LONDON--(BUSINESS WIRE)--The global private security services market size is poised to grow by USD 58.77 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 5% during the forecast period.
Read the 157-page research report with TOC on "Private Security Services Market Analysis Report by service (manned guarding, electronic security services, and cash services), end-user (industrial, residential, financial institutions, and others), and geography (APAC, North America, Europe, South America, and MEA) 2019-2023 at:
The market is driven by concerns about terrorism and crime. Also, rapid urbanization is anticipated to further boost the growth of the market during the forecast period.
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Concerns about terrorism and crime are leading to an increase in the adoption of private security services by businesses and residential complexes. The population explosion in modern cities has exposed these cities to the threat of crime and terrorism. Hence, businesses, as well as commercial and residential complexes, are employing integrated security solutions, which involve manned guarding with advanced electronic security systems, to improve the safety of their premises. Thus, the growing concern about crime and terrorism will drive the private security services market growth during the forecast period.
Rapid urbanization is another major factor that will drive the growth of the private security services market during the forecast period. The proportion of the global urban population is increasing at a significant rate across the world. Rapid urbanization will increase the standard of living of people and improve the economic opportunities for the establishment of businesses in urban areas. As a result, the number of criminal activities is also increasing, which increases the need for private security services that ensure the safe functioning of urban localities.
Private security services are crucial to ensure the safe functioning of urban localities.
To find out more about Private security services Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR32100
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Allied Universal
- G4S Plc
- GardaWorld Corp.
- ISS AS
- Loomis AB
- Prosegur Compañía de Seguridad SA
- SECOM Plc
- Securitas AB
- Security and Intelligence Services (India) Ltd.
- The Brink's Co.
Market Segmentation by Service:
The Private Security Services Market can be broadly categorized into the following service segment:
- Manned guarding
- Electronic security services
- Cash services
Key Regions for the Private Security Services Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Industrials are:
Explosive Detection Equipment Market – Global Explosive Detection Equipment Market by application (hand-held detectors, ground-mounted screeners, and ground-mounted screeners) and geography (APAC, Europe, the Middle East and Africa, and North America).
Residential and Commercial Security Market – Global Residential and Commercial Security Market by product (surveillance systems, access control systems, and software), and by end-user (commercial and residential), and geography (APAC, EMEA, and the Americas).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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