LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the manned security services market in Europe to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
The report segments the manned security services market in Europe by end-user (commercial buildings, industrial buildings, and residential buildings) and by geography (the UK, Germany, Italy, France, Spain, Poland, Slovakia, Czech Republic, and others including, Greece, Switzerland, The Netherlands, and Denmark).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the manned security services market in Europe:
- Manned security services: a highly competitive sector
- Manned security services ensure better homeland security and citizens' protection
- Increasing tourism and rise in urbanization
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Manned security services: a highly competitive sector
The proliferation in the number of security service providing companies operating in the European region is attributed to the growth of the manned security services market. These services are labor intensive and are governed by different parameters such as working hours, training of guards, and wages given to the manned guards. Because of rapid infrastructure development, the manned security services market has grown tremendously, thus propagating the rise of many private security services companies in Europe. With competition in the market reaching its peak, the vendors are delivering services at low costs and providing manned guarding at a negotiable price based on the needs of clients.
According to Sushmit Chakraborty, a lead analyst at Technavio for automation research, “The cost reduction efforts undertaken by the vendors are facilitating the formation of long-term contract agreements between the service provider and end-user. Following this approach, the security companies have to cut down cost on some of the important parameters such as security weapons provided to guards or mobile patrolling of facilities. However, the number of service contracts increases due to the reduced cost of services.”
Manned security services ensure better homeland security and citizens' protection
The insufficient availability of mobile police forces to efficiently manage all the political, economic, social, and operational issues across Europe is fueling the demand for manned security services in the region. The manned security services are cost-effective and more efficient as compared to hiring government security workforce. These services also help in safeguarding buildings in remote areas against any economic, social, and political disturbances, where police force cannot reach frequently. Manned security services are multi-layered and can be carried out in different ways. The process includes a screening of footfalls and keeping an eye on the activities happening around an infrastructure.
“Manned security services are used for protecting vulnerable construction sites and several public areas. The primary duty of these guards is to protect the property and the welfare of people, safeguard citizens from various unforeseen mishaps and activities, and respond to any undesirable activity taking place inside or outside the infrastructure,” says Sushmit.
Increasing tourism and rise in urbanization
Europe attracts a high number of tourists due to its picturesque landscape and natural terrain. The increasing tourism industry is making it highly essential to avoid entry of anti-social elements into the country. The demand for manned security personnel is on the rise to keep a check on criminals entering any part of the country. Moreover, high economic development of the region in terms of the commercial, industrial, and residential sector has aggravated the need for proper surveillance and patrolling services round the clock in Europe.
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