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Human surveillance combined with technology will be a key factor

Rockville MD, Sept. 23, 2022 (GLOBE NEWSWIRE) — According to the latest report from market research and competitive intelligence provider Fact.MR, the global security services market is currently worth US$89.7 billion and is expected to grow at a CAGR of 4.3% between 2022 and 2032. The market is poised to grow owing to technological improvements and positive economic trends.

By investing in new technology platforms and systems, companies can improve security officer protection by providing more precise accuracy on an issue, enabling faster response time, and providing a safer environment for officers. Security technology can help detect and prevent threats, and provide the information we need to respond safely and effectively to any emerging threat.

Improved technology in the security industry can improve the service offerings of security service market players. Bundled products can be used in residential and commercial spaces. Human surveillance with technology is a great way to protect a business. Additionally, the presence of a security camera can help reduce the risk of theft and vandalism, and can also reduce the cost of insurance.

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The company’s revenue growth will be drive request for security services

The return of global businesses to normal operations has resulted in increased disposable income for security services. Start-up businesses and construction projects are growing in popularity. As the global economy continues to grow, the need for secure infrastructure increases in industrial complexes, offices, computer parks and other public facilities.

The increasing number of Tier 1 and Tier 2 cities has led to a rapid growth in the construction of residential structures. The growing urban population will have a positive impact on the demand for security services.

Increasing Companytal Tensions a godsend in disguise

Many people consider the world today to be a more dangerous place than ever. This is due to a variety of dangers, including terrorism and computer viruses, as well as fraud and organized crime. Public sector organizations continue to outsource many security services to the private sector in response to budget cuts and evolving threats. This becomes more complex as security challenges become more sophisticated.

The trend to regulate private security providers continues, helping to increase public confidence in these services. Both the general public and private and public sector customers have seen their use increase. As security concerns have increased, so has the demand for security-related products and services.

Key insights from market research

  • The global security services market is expected to grow at a CAGR of 4.3% and be valued at USD 136.6 billion by 2032.
  • The market grew at a CAGR of 4.1% from 2017 to 2021.
  • Under service type, security guard services dominate the market and were valued at US$45.6 billion in 2021.
  • North America dominates the global market with 28% market share.
  • Security services revenue is expected to grow at CAGRs of 4.2% and 4.4%, respectively, in Europe and South Asia & Oceania.

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Market development

The business environment in the security product integration services market continues to reflect acceleration within the industry despite extreme competition among major players. To gain a strong foothold in the market, major market players are employing organic and non-organic strategies.

  • For example, in 2021, Allied Universal, one of the major players in the security services market, embarked on a wave of acquisitions and acquired around ten companies, including G4S, Inc., for the sum colossal 4.3 billion US dollars.

Security companies extend their services by providing technology services such as CCTV surveillance, access control systems, and fire alarm systems. The combination of security guards at a customer’s site, along with off-site monitored cameras, can provide greater security.

Competitive landscape

Major security service companies are ADT, Inc., Allied Universal, Garda World, Securitas AB, AP Securitas Pvt. Ltd., AMAG Technology, Amentum, Blackpanda, Booz Allen Hamilton, Fujitsu, Kudelski Security, Mitie Total Security Management plc, Nihon Cyber ​​Defense, OCS Group UK Ltd, Standard Guard Services Limited, The Brink’s Company, Trend Micro, Unified Security Group, Wilson Security, Fireball Group and Prosegur.

The world’s leading security service providers are trying to gain market share through mergers and acquisitions, expansions into new geographies, and partnerships.

  • In 2021, Allied Universal, a leading security service provider, acquired 10 companies including G4S for $4.3 billion.
  • In April 2021, The Brink’s Company acquired PAI, Inc., the largest private treasury service in the United States for $213 million.

Segmenttation of the survey of the security services industry

  • By Type of Service:
    • Alarm systems
    • Background check
    • Fire and security
    • Patrol vehicles
    • Security guard services
    • Security consulting services
  • By end-use industry:
    • Aviation
    • Defense & Aeronautics
    • Distribution & Logistics
    • Education
    • Financial institution
    • Government institution
    • Health care
    • Hotel & Hospitality
    • Industrial and manufacturing
    • Immovable
    • Public transport and public transport
    • Utility industry
  • By region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • AEM

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More valuable information about the offer

Fact.MR, in its new offering, presents an unbiased analysis of the global security services market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals essential insights on the basis of service type (alarm systems, background check, fire and security, patrol vehicles, security guard services, security consulting services) and industry. end-use (aviation, defense and aerospace, distribution and logistics, education, financial institution, government institution, healthcare, hospitality and hospitality, industry and manufacturing, real estate, transit and public transport, utility industry), in major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East and Africa).

Check out other related studies published by Fact.MR Research:

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