Enjoy complimentary customisation on priority with our Enterprise License!
The India - security services market size is forecast to increase by USD 886.87 million, at a CAGR of 5.55% between 2023 and 2028.
The several factors play a crucial role in the market's growth, such as the insufficient police force to protect huge Indian population, the rising urbanization in India, and the increasing demand for efficient security solutions. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in (USD million) for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the regional market growth is the insufficient police force to protect huge Indian population. India is at a stage where the crime rate is rising, with an increasing feeling of being unsafe among the citizens of the country. In addition, the low police-to-people ratio results in troublemakers spoiling the peaceful environment of the country, thinking that they can easily abscond from the situation.
Moreover, there are numerous issues handled by the police in the country, and because of this, the workload of the police force increases. In addition, they are required to steadily respond to cases with fewer resources at their disposal. Furthermore, the presence of safety services personnel around an infrastructure decreases the propensity of people getting harmed and minimizes criminal activities. Hence, such factors are driving the regional market growth during the forecast period.
A key factor shaping the market growth is the integrated facility management services for buildings. Integrated facility management services offer all the major support services for a building under a single umbrella. In addition, this comprises a single service provider hired for services like cleaning, waste management, helpdesk, HVAC maintenance, and others, along with protection services.
Moreover, in India, integrated facility management is becoming a major trend that end-users are adopting. In addition, when the end-users adopt integrated facility management services from a single market player, they do not have to look for many companies for service delivery. Therefore, the end-users can concentrate on their core activities without spending separately on each service. Hence, such factors are driving the regional market growth during the forecast period.
The rise of electronic security and surveillance is one of the key challenges hindering regional market growth. The safety technology for buildings has been developing over time and as a result, electronic safety equipment developed for protecting infrastructure is also getting renewed every now and then. In addition, pieces of electronic equipment that enable surveillance of every part of a building have arrived in the Indian market.
Moreover, innovation in technology has made these devices affordable for the end-users. In addition, when an infrastructure decides to adopt electronic measures inside the building, it is a one-time investment to ensure the safety of the building. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the regional market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allied Universal: The company offers security services in India such as safety personnel and patrol services with technology specialists and local management teams.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The SaaS security services segment is estimated to witness significant growth during the forecast period. SaaS security solutions are typically scalable, enabling organizations to adjust their security measures based on their evolving requirements. In addition, whether a company is a small startup or a large enterprise, services can be applied based on the scale of operations. Furthermore, services often operate on a subscription-based model, eliminating the need for significant upfront investments in hardware and software.
Get a glance at the market contribution of various segments Download the PDF Sample
The SaaS security services segment was the largest segment and was valued at USD 955.03 million in 2018. Moreover, this can result in cost savings as organizations only pay for the services they use. In addition, implementing solutions is generally quicker and more straightforward compared with traditional on-premises solutions. Furthermore, his ease of deployment allows organizations to enhance their security posture rapidly. In addition, providers are responsible for maintaining and updating the software which comprises applying security patches and updates and ensuring that the organization is protected against the latest threats without the need for manual intervention. Hence, such factors are fuelling the growth of this segment which in turn drives the regional market growth during the forecast period.
The security services market in India is a dynamic landscape shaped by various factors such as illegal events, terrorism, and fraudulent activities. The country's security sector has witnessed significant changes due to government norms and the increasing adoption of security systems. With the emergence of smart cities and the growing focus on military and defense, the demand for advanced security solutions has surged. Asia Pacific, including India, plays a crucial role in the global security market. The Indian regulating authority for securities, Securities and Exchange Board of India (SEBI), plays a pivotal role in shaping the regulatory landscape. Security system manufacturers contribute significantly to the market, providing a range of solutions including cameras, video surveillance systems, traffic monitoring, and intrusion detection systems.
The market witnesses applications in diverse sectors, including industrial intrusion prevention, commercial, government, military and defense, and transportation. System integration is a key aspect, ensuring the seamless operation of various security components. Firewall management, managed data protection, threat management, and endpoint security services are critical for safeguarding against evolving threats. Wireless connectivity is a key trend, enabling more efficient deployment of security measures. The market addresses challenges such as insider attacks, frauds, and Advanced Persistent Threats (APTs). Competitive benchmarking is essential for security service providers to stay ahead in the market.
The market report forecasts market growth by revenue and provides an analysis of the latest market growth and trends and growth opportunities from 2018 to 2028.
|
India - Security Services Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
152 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.55% |
|
Market Growth 2024-2028 |
USD 886.87 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.48 |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Allied Universal, Balram Corporate Services Pvt. Ltd., DSS Securitech Pvt. Ltd., Eagle Hunter Solutions Ltd., Fireball India, G 7 Securitas Group, Global Security Services, Perfect Protection India Pvt Ltd, Premier Shield, Saksham Security Solutions Pvt. Ltd., Sarvodaya Security Service Pvt. Ltd., Shri Balaji Security Services, SIS Ltd., Sri Renuka Shakti Security Services Pvt. Ltd, Stalwart People Services India Ltd., Sunrise Security Services, Terrier Security Solutions, Top IPS Group, VS4 Security and Services, and WWSO Group |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Market Segmentation by Application
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.