The global AI trust, risk and security management market size is expected to reach USD 7.44 billion by 2030, according to a new report by Grand View Research, Inc. The researchers anticipate this market to grow at a CAGR of 21.3% from 2024 to 2030. As organisations increasingly embrace AI, concerns around bias, explainability, and security vulnerabilities have grown, making AI trust, risk, and security management (TRISM) solutions essential for managing these risks effectively.

The growing focus of regulatory bodies on promoting responsible and trustworthy AI systems also aligns with the growing demand for AI TRISM solutions. The growing demand for secure and reliable AI applications across industries is presenting the need for AI TRISM to mitigate risks and ensure compliance. For instance, in June 2023, according to Grand View, Resistant AI, which specialises in protecting financial institutions from fraud and money laundering, raised USD 11 million for its AI security solutions. The funding would reflect the growing demand for AI-powered security solutions, notably in the financial services industry.

Growth created through collaboration

Analysts found that a collaboration between AI TRISM providers and other technology companies is creating market growth opportunities. This collaboration serves to expand the AI TRISM ecosystem, fostering a more comprehensive and integrated range of solutions. By working together, AI TRISM providers and tech companies can incorporate elements such as data security platforms, explainable AI tools, and monitoring systems with existing AI TRISM frameworks. Moreover, such collaborations help address specific industry needs related to AI implementation and development. Various sectors, such as healthcare, finance, and manufacturing, face unique challenges in terms of AI solutions related to trust, risk, and security. Through collaboration, tech companies can tailor AI TRISM solutions to meet the distinct requirements of each industry, providing specialised and effective tools.

Generative AI foundation models

Moreover, the emergence of generative AI foundation models has created a unique set of challenges, including the need for advanced tools to manage the nuances of data exchange and processing between users and organisations. Addressing these challenges presents a growing opportunity for AI TRISM developers to collaborate with policymakers. The growing need for AI TRISM solutions creates a promising avenue for developers to innovate and create tools that address specific challenges in data management, privacy assurance, and content filtering within the context of generative AI foundation models.

Based on component, the solution segment led the market with a revenue share of 70.7% in 2023. The rising need to automate the software development process and gauge the trustworthiness of underdeveloped ML models is anticipated to drive the segment’s growth.

Market trend highlights

• Based on type, the explainability segment accounted for the largest revenue share in 2023. Healthcare providers and practitioners are adopting explainable AI models to understand the decision-making processes of diagnostic algorithms, treatment recommendation systems, and patient outcome predictions.
• Based on application, the governance & compliance segment accounted for the largest revenue share in 2023. The growing public awareness about AI’s societal impact is prompting consumers to advocate for ethical and responsible AI practices.

• Based on end-use, the IT & telecommunication segment accounted for the largest revenue share in 2023. IT & telecom companies are aggressively adopting AI TRISM solutions as part of the efforts to mitigate potential AI-related risks, secure their data, and ensure adequate privacy protection.

• North America dominated the market and accounted for a 32.6% share in 2023. A fraction of North American companies has already implemented responsible AI practices, and multiple other companies are planning to scale responsible AI frameworks by 2025.

At the end of April, UK based intruder detection manufacturer Texecom will be exhibiting alongside its sister company Klaxon at The Security Event 2024, taking place at the NEC in Birmingham.

Security installers will be able to experience the new Smartcom Pro communicator, designed specifically for alarm signalling from third party panels. The range portfolio will be on display at the show, and members of the Texecom team will be on hand to discuss the benefits of the full family and how these can be applied to future security applications.

Set to be available soon and in three versions, the Smartcom Pro range consists of the following models:

• Smartcom Pro – The new single path communicator specifically designed for use over WiFi or Ethernet connection.
• Smartcom Pro 4G – Besides use over Ethernet or Wifi, the Smartcom Pro 4G can operate via leading mobile networks, making it ideal for applications where Wifi or internet connectivity may not be available.
• Smartcom Pro DR – Smartcom Pro DR benefits from dual radio communications ensuring it is designed to intelligently selects the two best network operators available in that area for alarm signalling.

Texecom will also be demonstrating its range of hardware including the popular Premier Elite range and Capture devices and the suite of Digital Services including primary alarm signalling tool Texecom Monitor.

Joining Texecom will be sister company Klaxon Signals showcasing its range of audible and visual signalling equipment including the Master Blaster a powerful motor driven siren designed for use as an internal/external supplementary security sounder.

David Mountfield, Chief Revenue Officer for Texecom commented “We’re pleased to return to The Security Event this year. This will be the first-time professional security installers will be able to get ‘hands-on’ with our all new Smartcom Pro communicator and unleash the true benefits of Texecom Digital Services across all of their future intruder detection installations.”

From April 30th until May 2nd, 2024, GJD will be participating at The Security Event 2024, where the company will be launching its new ultra-long-range, wireless integration system, the LX Lora Connect.

By leveraging Lora technology, the new system offers unparalleled flexibility, reliability, and ease of integration with GJD equipment and third-party technology. A major key feature is that it connects sensors, illuminators and alarm sounders over a range up to 10 kilometres – It will even transmit signals through buildings and other obstacles. Another key feature is that it can connect and support up to 500 devices, all without the need for expensive data cables and expanders.

Dr Rod Wilson, Group Chief Technology Officer commented: “With the LX Lora Connect, GJD is empowering installers with unprecedented capabilities. This new wireless system is a testament to our commitment to providing solutions that not only meet but exceed the expectations of security professionals”.

Installers who deploy GJD’s LX Lora Connect will gain a significant competitive edge, as they will be able to provide their customers with enhanced functionality and control. LX Lora Connect streamlines and reduces the logistical costs of installation processes, delivering wireless, scalable, and long-range solutions for the most challenging environments.

Visitors to the show will have the opportunity to engage with GJD’s experienced security experts for live product demonstrations. Attendees will be able to gain a deep understanding of how GJD’s products offer significant advantages including how GJD’s solutions overcome real intruder challenges, enhance video analytics, and reduce unwanted alarms.

James M. Viscardi, Executive Vice President, Global Sales commented: “The Security Event 2024 provides GJD with a unique opportunity to connect directly with UK and Europe installers. We are eager to share our expertise, showcase our latest product innovations, and collaborate with installers on addressing the evolving needs of the security industry”.

Morse Watchmans, an industry leader in key control and asset management systems, reports a rising number of international cities and municipalities installing the company’s flagship key control system, Keywatcher Touch, to secure the buildings, equipment, and vehicles utilised by various municipal departments.

“From public works to waste departments, courthouses, and beyond, the adoption of our Keywatcher Touch solution continues to resonate positively across so many diverse cities,” said Tim Purpura, VP of Global Sales and Marketing, Morse Watchmans. “We take pride in knowing that our systems are being used to facilitate secure and efficient operations for some of the public’s most critical services.”

By implementing effective municipal key control measures, cities can mitigate the risks associated with unauthorized key access while maintaining the operational integrity of public works. This proactive approach not only safeguards against potential security breaches but also fosters accountability and responsible use of resources among city employees. In this way, cities and municipalities can establish a foundation of trust and confidence within their communities.

In one instance, the Walworth County Public Works Department in Wisconsin implemented a new Keywatcher Touch system after finding their original key no longer adequately supported the county’s hundreds of keys for government buildings and county fleet vehicles. After seeing the success of the Keywatcher Touch solution at the Department of Public Works, other departments within Walworth County have also begun installing their own Keywatcher Systems. “These boxes are starting to catch on, and departments are really thinking about how they will use them for vehicles and building keys,” said John Miller, Senior Project Manager, Walworth County Public Works.

Anew, best-in-class 2MP Video Intercom from IDIS – the vandal-resistant and waterproof DC-I6212WRX – is the first NEMA 4X, IK10, and IP66 rated product of its kind offered by any video surveillance vendor.

The DC-I6212WRX, from South Korea’s largest in-country video surveillance manufacturer, gives systems integrators and their customers a host of performance benefits, including advanced user functions and unmatched durability in harsh environmental conditions.

Housed in a toughened casing with two colour options and a choice of flush and surface mount options, the DC-I6212WRX can withstand extreme temperatures from -30C to +55C and humidity up to 90%. With intelligent trigger events including active tampering, motion detection, and trip zones, the intercom features a robust built-in speaker to protect against criminals’ intent on degrading security.

Easy to integrate with IDIS’s choice of VMS including the totally cost and license-free IDIS Center and mobile apps, as well as third-party systems including access control systems and electromagnetic door locks, the DC-I6212WRX adds a practical and affordable access device to IDIS’s growing range of NDAA-compliant products.

Access control and visitor management are further boosted with two-way VoIP (SIP) audio, enhanced by echo cancelling and noise reduction. In addition, superior image quality and simultaneous two-way audio and video recording, thanks to forensic voice and video evidence, ensure complete audit trails and effective investigations.

The DC-I6212WRX provides a clear foreground focus of who’s calling, plus sharp image capture of the scene behind and around them, even in challenging lighting conditions. It features superior 2MP (1920×1080) image capture with 180-degree fisheye view, true 120dB WDR (Wide Dynamic Range) and an IR LED nighttime range of five metres. Its push button placement also ensures easy use for adults of average height, children, and wheelchair users.

James Min, Managing Director of IDIS Europe said, “Standard video intercom devices are vulnerable to today’s increasingly harsh environmental conditions, including heavy rain, sub-zero temperatures, heatwaves, wildfires and extreme events causing high pollution and dust levels.” He added, “IDIS’s first-of-a-kind video intercom tackles these problems head on, giving users the reassurance of long and reliable service life, regardless of extreme weather.”

Ajax Systems appointed Paul Pope as the new Global Head of the Fire & Life Safety Business. Paul Pope has over 35 years of experience in fire and life safety globally. He’s held top roles in UK and international companies. Paul has qualifications in electrical and electronic engineering. As an engineer, he is associated with the Institution of Fire Engineers (IFE).

Paul Pope, Global Head of Fire & Life Safety Business of Ajax Systems, said, “I am delighted to join Ajax Systems, a dynamic company known for its remarkable technologies and ambitious presence in the industry. My passion for challenges, fire safety, advanced technology, and teamwork aligns perfectly with the company’s ethos of pushing the boundaries of product innovation and performance. I believe the company offers best-in-class products, solutions, and customer support, which will ensure the achievement of its ambitious growth plans.”

Paul is deeply involved with the Fire Industry Association (FIA). He serves as a Board Director and holds key positions in various FIA councils. Also, he contributes to technical guidance documents and knows UK and international systems well. Before Ajax Systems, Paul worked in senior positions in prominent companies.

His extensive experience underscores Paul’s ability to navigate complex industry landscapes and drive strategic initiatives. Ajax Systems aims to strengthen its global market presence with this strategic addition. It also seeks to further its commitment to delivering cutting-edge security, fire, and life safety solutions.

Hikvision announced that it has joined the United Nations Global Compact (UNGC). The UNGC is the world’s largest global corporate sustainability initiative.

Devoted to advancing sustainable development and corporate citizenship, Hikvision joins more than 20,000 companies and 3,800 non-business participants who have similarly embraced the commitments of the UN Global Compact.

Over the past several years, Hikvision has made continuous efforts to operate in a more sustainable way. Joining the UNGC is yet another positive step to fulfill its global responsibility and increase transparency.

The initiative encourages companies to embed Ten Principles on human rights, labor, environment and anti-corruption into strategies and operations, and contribute to the United Nations Sustainable Development Goals (SDGs).

Hikvision integrates corporate social responsibility and sustainable development philosophies into its business operations. Its technologies are making contributions to, among others, wetland protection, forest fire prevention, and ecological governance of rivers and lakes.

Committed to achieving greater accountability, the company constantly improves its governance, and takes action for low-carbon manufacturing, green operations, anti-corruption, employee care, and responsible supply chain.

Hikvision believes that technologies can play a pivotal role in benefiting communities and nature. With this in mind, the company has launched the STAR (Sustainability though Technology, Action for Responsibility) Program for Social Good, supporting projects of biodiversity conservation and environment protection. So far, it has partnered with more than 20 non-profit organizations.

Dedicated to becoming a well-respected global technology company, Hikvision prioritizes corporate responsibility and enforces policies to ensure the company acts responsibly across its value chain. It will continue to explore best practices in corporate governance, compliance, green development to make a positive impact through technological innovation. The company will also join the UNGC in its efforts towards a more sustainable future.

The global electronic toll collection market was recently valued by Marketsandmarkets at USD 10.1 billion in 2024 and is projected to reach USD 14.7 billion by 2029; it is expected to register a CAGR of 7.9% during the forecast period. The rise in demand for electronic toll collection systems is attributed to the urgent need to mitigate traffic congestion and reduce road accidents, strong government support through funding and investment in deployment of advanced tolling solutions, and high convenience due to automated payment options.

The highway segment accounted for the larger share of ~91% of the electronic toll collection market in 2029. Vehicles are driven at high speeds on highways; however, high-speed traffic can also pose certain challenges. Hence, safety is crucial on roads designed and constructed for high-speed travel. The more real-time information that motorists receive on the current traffic situation, the safer they are while driving. For example, Kapsch Trafficcom’s intelligent urban traffic concepts are based on advanced technologies, such as ANPR, DSRC, and GNSS, to ensure calculation of the correct payment of tolls. These technologies have demonstrated efficacy in highway toll collection and ensure high reliability and accuracy.

Integration and enforcement services

Back office and other services segment accounted for the larger share of ~75% of the electronic toll collection market in 2029. The back-office integration and enforcement services include customer services and services related to host and toll plaza systems. Host and plaza systems collect transactional data from all types of lanes, summarise data, generate reports, and download files providing details regarding toll rates, toll schedules, and transponder status lists. Back-office operations involve the management of payments made via generic payment methods, barcoding, online modes, digital payment methods, RFID, etc.

RFID accounts for largest share

The RFID segment accounted for the largest market share of ~64% in 2029. RFID technology utilises radio-frequency electromagnetic fields to identify objects that carry RFID tags. This technology is used for electronic identification, tracking, and storing information on a tag. Two-way radio transmitters/receivers, also called interrogators or readers, send a signal to the tag and read its response. RFID readers scan the tag and send the information to the database for storage. RFID is a prominent electronic toll collection technology due to its low operational cost.

Asia Pacific is strongest geographical market

Asia Pacific held the largest share of ~32% in the electronic toll collection market in 2029. Asia Pacific is one of the most important high-potential markets for electronic toll collection systems. The market in this region has been segmented into China, Japan, ASEAN countries, and Rest of Asia Pacific. For most countries in the region, Asia Pacific is in the early stage of adopting electronic toll collection solutions. Rapid urbanisation and industrialisation and strong government support for infrastructure development have fuelled the adoption of electronic toll collection systems in the region. The increasing urban population has given rise to more traffic congestion, which has increased the number of accidents and deteriorated the environment. Electronic toll collection systems’ deployment prevents accidents and improves the environment by reducing air pollution.

Market players

Key players in this sector and named within the Marketsandmarkets report include, Kapsch Trafficcom, Conduent, Transcore, Thales, and Cubic Corporation.

The global secure logistics market size is anticipated to reach USD 153.44 billion by 2030, registering a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc.

Transport companies around the globe are operating under increasing financial challenges, including fuel prices and various natural disasters. The transport companies are experiencing low-profit margins that enabled industries to have repeated business from a satisfied customers. The lack of appropriate security personnel, coupled with the lack of appropriate training, could delay the detection of stolen freight and incur more losses to firms.

Transport security encompasses maritime, aviation, air cargo supply chain, and mass passenger transport system. The transport industry players are acting as transnational companies, offering international freight services across the globe.

In addition, ATMs are playing a vital role in maintaining the core banking touchpoint with consumers. Initially, ATMs were introduced to reduce congestion in branches. However, the types of services provided at ATMs have expanded significantly. The increasing trend of introducing cash recycling ATMs is likely to accelerate the ATM market growth. Economic size and population density have a positive impact on the financial sector. The densely populated countries have a higher ATM penetration and higher geographic branch.

This presents an increased risk of terrorist activities seeking to cause mass casualties and economic damages. In Australia, the air cargo supply chain security is regulated under the Aviation Transport Security Regulations 2005 and Aviation Transport Security Act 2004. The lack of law targeting organised theft of freight is expected to restrain the industry growth over the forecast period.Though the majority of companies have implemented up-to-date technologies to track goods over the Internet, they still suffer losses through theft or compliance owing to various reasons including laziness and lack of time for the employees. Companies are providing training for contractors and employees about freight handling and risk analysis to reduce shrinkage.

This market is dominated by international companies such as, Brinks, Cargoguard, CMS Info Systems, G4S, Gardaworld, Lemuir Group, Loomis, Maltacourt, Planitroi, Prosegur, Allied Universal and Securitas for example.