Strong Tender Releases Bolster 2024 Expectations.
Strong Tender Releases Bolster 2024 – Every week SEN scrounges through a mess of government and corporate tender sites looking for electronic security contracts – a tedious process that sometimes disappoints.
But this process also allows an instructive snapshot of tender flows at any point in time, with the caveat that many new systems and system upgrades are planned well in advance.
Of note moving through the end of 2023 and into 2024 are a strong run of tender opportunities released by corporate and government users that include single site and enterprise applications, with plenty of new sites and loads of upgrades.
Strong Tender Releases Bolster 2024
While upgrades often advantage incumbent providers, any tender renewal is an opportunity for clever and capable integrators to state the case for their services and technology suites, especially if an application features end of life hardware and software.
Recent tenders suggest that end-to-end electronic security solutions supported by security patrols and security officers on site and professional monitoring off-site remain the preferred model for many large end users.
Integration, situational awareness, AI recognition of rego plates and events and automation, are all repeated points of reference, with the latter highlighting a continued push for economy through further empowerment of existing technologies.
There’s also lateral spread of security technologies into detection and enforcement of council rules, flood detection, bushfire detection, management of emergency response and plenty more.
Strong Tender Releases Bolster 2024
Some recent applications involve protection of state-wide power utilities, others involve biometric solutions for national airports – there’s plenty of CCTV applications but lots in the way of alarms and access control, too.
There’s continued growth in solar and windfarm integrations and a particular trend in areas like health is a requirement for personal duress devices and monitoring – many of these users have huge staffing levels.
In the broader economy, Australia has posted its second surplus in a row, with interest rates likely to ease later in the year on the back of tumbling inflation figures. Employment is high, immigration is high, house prices are high and GDP remains steady.
Australia’s near record ASX numbers, which are always much more conservative than the overwrought U.S. stock market, suggest an underlying confidence in corporate earnings that is encouraging, though it guarantees nothing.
Economists believe Australia side-stepped a recession late 2023 and while the country’s growth projections are soft – under 2 per cent – it’s likely this softness combined with falling inflation will see policy makers switch from tightening to stimulation in the months ahead, a move certain to underpin a growth rate projected to lift through 3 per cent in 2025.
Another positive factor is a barnstorming U.S. economy, which has just added a record number of jobs, taking its unemployment rate down to 3.7 per cent and further underpinning consumer spending.
None of this guarantees a smooth year but it does suggest the doomsayers of 2023 may be in for a mildly pleasant surprise as 2024 unfolds. You can find out more about Australia’s economy here or read more SEN news here.
“Strong Tender Releases Bolster 2024 Expectations.”
