Third annual Future of The Industry Report provides insights into the evolving landscape of access control.
Controlled Products Systems Group (CPSG), the largest nationwide distributor of perimeter access control and security products, has published its annual Industry Trends Report, which provides insights into the evolving landscape of the access control marketplace. The third edition of the report, published earlier this year, highlights the trends observed in the industry over the past year. Despite economic challenges, the industry has experienced growth, particularly in the residential sector.
CPSG conducted a nationwide survey of hundreds of clients, representing companies of all sizes that operate in fields such as residential and commercial gate automation, crash barrier installation, door installation, security integration, and perimeter access design. The report is intended to help access providers and installers stay ahead of the curve by identifying threats and opportunities across the industry.
The report shows that industry players are already facing inflation and supply chain issues, and customers are investing differently due to spiking interest rates. The second half of the report discusses how the industry is adapting to these changes and offers recommendations on how businesses can make themselves more resilient in the face of uncertainty.
The report offers valuable insights into the trends that will shape the industry in the coming year. With high costs and short labor predicted to be ongoing issues, the report offers recommendations on identifying new revenue streams. The report also highlights opportunities for growth, including cloud-based access, long-range vehicle identification, recurring revenue, and workforce training and augmentation. By leveraging these opportunities, businesses can position themselves for success in the evolving access control market.
By staying informed and building resilience, businesses can position themselves for success, even in challenging times.
Click the button below to download a copy of the CPSG Industry Trend Report 2022-2023.