Access Control, Security

The State of Business Physical Security in 2024

A quarter of businesses saw a rise in physical security incidents in 2023, and more than half are more worried about crime than they were a year ago.

That’s according to “The State of Physical Security Entering 2024,” a newly published report from Pro-Vigil. Despite an increase in physical security incidents, the report said businesses’ security strategies continue to remain outdated, especially when it comes to the adoption of and education in artificial intelligence (AI).

To better understand the physical security threats businesses are facing today, and what they’re doing to combat them, Pro-Vigil polled 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 the following:

Businesses Slow to Adopt AI in Security Strategies

  • While businesses reported a slight uptick in the adoption of remote video monitoring services in 2023, 71% have not integrated AI into their security strategy. 23% don’t know if they’re using AI.
  • 29% believe AI can be a helpful tool in the fight against crime, while 57% aren’t sure.
  • However, 72% said they aren’t concerned about using AI.

Physical Security Incidents Impact Businesses’ Bottom Line

  • 25% of respondents saw an increase in physical security incidents in 2023, close to the 28% reported in 2022 and 2021, up from just 20% in 2020.
  • 26% believe increased incidents can be attributed to a rise in local crime, while 23% say the economy is to blame.
  • 32% of businesses said they experienced project delays because of physical security incidents, with 30% reporting damage to assets.

Perceptions of Crime in the Year Ahead

  • 55% of respondents are more worried about crime than a year ago.
  • 87% predict the number of physical security incidents will increase or stay the same in 2024, with 27% believing that number will rise.

The full report is available for download here.

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