Market Trends of North America Physical Security Industry
Video Surveillance Systems Are Expected to Hold a Significant Market Share
- The surveillance camera is one of the most crucial components of physical security. Surveillance cameras give criminals a moment of hesitation, often enough to stop them from committing a crime. For instance, in May 2023, the Detroit Police Department (DPD) requested additional vehicle surveillance through the installation of 100 automatic license plate readers. The proposal suggested the structure of four clusters of high-speed cameras at 25 intersections across the city, focusing on areas where vehicles have been reported stolen and recovered.
- Additionally, in July 2023, Roosevelt Island's security camera system was completed, marking a significant milestone in implementing the 10-point Public Safety Plan. The upgrades to the system included the potential to integrate Roosevelt Island's camera system with that of the FBI and New York City Police Department in the future, enhancing law enforcement's capacity to respond to and investigate reported crimes. The system includes adding island cameras, implementing cloud video monitoring, and implementing hardened cybersecurity software.
- In recent years, private-sector, retail, and commercial establishments in the United States have seen an increase in the use of surveillance cameras. In April 2022, Beverly Hills saw an increase in the number of security cameras placed on its streets. This increase in security cameras was more comprehensive than those mounted on street signs, as the police department utilized drones and automated license plate readers. The Beverly Hills Police Department is expected to be able to monitor the live feeds from these cameras in real time.
- Retail store owners are particularly vulnerable to theft and inventory shrinkage, which can have a significant financial impact on their business. Rising retail stores across North America, primarily in Canada, are boosting the demand for physical security systems, such as surveillance cameras, which can reduce the likelihood of these losses.
- For instance, according to Statcan, in terms of retail trade location, Quebec had approximately 32,400 retail stores in 2022. Additionally, in February 2023, Quebec's provincial government responded positively to the announcement of integrating AI into a retail store chain's Closed-Circuit Television (CCTV). The CCTVs have been equipped with software trained to detect suspicious behavior in retail stores, such as shoplifting.
- Airports in the region are beginning to recognize the advantages of utilizing sophisticated surveillance solutions to generate operational intelligence and gain comprehensive situational awareness. Airports across the United States may benefit from implementing facial recognition technology to enhance security measures. In May 2023, TSA (Transportation Security Administration) said it is currently testing facial recognition technology at several airports nationwide. Currently, the technology is in use at 16 airports in the United States.
Understand The Key Trends Shaping This Market
Download Sample
The United States is Expected to Witness Growth
- The development of video analytics is expected to benefit significantly from the United States, as many prominent businesses in the country necessitate more sophisticated security surveillance solutions. This is primarily due to the availability of advanced technology, the growing demand for real-time actionable data from businesses, and the nation's growing need for advanced public safety systems.
- Surveillance cameras in the United States are becoming increasingly popular as an alternative to traditional analog cameras. These cameras have advanced facial recognition and subject identification capabilities, enabling them to acquire surveillance footage and continually create a vast public database. Additionally, the country's democratic system strongly encourages the implementation of CCTV systems.
- Closed-circuit television (CCTV) systems have a variety of applications, ranging from traffic surveillance to crime prevention. However, the need for physical security systems such as surveillance cameras has grown with the advent of high-resolution video streams, remote access to live streams, and the implementation of technologies such as facial recognition and ring doorbell cameras. For instance, in March 2022, some of the United States' most populous cities were subject to extensive surveillance, with an average of 6 cameras per capita, while the most heavily monitored city, Atlanta, had an average of nearly fifty cameras per capita.
- Physical security helps keep data safe by blocking access to places where it is stored; it also helps protect against cybercrime. Things like RFID key cards, phones, and cameras are all connected to the internet, so hackers can quickly get into them. For instance, according to the FBI, in 2022, California was the leader in cybercrime losses, with over USD 2 billion reported. Florida was second, with around USD 845 million in losses, and New York was third, with USD 777 million.
- In December 2022, representatives of the Dallas City Council and the Dallas Police Department announced plans to expand the monitoring of the city's 7,200 cameras that could potentially assist in resolving or preventing criminal activity. Currently, pole-mounted cameras throughout the city and Starlight cameras at convenience stores are linked to the Fusion Center within Dallas Police Headquarters through live monitoring. The Fusion Center's software and computers alert the police regarding which events are being monitored on which cameras.
- In March 2022, i-PRO Americas Inc., a provider of professional security solutions for surveillance and public safety, announced a collaboration with Extreme Networks. Together, they aim to develop new technology that will significantly enhance large-scale physical security systems' deployment, scalability, and reliability. Through this partnership, a cutting-edge solution was created that offers an agile and dependable virtualized network, empowering users to deploy advanced intelligence at the edge effortlessly.
Get Analysis on Important Geographic Markets
Download Sample
