Manned protection tied to technology will be a key driver

ROCKVILLE, MD, Sept. 23, 2022 (GLOBE NEWSWIRE) — The global security services market is currently valued at $89.7 billion and is expected to grow by 4.3%, according to a new report from market research and competitive intelligence provider Fact.MR The CAGR of growth between 2022 and 2032. The market is expected to grow owing to technological advancements and positive economic trends.

By investing in new technology platforms and systems, companies can enhance attended protection by providing more precise problem accuracy, faster response times and a safer environment for guards. Security technology can help detect and prevent threats and provide us with the information we need to safely and effectively respond to any emerging threats.

Technological advancement in the security industry can improve the service offerings of security services market players. Bundled products are available for residential and commercial spaces. Attendance with technology is a great way to protect your business. Additionally, the presence of security cameras helps reduce the chance of theft and vandalism, and can also reduce insurance costs.

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Growing corporate revenues willThe need for security services

The return to normal operations of the global business resulted in an increase in the revenue available for security services. Entrepreneurship and construction projects are growing in popularity. As the global economy continues to grow, the need for secure infrastructure in industrial parks, offices, IT parks and other public facilities is increasing.

The growing number of first- and second-tier cities has led to rapid growth in residential construction. The growing urban population will positively impact the demand for security services.

Increase societyTension is a blessing in disguise

Many people believe that today’s world is more dangerous than ever. This is due to various dangers, including 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 evolving threats. This becomes more complicated as security challenges become more complex.

The trend of regulating private security providers continues, helping to increase public confidence in these services. Both public and private and public sector customers have seen an increase in their use. As security concerns increase, so does the demand for security-related products and services.

The main content of market research

  • The global security services market will grow at a CAGR of 4.3% to reach USD 136.6 billion by 2032.
  • From 2017 to 2021, the market will grow at a CAGR of 4.1%.
  • Under service type, security services leads the market, valued at USD 45.6 billion in 2021.
  • North America leads the global market with a 28% market share.
  • In Europe, South Asia and Oceania, revenue from security services is expected to grow at a CAGR of 4.2% and 4.4%, respectively.

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market development

Despite the intense competition among the key players, the business environment of the Security Products Integration Services market continues to reflect the aggregation within the industry. To gain a firm foothold in the market, prominent market players are employing both organic and non-organic strategies.

  • For example, in 2021, Allied Universal, one of the major players in the security services market, went on an acquisition spree, acquiring about 10 companies, including G4S, Inc., for a whopping $4.3 billion.

Security companies are expanding their services by offering tech-enabled services such as CCTV surveillance, access control systems and fire alarm systems. A combination of security guards at the customer’s site and cameras monitoring off-site can provide greater security.

Competitive Landscape

Well-known security service providers are 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​​​ Defence, 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 are trying to gain market share through mergers and acquisitions, expansion into new regions, and partnerships.

  • In 2021, Allied Universal, one of the major security service providers, acquired 10 companies including G4S for $4.3 billion.
  • In April 2021, The Brink’s Company acquired PAI, Inc., the largest privately held ATM cash services company in the United States, for $213 million.

Segmestand or Security Services Industry Survey

  • By service type:
    • alarm system
    • background verification
    • Fire and Safety
    • cruiser
    • Security service
    • Security Consulting Services
  • By end-use industry:
    • aviation
    • Defense and Aerospace
    • Distribution and Logistics
    • educate
    • Financial institution
    • government agency
    • health care
    • Hospitality and Hospitality
    • Industry and Manufacturing
    • real estate
    • Transportation and Public Transportation
    • Utilities
  • By region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • multilateral environmental agreements

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Provide more valuable insights

Fact.MR provides an unbiased analysis of the global Security Services market in its new offering, providing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The research reveals fundamental insights based on service type (alarm systems, background verification, fire and security, patrol vehicles, security services, security consulting services) and end-use industries (aviation, defense and aerospace, distribution and logistics, education), financial Institutions, Government Agencies, Healthcare, Hospitality and Hospitality, Industry and Manufacturing, Real Estate, Transportation and Mass Transit, Utilities) in major world regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East and Africa).

Check out more related research published by Fact.MR Research:

fire alarm system market – The global demand for fire alarm systems is expected to grow at a CAGR of 6.6% between 2022 and 2032. Currently, the global fire alarm system market is valued at USD 30.12 billion and is expected to reach USD 57.08 billion by 2032.

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