Counteracting these macroeconomic forces, the pandemic has also created a demand for new solutions to help control the spread of the virus. Physical security products have risen to the challenge, helping to implement social distancing protocols through existing access and video systems with AI-powered analytics. Thermal cameras have also been deployed to measure people’s temperature, with the demand for it being strong. However, their usefulness has been questioned, with the World Health Organization saying that on its own temperature screening “may not be very effective.”
Despite all this, we are still confident of the industry’s robustness and prospects for growth over the medium to long term. Market drivers like the threat from terrorism and crime are unlikely to abate, while urbanization and smart infrastructure will further drive demand for more and better security systems.