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Security Services Market Research: Latest Industry Trends & Statistics

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Global Security Services Industry Analysis

The world security services market (segment of the business services industry) exceeded $174 billion in 2010, reports MarketLine. The managed security services industry refers to the electronic, managed and outsourced personnel security solutions.

According to Freedonia, managed security services demand is being fuelled by an increasing rate of urbanization, a growing middle class owning assets they wish to protect, a lack of faith in public safety measures and fear of terrorism and crime. Developed nations will record the strongest market growth, fuelled by foreign investment, economic recovery following the economic crisis, unreliability or overloading of public security services and higher personal incomes.

Countries including South Africa, China, India, Brazil and Mexico are forecast to record double-digit growth over the next few years. The US is the number-one private contract security services consumer, expected to hold close to 35% market share in 2014.

Key Managed Security Services Market Segments

The global managed security services industry is expected to reach close to $8.5 billion, reports Global Industry Analysts. Market growth is fuelled by rising hacker activity, with strong demand expected from developing countries, especially Asia-Pacific. Companies are paying increasing attention to risk management and network security due to network threats and the need to manage security. Managed security service providers are stepping in to provide services necessary to a business environment in which the internet is playing an increasing role in organization to track emails, manage network logs and regulate data.

The world managed security service providers industry is witnessing rising demand for cloud-based solutions. Obstacles to market growth include factors such as automation, professional expertise and scalability. Leading players operating in the market include Hewlett-Packard, IBM, BT Global Services and Symantec.

World private contract security services market growth will be driven by economic recovery and rising building construction spending. Contract guarding represents the leading segment.

The global homeland security market exceeded $194 billion in 2011, according to Visiongain. Market growth is expected to continue over the coming decade, fuelled by government defense spending to protect against factors such as cyber attack, piracy, natural disasters and terrorism.

Homeland Security Research forecasts the world x-ray security screening industry, covering systems sales, upgrades and service, will exceed 10% yearly growth through 2016 to reach almost $2 billion, up from $1 billion in 2010. The market’s cost-performance is challenged by a lack of competitive modality in the industry. Market expansion will be led by China, the US and India.

In the global surveillance and security equipment market, industrial/commercial represents the leading end-user segment.

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