While technology has undoubtedly advanced over the years, actual new, innovative technologies within the security industry have been lacking; this has been observed by security players at trade shows around the world. It is true that resolution has gotten better, compression has gotten smaller, and storage has gotten bigger, but these advances are the result of basic technology laws that note the inevitability of technological progress. Therefore, the real change over the last few years has been changes in the market.
- Cities Become Safer and Smarter
Now that IP surveillance has become standard and the global economy is recovering, more and more governments are implementing safe city initiatives, giving the security industry plenty of opportunities to capitalize on these large-scale projects. The importance of safe city projects can be seen in the number of major manufacturers that are now offering safe city solutions.
- Mergers and Acquisitions
As in any industry, consolidation is bound to happen. M&As in the security industry are common as the industry has always been highly fragmented. Easily one of the most impactful was Canon’s acquisition of Milestone Systems in June 2014 and Axis Communications in February this year.
- No Stopping Chinese Manufacturers
The impact that Dahua and Hikvision have had on the current video surveillance industry is indisputable.
- Other Asian Manufacturers Get Knocked Down, but Will Get Up Again
Asian manufacturers have been hit the hardest when it comes to how Dahua and Hikvision have impacted the market.
- Focus on SMBs
For a long time the security market ignored the small and mid-sized business (SMB) market, opting instead to target larger, professional markets like government or enterprise. However, as competition within the industry grew fiercer, companies began looking for new markets to target — enter SMBs.
It is difficult to predict what will happen in the future, but based on the past years, it seems like anything can happen. While M&As will definitely continue to consolidate the industry, we hope that this can spark some much needed innovation. Also, as IP in video surveillance has reached maturity, we will see adoption by the access control market increase at a faster rate than it did in video.