Market Research Report
Private Security Services Market by Service, End-users, and Geography - Global Forecast and Analysis 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||913027|
|Published||Content info||157 Pages
Delivery time: 1-2 business days
|Private Security Services Market by Service, End-users, and Geography - Global Forecast and Analysis 2019-2023|
|Published: September 25, 2019||Content info: 157 Pages||
Private security services are security-related services provided by private organizations and individuals. Technavio's private security services market analysis considers sales from industrial, residential, financial institutions, and other end-user segments. Our analysis also considers the sales of private security services in APAC, Europe, North America, South America, and MEA. In 2018, the industrial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the strict enforcement of regulations and the increasing demand for skilled security personnel will play a significant role in the industrial segment to maintain its market position. Also, our global private security services market report looks at factors such as rapid urbanization, concerns about terrorism and crime, and the low ratio of police officers-to-population. However, shortage of private security personnel, issues related to weapon licensing due to use of untrained security personnel, and presence of complex laws that govern private security services may hamper the growth of the private security services industry over the forecast period.
Many businesses and residential complexes are adopting private security services with growing concerns about terrorism and crime. The population explosion in modern cities has exposed these cities to the threat of crime and terrorism. Hence, businesses, as well as commercial and residential complexes, are employing integrated security solutions, which involve manned guarding with advanced electronic security systems, to improve the safety of their premises. Thus, the growing concern about crime and terrorism will drive the expansion of the global private security services market at a CAGR of over 5% during the forecast period.
The advent of innovative digital video systems and security camera products has made electronic security systems more efficient and reliable for surveillance. Virtual security systems consist of security cameras connected to networks via the internet. They are digital remote monitoring systems and are extensively used in various premises including government institutions, parking lot, retail, hotel, and construction. The increasing cost of manned guarding will further boost the demand for virtual security systems, especially from small businesses for deterring and reducing criminal activities. They are n cost-effective and their adoption is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global private security services market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global private security services market is moderately fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading private security services manufacturers, that include Allied Universal, G4S Plc, GardaWorld Corp., ISS AS, Loomis AB, Prosegur Compania de Seguridad SA, SECOM Plc, Securitas AB, Security and Intelligence Services (India) Ltd., and The Brink's Co.
Also, the private security services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key leading countries