While more and more people and big corporations acknowledge the importance of advanced, sophisticated , the physical security industry is flourishing. At least this is the conclusion revealed by a recent report introduced by MarketsandMarkets. The numbers clearly reflect the fact that high demand is expected to boost the popularity of biometrics technology and video surveillance, leading to the creation and implementation of new applications, and ultimately ensuring the highest level of protection for both residential and commercial buildings in the years to come.
According to these optimistic predictions, the physical security industry could easily reach a new record value of $85 billion in less than 5 years, recording a $30 billion growth while compared to its current value of $55, at a global level. This means that first-class manufactured to prevent unauthorized entry, property crimes, terrorist attacks, theft, or espionage will gradually become much smarter and much more popular over a relatively short period of time, all across North America.
The recent data “projects the North American market will grow as a result of greater demand for video surveillance, access control, intrusion detection and, most recently, biometrics. Biometrics is expected to grow in a significant manner in the next five years. There are a significant amount of research and development investments being done by the tier-1 accounts in this market,” explained Manvi Garg, a MarketsandMarkets research analyst.
Therefore, building owners and homeowners will most likely become more motivated to invest in cutting-edge technology developed to guarantee their safety 24/7, in any given set of circumstances, while effectively preventing a wide range of security threats.
After taking a closer look at the North American market,experts have reached the conclusion that video surveillance is the number one preventive measure taken into consideration by security-conscious individuals and corporations, with the most significant number of installations and also leading in terms of accounted revenues. Even so, biometrics technology also seems to be doing well, especially since reputable providers plan to launch new applications, based on facial, iris, and fingerprint recognition, which will be received with great enthusiasm by enterprises and government institutions. The recent predictions made by MarketsandMarkets reveal that perfected biometric technology will become increasingly popular by 2018, triggering an elevated market acceptance.
There have been higher levels of awareness and forthcoming consent to security products and solutions in all the major cities, states, and nations,” concluded Garg.
Biometrics technology and video surveillance upgrades will undoubtedly help millions of people attain peace of mind, knowing that they are protected at the office at all times. An increased level of awareness, correlated with accessible might also motivate the owners of residential properties to invest in new security features, enabling them to feel safe and comfortable in their own homes.
Author – Gary has been with us for 3 years, but already has expert knowledge of the home security industry. He’s in charge of company research and news. Zach works to ensure that the site provides the most accurate and timely news in the industry.