|Last Quarterly Update:||1/23/2017|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry provide guard and control services. Top companies include US-based AlliedBarton and Dunbar Guard Services, a subsidiary of Dunbar Armored, as well as G4S and Reliance Security Group (both of the UK), Prosegur (Spain), Secom (Japan), and Securitas (Sweden).
The global security services industry, which includes security guard services, is forecast to grow about 7% per year to reach a value of nearly $267 billion by 2018, according to the Freedonia Group. Global growth in demand for security services is spurred by growing urbanization in developing markets, real and perceived threats of crime and terrorism, and rising middle classes that can afford supplemental security services.
The US security guard services industry includes about 10,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $23 billion.
Demand is driven by the need for the government, corporations, and other entities to protect their facilities, employees, data, and other assets. The profitability of individual companies depends on operational efficiency. Large companies enjoy economies of scale in marketing and administration; small companies can compete by specializing in serving particular types of clients or geographic areas. The US industry is concentrated: the 50 largest companies generate about 60% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include patrol services on foot or in a vehicle, building alarm monitoring, and building access control services. Customers include education, finance, and government institutions, as ...
Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?Learn More About Subscription Options