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Global Physical Security Services Market is Expected to Grow at a CAGR of 6% in the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Physical Security Services Market Report and Forecast 2022-2027’, the global physical security services market reached a value of USD 300 billion in 2020. The market is likely to grow further in the forecast period of 2022-2027 at a CAGR of 6% to attain a value of USD 425.6 billion by 2026.

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, The Brink’s Company (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:

  • The services included in the market are manned guarding, electronic security, and cash solution, among others.
  • The end-uses of the market include industrial, energy utility, commercial, retail, government, BFSI, and airports, among others.
  • The major regions for the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global physical security market is being driven by the increased penetration of technologies like CCTV and electronic surveillance systems.
  • The increasing threat to data security provides further impetus to the market growth.
  • The rising threat of growing crime rates, as well as terrorism, has increased the need to secure assets and data, thus, catalysing the market growth.
  • The growing infrastructure sector is also boosting the growth of the physical security services market.
  • The physical security service market is also being aided by the growing cash management and cyber security sectors.

Key Offerings of the Report:

  • The EMR report provides an overview of the global physical security services market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the services, end-uses, and major regions of physical security services.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major key players in the global physical security services market include Securitas AB, Garda World Security Corporation, Brinks Security Services Limited, Agile Security Force, Securiguard Services Ltd., Allied Universal Security Services, and The Brink’s Company, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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