For January's edition of Professional Security Installer magazine, our MD, Carl Meason, was one of a Panel of Experts asked to look into their crystal balls and predict what the industry will be seeing in the coming year.
Here are Carl's predictions...
In 2024 services utilising continuously improving AI will be created and the meshing of physical and electronic security, involving AI, will continue to emerge. This can not be stopped and the winners will be those who embrace and develop those new services.
Cloud based technologies will continue to replace local equipment and the battle between automation and people is likely to heat up. Driving down costs in a world where people are becoming less necessary will continue to be the main focus.
The paradox for individual services will keep the people element alive though, in the short term that is, this need will continue to drive those technology services to develop and erode those people services.
I am afraid some installers will see the PSTN switch land directly on the doorstep. Apathy in relation to this could impact end user services and not being prepared for this could very well damage these businesses that leave it too late.
The result may be the loss of additional revenue that monitoring systems generate along with some customer confidence in the end to end monitoring benefit.
The pressure on businesses in relation to maintaining competitive wages and businesses maintaining current tax structures is a constant battle. All businesses will be looking at the government for some assistance as we get closer to the election run in. After weathering a difficult time in the past few years some much needed tax relief will be hoped for to encourage positive business investment and momentum.
The outlook for the security industry is positive, electronic security along with cyber services and data driven decision making is on a steep curve, I don't see this changing in 2024.
You can read the whole article on page 30 here
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