Amid ongoing supply chain issues and emerging economic uncertainty, businesses experienced an increase in physical security incidents in 2022. Yet many businesses have not updated their security strategies, despite believing these incidents will continue to rise in 2023.
That’s according to Pro-Vigil’s new research report, “The State of Physical Security Entering 2023,” which polled 149 operations leaders across a range of industries including construction, dealerships (car/truck/boat/RV), retail, and manufacturing, among others.
Key findings from the survey include:
Physical Security Incidents Continue to Rise
- 28% of respondents saw an increase in physical security incidents in 2022, matching the mark from Pro-Vigil’s 2021 survey and up from just 20% in 2020.
- 39% believe the state of the economy is the cause behind rising security incidents, while 26% believe the supply chain is to blame.
- 91% believe the number of physical security incidents will increase or stay the same in 2023.
Security Incidents Are Impacting Business Operations
- When it comes to the type of incidents impacting businesses most, almost half (48%) say theft is to blame.
- These incidents are having real business impacts, with 40% of respondents reporting project delays and 25% reporting their cash flow has taken a hit.
Businesses Fearful, Yet Security Strategies Remain Outdated
- Despite more than 90% of respondents saying security incidents will stay the same or increase in 2023, 42% have not changed their security strategy.
- Less than half, 41%, are using remote video monitoring to secure their business.
- Construction businesses, in particular, are facing an elevated threat, with 66% reporting at least one security incident in 2022. However, 43% did not change their security strategies.
The full report is available for download here.