State of the Market Series

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Despite continuing battles with the supply chain, spiking inflation and other obstacles, the video sector remains on a robust, upward trajectory. 

Although the industry remains subject to supply chain disruption, a precarious labor shortage and other headwinds, multiple growth factors are creating a lot of overall positivity across the fire alarm systems marketplace. 

Customer demand for smart home security systems grew during the pandemic, and with more integrated conveniences available than ever before, shows no sign of slowing down.

Security professionals reveal their thoughts on the security, monitoring and smart home markets.

It’s amazing how much can change in a year. Last year’s state of the market report on access control was released at the beginning of April, just as the coronavirus started to spread throughout the U.S., and much of the research that went into the report was done before COVID-19 was a real concern.

While 2020 affected the confidence of some in the video market, professionals remain optimistic going into 2021, with the increased adoption of new, more advanced technologies, and a potential end to the coronavirus pandemic in sight.

The typically steady fire and life safety industry saw growth in 2019, with overall global revenues surpassing $7.5 billion, according to David Gonzalez, research analyst, physical security and critical communications, Omdia, London.