Unstable global conditions increase the security industry market
The year 2022 was once again a globally unstable time. Russia’s attack on Ukraine, increased cyber threats, an energy crisis, the aftereffects of the pandemic, extreme weather events caused by climate change, logistics challenges, and the global economic situation each cast a shadow of uncertainty over the world. Unfortunately, similar uncertainty is likely to continue in 2023, and preparing for them is becoming the new normal. The need for critical communication and security solutions is growing all the time, to build a safer world.
The crisis management solutions market is estimated to grow from USD 121.4 billion in 2022 to USD 163.6 billion by 2027 (Markets and Markets report). This is due to the aforementioned uncertainty factors, as well as increased regulatory initiatives, laws, and regulations that govern operations, and the increased threat of terrorists and biological hazards, and their realization.
The entire global public safety market is also estimated to grow from USD 433.6 billion in 2022 to USD 707.2 billion by 2027 (Markets and Markets report). The market is expected to grow by as much as 63 percent.
Continuing uncertainty is naturally a negative thing overall, but on the other hand, it opens up opportunities for Secapp Ltd to help various industries. In a crisis-ridden world, crisis communication solutions and the need to prepare for chrisis are becoming a priority for organizations. For example, precautionary measures triggered by a power outage must be initiated quickly, as without rapid response, damages can be tens and even hundreds of thousands of euros.
Therefore, there is an increasing need for the automation of alerts, and Secapp has already done important work in this area. In 2022, Secapp has been integrated into, among other things, weather monitoring systems and power production notifications to improve preparedness and speed up response times.
Secapp Ltd’s clear competitive advantages in a growing market include:
- Offering a complete solution (alerting, communication, documentation)
- Technological advantage (e.g., bypassing silence, multi-channel communication, reliability even in exceptional circumstances)
- Possibility for cross-organizational collaboration and communication groups within Secapp
- A broad ecosystem (e.g., physical security buttons, integrations with different systems and devices, and various expert and security services provided by partners)
- Affordable implementation and scalability
- Information security, ISO27001 certification, and local servers
Organizations are also increasingly precise about data processing and storage, as well as information security and safety regulations. Secapp Ltd can respond to this demand in alerting, communication, and documentation solutions, as evidenced by the international standard information security management system ISO 27001 certificate awarded to the company in 2022 by Huld Certification Oy.
As the global economic situation worsens, companies are increasingly precise in their investments. Secapp’s low implementation cost is a significant competitive advantage in a tight economic situation, and the same system is suitable for a wide range of needs within the organization.