Is the Security Industry Growing?

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economic outlook on security growth

Security experts noticed an interesting trend during the Coronavirus pandemic. People in both rural and urban areas began to invest more in security costs. This is true of both individuals and businesses. Many people already felt on edge because of the tense political climate and global unrest of the past few years. The pandemic and lockdown added even more tension in the form of rising costs, materials shortages, and a general sense of uncertainty about what the future holds. Surprises occur daily.  All of these factors generate fear. The uptick in spending on security has not let up in recent years. As a result, the economic outlook for commercial security has gotten a lot more optimistic.

Globally, a growing number of individuals report a general feeling that they are unsafe. Many people are realizing the peace of mind a good security system offers. In today’s world, the reasons many people are seeking more security are valid. Crime is rising. Social unrest seems to pop up in unexpected areas every night. Crime is no longer only a city problem. People are taking the need to protect their families and their livelihoods more seriously than ever before.=

Here are some statistics on the unprecedented security industry growth.

  • The multi-billion-dollar security industry is projected to double in value by 2030.
  • Americans are increasing security at a higher rate than people in other countries.
  • Many businesses are increasing security to mitigate supply chain issues because many of the time-consuming problems are caused by criminal actors, not uncontrollable circumstances.

The Future of the Commercial Security Industry

One reason analysts predict growth in the commercial security sector is the rise of profits in most industries. Historically, when profits rise, businesses use the windfall to invest in more protection. Business owners should recognize the need to review security systems before the industry growth increases. If the need for more security continues to grow at the current rate, customers can expect to find it more difficult to locate safety experts in the next few years. New security companies are not opening at the same rate that the demand is increasing.

Another aspect driving the recent growth in the security industry is technological advances. In the security industry, tech changes daily, taking pressure off of employees to be the only source of security. Businesses are choosing to implement more automatic security solutions that protect without needing much maintenance or attention from employees. More than ever the security options available are seamlessly connected with one another so that no entry point is left unguarded and no person left unprotected. But it’s all out of the hands of your employees, so they can focus on your customers. When human beings make mistakes, tech serves as a safety net from potential damage. 

The ease with which people can travel the globe and the return to traveling at pre-Covid numbers is also straining the security industry. Airports are attempting to expand the number of security officers throughout their terminals and on the ground. One place they often find trained and experienced security officers is the private security firms. The need for security personnel is always rising. Former law enforcement officers and people with military experience are the most sought-after candidates. A young person who wants to explore a career in security solutions should start their exploration there. Many security firm owners began their career by protecting the public.

How Businesses Can Prepare for the Economic Outlook for Commercial Security

Whether crime is truly rising isn’t important. The perception of danger is rising as people are more aware of terrorism and need-based crime. Even the government is straining to hire the personnel it requires and that leaves the private security industry to assist. The best way businesses can prepare for the looming shortage of security officers is to update their automated safety features like entry point systems, surveillance systems, notification systems, and fencing. Hopefully, you will never have to experience a criminal act against your business, but you should still be prepared for the possibility.

Invite a security professional to your place of business for a security audit. You might not even realize the spaces where you are leaving your business vulnerable to crime. Integrated Security Corp. provides state-of-the-art perimeter security solutions to some of the most sensitive sites on the planet. ISC protects airports, the cannabis grow sites, and nuclear facilities. Poised for growth in the future, ISC can help develop a complete security system ideal for your unique business no matter the location. Contact us today.