Global Security Services Market By Type, Market and Region, 12th Edition

NEW YORK, June 1, 2017 /PRNewswire/ -- The use of equipment-related services such as alarm monitoring, systems integration, and security consulting is supported by the rapid proliferation of technologically advanced security systems.

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Global Security Services Market addresses the following questions and more:
- Which types of security services will see the fastest growth?
- How will local crime rates affect the security services market?
- Which regulations impact national demand for private security services?

Rising Perceived Risk of Crime to Drive Security Services Revenues
Global security services revenues are expected to rise 5.9 percent annually through 2020 to $240 billion. In the broadest sense, interest in security services is driven by the real and perceived risk of crime. Even as reported crime rates fall in a large number of countries, there is a widespread perception that crime is rising. In developed areas, crime rates are generally falling despite widespread media reports of various crimes that can leave citizens feeling unsafe.

However, in developing areas incomplete reporting by victims to police and by police to statistics offices result in national crime statistics that do not necessarily reflect local conditions. The level of confidence in the ability of local police to protect people and property also impacts demand for security services. For instance, in some areas, residents believe that public safety officials are either stretched too thin to provide adequate protection or are themselves involved in corruption or violence.

Key Findings in the Global Security Services Market Study:

Developing Countries to Benefit from Increasing Public Trust
In developing areas, particularly rapidly growing China and India, demand for security services will continue to be driven by rising incomes, resulting in an expanding base of end users that have resources to protect and the means to hire such protection.

Increasing industry professionalism via the creation and enforcement of better regulations will support rising public trust in private providers. Foreign investment from firms based in more developed areas will further buoy growth, as these end users typically utilize security services to a certain standard across all locations. In a number of developing countries, bodyguards and other residential security services are seen as symbols of wealth, providing both protection and social status.

Mature Markets Particularly Impacted by Adoption of Interoperable Security Systems
Security services markets in developed areas are typically more mature, and as such will see more moderate gains through 2020. The increasing proliferation of technologically advanced security systems will have a mixed effect on demand for security services in these markets. The ever increasing complexity and interoperability of these systems will fuel greater need for monitoring, systems integration, and security consulting services. However, these security systems functionally compete with basic manned security personnel.

Guarding Services Continue to Dominate
Guarding services continue to account for the majority of private security services revenues. Demand for guards is especially strong in developing countries, where hiring guards is more affordable than investing in technology-related services due to low labor costs. In addition, guards are valued for their ability to provide a visible deterrent to potential perpetrators. Expanding availability of lower cost alarms will support rising market penetration of alarm monitoring services.

Rising reliance on noncash payment methods will limit gains for armored transport services. Nonetheless, demand for these services will benefit from the expanding presence of ATMs in developing areas. The fastest gains will stem from less pervasive services such as security integration and consulting, which are often linked to the use of complex and interoperable security systems.

Study Coverage
This Freedonia industry study analyzes the $180 billion global security services market. It presents historical demand data (2005, 2010 and 2015) and forecasts (2020 and 2025) by type (guarding, alarm monitoring, armored transport) and market (commercial and industrial, government and institutional, residential). The study also evaluates company market share and competitive analysis on industry competitors including Allied Universal, G4S, Loomis, Secom, Securitas AB, and Tyco International.
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