even entering the facility, while simultaneously monitoring which employees enter restricted areas during the time of theft, Frost & Sullivan reported. These technologies are experiencing rapid evolution as biometrics and other complex technologies become incorporated into the systems.
A separate report by Global Industry Analysts echoed the expanding access control market, noting that it is forecast to generate more than $14 billion in revenue by 2017. This will largely be driven by the technology’s increased used in retail as a way of deterring intrusions.
Surveillance is also big in retail
Frost & Sullivan also noted that surveillance cameras with remote monitoring capabilities are typically a significant part of a building’s security practices, especially for retailers. The advent of the IP camera, however, is sparking some debate in the industry, as many experts are unsure if it or legacy analog products will remain dominant.
The report said that the number of retail managers expecting to use analog surveillance cameras is expected to decrease from 50 percent to 23 percent during the next 12 months. During the next five years, on the other hand, the number of decision-makers who believe the use of analog cameras will decrease is forecast to rise to 20 percent, while another 58 percent believe the exact opposite.
A separate report by IMS Research noted that 2013 will be the year when IP-based surveillance cameras outsell their traditional analog counterparts.
Regardless of which tools retail decision-makers choose to use in their facility, the importance of leveraging such solutions does not dwindle. As the threat landscape continues to grow more menacing, it will become essential that managers do all in their power to mitigate risk if they want to remain competitive without losing revenue or damaging their reputation.