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INSIGHTS

ISC West 2022: State of US market – Red hot

ISC West 2022: State of US market – Red hot
ISC West can be a good indicator for the state of the US security industry. Indeed, with overwhelming attendance at this year’s show, most exhibitors we interviewed gave positive assessments of the US market.
ISC West can be a good indicator for the state of the US security industry. Indeed, with overwhelming attendance at this year’s show, most exhibitors we interviewed gave positive assessments of the US market.
 
ISC West is typically a good barometer measuring the status of the US security market. And this year the positive energy and momentum felt at the show gave exhibitors a sense of hope about the industry. “Based on the vibe of ISC West this year, we are feeling more confident about the US market than we have been in the last couple of years. We are expecting growth this year to outpace the previous year,” said Kyle Hurt, Senior Sales Director for USA at Genetec.
 
“As indicated by strong attendance and a busy show floor, the US security market continues to be resilient and strong. Technology has continued to evolve throughout the pandemic, and we expect to see increased adoption of these technologies to help further grow the market through 2022 and beyond,” said Matt Winn, Senior Director for PR and Corporate Communications at HID Global.
 
“We feel that the strong turnout for ISC West 2022 indicates that the US security market is continuing to rebound with gathering momentum as the industry evolves as a whole to grow and adapt to new technologies, as well as the ever-changing environment around us,” said Jeremy Hayes, VP of Sales and Marketing at OPTEX.
 

A rising US economy

 
Further, growth momentum seen in the US economy also bodes favorably for the US security industry. According to World Bank forecasts, this year US’s GDP is expected to rise 3.7 percent year-over-year, compared with -3.4 percent for 2020, indicating a rebound is indeed taking place. This has prompted end user organizations to launch new projects, triggering security demand.
 
“Everyone we spoke with had the same story: they were as busy as ever, both in terms of catching up with a backlog of projects from the pandemic, as well as quoting and installing new projects,” said Tom Buckley, Co-Founder of Qumulex. “That mirrors our pipeline, with the number of quotes by integrators for our product up significantly in the last three to four months.”
 
“There are plenty of opportunities to thrive in the US security market, based on (1) market growth and (2) innovation interest. The US market is predicted to grow further over the course of 2022. More specifically, US parties are increasingly interested in deploying flexible solutions involving AI analytics algorithms,” said Gijs van den Heuvel, Chair of Marketing at the Open Security & Safety Alliance (OSSA).
 
Indeed, interest and demand for new technologies and solutions are expected to further accelerate the growth of the US security market.
 
“There was a high level of interest in new products and technology, especially in NDAA products, 5G technology, LPR and analytics,” said Leon Jiang, VP of Milesight. “We do expect there to be good growth in the market.”
 
“US security market is booming and there is lot of demand for the new technology and solutions. The customers are getting smarter and smarter and are demanding some out-of-the-box solutions,” said Manish Dalal, President of ZKTeco USA. “Our industry are seeing lot of new players entering the industry both in hardware and software offerings. It is very exciting time to be in this business at this juncture. There is tremendous opportunities of growth both in the new business and retrofits and upgrading of existing infrastructure.”
 
In addition to security, US end users are also relying on technologies and solutions for non-security applications, especially in the post-pandemic era. This is also expected to drive US security market growth.
 
“We continue to see strong, steady growth in the US security market and anticipate it will follow that same trajectory throughout 2022. In the US and internationally, as COVID rates decline, we’ve seen more organizations return to offices and more foot traffic in public areas. With this return to normalcy, organizations are continuing to prioritize safety and security and looking to cloud-based solutions that offer flexibility and scale,” said Alex Asnovich, Senior Director of Global Marketing for Video Security, Access Control and Critical Communications at Motorola Solutions.
 
“From a business standpoint, activity is as busy as we’ve ever experienced. I believe that evolving technologies and new customer needs – spurred by the pandemic – have produced new market opportunities, new use cases and increased demand,” said Larry Newman, Senior Director of Sales for Americas at Axis Communications. “From managing curbside pickup and providing touchless entry to determining store occupancy and reducing shrinkage, businesses are gaining more value from their network security solutions in the form of enhanced safety, operational efficiencies and business intelligence. All of this bodes well for the industry and its future.”
 
In the face of strong growth in US security, constantly innovating and meeting end user demands is key to winning out.
 
“We’re seeing changes in several industries across the US and the security market is no exception. It’s been my experience that we need change in business to innovate new products and continue to serve our customers current needs while predicting what they’ll need in the future. I think for companies steeped in innovation, like Turing AI, there is tremendous potential for growth in this industry,” said Yi Jin, VP of Marketing at Turing AI.



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