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US Private Security Services Market

  • May 2015
  • -
  • Freedonia
  • -
  • 412 pages

US demand to rise nearly 5% annually through 2019
Demand for US private security services is projected to expand nearly five percent per year through 2019 to approximately $68 billion. Gains will be supported by accelerating economic activity, particu¬larly as new businesses form and existing companies continue to loosen their corpo¬rate budgets. Revenues will benefit from a strong rebound in new nonresidential construction and a continuing recovery in residential construction activity, as well as major improvement and renovation projects, as most major changes to security service spending occur during these times. Demand will also be aided by ongoing real and perceived concerns about crime. The usage of contracted security is supported by the regulatory burden of fielding an in-house security force as well as the fact that security, while important, is not a core competency for most businesses.

Alarm monitoring to gain market share
Technological innovations in the security industry complement and compete with various types of security services. For instance, heightened interest in digital video surveillance and related analytics, coupled with plans to integrate alarms into smart home and facility management functions, drives demand for services such as systems integration, security consulting, and alarm monitoring. Alarm monitoring will account for nearly one-third of security service spending in 2019, benefiting from an expected re-bound in new construction, particularly in the large nonresidential market, as well as the addition of more advanced services such as voice response and video moni-toring. In addition, rapid growth in the smaller personal emergency response system (PERS) segment will be spurred by the aging population and interest in aging in place, as well as the develop¬ment of mobile monitoring and other service options that are fueling monthly contract rates.

Guarding services to remain largest segment
Guarding services accounted for the largest share of revenues in 2014 and will continue to do so through 2019. Even in an increasingly technological environ¬ment, conventional manned services are still necessary to monitor the equipment and provide a deterrent effect and an immediate response to an event. Gains will be supported by increasing use of highly trained guards who can work with more advanced security systems, as well as growing usage of private guards in locations such as government buildings and schools, hospitals, and other institu¬tional facilities that have historically been more likely to utilize in-house guards.

Systems integration, security consulting to pace key nonresidential market
The nonresidential market accounts for the vast majority of private security services revenues, with growth in the economy, new business creation, and loosening budgets all contributing to gains. Within the nonresidential market, guarding accounts for nearly half of all private security service spending; how-ever, less mature services such as systems integration and security consulting will register more rapid gains through 2019. In contrast to the nonresidential market, residential demand is dominated by alarm monitoring, particularly intrusion and fire alarm monitoring; however, demand for PERS alarm monitoring -- a niche seg-ment -- is expected to double during the 2014-2019 period.

Study coverage
Private Security Services is an upcoming industry study that presents historical demand data (2004, 2009, 2014) plus forecasts (2019, 2024) by type, market, and US region. The study also assesses market environ¬ment factors, examines industry structure, evaluates company market share and pro-files 35 US industry players such as ADT, AlliedBarton Security Services, Brink’s, CCA, CEO Group, G4S, Securitas and Tyco International.

Table Of Contents

US Private Security Services Market
TABLE OF CONTENTS
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Demographic and Social Environment 6
Demographic Trends 6
Employment Outlook 10
Macroeconomic Environment 12
Consumer Spending Trends 18
Building Construction Outlook 21
Business Establishment Trends 24
Manufacturing Outlook 27
Retail Sales Outlook 32
Service Sector Outlook 35
Public Safety Environment 39
Crime 43
Violent Crimes 45
Property Crimes 47
Terrorism and Other Nonconventional Crimes 50
Terrorism 51
Other Nonconventional Crimes 53
Adult Inmate Trends 55
Fire 59
Technological Environment 63
Regulatory Environment 68
Security Guards 68
Alarm Monitoring 70
Private Investigators 72
Correctional Facility Management 73
Armored Transport 74
Pre-Employment Screening 74
Others 75
World Market 75
III. SERVICES 78
General 78
Guarding 81
Market Trends 86
Pre-Employment Screening 86
Training 87
Wages and Benefits 89
Applications 92
Vendors and Market Share 94
Alarm Monitoring Services 96
Residential Intrusion and Fire 101
Market Trends 104
Market Threats 106
Nonresidential 109
Personal Emergency Response System 112
Vendors and Market Share 116
Competition 117
Leading Vendors 118
Private Investigation Services 119
Market Trends 121
Vendors 124
Correctional Facility Management 125
Market Trends 129
Market Threats 131
Vendors and Market Share 134
Systems Integration and Management 138
Services and Technologies 141
Vendors 143
Armored Transport Services 144
Traditional Armored Transport 145
ATM Servicing and Other 148
ATMs 149
Other Services 150
Vendors and Market Share 151
Security Consulting 153
Services 155
Vendors 157
Pre-Employment Screening 158
Market Trends 162
Vendors 165
Other Security Services 167
IV. MARKETS 171
General 171
Nonresidential 174
Commercial 177
Commercial Offices and Office Buildings 180
Financial Institutions 185
Retail 188
Other Commercial 191
Government 194
Industrial 197
Manufacturing Facilities 199
Warehouses 202
Institutional 203
Healthcare Facilities 207
Schools 210
Other Institutional Markets 214
Other Nonresidential Markets 215
Public Venues 216
All Other 218
Residential 220
Alarm Monitoring 222
Guarding and Other Services 225
V. REGIONAL MARKETS 227
General 227
Regional Demographic and Economic Trends 227
Population Patterns 228
Economic Outlook 231
Construction Activity 233
Public Safety Trends 236
Regional Crime Rates 237
Local Crime Trends 239
Fire Trends 242
Regional Private Security Service Overview 243
Northeast 247
Market Outlook 249
New England 251
Middle Atlantic 252
Midwest 254
Market Outlook 255
East North Central 257
West North Central 259
South 260
Market Outlook 262
South Atlantic 263
East South Central 265
West South Central 267
West 269
Market Outlook 270
Mountain 272
Pacific 274
Major Metropolitan Areas 276
Correctional Facility Management 281
VI. INDUSTRY STRUCTURE 284
General 284
Industry Composition 284
Guarding Firms 289
Alarm Monitoring Firms 290
Private Investigation Firms 291
Correctional Facility Management Firms 291
Armored Transport Firms 292
Security Systems Integration Firms 292
Security Consulting Firms 292
Pre-Employment Screening Firms 293
Market Share 294
Competitive Strategies 298
Marketing 300
Nonresidential 300
Residential 302
Mergers and Acquisitions 304
Cooperative Agreements 314
Company Profiles 318
ABM Industries Incorporated 319
Accuity Holdings, see RELX Group
ADT Corporation 321
Akal Security Incorporated 323
AlliedBarton Security Services LLC 325
Altegrity Incorporated 327
APX Group Holdings Incorporated 330
Armstrong Group 332
Automatic Data Processing Incorporated 333
BI, see GEO Group
Brink's Company 334
Centerra Group LLC 336
Coastal International Security, see Akal Security
Correctional Alternatives, see Corrections Corporation
of America
Corrections Corporation of America 338
Day and Zimmermann Group Incorporated 342
Diebold Incorporated 343
Diversco Integrated Services, see ABM Industries
Doyon-Akal JV, see Akal Security
Dunbar Companies 345
Garda World Security Corporation 348
GEO Group Incorporated 349
G4S plc 354
Gregg Protection Services, see Centerra Group
Guardian Protection Services, see Armstrong Group
Guardsmark LLC 358
HireRight, see Altegrity
Honeywell International Incorporated 360
Inter-Con Security Systems Incorporated 362
Johnson Controls Incorporated 363
Kroll, see Altegrity
Loomis AB 365
Management and Training Corporation 367
Monitronics International Incorporated 368
Pacific Security Integrations, see Protection One
Paragon Systems, see Securitas
Philips Lifeline, see Royal Philips Electronics
Pinkerton Consulting and Investigations, see Securitas
Protection One Incorporated 370
Red Hawk Fire and Security US 373
Reed Elsevier Group, see RELX Group
RELX Group plc 374
Royal Philips NV 377
Securitas AB 379
Security Networks, see Monitronics International
Siemens AG 383
SimplexGrinnell, see Tyco International
Slomin's Incorporated 384
Software House, see Tyco International
Sonitrol, see Stanley Black and Decker
Stanley Black and Decker Incorporated 386
TransCor America, see Corrections Corporation
of America
Tyco International plc 388
Universal Services of America LP 392
US Security Associates Incorporated 396
Vector Security Incorporated 398
VIA MAT Holding, see Loomis
Vintage Security, see Protection One
Visonic, see Tyco International
Westfire, see Tyco International
WorldCompliance, see RELX Group
Other Companies Mentioned In This Study 400

LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Population and Households 10
2 Employment Outlook 12
3 Macroeconomic Indicators 18
4 Personal Consumption Expenditures 21
5 Building Construction Expenditures 23
6 Business Establishments 27
7 Manufacturers' Shipments 31
8 Retail Sales 35
9 Service Income 38
10 Public Safety Sector Employment, 2004-2013 42
11 Violent Crime Levels, 2004-2013 47
12 Property Crime Levels, 2004-2013 50
13 Incidences of Terrorism in the US, 2004-2013 53
14 Selected Other Nonconventional Crimes, 2004-2013 54
15 Adult Inmate Population 59
16 Fire Levels and Losses, 2004-2013 63
SECTION III -- SERVICES
1 Private Security Service Revenues 80
2 Security Guard Revenues 85
3 Alarm Monitoring Service Revenues 100
4 Residential Intrusion and Fire Alarm Monitoring Market 104
5 Nonresidential Alarm Monitoring Market 112
6 Personal Emergency Response System Monitoring Market 116
7 Private Investigation Revenues 121
8 Correctional Facility Management Revenues 129
9 Selected Correctional Facility Management
Contract Agreements 136
10 Systems Integration and Management Service Revenues 141
11 Armored Transport Service Revenues 145
12 Security Consulting Revenues 155
13 Pre-Employment Screening Service Revenues 162
14 Other Security Service Revenues 170
SECTION IV -- MARKETS
1 Private Security Service Revenues by Market 173
2 Nonresidential Security Service Revenues by Market 176
3 Commercial Security Service Revenues by Service and Sector 180
4 Commercial Offices and Office Buildings Security
Service Revenues 184
5 Financial Institutions Security Service Revenues 187
6 Retail Security Service Revenues 190
7 Other Commercial Security Service Revenues 193
8 Government Security Service Revenues 197
9 Industrial Security Service Revenues by Service and Market 199
10 Institutional Security Service Revenues by Service and Market 207
11 Higher Education Campus Crime Levels, 2004-2013 213
12 Other Nonresidential Security Service Revenues by Service
and Market 216
13 Residential Security Service Revenues 222
SECTION V -- REGIONAL MARKETS
1 Population by Region 230
2 Gross Domestic Product by Region 233
3 Construction Expenditures by Region 236
4 Crimes Rates by Region, 2004-2013 238
5 Reported Crimes and Crime Rates by Type of Area, 2004-2013 241
6 Regional Fire Overview, 2014 243
7 Private Security Service Market by Region 246
8 Northeast Security Market Profile, 2014 248
9 Northeast Security Service Revenues by Subregion 250
10 Midwest Security Service Market Profile, 2014 255
11 Midwest Security Service Revenues by Subregion 257
12 South Security Service Market Profile, 2014 261
13 South Security Service Revenues by Subregion 263
14 West Security Service Market Profile, 2014 270
15 West Security Service Revenues by Subregion 271
16 Private Security Service Market Profile by Selected Major
Metropolitan Areas, 2014 279
17 Private Security Service Revenues by Selected Major
Metropolitan Areas 280
SECTION VI -- INDUSTRY STRUCTURE
1 Private Security Service Revenues by Company, 2014 288
2 Selected Acquisitions and Divestitures 309
3 Selected Cooperative Agreements 317

LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
1 Safety Sector Employment, 2014 43
2 US Crime Rates, 2004-2013 45
3 World Security Service Market, 2014 77
SECTION III -- SERVICES
1 Security Service Revenues by Types of Service, 2014 81
2 Security Guard Market Share, 2014 96
3 Alarm Monitoring Revenues by Market, 2014 100
4 Alarm Monitoring Market Share, 2014 119
5 Correctional Facility Management Market Share, 2014 135
6 Armored Transport Service Market Share, 2014 152
SECTION IV -- MARKETS
1 Private Security Service Revenues by Market, 2004-2024 173
2 Nonresidential Security Service Revenues by Market, 2014 177
SECTION V -- REGIONAL MARKETS
1 Crime Rates by Region, 2004-2013 239
2 Private Security Service Market by Region, 2014 247
3 Percent of State and Federal Inmates Held Under Private
Correctional Facility Management Contracts
by Subregion, 2014 283
SECTION VI -- INDUSTRY STRUCTURE
1 Private Security Service Market Share, 2014 295

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