This research addresses the research question “What are the factors associated with the problem that technology standards and regulations stand in the way of innovation?” We present an empirical study from the physical security industry where secondary data and data from interviews have been collected. Seven factors were found that contribute to this problem. Four of them are technical standard related and three are innovation related. With this research we add to the existing limited literature by summarizing the negative impacts of technology standard and regulation on innovation and possible root causes. We also provide empirical evidence to earlier findings that different types of standards, standardization processes, installed-base effects, and lock-in effects can cause these kinds of problems. Practitioners who work in business development or strategic planning can use our research to gain understanding about some of the obstacles, caused by existing technology standards and regulations, that innovation may encounter. For further research it makes sense to validate whether the identified factors apply to other industries.