Market Insight: Physical Building Security Hovers At The Digital Tipping Point

Security, the sleeping giant of proptech, is stirring. Many organizations have traditionally approached physical security technology investments rather conservatively, seeing them as a mandatory cost of doing business. They have also typically implemented security solutions in silos, with security control and management software commonly being dedicated facets of particular device-based systems. Enterprises now require greater situational awareness from all their disparate security systems and are increasingly prioritizing integration capabilities, advanced analytics and user experience as critical decision points. As IP-based systems and Internet of Things (IoT)-connected devices proliferate across the enterprise and security space, the market is becoming more cyber-physical in nature – and with it, increasing capabilities to capitalize on data and digital innovation. The time is nigh for the software side of the security market to take off. Corporate business and facilities leaders should use this report to understand how the market for physical security is changing and to ensure they take advantage of advancing capabilities.