The Changing Landscape of the Security Industry

There is no doubt about it, COVID-19 has changed the security industry forever. However, despite the obvious economic impacts, it’s apparent that the industry has still seen some opportunity during COVID-19.

The benefits of touch free biometrics have become a necessity, and the cybersecurity and thermal camera markets are set to grow 12.6% and 6.2% per annum respectively.

According to Hipages, Australia’s biggest online marketplace for installers, demand for home security solutions has also increased by 60% during the pandemic. Home CCTV has risen by 15%, security screens and doors by 20% and home alarm installations has increased by 67%.

Business not as usual. 

The market disruption during these unprecedented times has been undeniable. Slow business, budget and staff cuts have been unavoidable, changing the face of day-to-day business.

Staying connected with buyers and being present in the market is now more essential than ever before in order to come out ahead – but business looks different now. 

According to Peter Bendor-Samual, CEO of Everest Group – where possible companies should use this time to prepare for the upswing and pivot and change to make the most of the opportunities available when the pandemic ends.

Staying ahead. 

With the inability to meet customers face-to-face and therefore a huge spike in digital audiences, screen time has shifted from a sin to a survival tool. Business experts are now emphasising the importance of ‘digital’ in order to stay connected, remain visible and gain a competitive edge in the current market.

Whether out of boredom, necessity, or both, people’s online habits are rapidly changing and after the threat subsides, these are likely to stay – forming the new ‘normal’ for connecting with key decision makers as they make more purchasing decisions online.

The new normal. 

With buyers spending more time online searching for products and services in the absence of face-to-face meetings, trade shows and outdoor advertising – digital marketing may be a business’s best defence against the Coronavirus downturn and beyond according to John Lincoln, CEO at Ignite Visibility and digital marketing instructor.

The digital marketing market is expected to grow by 17.6% in 2020, making it a $380 billion industry – an $80 billion jump on 2019.

With market growth inevitable and a spike in screen time, business strategist Abhishek Vinod Singh, claims that digital marketing is no longer a niche marketing channel but a worthy future investment to reach a large targeted audience as an improved real-time interaction with customers.

A digital opportunity. 

For decades the Security Exhibition & Conference has been the leading trade event where Security professionals from Australia and beyond have come together to discuss innovation, source new products and gain the latest insights.

During these unprecedented times, Security remains a digital nexus for the industry to stay connected, all year round.

Now more than ever, Security’s digital platforms are a powerful way for suppliers to promote their latest products, solutions and insights with an engaged online audience of over 19,000 industry professionals.

The Security Focus Newsletter, bespoke content and premium website exposure, all provide an avenue for security suppliers to accelerate sales through the downturn and reach their targeted audience, away from the exhibition floor.

Taking advantage of increased screen time, new ways of working and understanding the importance of going digital, Security remains the leading platform for suppliers to continue business and prepare for the long haul.

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