During recent years the security systems industry has faced turbulent times. Since the economic downturn of 2008 revenue has dramatically recovered, peaking during the London 2012 Olympics. Profits dropped throughout the recession due to a fall in public and private construction activity and a decline in consumer and commercial spending.
Growth has been driven by the improvement of the economy and the rise of public concern regarding crime and terrorism, even though crime has been reported to have reduced over the past 5 years. Another factor benefitting the industry is the increased amount of outsourcing from government authorities to security service providers, such as the London Olympics.
The future for the security systems industry looks bright. The economic recovery should bring with it more construction plans throughout the country and large investments in infrastructure should also bolster revenue. Governmental plans to invest £466 billion over the next decade in the electricity, communications, oil and gas and railway infrastructure all bring in their own security systems demands for the industry to thrive.
Also with the unfortunate rise of ISIS public fear of crime and terrorism is likely to rise. UK households are expected to continue to keep taking measures to secure their homes, protecting them from crime. This also includes public spending on protecting the public by increased spending on surveillance systems in parks, public transport and other public spaces.
Revenue for the industry is thought to rise to £989m by 2020, from £816.1m in 2015