Recent terror attacks on schools have raised questions over safety and security in schools. As terror attacks become increasingly sophisticated and complex, it is apparent that the security measures of old have to be supplemented with newer, technologically advanced measures.
The adoption of newer security measures like security cameras, access control systems, and metal detectors are helping drive growth in the Global Security Market in Schools at a CAGR of 14.3 percent from 2013-2018.
But of course, the market isn’t without challenges.
High Cost of Security Solutions
The security solutions such as surveillance cameras, alarms, and access control units are highly priced. The investment required in creating advanced-level security solutions such as metal detectors and biometric access control systems is also high. Most school boards do not have high budgets for the installation of security devices on their premises.
Therefore, TechNavio analysts are certain that cost is the biggest hurdle for the School Security Market, and will hinder growth for the duration of the forecast period.
Lack of Trained Staff
Further, the cost of maintenance of these systems also requires expertise, which incurs additional charges school management.
The staff members in schools can provide security only at the initial level of detecting and monitoring through video surveillance. However, they are not well trained to fight uncertain situations such as shooting, stabbing, or bomb explosions. To fight such high-level crimes, proper arms training is required. Every school and institution must have a team of trained security professionals.
That being said, TechNavio analysts note that this challenge is only temporary, and by 2015 there will be an influx of staff who are trained not only to use school security systems, but to also disaster/threat trained.
Availability of Cost-effective Security Systems
Although there is a need for security solutions in schools, because of budget constraints end-users opt for cheaper alternatives. These alternatives include enforcement of strict dress codes and display of ID badges, deploying security guards, and locking gates during school hours. These are only precautionary measures and cannot stop criminals from attacking the target and cannot fight back.
However, understanding the revenue opportunities in the Education sector, security equipment vendors are introduction cost-effective products for schools and colleges. These products include surveillance cameras and access control devices, which are customized for use on school premises. As this equipment does not require high accuracy when compared to equipment needed in other sectors such as BFSI and Government, vendors are able to provide it at a cheaper price.
Technological Advancements
Continual technological advances in the security market have led to an increase in the applications of biometric readers on school premises. In addition, vendors also offer customized security products for school authorities at low cost.
However, the rate of change and technological advances in the Global Security market in Schools is very slow. Schools in developed countries such as the US are adopting advanced and highly accurate security systems. Therefore, technological advances are expected to have a positive impact on the Global Security market in Schools.
