Market Insight: Building Security And Safety Investment Trends 2023

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Executive Summary

Security and safety concerns have always been a critical component of how organizations run their businesses and facilities. However, many leaders are recognizing that more needs to be done to manage risk and address evolving threats. Verdantix interviewed 303 senior real estate and facilities management decision-makers at mid to large enterprises across 13 countries and 13 industries for our 2023 global corporate smart building technology survey; of these, 83% plan to improve both their physical and cyber security postures. This report provides directional highlights from the study to help property and business leaders benchmark their intents in addressing security, and aid technology and service providers in understanding investment plans across varied market segments. 

Table of contents

Security is a rising concern for facilities and real estate leaders
Technical innovation is changing the security game
The drive towards integrated security platforms continues
Cyber security demands more attention from facilities leaders
The market is primed to expand its use of third-party security and safety services

Table of figures

Figure 1. Real estate and facilities management portfolio initiatives planned for the next 12 months
Figure 2. Organizational plans to enhance building security, 2022 and 2023
Figure 3. Organizational plans to enhance physical building security by geographic region
Figure 4. Organizational plans to improve cyber security risk management by geographic region
Figure 5. Impact of technology innovation on real estate and facilities processes over the next five years  
Figure 6. Impact of technology innovation on security and safety processes by geographic region
Figure 7. Spending plans on integrated building security platforms
Figure 8. Spending plans on integrated building security platforms by geographic region
Figure 9. Spending plans on integrated building security platforms by industry
Figure 10. Use of commercial software for select facilities and real estate processes
Figure 11. Use of commercial software for building cyber security by geography
Figure 12. Use of commercial software for building cyber security by industry
Figure 13. Planned use of security and safety service providers over the next three years
Figure 14. Planned use of security and safety service providers by geographic region
Figure 15a. Planned use of physical access and security service providers by industry
Figure 15b. Planned use of cyber security service providers by industry
Figure 15c. Planned use of fire and safety service providers by industry

About the authors

Sandy Rogers

Principal Analyst
Sandy is a Principal Analyst in the Verdantix Smart Buildings practice. Her current research agenda focuses on the intersection of IT and OT digital strategies and technologies, including the IoT landscape. Sandy’s experience prior to joining Verdantix includes work as a research director and technology industry analyst in IT service technologies and operations at Forrester, and at IDC, where she covered software, vertical markets and web services. Sandy has worked in competitive research and strategy consulting at Fuld & Company and developed research for thought-leadership at Deloitte. She holds a Business Degree in Marketing and Management Science from the University of Rhode Island.

Claire Stephens

Research Director, Smart Buildings
Claire Stephens is Research Director of the Smart Buildings team. With 18 years of experience in the sector, Claire is recognized as an expert in industries that make up the built environment, in particular, corporate and commercial real estate, and workplace and sustainability technologies. At Verdantix, Claire will be digging into building technology for building owners, occupiers and investors, focusing on how to support them in reaching their ESG objectives. Prior to her arrival at Verdantix, Claire launched Asia’s first corporate real estate, green building and building technology publications. She has also delivered full lifecycle real estate consultancy services covering a broad range of asset types in industries including financial services, oil and gas, pharmaceuticals, technology, consumer goods, media, retail and hospitality.

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