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Global Physical Security Services Market: By Services: Manned Guarding, Electronic Security, Cash Solution, Others; By End Use: Industrial, Energy Utility, Commercial, Retail, Government, BFSI, Airports, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Physical Security Services Market Outlook
The global physical security services market reached a value of almost USD 337.08 billion in 2022. The market is further expected to grow at a CAGR of 6% between 2023 and 2028.
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Growing Crime Rates and Security Concerns Propelling the Market Growth of Physical Security
The global physical security services market 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 which is driven by technological advancements 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’s smartphones have led to 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 services market are expected to drive the growth of the market in the coming years.
Digital Transformation Bolstering the Market for Physical Security Services
The increasing digital transformation in the physical security services market to effectively predict and mitigate threats is propelling the market growth. Physical security service providers are increasingly leveraging various technologies to enhance their operational efficiency and reduce operating costs. With the growing adoption of the Internet of things (IoT) and cloud connectivity, physical security services can process data to deliver meaningful insights and enhance operational decision-making. Moreover, the use of advanced sensors in physical security services to automate the detection of threatening objects in commercial, residential, and public spaces is augmenting the market expansion. Moreover, the surging investments in innovating physical security services by the leading companies are expected to significantly contribute to the market growth in the forecast period.
Market Segmentation
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.
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Based on services, the market can be segmented into:
- Manned Guarding
- Electronic Security
- Cash Solution
- Others
On the basis of end-use, the market can be divided into:
- Industrial
- Energy Utility
- Commercial
- Retail
- Government
- BFSI
- Airports
- Others
The report also covers the regional markets of the service like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Cost-Effectiveness of Innovative Technologies to Aid the Market Growth of Physical Security Services
The global physical security services market 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 market. 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 specialised 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 market 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.
Key Players in the Global Market for Physical Security Services
The report gives a detailed analysis of the following key players in the global physical security services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Securitas AB
- Garda World Security Corporation
- Brinks Security Services Limited
- Agile Security Force
- Securiguard Services Ltd.
- Allied Universal Security Services
- The Brink’s Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Services, End Use, Region |
| Breakup by Services | Manned Guarding, Electronic Security, Cash Solution, Others |
| Breakup by End Use | Industrial, Energy Utility, Commercial, Retail, Government, BFSI, Airports, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Securitas AB, Garda World Security Corporation, Brinks Security Services Limited, Agile Security Force, Securiguard Services Ltd., Allied Universal Security Services, The Brink’s Company, Others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Physical Security Services Market Analysis
8.1 Key Industry Highlights
8.2 Global Physical Security Services Historical Market (2018-2022)
8.3 Global Physical Security Services Market Forecast (2023-2028)
8.4 Global Physical Security Services Market by Services
8.4.1 Manned Guarding
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Electronic Security
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Cash Solution
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Physical Security Services Market by End Use
8.5.1 Industrial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Energy Utility
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Commercial
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Retail
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Government
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 BFSI
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Airports
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.5.8 Others
8.6 Global Physical Security Services Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Securitas AB
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Garda World Security Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Brinks Security Services Limited
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Agile Security Force
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Securiguard Services Ltd.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Allied Universal Security Services
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 The Brink’s Company
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Physical Security Services Market: Key Industry Highlights, 2018 and 2028
2. Global Physical Security Services Historical Market: Breakup by Services (USD Billion), 2018-2022
3. Global Physical Security Services Market Forecast: Breakup by Services (USD Billion), 2023-2028
4. Global Physical Security Services Historical Market: Breakup by End Use (USD Billion), 2018-2022
5. Global Physical Security Services Market Forecast: Breakup by End Use (USD Billion), 2023-2028
6. Global Physical Security Services Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Physical Security Services Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Physical Security Services Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Physical Security Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Physical Security Services Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Physical Security Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Physical Security Services Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Physical Security Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Physical Security Services Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Physical Security Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Physical Security Services Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Physical Security Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Physical Security Services Market Structure
Key Questions Answered in the Report
In 2022, the global physical security services market attained a value of nearly USD 337.08 billion.
The market is projected to grow at a CAGR of 6% between 2023 and 2028.
The market is being driven by the increasing threats of social insecurity, terrorism, and rising crime rates, and the growing availability of low-cost technologies such as CCTV.
The market growth is anticipated to be defined by the advent of smart technology, such as real time incident reporting and GPS tracking for managing and monitoring security workforces.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various services of physical security services are manned guarding, electronic security, and cash solution, among others.
The significant end uses of physical security services include industrial, energy utility, commercial, retail, government, BFSI, and airports, among others.
The major players in the industry are 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.
Analyst Review
The global physical security services market attained a value of about USD 337.08 billion in 2022, driven by the increasing cases of security breaches and terrorism. Aided by the growing use of advanced technology such as GPS sensors, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on service, the market can be categorised into manned guarding, electronic security, and cash solution, among others. On the basis of end use, the market can be segmented into industrial, energy utility, commercial, retail, government, BFSI, and airports, among others. The major regional markets for physical security services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above 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.
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 market insights that are accurate, actionable, and help them remain ahead of their competition.
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