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Every year the State of the Market Reports offer an in-depth review of the five major segments of the security industry: Video Surveillance, Alarm Systems & Monitoring, Access Control, Fire Alarm and Connected Home.
Although the industry remains subject to supply chain disruption, a precarious labor shortage and other headwinds, multiple growth factors are creating a lot of overall positivity across the fire alarm systems marketplace.
Although the industry remains subject to supply chain disruption, a precarious labor shortage and other headwinds, multiple growth factors are creating a lot of overall positivity across the fire alarm systems marketplace.
Customer demand for smart home security systems grew during the pandemic, and with more integrated conveniences available than ever before, shows no sign of slowing down.
Customer demand for smart home security systems grew during the pandemic, and with more integrated conveniences available than ever before, shows no sign of slowing down.
Once relegated to simple locks and card reader panels, access control is assuming a starring role in overall business operations and security integrators are capitalizing on this trend.
In spite of some major drawbacks, the market for video surveillance grew significantly from 2020 to 2021, and observers expect more of the same in 2022 and beyond.
Supply chain issues, hiring challenges and ongoing COVID-19 concerns may have shaped 2021, but none of these were able to put a damper on the steady growth of demand for video surveillance products and services.
2020 was a tough year in the fire market for many. Improvements in technologies and the impending cellular sunset came up against supply chain issues and a talent shortage that made it a difficult-to-meet demand.
It’s amazing how much can change in a year. Last year’s state of the market report on access control was released at the beginning of April, just as the coronavirus started to spread throughout the U.S., and much of the research that went into the report was done before COVID-19 was a real concern.
While 2020 affected the confidence of some in the video market, professionals remain optimistic going into 2021, with the increased adoption of new, more advanced technologies, and a potential end to the coronavirus pandemic in sight.
The fire alarm industry experienced another good year, full of further adoption of technological and code changes, along with self-created opportunities to increase revenue.
The typically steady fire and life safety industry saw growth in 2019, with overall global revenues surpassing $7.5 billion, according to David Gonzalez, research analyst, physical security and critical communications, Omdia, London.