Organizations of all industries need to deploy robust physical security solutions to keep employees, customers and the community at large safe. For this reason, in addition to the increasingly troublesome crime rates, the markets for many security systems are forecast to expand during the next several years.
This was highlighted in a new report by Global Industry Analysts, which found that electronic security systems, CCTV and video surveillance equipment continue to be implemented around the world.
CCTV and surveillance cameras
Video surveillance is considered by many to be the building block of an efficient integrated security system, as nearly every organization can benefit from having an extra set of eyes in places that are traditionally difficult to monitor. According to Global Industry Analysts, the global market for CCTV and surveillance cameras is expected to generate $15 billion in revenue by 2018.
In most cases, the market for video surveillance solutions is being driven by the need to support enhanced security and monitoring capabilities to companies plagued by crime. Since the tools can also provide a number of new business opportunities to all types of organizations, however, these benefits cannot be overlooked, Global Industry Analysts said.
A separate report by The Houston Chronicle noted that surveillance cameras can substantially improve time management issues, as collecting and analyzing data on employee day-to-day activities provide decision-makers with key insight into operations. Executives can then make changes to the way tasks are completed to streamline operations and improve overall efficiency.
Furthermore, video surveillance can indirectly help organizations generate more revenue. Many firms are plagued by internal theft which hinders the company's ability to maximize revenue. By deploying video surveillance cameras, however, decision-makers can monitor employee activity and eliminate embezzlement without having to hire a detective agency.
Electronic security systems
While surveillance has and always will be a popular security technology, other electronic security solutions, like access control systems, are also gaining momentum. In fact, Global Industry Analysts forecast the global market for electronic security systems to generate more than $62 billion in revenue by 2018. This expansion will largely be bolstered by the regenerating construction industry, which will be required to use advanced tools to keep restricted areas safe.
Access control systems will be the major solution in this industry, largely because of their ability to be integrated with other advanced security technologies, Global Industry Analysts said. The proliferation of biometrics, in particular, will help push access control forward.
A separate report by Visiongain also highlighted the widespread adoption of biometrics, noting that the global industry is forecast to generate nearly $7.6 billion in revenue by the end of this year.
As physical security technologies continue to evolve and mature, more organizations around the world will develop next-generation strategies to adopt the tools in an effort to increase safety and boost internal performance.