Pro-Vigil, a provider of remote video monitoring, management and crime deterrence solutions, released its third annual “The State of Physical Security" research report. It revealed that amid ongoing supply chain issues and emerging economic uncertainty, businesses experienced a rise in physical security incidents in 2022.
The report found that many businesses have not updated their security strategies, despite believing these incidents will continue to rise in 2023.
To better understand the physical security threats businesses are facing today, and what they are doing to combat them, Pro-Vigil polled 149 operations leaders across a range of industries including construction, dealerships (car/truck/boat/RV), retail and manufacturing, among others.
Key findings from the survey include:
Physical Security Incidents Continue to Rise
- 28 percent of respondents saw an increase in physical security incidents in 2022, matching the mark from Pro-Vigil’s 2021 survey and up from just 20 percent in 2020.
- 39 percent believe the state of the economy is the cause behind rising security incidents, while 26 percent believe the supply chain is to blame.
- 91 percent believe the number of physical security incidents will increase or stay the same in 2023.
Security Incidents are Impacting Business Operations
- When it comes to the type of incidents impacting businesses most, almost half (48 percent) say theft is to blame.
- These incidents are having real business impacts, with 40 percent of respondents reporting project delays and 25 percent reporting their cash flow has taken a hit.
Businesses Fearful, Yet Security Strategies Remain Outdated
- Despite more than 90 percent of respondents saying security incidents will stay the same or increase in 2023, 42 percent have not changed their security strategy.
- Less than half, 41 percent, are using Remote Video Monitoring to secure their business.
- Construction businesses, in particular, are facing an elevated threat with 66 percent reporting at least one security incident in 2022. However, 43 percent did not change their security strategies.