Private security services market size is set to grow by USD 56.33 billion from 2021 to 2026: Rapid urbanization to boost the market - Technavio

NEW YORK, March 23, 2023 /PRNewswire/ -- The global private security services market size is estimated to grow by USD 56.33 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 4.81% during the forecast period. Moreover, the growth momentum will accelerate. Rapid urbanization is driving market growth. Many people moved to urban areas in the last few decades, especially in emerging economies, for better employment opportunities. This, in turn, has increased the number of construction of residential and commercial complexes in urban areas, which require private security services. The popularity of virtual security systems is a key trend in the market. Some of the common applications of virtual security systems include retail security, construction security, residential complex security, parking lot security, hotel security, and government institution security. Virtual security systems are a cost-effective tool. With the increasing labor wages, virtual security systems will become prominent. Hence, Technavio expects virtual security systems to be a key trend. For more insights on the market - Request a sample report

Why buy?

• Add credibility to strategy
• Analyzes competitor's offerings
• Get a holistic view of the market

Grow your profit margin with Technavio – Buy the report!

Private security services market - Segmentation assessment
Segment overview

Technavio has segmented the market based on end-user (industrial, residential, financial institutions, and others) and service (manned guarding, electronic security services, and cash services). 

• The industrial segment will account for a significant share of market growth during the forecast period. This segment is the largest adopter of security services such as manned guarding and electronic security systems. Rapid urbanization and the increasing population are driving the demand for various products. As a result, the number of manufacturing activities is increasing globally. These factors are creating a significant demand for private security services.

Geography overview

Based on geography, the global private security services market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global private security services market.

• APAC will account for 31% of the global market's growth during the forecast period. The region has some of the fastest-growing economies in the world, such as China, India, Thailand, and Indonesia, which are witnessing rapid economic development. Economic growth in these countries supports infrastructural development. Rapid urbanization is creating significant demand for residential and commercial complexes, thereby fueling the demand for private security services. Moreover, governments of countries in APAC are investing in the capacity expansion of existing airports in many cities. The growing investments in public infrastructure will create significant demand for private security services. The increasing number of terror threats and homicide cases in APAC is also fueling the demand for private security services in the region. 

Insights on the market contribution of various segments - Download a sample report

Private security services market – Major challenges hindering the market growth

• The shortage of private security personnel will challenge the private security services market growth during the forecast period.
• The demand for private security services is increasing due to the rapid growth of the urban population globally.
• The expansion of the private security services market is dependent on manned security services.
• However, private security service providers are facing a shortage of skilled security personnel.
• Factors such as a lack of career path, the disparity in pay packages, and long working hours are leading to this shortage.
• These factors will impede market growth globally during the forecast period.

Insights on market challenges - Request a sample report!

What are the key data covered in this private security services market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the private security services market between 2022 and 2026
• Precise estimation of the size of the private security services market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the private security services market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of private security services market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The manned security services market size is expected to increase by USD 53.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.31%. Furthermore, this report extensively covers market segmentation by application (commercial buildings, industrial buildings, and residential buildings) and geography (APAC, North America, Europe, MEA, and South America).

The security services market size is expected to increase by USD 36.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.41%. Furthermore, this report extensively covers the security services market segmentation by component (SaaS security services, managed security services, security consulting services, and threat intelligence security services) and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

Browse for Technavio Industrials Market reports

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments 
• Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)

• 5.2 Comparison by End-user 
• Exhibit 27: Chart on Comparison by End-user
• Exhibit 28: Data Table on Comparison by End-user

• 5.3 Industrial - Market size and forecast 2021-2026
• Exhibit 29: Chart on Industrial - Market size and forecast 2021-2026 ($ billion)
• Exhibit 30: Data Table on Industrial - Market size and forecast 2021-2026 ($ billion)
• Exhibit 31: Chart on Industrial - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

• 5.4 Residential - Market size and forecast 2021-2026
• Exhibit 33: Chart on Residential - Market size and forecast 2021-2026 ($ billion)
• Exhibit 34: Data Table on Residential - Market size and forecast 2021-2026 ($ billion)
• Exhibit 35: Chart on Residential - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Residential - Year-over-year growth 2021-2026 (%)

• 5.5 Financial institutions - Market size and forecast 2021-2026 
• Exhibit 37: Chart on Financial institutions - Market size and forecast 2021-2026 ($ billion)
• Exhibit 38: Data Table on Financial institutions - Market size and forecast 2021-2026 ($ billion)
• Exhibit 39: Chart on Financial institutions - Year-over-year growth 2021-2026 (%)
• Exhibit 40: Data Table on Financial institutions - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 41: Chart on Others - Market size and forecast 2021-2026 ($ billion)
• Exhibit 42: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
• Exhibit 43: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 44: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by End-user 
• Exhibit 45: Market opportunity by End-user ($ billion)

6 Market Segmentation by Service

• 6.1 Market segments 
• Exhibit 46: Chart on Service - Market share 2021-2026 (%)
• Exhibit 47: Data Table on Service - Market share 2021-2026 (%)

• 6.2 Comparison by Service 
• Exhibit 48: Chart on Comparison by Service
• Exhibit 49: Data Table on Comparison by Service

• 6.3 Manned guarding - Market size and forecast 2021-2026
• Exhibit 50: Chart on Manned guarding - Market size and forecast 2021-2026 ($ billion)
• Exhibit 51: Data Table on Manned guarding - Market size and forecast 2021-2026 ($ billion)
• Exhibit 52: Chart on Manned guarding - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Manned guarding - Year-over-year growth 2021-2026 (%)

• 6.4 Electronic security services - Market size and forecast 2021-2026 
• Exhibit 54: Chart on Electronic security services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 55: Data Table on Electronic security services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Chart on Electronic security services - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Electronic security services - Year-over-year growth 2021-2026 (%)

• 6.5 Cash services - Market size and forecast 2021-2026
• Exhibit 58: Chart on Cash services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 59: Data Table on Cash services - Market size and forecast 2021-2026 ($ billion)
• Exhibit 60: Chart on Cash services - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Cash services - Year-over-year growth 2021-2026 (%)

• 6.6 Market opportunity by Service 
• Exhibit 62: Market opportunity by Service ($ billion)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 64: Chart on Market share by geography 2021-2026 (%)
• Exhibit 65: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 66: Chart on Geographic comparison
• Exhibit 67: Data Table on Geographic comparison

• 8.3 APAC - Market size and forecast 2021-2026
• Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.4 North America - Market size and forecast 2021-2026
• Exhibit 72: Chart on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 73: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 74: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.5 Europe - Market size and forecast 2021-2026
• Exhibit 76: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 77: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 78: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026
• Exhibit 80: Chart on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 81: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 82: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 84: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 85: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 86: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 US - Market size and forecast 2021-2026
• Exhibit 88: Chart on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 89: Data Table on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 90: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.9 China - Market size and forecast 2021-2026
• Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.10 India - Market size and forecast 2021-2026
• Exhibit 96: Chart on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 97: Data Table on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 98: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 99: Data Table on India - Year-over-year growth 2021-2026 (%)

• 8.11 Germany - Market size and forecast 2021-2026
• Exhibit 100: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 101: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
• Exhibit 102: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 103: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.12 UK - Market size and forecast 2021-2026
• Exhibit 104: Chart on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 105: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
• Exhibit 106: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 107: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 108: Market opportunity by geography ($ billion)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 112: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 113: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 11.3 ADT INC. 
• Exhibit 115: ADT INC. - Overview
• Exhibit 116: ADT INC. - Product / Service
• Exhibit 117: ADT INC. - Key news
• Exhibit 118: ADT INC. - Key offerings

• 11.4 Allied Universal 
• Exhibit 119: Allied Universal - Overview
• Exhibit 120: Allied Universal - Product / Service
• Exhibit 121: Allied Universal - Key news
• Exhibit 122: Allied Universal - Key offerings

• 11.5 GardaWorld Security Corp. 
• Exhibit 123: GardaWorld Security Corp. - Overview
• Exhibit 124: GardaWorld Security Corp. - Product / Service
• Exhibit 125: GardaWorld Security Corp. - Key news
• Exhibit 126: GardaWorld Security Corp. - Key offerings

• 11.6 ISS AS 
• Exhibit 127: ISS AS - Overview
• Exhibit 128: ISS AS - Business segments
• Exhibit 129: ISS AS - Key news
• Exhibit 130: ISS AS - Key offerings
• Exhibit 131: ISS AS - Segment focus

• 11.7 Loomis AB 
• Exhibit 132: Loomis AB - Overview
• Exhibit 133: Loomis AB - Business segments
• Exhibit 134: Loomis AB - Key news
• Exhibit 135: Loomis AB - Key offerings
• Exhibit 136: Loomis AB - Segment focus

• 11.8 Monitronics International Inc. 
• Exhibit 137: Monitronics International Inc. - Overview
• Exhibit 138: Monitronics International Inc. - Product / Service
• Exhibit 139: Monitronics International Inc. - Key offerings

• 11.9 Prosegur Compania de Seguridad SA 
• Exhibit 140: Prosegur Compania de Seguridad SA - Overview
• Exhibit 141: Prosegur Compania de Seguridad SA - Business segments
• Exhibit 142: Prosegur Compania de Seguridad SA - Key offerings
• Exhibit 143: Prosegur Compania de Seguridad SA - Segment focus

• 11.10 SECOM Plc 
• Exhibit 144: SECOM Plc - Overview
• Exhibit 145: SECOM Plc - Business segments
• Exhibit 146: SECOM Plc - Key offerings
• Exhibit 147: SECOM Plc - Segment focus

• 11.11 Securitas AB 
• Exhibit 148: Securitas AB - Overview
• Exhibit 149: Securitas AB - Product / Service
• Exhibit 150: Securitas AB - Key news
• Exhibit 151: Securitas AB - Key offerings

• 11.12 SIS Ltd. 
• Exhibit 152: SIS Ltd. - Overview
• Exhibit 153: SIS Ltd. - Business segments
• Exhibit 154: SIS Ltd. - Key offerings
• Exhibit 155: SIS Ltd. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 156: Inclusions checklist
• Exhibit 157: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 158: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 159: Research methodology
• Exhibit 160: Validation techniques employed for market sizing
• Exhibit 161: Information sources

• 12.5 List of abbreviations 
• Exhibit 162: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/private-security-services-market-size-is-set-to-grow-by-usd-56-33-billion-from-2021-to-2026-rapid-urbanization-to-boost-the-market---technavio-301777702.html

SOURCE Technavio

[ Back To TMCnet.com's Homepage ]