With much talk of budget cuts, many US-based
organizations are still willing to pour dollars into their physical security
initiatives, at least according to a recent study from by IMS Research. In fact,
45 percent of end users say that their security budget increased in 2012, the
study found.
"It's clear that end users are still feeling the
risk to their facilities -- and that means there's plenty of opportunity for
manufacturers of physical security equipment," said Niall Jenkins, manager
for video surveillance and security services research at IMS, in a press
statement. "Just having a budget available was actually one of the top two
reasons for end users paying to replace or upgrade their systems as well."
The survey, which polled 200 end users of physical
security equipment across North America, found that the majority of these
organizations are dedicating large amounts of resources to physical security.
In fact, 44 percent reported that their organization's annual budget exceeded
Rs. 5000K.
"Budgets either stayed the same or increased last
year for those that spent approximately Rs. 1Cr and also for 85 percent of the
overall market," Jenkins noted. "I wouldn't say that the security
boom is over just yet."
Even with bigger budgets, users report concerns. Despite investing
in new equipment, buyers say that their biggest worry is that vendors will
suspend support for newly-acquired security products while they are still being
productively used within the organization, the survey found.
Especially as the market in the US transitions from
analog to network-based video surveillance, vendors are shifting their product
mixes and ending support for products, said Jenkins in an interview with IFSEC
Global. "There's also a transition to the use of video analytics, PSIM,
and wireless infrastructure," he added. "In the fire market, you
don't see that pace of development, while intruder alarm and access control are
probably somewhere in the middle."
In addition, some vertical markets feel better served by
security vendors. "The majority of end user markets, when asked about
whether security meet their needs, were positive, but the transportation
industry overall jumped out as one vertical that said the security industry
wasn't meet their needs," Jenkins told us.
So, let us know. Is your budget on the rise? Where do you
plan to invest?
Indian Company also increase there Security Budgets in 2013.
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