The global physical security services market reached a value of almost USD 300 billion in 2019. The industry is further expected to grow at a CAGR of 6% between 2020 and 2025 to reach a value of nearly USD 425.6 billion by 2025.
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The market for global physical security services is driven by the increase in crime rates, social unrest within countries, and rising terrorism. Developed countries account for half the market. The market in developed economies is being driven by the rising large-sized contracts in these regions. While the contract size is comparatively smaller in emerging economies, these regions are expected to witness a higher growth rate as compared to mature markets like Europe and the United States of America. Europe is the leading market within the industry, with the market being driven by the technological advancements in the industry and a shift away from manned security services. Europe is followed by the Asia Pacific as the second-largest market for physical security services. The Asia Pacific is expected to witness the fastest growth in the coming years and is expected to be driven by the rising adoption of technologies like CCTV and biometrics in Asian countries like China, India, and Japan.
There has been massive innovation in the security services lately. Smart technology is currently being used for monitoring and managing security workforces. Real-time incident reporting and GPS tracking have led to significant advances in employee accountability while integrating apps with employee smartphones have allowing improved communication and efficiency. Security equipment used by guards has also undergone developments, such as vapour tracer, which enables detection and identification of all types of vapours and traces of organic, biological, and chemical compounds correctly and in brief time. It is chiefly used in the detection of explosive devices and all types of narcotics. Advancements have also been made in existing products, such as CCTV, access control, etc., where the products are getting equipped with features such as 360-degree view CCTV, Bluetooth Enabled Access Control, etc. These technological advancements in the physical security market are expected to drive the growth of the market in the coming years.
Properties and Applications
Physical security services provide security from the unauthorised access of resources, facilities, and equipment, thus, protecting personnel or property from harm or damage caused by espionage, terrorist attacks, or theft, among other threats. Based on services, the market can be segmented into:
On the basis of end-use, the industry can be divided into:
The report also covers the regional markets of the service like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The market for global physical security services is being driven by the low cost of new technologies such as CCTV and electronic surveillance systems. The threat to data security provides further impetus, causing a rise in the market growth. The market is propelled by the increasing threats of social insecurity, terrorism, and rising crime rates, raising the concern for securing assets, employees, and information. The physical security service suppliers will have a potential growth period due to the increase in infrastructures, such as malls and office complexes, which in turn require more workforce. The rising demand for security services in different industries is aiding the market for physical security services.
The rising social insecurity is prompting the buyers to be more proactive in securing their premises, further augmenting the global physical security services industry. Advanced technology helps reduce labour costs by diminishing the number of labour required. Increasing the investments in unmanned guarding will reduce the cost of services as it is directly related to the labour cost. In recent times, more firms are being asked to provide additional services outside the security role, like janitorial duties, executive chauffeur services, handyman services, or even valet services at hotels; hence, the security guards need to have specialized training, further driving the market. The scope of services within physical security is also on the rise as cash management, cybersecurity, etc. are developing, thus, further enhancing the market for physical security services.
The rise in the physical security services industry is providing increased specialisation to the other sectors, such as schools, contracts, homeowners' associations, retail environments, banks, and hotels, among others. The developing regions are adopting technology, which requires high capital investments, now that the market is mature in the developed regions, thus, further boosting the market growth.
The report gives a detailed analysis of the following key players in the global security services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Physical Security Services Market Analysis
6.1 Figure: Global Physical Security Services Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Global Physical Security Services Market Breakup by Services
6.2.1 Manned Guarding
6.2.2 Electronic Security
6.2.3 Cash Solution
6.3 Figure: Global Physical Security Services Market Breakup by Services: Historical Market (2015-2019) & Forecast (2020-2025)
6.3.1 Manned Guarding
6.3.2 Electronic Security
6.3.3 Cash Solution
6.4 Chart: Global Physical Security Services Market Breakup by End Use
6.4.2 Energy Utility
6.5 Chart: Global Physical Security Services Market Breakup by End Use: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.2 Energy Utility
6.6 Chart: Global Physical Security Services Market Breakup by Region
6.6.1 North America
188.8.131.52 United States of America
184.108.40.206 United Kingdom
6.6.3 Asia Pacific
6.6.4 Latin America
6.6.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
6.7 Figure: Global Physical Security Services Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.7.1 North America
126.96.36.199 United States of America
188.8.131.52 United Kingdom
6.7.3 Asia Pacific
6.7.4 Latin America
6.7.5 Middle East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
7 SWOT Analysis
8 Porter’s Five Forces Analysis
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
9 Value Chain Analysis
10 EMR’s Key Indicators for Demand
11 EMR’s Key Indicators for Price
12 Procurement Strategy
12.1 Sourcing Model
12.2 Engagement Models
12.3 Switching Costs
12.4 Key Performance Indicators
13 Cost Analysis
13.1 People Cost
13.2 Administration Cost
13.3 Technology Cost
13.4 Facilities Cost
13.5 Equipment Cost
14 Competitive Landscape & Supplier Analysis
14.1 G4S Plc
14.1.1 Company Overview
14.1.2 Financial Analysis
14.2 Securitas AB
14.2.1 Company Overview
14.2.2 Financial Analysis
14.3 GardaWorld Corporation
14.3.1 Company Overview
14.3.2 Financial Analysis
14.4 Brink's Incorporated
14.4.1 Company Overview
14.4.2 Financial Analysis
14.5.1 Company Overview
14.5.2 Financial Analysis
14.6 Agile Security Force & Systems Pvt. Ltd.
14.6.1 Company Overview
14.6.2 Financial Analysis
14.7 Securiguard Services Limited
14.7.1 Company Overview
14.7.2 Financial Analysis
14.8 Allied Universal
14.8.1 Company Overview
14.8.2 Financial Analysis
15 Events and Developments
The global physical security services attained a value of nearly USD 300 billion in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 6%. The market is projected to reach a value of around USD 425.6 billion by 2025.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on services, the global physical security services market can be segmented into manned guarding, electronic security, and cash solution, among others. It finds its end-uses in industrial, energy utility, commercial, retail, government, BFSI, and airports, among others. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the market, with Europe leading the overall global market. The key players in the above industry are LyondellBasell Industries Holdings B.V., China Petroleum & Chemical Corporation (Sinopec Corp.), PetroChina Company Limited, Braskem, SABIC, TOTAL Polymers, Reliance Industries Limited, Exxon Mobil Corporation, and Formosa Plastics Corporation, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, rising adoption of technology, growing infrastructure and end-used industries, and rising specialisation and integration of services are driving the growth of the industry globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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