According to a recent end user study from U.K. firm IMS Research (part of IHS), 45 per cent of respondents said that their security budget had increased during 2012.
Almost 200 North American end users of physical security equipment took part in the study. Forty-four per cent said that their annual budget exceeded US$100,000; 20 per cent exceeded $500,000 a year.
“It’s clear that end users are still feeling the risk to their facilities — and that means there’s plenty of opportunity for manufacturers of physical security equipment,” says Niall Jenkins, manager for video surveillance and security services research at IHS, in a written statement. “Just having a budget available was actually one of the top two reasons for end users paying to replace or upgrade their systems as well.”
Despite the reported growth, manufacturers aren’t necessarily in the clear, according to study. Respondents noted that equipment purchased is not always supported for long enough to meet their needs.