PHYSICAL SECURITY MARKET ANALYSIS

Technical issues and complexities can hamper the global physical security market growth. Increasing sophistication and advancement of security threats have made it quite difficult for traditional security systems to handle the new and emerging dangers. Legacy security systems that many organizations still rely on are struggling to integrate with newer technologies and are unable to support advanced features. This disconnects between older and newer platforms can create vulnerabilities and limits the effectiveness of security implementations.

Upgrading aging infrastructure and integrating disparate systems is a costly and time-intensive endeavour that many can deter many smaller organizations lacking resources. Physical security now encompasses a wide variety of solutions like video surveillance cameras, access control readers, intrusion alarms, and identity management. However, getting all these different components, some outdated, from multiple vendors to seamlessly work together has become a daunting task. The lack of common communication protocols and data standards between solutions hampers their interoperability. Organizations spend considerable money and manhours to customize limited integrations between systems instead of having out-of-the-box functionality.

As security moves towards more intelligent, data-driven approaches, the demand for analytics and artificial intelligence is also growing. But integrating newer video analytics and AI-based innovations into legacy video management software requires renovating the platforms. Limited processing power and storage capabilities of old systems restrict their ability to support advanced analytics. This prevents organizations from leveraging the full benefits of new technologies like wireless cameras, deep learning, and automatic license plate recognition.

Market Opportunities: Integration of IoT with Physical Security Systems

The integration of Internet of Things (IoT) technology with physical security systems can provide significant opportunities for growth of global physical security market. IoT enables physical security devices like cameras, sensors and access control systems to be connected and exchange data over a network. This facilitates remote monitoring of premises from any location. Many organizations are adopting hybrid video surveillance systems that utilize IP cameras with features like auto-triggering, facial recognition and license plate reading. The data collected from these IoT devices can be analyzed using artificial intelligence and machine learning tools to gain valuable insights.