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The global physical security services market is being driven by the rising demand from developed countries in North America and Western Europe. The Latin American and the Middle Eastern regions are also likely to witness a healthy growth in the coming years. The Asia Pacific market is expected to witness a robust growth in the coming years owing to the increasing technological advancements within the region, such as CCTV and biometrics. The Asia Pacific market is aided by the booming infrastructure industry in countries like India and China.
The physical security services market is also being significantly driven by the rapid innovation and technological advancements. The increased use of these services in companies is driving the physical security services market forward. Physical security providers are evolving towards a system that offers more specific solutions and a higher level of functionality and operation. Instead of considering physical security hardware or software systems, the market has begun to move towards a system that provides more protection as a service to effectively run security operations.
The market is expected to be aided by the growing footprint of the key players and the rising M&A activities among the key players in the market. In August 2018, Brink's Incorporated (NYSE: BCO), one of the key players, announced its acquisition of Dunbar Armored Inc., one of the leading companies in the cash management space of the United States of America. Brink expects considerable annual growth with this acquisition.
Market Analysis by Services, End Use, and Region:
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The major key players in the global physical security services market include G4S Plc, Securitas AB, GardaWorld Corporation, Brink's Incorporated, Prosegur, Agile Security Force & Systems Pvt. Ltd., Securiguard Services Limited, and Allied Universal, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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