PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1446974
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1446974
Private Security Market Forecasts to 2030 - Global Analysis By Service Type, Application, End User and By Geography
According to Stratistics MRC, the Global Private Security Market is accounted for $240.87 million in 2023 and is expected to reach $394.45 million by 2030 growing at a CAGR of 7.3% during the forecast period. Private security is a range of services and measures provided by private organisations or individuals to safeguard people, properties, assets, and information. It encompasses a diverse array of services, including manned guarding, electronic security systems, cybersecurity, risk assessment, consulting, and investigative services. Private security firms may serve various sectors, such as residential, commercial, industrial, governmental, and institutional clients. These services aim to prevent crime, deter threats, protect assets, ensure safety, and respond effectively to security incidents.
According to the Metropolitan Police Service (MET), a London-based territorial police force, retail crime in London is increasing, with shoplifting up by 21.1% as compared to 2022.
Market Dynamics:
Driver:
Rising crime rates
Rising crime rates and public safety concerns act as a major fuel for the booming private security market. As individuals and entities perceive an increased risk of theft, vandalism, or violence, they turn to private security solutions for additional protection. This can encompass a range of services, from traditional manned guarding to sophisticated alarm systems and cybersecurity measures. Businesses, residential complexes, and public spaces invest in security measures to deter criminals, detect threats, and respond effectively to security incidents. Therefore, these factors are contributing to the overall safety and well-being of society.
Restraint:
Regulatory compliance burden
Compliance with diverse and evolving regulations, licensing requirements, and industry standards demands significant time, resources, and expertise. Non-compliance risks penalties, legal liabilities, and reputational damage. The need to navigate varying regulatory frameworks across jurisdictions adds further challenges, hindering innovation and market entry for new players. This regulatory burden constrains the ability of security firms to adapt swiftly to changing security threats and client demands, limiting overall competitiveness and profitability in the market.
Opportunity:
Rise of cloud-based solutions and remote monitoring platforms
Cloud-based security systems offer scalability, flexibility, and cost-effectiveness, allowing security firms to deliver advanced security services to clients of all sizes. Remote monitoring allows real-time oversight of security systems and personnel, reducing operational costs and improving response times. By embracing cloud-based solutions and remote monitoring platforms, private security firms can unlock new markets, offer competitive pricing, and deliver enhanced security services to their clients. This technology-driven approach can be a key driver of growth and innovation in the private security market.
Threat:
Cyber threats
As security systems become increasingly interconnected and reliant on digital technologies, they become vulnerable to cyber attacks such as hacking, malware, phishing, and ransomware. These threats can compromise sensitive information, disrupt operations, and undermine the integrity of security services. Also, breaches in cybersecurity erode trust in security firms, leading to reputational damage and the potential loss of clients. Thus, it will hinder market demand.
Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the private security market. Initially, there was increased demand for security services to enforce public health measures, secure essential facilities, and protect healthcare facilities. However, widespread lockdowns and economic downturns led to reduced demand from sectors such as retail, hospitality, and events. Despite these challenges, the pandemic also accelerated trends such as the adoption of technology-driven security solutions and the prioritisation of remote monitoring and contactless access control.
The electronic security services segment is expected to be the largest during the forecast period
The electronic security services segment is estimated to hold the largest share. These systems include CCTV surveillance cameras, access control systems, intrusion detection alarms, and biometric identification systems. Electronic security service providers offer a range of solutions tailored to meet the specific security needs of various industries and clients, such as corporate offices, retail establishments, residential complexes, and critical infrastructure. With the increasing adoption of advanced technology like AI and IoT, electronic security services play a crucial role in enhancing threat detection, crime prevention, and overall safety for businesses and individuals.
The ports/airports segment is expected to have the highest CAGR during the forecast period
The ports/airports segment is anticipated to have lucrative growth during the forecast period. Ports and airports are focusing on safeguarding transportation hubs and critical infrastructure. Private security firms provide a range of specialised services tailored to these environments, including access control, perimeter security, baggage and passenger screening, surveillance, threat detection, and emergency response. Moreover, technological advancements, such as AI-based surveillance and biometric identification systems, enhance security capabilities.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to rapid urbanization, economic growth, increasing crime rates, and concerns about terrorism. The market features a mix of international firms bringing advanced technology and local players with deep regional knowledge. While regulations vary, the industry is witnessing a shift towards technology-driven solutions like AI and biometrics. As the region continues to develop, the demand for private security services is expected to remain robust.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. With a strong emphasis on protection against crime, terrorism, and cyber threats, the market includes offerings such as manned guarding, alarm systems, surveillance, and cybersecurity solutions. Key players include both multinational corporations and local firms catering to various industries and sectors. Government regulations play a significant role in shaping the market landscape, with a focus on compliance and standards. The market continues to evolve with technological advancements, offering opportunities for innovation and growth in the provision of comprehensive security solutions.
Key players in the market
Some of the key players in the Private Security Market include Allied Universal Security Services LLC, Securitas AB, Secom Co Ltd, ADT Inc, The Brink's Company, ISS A/S, Prosegur Compania de Seguridad, S.A, Loomis AB, GardaWorld Corporation, ICTS International N.V., SIS Group Enterprise, Kingdom Protection Services Pvt Ltd., AMZ Sicherheitsdienste GmbH, Hanwei International Security Services Co. Ltd., Ava Security, DynCrop, G4S Plc., CACI International Inc., ADT Inc. and Japan Security and Intelligence Corps.
Key Developments:
In April 2023, Allied Universal(R), the leading security and facility Services Company, and MSA Security(R), an Allied Universal company, announced the strategic expansion of services in the Las Vegas region with the acquisition of Elite Tactical Security Solutions.
In March 2023, Allied Universal(R), a leading security and facility services provider, today announced the acquisition of Landmark Event Staffing Services, a comprehensive event security and guest services company supporting a wide range of venue and event clients nationally.
In October 2022, Allied Universal(R), the leading security and facility Services Company, is continuing its strategic expansion with the acquisition of Century Event Security & Staffing based in Orlando, Fla.
In October 2022, Allied Universal(R), the leading global security and facility Services Company, and its international business, G4S, have signed a Memorandum of Understanding (MoU) with Shell to accelerate the transition to sustainable solutions for customers and employees through a global collaboration in sustainability and security.
Service Types Covered:
- Manned Security
- Electronic Security Services
- Cash Services
- Other Service Types
Applications Covered:
- Commercial
- Residential
- Government
- Industrial
End Users Covered:
- BFSI
- Manufacturing
- Infrastructure
- Energy & Utilities
- Ports/Airports
- Retail
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Private Security Market, By Service Type
- 5.1 Introduction
- 5.2 Manned Security
- 5.3 Electronic Security Services
- 5.4 Cash Services
- 5.5 Other Service Types
6 Global Private Security Market, By Application
- 6.1 Introduction
- 6.2 Commercial
- 6.3 Residential
- 6.4 Government
- 6.5 Industrial
7 Global Private Security Market, By End User
- 7.1 Introduction
- 7.2 BFSI
- 7.3 Manufacturing
- 7.4 Infrastructure
- 7.5 Energy & Utilities
- 7.6 Ports/Airports
- 7.7 Retail
- 7.8 Other End Users
8 Global Private Security Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Allied Universal Security Services LLC
- 10.2 Securitas AB
- 10.3 Secom Co., Ltd.
- 10.4 ADT Inc.
- 10.5 The Brink's Company
- 10.6 ISS A/S
- 10.7 Prosegur Compania de Seguridad, S.A
- 10.8 Loomis AB
- 10.9 GardaWorld Corporation
- 10.10 ICTS International N.V.
- 10.11 SIS Group Enterprise
- 10.12 Kingdom Protection Services Pvt. Ltd.
- 10.13 AMZ Sicherheitsdienste GmbH
- 10.14 Hanwei International Security Services Co. Ltd.
- 10.15 Ava Security
- 10.16 DynCrop
- 10.17 G4S Plc.
- 10.18 CACI International Inc.
- 10.19 ADT Inc.
- 10.20 Japan Security and Intelligence Corps.
List of Tables
- Table 1 Global Private Security Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 3 Global Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 4 Global Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 5 Global Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 6 Global Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 7 Global Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 8 Global Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 9 Global Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 10 Global Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 11 Global Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 12 Global Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 13 Global Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 14 Global Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 15 Global Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 16 Global Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 17 Global Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 18 Global Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 19 Global Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 20 North America Private Security Market Outlook, By Country (2021-2030) ($MN)
- Table 21 North America Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 22 North America Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 23 North America Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 24 North America Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 25 North America Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 26 North America Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 27 North America Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 28 North America Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 29 North America Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 30 North America Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 31 North America Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 32 North America Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 33 North America Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 34 North America Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 35 North America Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 36 North America Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 37 North America Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 38 North America Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 39 Europe Private Security Market Outlook, By Country (2021-2030) ($MN)
- Table 40 Europe Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 41 Europe Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 42 Europe Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 43 Europe Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 44 Europe Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 45 Europe Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 46 Europe Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 47 Europe Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 48 Europe Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 49 Europe Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 50 Europe Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 51 Europe Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 52 Europe Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 53 Europe Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 54 Europe Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 55 Europe Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 56 Europe Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 57 Europe Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 58 Asia Pacific Private Security Market Outlook, By Country (2021-2030) ($MN)
- Table 59 Asia Pacific Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 60 Asia Pacific Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 61 Asia Pacific Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 62 Asia Pacific Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 63 Asia Pacific Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 64 Asia Pacific Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 65 Asia Pacific Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 66 Asia Pacific Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 67 Asia Pacific Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 68 Asia Pacific Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 69 Asia Pacific Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 70 Asia Pacific Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 71 Asia Pacific Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 72 Asia Pacific Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 73 Asia Pacific Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 74 Asia Pacific Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 75 Asia Pacific Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 76 Asia Pacific Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 77 South America Private Security Market Outlook, By Country (2021-2030) ($MN)
- Table 78 South America Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 79 South America Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 80 South America Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 81 South America Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 82 South America Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 83 South America Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 84 South America Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 85 South America Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 86 South America Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 87 South America Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 88 South America Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 89 South America Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 90 South America Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 91 South America Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 92 South America Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 93 South America Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 94 South America Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 95 South America Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 96 Middle East & Africa Private Security Market Outlook, By Country (2021-2030) ($MN)
- Table 97 Middle East & Africa Private Security Market Outlook, By Service Type (2021-2030) ($MN)
- Table 98 Middle East & Africa Private Security Market Outlook, By Manned Security (2021-2030) ($MN)
- Table 99 Middle East & Africa Private Security Market Outlook, By Electronic Security Services (2021-2030) ($MN)
- Table 100 Middle East & Africa Private Security Market Outlook, By Cash Services (2021-2030) ($MN)
- Table 101 Middle East & Africa Private Security Market Outlook, By Other Service Types (2021-2030) ($MN)
- Table 102 Middle East & Africa Private Security Market Outlook, By Application (2021-2030) ($MN)
- Table 103 Middle East & Africa Private Security Market Outlook, By Commercial (2021-2030) ($MN)
- Table 104 Middle East & Africa Private Security Market Outlook, By Residential (2021-2030) ($MN)
- Table 105 Middle East & Africa Private Security Market Outlook, By Government (2021-2030) ($MN)
- Table 106 Middle East & Africa Private Security Market Outlook, By Industrial (2021-2030) ($MN)
- Table 107 Middle East & Africa Private Security Market Outlook, By End User (2021-2030) ($MN)
- Table 108 Middle East & Africa Private Security Market Outlook, By BFSI (2021-2030) ($MN)
- Table 109 Middle East & Africa Private Security Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 110 Middle East & Africa Private Security Market Outlook, By Infrastructure (2021-2030) ($MN)
- Table 111 Middle East & Africa Private Security Market Outlook, By Energy & Utilities (2021-2030) ($MN)
- Table 112 Middle East & Africa Private Security Market Outlook, By Ports/Airports (2021-2030) ($MN)
- Table 113 Middle East & Africa Private Security Market Outlook, By Retail (2021-2030) ($MN)
- Table 114 Middle East & Africa Private Security Market Outlook, By Other End Users (2021-2030) ($MN)
