Physical Security in the U.S. Retail Market

In recent years, equipment vendors and service providers in the physical security industry have evolved their business models from selling discrete products to a more solution driven strategy. Fundamental to this transition has been a greater focus on the end user. Instead of promoting standard devices across different vertical markets, manufacturers, systems integrators and consultants are working together to build solutions designed to meet the specific requirements of each customer. Consequently, understanding the demands of a physical security end user is more important than ever before. What is their opinion of cloud or artificial intelligence technology? Why did they choose their service provider? What would make them change providers? Where do their security budgets come from, and will they increase in the future? Physical security in retail is difficult. Consumers must be able to access most of the store, making perimeter security challenging. Security solutions must be discrete so as not to impact sales. Retail is also an industry in transition. More sales are moving to e-commerce, reducing the need for brick-and-mortar stores, and video analytics solutions are creating new opportunities and challenges for vendors and service providers. The Security Industry Association (SIA) has partnered with IHS Markit, one of the world’s leading research firms, to produce this white paper for SIA members. This paper will:

• Quantify the market opportunity for physical security equipment and services in the retail market in the United States
• Discuss the main trends and market drivers impacting the physical security industry in retail with a focus on transformative technologies
• Present the results of a survey of 50 retail physical security end-users in the U.S., covering topics such as technology acceptance, service provider decisions, business intelligence applications and budget planning

MORE SIA VERTICAL MARKET REPORTS FROM IHS Markit and OMDIA:

• Physical Security Vertical Market Assessment: U.S. Airports (2023)
• Physical Security Vertical Market Assessment: U.S. Higher Education (2023)
• Physical Security Vertical Market Assessment: U.S. Cannabis (2022)
• Physical Security Vertical Market Assessment: U.S. Data Centers (2022)
• Physical Security Vertical Market Assessment: U.S. Banking and Financial (2021)
• Physical Security Vertical Market Assessment: Federal, State & Local Government (2021)
• Physical Security Vertical Market Assessment: K-12 Education (2021)
• Physical Security Vertical Market Assessment: Health Care (2021)
• Physical Security Vertical Market Assessment: U.S. Office Buildings (2020)
• Physical Security Vertical Market Assessment: U.S. Power Generation, Oil & Gas and Water Treatment Sectors (2020)
• Physical Security in the U.S. Education Market (2019)
• Physical Security in the U.S. Health Care Market (2019)

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