You may want to read this through sunglasses. That’s how bright the future is for commercial market security practitioners right now.
This is particularly true for those adapting to how video and access control advances can be exploited, meeting the rising user demand for their expanding capabilities, and evolving their service offerings to capitalize on emerging opportunities.
Hopefully, by the time you read this, the promise of vigorous 2025 business for the security industry that was articulated at the Security Investor Conference (SIC) — 2024’s final significant event — will already be becoming evident.
The litmus test will be at ISC West 2025, scheduled for March 31 to April 4 in Las Vegas, which I expect to be booming with electricity in the air.
Security Market is Especially Active
At the SIC, SSI Industry Hall of Famer John Mack, head of Imperial Capital’s security group, noted the year would be an especially active one for mergers and acquisitions at the provider (dealer and integrator) level, representative of those companies aggressively leveraging new technologies and services and those instead choosing to exit.
In fact, that consolidation was the top trend he highlighted, closely followed by remote video monitoring and guarding.
Also, during the SIC, the Security Industry Association (SIA) unveiled its 2025 Security Megatrends. I want to point out a few supporting my above assertions:
- Number 1: evolution of the channel;
- Number 2: AI; intelligent automation of security;
- Number 4: visual intelligence, not video surveillance; and
- Number 5: IT-OT-security convergence.
All these developments aim to boost efficiency and effectiveness, security and safety, and the value of data aggregation, while reducing costs and human error.
Remote video guarding is one of the most successful, impressive and practical manifestations of these trends — and an enormous opportunity for integrators, typically by partnering with video-centric third-party monitoring firms.
The service — which when optimized eliminates noise and false alarms, never misses an event and directly prevents crime in real-time through live operator voice-downs and receives priority police response when needed — allows integrators to be of higher value to their end-user customers and generate more recurring revenue than ever before.
It also opens a whole new market for integrators, which is augmenting or entirely replacing human guards. For many decades, electronic security and guards were mostly two entirely separate industries, aside from the odd dealer that offered both or had their own guards to respond to alarms. However, technology is closing the gap and powering a new area of convergence.
Relying on Tech
Human guards are increasingly relying on tech to be more efficient, and electronic security pros are deploying visual, automated and response technology that does a superior, more cost-effective job while also keeping people out of harm’s way.
Similar benefits extend to law enforcement, as remote video guarding avoids wasting strained manpower resources and improves both response outcomes and officer safety. This has led to guard companies acquiring and expanding their video and automation capabilities, such as Prosegur’s recent purchase of Stealth Monitoring.
The reality is that, with the advancements of technology coupled with the rising cost and scarcity of labor, guard companies cannot continue their current path.
At October’s Securing New Ground, Allied Universal CEO Steve Jones told the audience his company, which employs a force of 350,000 guards in the U.S., conducts up to 70,000 interviews per week to maintain a pace of 4,000 weekly hires! That is not sustainable. Little wonder that Jones said he is a huge believer in technology, and that the optimal solution is a combination of manpower and tech.
This merging of electronic and human security has been documented by Robert Perry & Associates, the foremost tracker of the U.S. contract security market. Its reports have acknowledged the interest, necessity and active adoption by guard companies of video monitoring, systems integration and other non-traditional services.
Video Monitoring Guards Will Not Be Usurped
According to this market analyst, while guards will not be usurped it is likely some of their responsibilities will change as the industry migrates toward integrated guarding, that is the combination of onsite manned guarding with remote video and mobile vehicle patrol.
Eventually, drones and robotics will further disrupt the guarding industry, while still presenting additional opportunities for integrators and monitoring firms.
Now is the time to revisit existing customers that employ guards and expand new sales opportunities to incorporate real-time video monitoring and crime prevention.
