Manned Protection Equipped With Technology Will Be The Key Driver

Rockville MD, September 23, 2022 (GLOBE NEWSWIRE) — The global security services market is currently worth US$89.7 billion and is currently expected to make progress, according to the latest report by Fact.MR, a provider of market research and competitive intelligence. A CAGR of 4.3% between 2022 and 2032. The market is poised for growth due to advances in technology and positive economic trends.

By investing in new technology platforms and systems, companies can improve manned guard protection by providing more precise accuracy on an issue, faster response time, and providing a safer environment for guards. Security technology can help detect and prevent threats and provide the information we need to safely and effectively respond to any emerging threat.

Advancement of technology in the security industry can improve the service offerings of security services market players. Packaged products can be used in both residential and commercial areas. Manned protection with technology is a great way to protect a business. Additionally, the presence of a security camera can help reduce the possibility of theft and vandalism, and can also reduce the cost of insurance.

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Growing Corporate Revenue will be Driand Security Services Request

The return of global businesses to normal operations has led to an increase in revenue available for security services. Business start-up and construction projects are growing in popularity. As the global economy continues to grow, the need for secure infrastructure in industrial complexes, offices, IT parks and other public facilities is growing.

An increasing number of Tier 1 and Tier 2 cities has led to rapid growth in the construction of residential buildings. Increasing urban population will positively affect the demand for security services.

Growing Sociallytal tensions are a blessing in disguise

Many people today see the world as a more dangerous place than ever before. This is due to various dangers such as terrorism and computer viruses, as well as fraud and organized crime. Public sector organizations continue to outsource many security services to the private sector in response to budget cuts and changing threats. This gets more complicated as security issues get more complex.

The trend of regulating private security providers continues, which helps increase public confidence in these services. Customers in both the general public and private and public sectors have seen an increase in their use. As security concerns grew, so did the demand for security-related products and services.

Key Takeaways from Market Research

  • The global security services market is expected to expand at a CAGR of 4.3% and be worth $136.6 billion by 2032.
  • The market expanded at 4.1% CAGR from 2017 to 2021.
  • Under the service type, security guard services lead the market and were valued at US$45.6 billion in 2021.
  • North America is the leader in the world market with a market share of 28%.
  • Revenue from security services is expected to increase at CAGRs of 4.2% and 4.4% in Europe and South Asia and Oceania, respectively.

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Market Development

The business environment in the security product integration services market continues to reflect a recovery in the industry despite fierce competition among major players. Leading market players are using organic and non-organic strategies to gain a solid foothold in the market.

  • For example, Allied Universal, one of the biggest players in the security services market, was on a buying spree in 2021 and G4S, Inc. Acquired approximately 10 companies, including the company, for US$4.3 billion.

Security firms are expanding their services by providing technology-enabled services such as CCTV surveillance, access control systems and fire alarm systems. The combination of security guards at a client’s site as well as off-site surveillance cameras can provide greater security.

Competitive Landscape

Leading security service providers ADT, Inc., Allied Universal, Garda World, Securitas AB, AP Securitas Pvt. Ltd., AMAG Technology, Amentum, Blackpanda, Booz Allen Hamilton, Fujitsu, Kudelski Security, Mitie Total Security Management plc, Nihon Cyber ​​Defense, OCS Group UK Ltd, Standard Guard Services Limited, The Brink’s Company, Trend Micro, Unified Security Group, Wilson Security, Fireball Group, and Prosegur.

Top global security service providers seek market share through mergers and acquisitions, expansions into new geographies, and partnerships.

  • In 2021, Allied Universal, a leading security service provider, acquired 10 companies, including G4S, for US$4.3 billion.
  • In April 2021, The Brink’s Company acquired PAI, Inc., the largest private ATM cash service in the United States, for $213 million.

segmentstation Security Services Industry Survey

  • By Service Type:
    • Alarm Systems
    • Background Verification
    • Fire and Security
    • Patrol Vehicles
    • Security Guard Services
    • Security Consulting Services
  • By End-Use Industry:
    • Aviation
    • Defense and Aerospace
    • Distribution and Logistics
    • Education
    • financial institution
    • Government Institution
    • Health care
    • Hotel and Accommodation
    • Industrial and Manufacturing
    • Real estate
    • Public Transport and Public Transport
    • Auxiliary Industry
  • By region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • THING

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More Valuable Insights Offered

In its new offering, Fact.MR presents an unbiased analysis of the global security services market, presents historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study lays out key information based on the type of service (alarm systems, background verification, fire and security, patrol vehicles, security guard services, security consulting services) and end-use industry (aerospace, defense and aerospace, distribution and logistics, education). , financial institution, government agency, healthcare, hotel and hospitality, industry and manufacturing, real estate, public transport and public transport, utility industry), in major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania) and the Middle East and Africa).

Check out other related studies published by Fact.MR Research:

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