Campus Security Market to Continue Growing In Response to Incidents
The campus security market is expected to reach $2.8 billion by 2021.
- By Sydny Shepard
- July 03, 2018
Due to recent, tragic incidents on campuses across the country in the last few years, the campus security market has seen consistent growth. In a market overview conducted by IHS Markit, the market is expected to continue to grow an average of one percent annually, reaching $2.8 billion by 2021.
The overview notes that while the number of mass shootings in the country has remained relatively consistent in the last 30 years, the number of shootings on campuses have reached an unprecedented high in the past five years. Because of this, the security industry, especially those working with video surveillance and access control, can expect to see a boost in revenue in the next few years.
The overview outlines which security measures manufacturers are looking to implement to improve school safety, including facial recognition, identity management systems, multipoint locking systems, high-security doors and weapons checks using metal detectors or x-ray machines at school entrances.
The analysis made by IHS Markit is that the potential of "greenfield" projects will fall since there is a growing number of schools in the United States with video surveillance, electronic access control and other traditional security systems, but the analysis does state that more schools are looking into advanced technologies to boost security.
Sydny Shepard is the Executive Editor of Campus Security & Life Safety.