Throughout 2015 the security industry saw the appearance of numerous mobile credential offerings, signalling the “beginning of the end” of card-based identity, and strengthening of mobile offerings in general. Overall, the security industry enjoyed healthy growth throughout 2015, as reflected in the better-than-index performance of most publicly traded security company stocks.
Cloud companies, in particular, saw the market turning their way, as a number of security vendors have added cloud-based offerings. Of note are direct-from-manufacturer cloud offerings from the likes of lock manufacturers and video companies.
The biggest news for Brivo in 2015 was the acquisition of the company by technology innovator Dean Drako, founder of Barracuda Networks. The move demonstrates the strength of the fundamental cloud value proposition at both the customer and investor level.
Brivo grew the functionality of its core OnAir® platform with additional video capability derived from the integration with cloud video management provider Eagle Eye Networks as well as its new mobile credential capability deployed via the Brivo Mobile Pass application. Brivo added to the opportunities for its API partners through an extensive modernisation and expansion of its RESTful OnAir API suite.
Mobile and cloud offerings are here to stay
As we look ahead to 2016, I believe both mobile and cloud offerings will continue to grow in popularity. Industry stalwarts who have continued to cling to the outmoded server-based architecture rather than investing in cloud as a successor will be cannibalised from several angles. New entrants with credible multi-tenant SaaS products will take some market share, and the few legacy companies who have kept up with the times will be rewarded for their foresight.
As I look at the robustness of the security market in general, it reflects several underlying trends. Growing economies, populations, and infrastructures have contributed strong organic growth tied to general economic prosperity. Unfortunately, unrest and the presence of various types of threats are contributing to a sense of greater need for security solutions in general.
See the full coverage of 2015/2016 Review and Forecast articles here