According to the first-ever World Security Report, large, companies lost a combined $1 trillion in revenue in 2022 due to physical security incidents. Economic unrest is expected to be the greatest security-impacting hazard in the next 12 months, a significant increase from the prior year.
The report also found that companies anticipate a surge in threats and hazards like social unrest, climate change, fraud and theft. As a result, physical security budgets are predicted to increase significantly to keep people, property and assets safe. Security providers intend to focus investments on advanced technology and provide security professionals with additional skills and training.