Market Trends of Latin America Physical Security Industry
Video Surveillance Systems Are Expected to Hold a Significant Market Share
- The need for video surveillance has increased due to the increased rate of criminal activity. Security organizations are preparing to develop more sophisticated versions of existing CCTV software, as it has become essential for both civilian and corporate entities to take security measures.
- The growing demand for security and surveillance services due to the rise in criminal activity is creating the need for sophisticated solutions, such as robots, that can evaluate real-time occurrences and provide a live view to the security officer. Commercial security robots are increasingly becoming crucial in the security and surveillance of commercial buildings and sites. Violations of security regulations can have serious repercussions not only on the company but also on the broader community and economy. These factors force robots to ensure facilities' security through surveillance and related security measures.
- In May 2023, the Argentine government announced that it had increased the resources available to federal security forces in the region to combat drug trafficking and violence. Additionally, the government declared it planned to install 600 surveillance cameras with face recognition software in Rosario and establish a branch of its Anti-Money Laundering Agency to address drug-related financial activities.
- Organizations and individuals are increasingly acknowledging the necessity of proactive security protocols, leading to increased demand for comprehensive physical security systems incorporating sophisticated video surveillance capabilities. For instance, the Federal District Court, Brazil, implemented a district-wide security system in June 2023 to protect defendants from escape during the trial and to detect potential criminals roaming its premises. The system was equipped with intelligent video analytics from Axis Communications and Bosch, all integrated with the open platform Milestone Xprotect Expert video management software (VMS).
- The use of AI in video surveillance has surged recently as several end users have become aware of its capabilities and advantages. AI-powered video surveillance systems can improve safety and operational efficiency and reduce costs. Mexico is a significant security market in Latin America owing to its size, prominent industries, growth, and overall demand.
- Security is a highly dynamic sector of the economy. In 2022, approximately 60,548 private residences were reported as having been burglarized. As the number of burglaries in Mexico has been on the rise in recent years, the issue of safety and security remains a pressing concern for citizens.
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Brazil is Expected to Witness Significant Market Growth
- Biometric data is stored securely and encrypted, protecting sensitive personal data. As biometrics become more widespread, various sectors are beginning to recognize their benefits in terms of productivity, user-friendliness, and security. This increasing recognition prompts the need for physical security solutions incorporating biometrics.
- In August 2023, Valid and Innovatrics developed a biometric system to be used for school roll calls across Brazil. It was expected to be revolutionized by the implementation of face biometric technology. This new system was implemented in Paraná (Brazil) to reduce the time spent on roll calls by up to 80%. The detection software extracts the face of each student from the photographs. Such a rise in biometric systems across Brazil will likely boost the physical security market.
- In January 2023, the Brazilian police announced plans to use facial recognition technology to identify protesters who had vandalized government buildings, further intensifying state control in a development that raised concerns among privacy and human rights advocates. Thousands of protesters had vandalized the Supreme Court, Congress, and presidential offices in the city of Brazil, leading to the arrest of approximately 1,000 individuals. The police had previously stated that biometric data would be used to identify the perpetrators of the vandalism.
- Vehicle break-ins are becoming increasingly prevalent, increasing the demand for physical security solutions. For instance, in Brazil in 2022, there were 225,200 reported vehicle break-ins, an increase of 188,900 from the previous year. These statistics raised awareness regarding the need for improved protection and prevention measures, increasing the demand for advanced physical security solutions.
- The Brazilian electronic security sector had projected a positive outlook for 2023, with increased demand from both public and private sectors for AI and 5G solutions and efforts to address economic and regulatory challenges.
- In December 2022, the Brazilian subway system of Sao Paulo Metro implemented ISS face biometrics technology on Line 3-Red. This system is capable of identifying and tracking objects. As a result of the project, approximately 1,400 cameras were installed across 18 transit stations, of which 945 were new models that replaced older models. The system also included passenger flow control and other measures to enhance passenger safety.
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