Private Security Services Market by End-user, Service, and Geography - Forecast and Analysis 2021-2025

The private security services market share is expected to increase by USD 53.58 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.71%.

This private security services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers private security services market segmentation 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). The private security services market report also offers information on several market vendors, including 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 among others.

What will the Private Security Services Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Private Security Services Market Size for the Forecast Period and Other Important Statistics

Private Security Services Market: Key Drivers and Challenges

Rapid urbanization is notably driving the private security services market growth, although factors such as the shortage of private security personnel may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the private security services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Private Security Services Market Driver

One of the key factors driving growth in the private security services market is rapid urbanization. The movement of people to urban areas has increased in the last few decades. The shift is more prominent in emerging economies, as most people find better employment opportunities in urban areas compared with rural areas. The growth of the urban population will increase 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. Hence, rapid urbanization will increase the demand for private security services, which will drive the growth of the global private security services market.

Key Private Security Services Market Challenge

The shortage of private security personnel will be a major challenge for the private security services market during the forecast period. The demand for private security services is increasing significantly due to the rapid growth of the urban population across the world. However, private security service providers are facing a shortage of skilled private security personnel, which affects their financial health. This is a challenge for the growth of the market as the expansion of private security services is dependent on manned guarding. Factors such as a lack of career path, the disparity in pay packages, and long working hours are leading to the shortage of private security personnel across the world. The shortage of security personnel is raising the cost of labor, which is increasing the cost of private security services for clients. Hence, the shortage of private security personnel is a challenge for vendors across the world.

This private security services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Private Security Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• ADT Inc.
• Allied Universal
• GardaWorld Security Corp.
• ISS AS
• Loomis AB
• Monitronics International Inc.
• Prosegur Compania de Seguridad SA
• SECOM Plc
• Securitas AB
• SIS Group

This statistical study of the private security services market encompasses successful business strategies deployed by the key vendors. The private security services market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The private security services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for the Private Security Services Market?

For more insights on the market share of various regions Request for a FREE sample now!

30% of the market's growth will originate from Europe during the forecast period. Germany and the UK are the key markets for private security services in Europe. Market growth in Europe will be faster than the growth of the market in other regions.

European countries such as France and the UK have been witnessing a rise in the terror threats from various terror groups recently. Europe witnessed the largest number of right-wing attacks in the last 2 decades. These factors will facilitate the private security services market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Private Security Services Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The private security services market share growth by the industrial segment will be significant during the forecast period. The industrial segment is the largest adopter of security services such as manned guarding and electronic security systems. Rising urbanization and the increasing population are creating significant demand for various products, which is leading to an increase in the number of manufacturing activities globally. The rising manufacturing output is the result of the expansion of manufacturing plants, which is creating significant demand for private security services. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the private security services market size and actionable market insights on post COVID-19 impact on each segment.

Request for a FREE sample

What are the Key Data Covered in this Private Security Services Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive private security services market growth during the next five years
• Precise estimation of the private security services market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the private security services industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of private security services market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch