The physical security market has been on the rise for over a decade, and early this year, analysts said it would likely increase at a CAGR of 10.5% in the 2020-2025 timeframe. So how will the 2020 market disruptions affect this multi-year growth?
Demand for all security products will increase. In addition, there will be sharply increased demand for new solution categories. Topping that list of new categories? The market where building access meets health and safety as back-to-work pressures create unprecedented demand for new security/health pre-screening products and services. The clear trend overall: more growth opportunity for security solutions.
As 2020 kicked off, there were already upward trends in the demand for security solutions. The trends include:
More widespread adoption of IP-based cameras: Internet protocol cameras, or IP cameras, continue to be on the list of much-in-demand products. IP-based cameras are rapidly replacing analog cameras because of their ease of installation, scalability, and because their digital platform more readily feeds data into enterprise systems for intelligence and analytics.
Better, more high-resolution video: Organizations of all kinds are replacing their old security cameras, even their older digital and IP-based cameras, with ultra-high-definition models that offer 4K resolution, motion detection, night-vision modes, and more.
IoT technology: Intelligent monitoring, tampering alerts, perimeter protection, automobile tracking, and more are now available thanks to connected sensors and smart devices.
Analytics and machine learning: The days of just monitoring and archiving video are long gone. Advances in video analytics and machine learning are augmenting security solutions by gathering information from multiple devices and turning it into real-time actionable data.
As 2020 has progressed, two huge trends are now emerging that will increase demand for physical security products and services. They include:
Security needs for closed buildings
Many 2020 business and facility closures – whether temporary or permanent led to the urgent need for physical security solutions to protect empty or near-empty commercial properties.
Back to Business
Probably the most promising new trend in terms of business opportunity in 2020 and 2021 is this: the COVID shutdowns and the subsequent phased reopenings have retail stores, factories, offices, and nearly every kind of building manager seeking technology solutions for health and safety monitoring. They hope to smooth the return “back to work” and “back to shopping” experience.
The good news is that there are creative solutions that use the best new technologies of security/building access with the addition of thermal screening. Even better, end users can combine these solutions with digital signage functionality.
A great example of this is how SYNNEX and Samsung have joined forces to bring customers back safely. They have teamed up with CRI for a thermal-heat detection solution to meet customer needs and get back to business.
CRI has created two different options to fill the need for thermal detection for health pre-screening to help with back-to-work and back-to-school. They offer a floor stand and a desktop stand that requires no touch points. Employees, customers, or students just look into the device and the screen is complete. Add in a Samsung messaging board (QM32R) to help direct traffic after the scan and the thermal detection is complete.
There’s more opportunity to grow your physical security offering going forward than there has ever been. SYNNEX advisors can help you unlock the opportunities and turn them into profit. To learn more, email firstname.lastname@example.org.