A Capital One survey found that new technologies are transforming the way that executives view the security industry—from their market outlook, to competition, to future capital needs. The survey, conducted during the recent 2017 Honeywell CONNECT conference, found a high level of industry optimism, with 86 percent of respondents expecting better financial performance, balanced by concerns over decreasing margins and the furious pace of technological change.
Along those lines, 38 percent of those surveyed cited interconnected devices as next year’s most impactful technology, compared to 28 percent last year, demonstrating the growing influence the ‘Internet of Things’ is having across the industry. As residential market penetration continues to tick up, the growth of ‘do-it-yourself’ technology that allows individuals to set up and monitor their own security at home is beginning to build. One in five security professionals (19 percent) surveyed selected those technologies as potentially having the largest impact—a significant increase from just seven percent who said the same last year.
