How optimistic is the physical security outlook for 2019?
The new year 2019 is brimming with possibilities for the physical security industry, but will those possibilities prove to be good news or bad news for our market? Inevitably, it will be a combination of good and bad, but how much good and how bad? We wanted to check the temperature of the industry as it relates to expectations for the new year, so we asked this week’s Expert Panel Roundtable: How optimistic is your outlook for the physical security industry in 2019? Why?
The future is bright! The level of education and awareness of leading technology is increasing. The same can be said about awareness of the threat of cybersecurity challenges. The industry is coming together across multiple organisations – ASIS, ONVIF, SIA, OSSA – all sharing a vision of improving the robustness and deployment of leading technology to meet the emerging threats we see around the world.
In my opinion, the physical security market in 2019 will grow steadily as it has done over the last few years, triggered by recent events that have given rise to the need for leaders to provide more comprehensive security protocols that protect people and assets. In particular, we will continue to see increased investments in the safety and security of schools – both at the university and K-12 levels – as well as significant growth in the small- to medium-sized businesses that have traditionally been ignored in favor of the large-scale enterprise installations. The outlook for managed, service-based security solutions will also continue to see growth as the SMB market requires additional security coverage without the significant infrastructure investment needed to support such solutions.
Very optimistic. We anticipate a move to more open access control hardware environments that attract players beyond traditional physical and IT security integrators into a richer and more vibrant development community. This will fuel a faster, simpler path from design to deployment as developers shift from having to create an entire vertically integrated solution to simply layering an app experience on top of an existing physical access control system (PACS) infrastructure. There also will be a continued mainstreaming of mobile access that meets user demand for “digital cohesion” in which everything can be interconnected and available through a smartphone app from opening doors to authenticating to enterprise data resources to accessing building applications and services. We also anticipate growing adoption of biometrics at the door, and the use of advanced data analytics to generate valuable insights for improved security and to personalize the user experience while driving better business decisions.
I'd say it's very optimistic; there are a number of exciting technology developments like machine learning, artificial intelligence, more IoT-centric tech, etc., that are propelling enhancements in existing products and the development of new products and integrations. At the same time, customers have started looking closely at the quality and cybersecurity of these products rather than just price, reversing a “drive to the bottom” trend over the past few years. There is also likely to be robust growth in the industry, driven by a number of factors, also including the opening up of new markets such as cannabis and the use of security components – especially video – for applications outside security, such as business intelligence. Added to this is the increasing acceptance of cloud-based services, which open up segments of the market that had been underserved. So yes, I’d say 2019 is going to be a great year for the industry.
We definitely have a positive outlook for 2019, both for the physical security industry as a whole and for TDSi as a key business within it. The security industry has certainly faced challenges during 2018. Some export markets have gone “on hold” this year due to political or economic circumstances, but there are very positive signs these markets are bouncing back as we move towards 2019. This is particularly evident in parts of the Middle East and a number of ASEAN nations, where the political situation is now more stable (or promises to be in the near future), and we are likely to see these governments loosen their budgetary purse strings. We are forecasting continued year-on-year growth in the more established European and North American markets. We are very excited about 2019!
As we prepare for 2019, we are very optimistic with our outlook regarding the physical security market. This last year, we saw continued demand for our radar and perimeter protection technologies across many sectors, including utility substations, data centers and prisons. We are not expecting that to slow down in the new year. In addition, the importance of cybersecurity has amplified, and physical and logical security are becoming increasingly intertwined with these efforts. This, combined with a higher value being placed on quality solutions, has slowed down the “race to the bottom.” In 2019, we expect to see end users placing more importance on what solutions can deliver along with their overall performance. This will be good news for manufacturers and integrators alike, as customers will be less concerned with price alone, and more open to conversations about the ROI specific technologies can provide for their applications.
The physical security industry will continue to evolve in the new year. For example, the increasing adoption of video analytics will be a key trend that will help drive growth in the market. More facilities, including stadiums, campuses, commercial and medical buildings, will use the insights to develop new products and act on smart city initiatives, among other projects. Along with video analytics, workforce development will be a priority as the need for skilled security technicians becomes an even larger focus. A proactive strategy in 2019 focused on training and educating the next generation will play a pivotal role in supporting the future of the security industry and new technological advancements.
We see continued growth (in video and audio) in the security market for 2019 and are very optimistic. Video is growing due to continued demand for security. Additionally, the benefits of IP can provide better situational awareness and other cross-functional uses for improved business operations and customer experience. Looking ahead to 2019, the safe city space will not only need surveillance but also smarter traffic solutions that can have a very positive cost impact for the city. Lastly, there is room for growth when it comes to audio solutions as many of them are still analog, and similar to the conversion from analog to IP video, we are starting to see signs of high growth. 2019 is going to be a positive year for the physical security industry!
Hanwha Techwin had a great year, and we expect to see continued growth and expansion in 2019. The industry took great steps forward this year, and customers became wiser to issues like cybersecurity. We have also seen increased interest in how analytics can be applied to help make better security decisions, provide valuable business intelligence and make cities smarter. 2019 will be a year of innovation at Hanwha with the continued introduction of cameras that are easy to use, install and service. We will release products that are designed for all sizes of installations across a wide range of vertical markets. With new partners and distributors coming on board and an impressive product roadmap, we are very optimistic for all that 2019 will bring.
I'd say "very" – this year was a strong year for the physical security market and in particular, the rise of collaborative efforts in building centralised management of security operations through intelligent global security operations centers (GSOCs). Not only do we have the more traditional sectors of the market being represented in these installs – like video surveillance, access control and intrusion/fire alarms – but now we're incorporating solutions with more intelligence that offer operators greater situational awareness and a common operational picture that allows for more informed decision-making. We've been fortunate to be at the forefront of making these "GSOCs of the future" a reality for a number of clients, and we anticipate that interest will only grow as more solutions are incorporated and the needs arise to ensure they're properly installed for operators.
I am optimistic that the physical security industry will continue to grow and expand in 2019, largely due to the fact that the prevalent threats and risks facing the world today will no doubt carry over into next year. The unfortunate tragedies we’ve seen in 2018 will contribute to more and more enterprise organisations prioritising the implementation of comprehensive and reliable security solutions. This idea is supported by recent research from Future Market Insights that estimates the global physical security equipment market will experience “staggering growth” over the next few years, reaching nearly $64 billion by the end of 2022. Additionally, the emergence and maturation of the latest innovative technologies, such as artificial intelligence and deep learning, will certainly continue to positively impact the physical security industry by enabling manufacturers to design the most valuable, proactive and intelligent products and systems that end users desire.
The physical security industry is facing increasing threats from everything including natural disasters and intentional destruction. To do more with less, I expect we will continue seeing momentum around robotics integration by security professionals and security solution developers alike. They will look to deploy solutions that provide real-time access to information and greater situational awareness for immediate action. Thanks in part to the growing economy, coupled with the development of more technology-focused security solutions—like robotics—that leverage the benefits of artificial intelligence and network connectivity, more security professionals are investing in their security programs to implement newer technologies that are now readily available, reliable and more affordable.
The consensus outlook for the new year among our Expert Panelists is overwhelmingly positive. A continuing need for better security will continue to increase demand, while technology developments in a number of categories – from robotics to GSOCs to video analytics – will expand the technical capabilities of our industry as a whole. We join the Expert Panel Roundtable in wishing everyone a happy and prosperous new year … and we can expect just that based on our panel’s optimistic outlook!
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