The condominium security landscape has been undergoing a transformative shift, driven by key factors that are compelling property managers to implement advanced and integrated security solutions. These driving forces are reshaping the industry, emphasizing the need for innovative technologies to address evolving security challenges in condominiums across the country.
Urbanization is a global trend, and Canada is no exception. According to Statistics Canada, over 80% of the Canadian population now lives in urban areas, with 5 of its 10 largest cities in the province of Ontario. Specifically, the population of Canada’s largest city, Toronto, grew by 14.3% between 2011 and 2021. As more people flock to urban centers, the resulting increased foot traffic and greater concentration of residents in communal living spaces amplifies the need for robust security measures, such as video surveillance and access control.
Advancements in technology have not only improved security solutions but also raised expectations for sophisticated systems. The prevalence of access control, cloud-based security solutions, and video analytics reflects a desire for cutting-edge technology that goes beyond traditional security measures. Condominiums are responding to this demand by integrating state-of-the-art solutions, enhancing the overall security infrastructure. It’s no wonder the access control market is projected to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2028.
In a 2022 study, 28% of organizations saw a rise in physical security incidents from 2021, and most believed these incidents would continue to rise in 2023. This heightened awareness of and concern about security threats is prompting condominiums to re-evaluate and reinforce their security protocols. Three of the most implemented solutions include access control systems which limit and track access to a building; video surveillance to deter intruders; and intercom systems to grant visitors safe and convenient access to the building. The combination of these technologies creates a comprehensive security strategy, addressing the growing concerns about potential threats and vulnerabilities within communal living spaces.
Whether it's the impact of urbanization, technological advancements, or a heightened awareness of security threats, property managers and security solution companies are collaborating to protect living spaces. As these trends continue to shape the industry, condominiums are embracing change to ensure the safety and peace of mind of their residents and communities.
To learn more about condo security system solutions in Southern Ontario, contact R3 Integrators today.