Going forward, the security service market will also be supported by an improved economic environment and building construction activity, notably in developed nations that saw significant slowdowns late in the 2006-2011 period.
Developing areas to post strongest market gains
The strongest market gains will be posted in developing parts of Asia, Eastern Europe, Africa and the Middle East where security markets are relatively underdeveloped. In fact, several national markets, including China, India, Mexico, Russia, and South Africa, are expected to achieve double-digit annual growth through 2016.
In many of these areas, the intensity of security service use (measured against indicators such as GDP and urban population) is relatively low, indicating significant growth potential going forward. Factors such as rapid gains in economic activity, rising personal incomes, foreign investment activity, and the increasing belief that public safety forces are overburdened, corrupt or unable to provide sufficient protection will boost gains. Furthermore, increasing regulation and a trend toward greater professionalism in many of these local security service markets will improve public trust in security service businesses, thereby driving market gains.
US to remain largest national consumer
The US will remain the largest single consumer of private contract security services, accounting for 26 percent of total world demand in 2016. While the US is a relatively mature market for security services, the sheer size of the US means that it will account for more than one-fifth of total global increases between 2011 and 2016, even with a below average growth rate. However, that level will be matched by the combined gains of a few rising markets. For instance, India and China will together account for 13 percent of worldwide gains and Brazil, the world’s second largest single market in 2011, will represent another seven percent of global growth.
Contract guarding to remain largest, alarm monitoring to grow fastest
Contract guarding will continue to be the largest segment of the market, accounting for more than half of total revenues in 2016. This segment benefits from the minimal capital requirements for operation which, along with relatively low labor costs, make it the dominant security service in the developing markets. The alarm monitoring market is expected to see the strongest growth, spurred by rising interest in alarm systems coupled with the improved outlook for building construction.
Profiles for 37 participants in the global industry such as Brinks, G4S, Prosegur, Secom, Securitas, and Tyco International
This study analyzes global markets for private contractual security services. Markets covered include
guard and guard patrol services
central station alarm monitoring services
armored car transport and related cash handling and automated
teller machine (ATM) services (jointly termed cash-in-transit/
private management of public adult correctional facilities
private investigations, security consulting, systems integration, and other miscellaneous security services
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