Trends, Drivers and Vendor Forecasts for 2021-2025
Accelerating at a CAGR of 14%, the private security services market is expected to post an incremental growth of $ 53.58 billion over the next five years. ADT Inc., Allied Universal, GardaWorld Security Corp., ISS AS, Loomis AB, Monitronics International Inc., Prosegur Compania de Seguridad SA, SECOM Plc, Securitas AB, and SIS Group are among the key market players.
The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. In addition, our report offers a deep understanding of the key market players and their product portfolios. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
Private Security Services Market: Market Segments and Key Trends
The Private security services market is segmented by End-user (industrial, residential, financial institutions, and others), Service (manned guarding, electronic security services, and cash services), and Geography (North America, Europe, APAC, South America, and MEA).
Europe led the market with 30% of the market growth set to originate from this region during the forecast period. European countries such as France and the UK have been witnessing a rise in the terror threats from various terror groups. Europe has witnessed the largest number of right-wing attacks in the last two decades. Such factors will facilitate the demand for private security services market in Europe over the forecast period. Shortage of private security personnel is one of the challenges that will need to be overcome to drive growth. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
Private Security Services Market: Top Drivers to Boost Demand
Rapid urbanization is one of the primary factors driving the growth of the private security services market. Rise in urban population has led to an increase in the construction of residential and commercial complexes in urban areas, which will necessitate the need for private security services. Emerging economies such as India, China, and Nigeria will contribute significantly to the growth of the urban population between 2020 and 2050. The growth of the urban population will also necessitate the need for advanced security measures in cities to curb criminal activities.
The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report.
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