The Global Security Services was valued at USD 240.18 Billion in the year 2020. Rapid urbanization is one of the key factors driving the demand of security services in the market. For instance, the strongest demand growth for suppliers of security system like alarm monitoring, fire safety, and building automation systems in the coming years will be driven by the rising standards of living in emerging market countries. Hence, an expanding middle class in urban areas with assets to protect and increased construction activity, particularly in the emerging economies, will boost the demand for security services. China and India are expected to be the fastest growing national markets for security services in the coming decade, while the US and Europe still make up a large proportion of the global security services market.
The global market of security services market has become increasingly technology driven over the past decade. Advances in technology especially electronics, computer hardware and software and sensors have completely changed the scenario of security services from physical to electronic security system. Moreover, with the advent of smart security devices and growing internet penetration, large number of consumers are now switching to smart security devices like smart locks, smart alarms, smart sensors etc. to get real time monitoring of the house and office premises. Devices and equipment inside premises can be directly paired with phones which then act as a remote control for easy set-up and one button alarm activation and also receiving notifications in the emergency situations. Thus, increasing usage of smartphones among the millennial is anticipated to drive the market in coming years.
Meanwhile, governments are also increasing spending capacity over public spaces and facilities, as a crime prevention measure and this will help surge the demand for security cameras. Increasing number of security breaches is also driving the Government for investment in video surveillance system. As governments and companies invest more in security networks, more surveillance cameras will be installed across the world in 2021. Security cameras used for surveillance would climb above 1 billion by the end of 2021 and this will represent a major increase from the 770 million security cameras installed today.
Scope of the Report
- The report presents the analysis of Cement market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Security Services Market by value (USD Billion).
- The report analyses the Security Services Market by Services Type (Manned Guarding, Alarm Monitoring, Cash Logistics, Other Security Services).
- The report analyses the Security Services Market by End User (Residential, Commercial and Government).
- The Global Security Services Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA).
- The Global Security Services Market has been analysed By Country (United States, Canada, Germany, United Kingdom, France, China, India, Japan, Brazil, Israel).
- The key insights of the report have been presented through the frameworks of SWOT Analysis. Also, the attractiveness of the market has been presented by region, by Services Type and by End User.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies and new product development. The companies analysed in the report include G4S, Prosegur, Brink, Securitas AB, ADT Corporation, Secom Co. Ltd, Securities and Intelligence Services, Johnson Controls, Seimens, Loomis
Key Target Audience
- Security Services Companies
- Cash Logistics Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities