LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the manned security services market in India is expected to grow at a CAGR of almost 16% during the forecast period.
This research report titled ‘Manned Security Services Market in India 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all regions in India.
The growing investments in the developing infrastructure in major cities are creating job opportunities and growth in adoption of adequate public security. This will lead to the steady growth of the manned security services market in India during the forecast period. Public safety and security will be of top priority for the end-users, private companies, and government officials.
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Technavio’s analysts categorize the manned security services market in India into three major segments by end users. They are:
- Commercial buildings
- Industrial buildings
- Residential buildings
Manned security services market in India by commercial buildings
Commercial buildings cover the largest segment in terms of the use of manned security services because of various vulnerabilities associated with such buildings. In this report, manned security in commercial buildings is broadly categorized into offices, retail stores, healthcare buildings, and hospitality infrastructure.
According to Sushmit Chakraborty, a lead automation research analyst from Technavio, “Retail buildings include shopping malls, retail centers, and supermarkets and hypermarkets. In such buildings, the common public, along with the suppliers of assorted items keep frequenting the building. Also, the background checks of the employees working in such buildings are not proper.”
Manned security services market in India by industrial buildings
The industrial sector in India is growing rapidly with an increase in the number of small- and medium-sized industries. Places, where these industrial buildings are located, are important. These buildings operate in the outskirts of a city or at places where there is considerable nearness to suppliers for procuring raw materials and to end-users for selling goods.
“Operations inside such buildings are complex, and any unwanted access can result in the loss of precious raw materials, the whole manufacturing plant, or even loss of life. Industries are based in an open area, so the whole infrastructure is highly prone to any unauthorized access,” says Sushmit.
Manned security services market in India by residential buildings
Residential buildings are often classified as houses, duplex, and apartments. These buildings have parking space, meeting halls, terrace, lobbies, gymnasiums, and other public areas. These buildings comprise people, along with their assets making them vulnerable. Hence, these buildings need to be protected.
The number of residential buildings in India has increased, along with the construction of new infrastructure to provide shelter to the large population of the country. The workers involved in construction activities are mostly uneducated and are not employed based on a stringent background check.
The top vendors highlighted by Technavio’s research analysts in this report are:
- G4S
- Globe Security Services
- Premier Shield
- SIS
- TOPSGRUP
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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