Chris Loveridge, Specialist Security Sales Consultant at Hays, shares his thoughts on the current situation in the security market. An expert in all aspects of the Security, Lighting and Electrical markets, he would be happy to hear from anyone interested in this post by email or on LinkedIn.
While it feels like there is a lot of bad news around right now, there is one industry that continues to boom: security. There is still plenty of scope for new technology to be developed and customer demand remains high, as criminals found ways around existing solutions. Furthermore, it is not an area that any company should cut costs on, as this could lead to much greater losses in future.
The CCTV industry in particular is seeing large growth at the moment. While it has been affected by the recession, with many companies going into administration or no longer willing to spend money upgrading their systems, there are signs that this is about to change. A recent Key Note report forecast that the UK CCTV market will rise in value by 30.1% between 2012 and 2016.
There has been a surge in demand recently due to technological advances. In particular, the surge of IP-based systems have helped to improve sales, as companies are keen to upgrade from analogue and take advantage of the flexibility and deeper integration offered by digital systems. For example, an integrated locking solution has recently been launched, which connects to both the access control and video surveillance devices, meaning that a business can be protected more efficiently.
Ongoing threats from terrorism and anti-social behaviour also mean that the security industry will continue to be required. For example, CCTV cameras received a huge boost in the aftermath of the London riots as they helped to play a role in a number of arrests. It is hoped that this success will mean that CCTV is now seen as a deterrent to potential criminals. Ensuring the safety and security of the country becomes even more important with the London Olympics this year.
Are there any other factors that you think are helping to grow the security industry?
