The production value of private security services in the UK stood at 7.4 billion Euros in 2023. Over the past decade, the sector has experienced fluctuations, with significant growth in 2015 and notable declines in 2017 and 2020. Despite a major dip in 2020, the sector partially rebounded in 2021 but experienced marginal declines in 2022 and 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was -0.32%, highlighting a relatively stable yet declining trend.
Future trends to watch for:
• Modest decline expected with a CAGR of -0.18% from 2024 to 2028.
• Market stability with slight year-on-year decreases as forecasted values show minor reductions.
• Potential shifts due to technological advancements, regulatory changes, or new security threats impacting demand for security services.
