Since 11/2001, security systems field has grown very fast. Billions of dollars of profits are made by security systems companies. To give you an idea, the market was 45.58 billion USD in 2018. market analysts expect it to reach 74.75 billion US by 2023.
In this article, I am going to show you how security system’s companies make money.
Security system companies make money in many activities
Let me list some security system activities. They are likely to be security system niches someone can specialize in. Of course there are many others I am not citing, but here’s the main ones:
- Consulting
anybody can aspire to become a security consultant; however, security industry requires a wide breadth of knowledge: technology, security methodologies, criminal justice, management, law, and/or social science disciplines. As a result, educational background in relevant academic disciplines are needed. In addition to several popular certifications and relevant opportunities.
the most popular pathways into the security field are police or military services, technology and construction backgrounds.
Installation and equipment
- Security systems Installation
Installation in a good option for security systems companies to make money. There is residential installation and commercial or institutional installation. Installation companies include servicing and monitoring for their customers.
Many brands are targeting DIY fers (do it yourself) especially in the residential field. . Especially with the Internet of Thing (IoT) technology. Actually, many companies are offering plug and play kits of cameras and antiburglary systems with software and apps preconfigured. As a result, residential alarm systems and video surveillance self-monitored are mushrooming.
On the hand, security system installation in the intuitional field is a little more demanding. Because there could be integration between different systems. For instance, video systems and access control. Furthermore, integration with an IT network is more and more required.
In short, the security industry meets with the IT environment, as security equipments are increasingly IP. Consequently, this requires the installer to have different training and knowledge, particularly in IT.
Security systems installation is a field where someone can easily invest and grow. In fact, the security industry is very flourishing in the do yourself product.
Servicing systems and repair are after sail service that the majority of installation companies are offering to their customers. So, that’s an important source of income for a company.
- Monitoring
We call them monitoring stations. They receive security system’s events signals 24/7 days. Then they dispatch competent authorities if needed.
Learn more about monitoring stations
- Manufacturing equipment
Manufacturing equipment is not an easy task as very big players are already out there, There are some examples of manufacturers in security systems industry Axis, Wisenet, Panasonic are some big players in video surveillance Kantech, HID, Softwarehouse … etc are big players in access control,
Software
- Migrating and updating existing systems
System migrations are very common. regular updates occur in security systems, whether in physical equipment or in management software. Very often the users outsource this task to specialized security companies.
- Software development
As the security systems industry is using more and more IoT, Information technology has become essential. For example, all security components tend to be IP networked. The client server technology is implemented in almost all security software as well. As a result, many IT companies are specializing in software platforms development. So, they charge through licensing
- Security equipment Retail shop
A retail shop of security gadgets and equipment is an options to make money in security. It is a business that is less demanding to start
- Training and security procedures advising
- Recruiting agency
- Coaching center to related security certifications
- Security guard company
