Vanderbilt has put a lot of effort in building its brand in Europe after the acquisition of

Siemens Security Products. Joe Grillo stresses that is has been going very well and Vanderbilt has more than doubled the marketing budget compared to when Siemens owned the business.

He sees many trends in the physical security industry.

"There is a continual discussion about the impact in the availability of, and of offering, cloud based products and services to the customer base, the continued drive of the influence of IT departments and IP based product versus old types of analogue types of products and open standards, these are the main drivers and things that we see in the industry today", he says.

Joe Grillo believes the physical security market will grow and probably become more consolidated.

"These trends that we talked about will cause a greater penetration with different types of products, like cloud based products, like wireless products, like all of the IP influences on these types of products", he says.

He also stresses that the Internet of Things is much more applicable to the residential or the domestic markets and Vanderbilt does not operate in those markets.

"There is an IP, IT element to it, but I really think that it is something that those businesses operating within the domestic market will have a much stronger interest in than we do in the commercial market", he says.