According to a recent survey conducted by Capital One, more than half (52 percent) of security industry professionals see video surveillance as the technology trend that will have the biggest impact on their businesses in the coming years. That’s a significant increase from 2015 when only 23 percent of respondents answered similarly.
The growth of interconnected devices (the Internet of Things) was cited as the next most significant trend at 28 percent. The survey was conducted at the Honeywell Connect conference held in Florida earlier this month and included 123 responses from a combination of dealers, integrators and other industry professionals.
“This year has been particularly transformative for the security industry,” said John Robuck, Capital One’s Managing Director of Security Finance. “The key drivers were significant advances in technology and business model changes resulting from those advances. Video surveillance technology, along with interconnected devices, are revolutionizing the industry and delivering more sophisticated data and analytics to security companies, allowing them to update their security processes and refine their business strategies.”
In line with last year’s survey results, respondents continue to be optimistic about the financial health of the security industry with 87 percent expecting improved financial performance in the coming year. This optimism is evident as mergers and acquisitions continue to shape the market; more than two-thirds (69 percent) of security system professionals expect to complete at least one acquisition in the next year, while 23 percent of respondents said they are looking to complete at least three acquisitions—up slightly from 2015.
In addition, 42 percent of respondents expect new lines of credit to be the most important type of financing for the industry in the next 12 months, followed by acquisition facilities (35 percent), refinancing of existing debt (15 percent) and leveraged buyouts (9 percent).
“The security industry continues to grow and innovate each year, and our recent survey reaffirms a positive outlook for the sector,” said Robuck. “Our team is well-positioned to work with companies and investors to take advantage of the changing technology and overall confidence in the industry."
