US demand to rise 5.2% annually through 2016
US demand for private contracted security services is projected to increase 5.2 percent annually to $63.8 billion in 2016. The market will be supported by a high perceived risk of crime (from conventional violent and property crimes to white collar crimes and terrorism) and a concern that public safety officials are overburdened. The outsourcing of security activities to contracted firms, instead of relying on in-house security, will support demand. The privatization of some public safety operations, such as guarding government facilities and correctional facilities management, will also boost gains. http://www.bharatbook.com/
Higher tech services hold especially good prospects
Security services that capitalize on continuing technological developments hold especially good prospects. For instance, both security consulting and systems integration revenues will see above-average growth. Security consultants and systems integrators are able to manage a wide variety of services when creating, upgrading or implementing security plans and when installing or upgrading complex electronic security devices. In addition, the trend toward more sophisticated and automated security electronics that are increasingly integrated with other building operations will boost growth for these services.
Labor intensive services to see below average growth
In contrast, security services (http://www.bharatbook.com) that are more labor intensive, such as private investigations and armored transport, are expected to see below average growth. These services face strong competition from a range of technological advancements, including improvements in security systems, information technology and, in the case of armored transport, electronic finance. In contrast, security guarding, though also labor intensive, will see solid gains through 2016 as providers continue to promote valueadded services and features, emphasizing their guards’ special skills and high level of training as a way to differentiate themselves from low-price vendors.
Residential market to outpace nonresidential
Security service requirements vary across the major markets, influenced by factors such as exposure to potential loss, the nature of the customers’ activities, and the availability of alternative security options. In 2012, the nonresidential market accounted for approximately three-fourths of all private security services demand. However, through 2016 the residential market is expected to outpace the nonresidential market, benefiting from the recovery in housing construction, which will spur strong growth in residential alarm monitoring.
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