In the CNBC TV series The ADVANCEMENTS, Ted Danson discusses pertinent current affairs that impact society. From automation to charitable giving, The ADVANCEMENTS showcases solutions dedicated to transforming our world. In this episode, Spire Research Consultant Iman Mohd shares his views on the dilemmas and opportunities facing the Private Security industry.

While technological advancement over the last two decades has accumulated virtually all of the world’s knowledge into a 5.5” screen, one industry in particular remains hobbled by its lack of receptiveness towards smart solutions. In the Private Security industry, over 60% of firms remain insulated from the opportunities proffered by technology – just 5% of private security firms adopt smart security solutions, suggesting an immense potential for growth in an industry set to hit US$257 billion by 2022.

In a recent episode of The ADVANCEMENTS, Spire Research Consultant Imran Mohd shares his insights on the state-of-affairs of the Private Security industry. Citing perceived high cost and complexity as key reasons for the industry’s reluctance to adopt smart solutions, Imran explains that there is a lack of awareness on the types of security solutions available. As such, private security companies remain largely unaware of the benefits smart solutions can bring to streamlining the managing of security operations.

Smart security technology offers omnipresence at our fingertips, reducing the need for 24/7 manpower patrols to various work sites. Security Risk, a software-as-a-service company explains that its suite of rapid response applications allows security companies to maintain visibility at all times, without having to physically send manpower to walk the grounds. Not only can companies focus on managing security outcomes rather than day-to-day personnel management, using smart security solutions is also an opportunity for companies to differentiate themselves in the market.

Click here to watch the full episode (20/2/2021) on The ADVANCEMENT TV Series.

For media enquiries, please contact:

Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: marie.teo@spireresearch.com