Abstract
Worldwide demand to grow 7.5% per year through 2012
The global market for private contract security services is forecast to
advance by 7.5 percent per annum through 2012 to $195 billion. Gains will be
driven by a generally healthy global economy, rising urbanization, and
heightened fears of domestic crime and terrorism in many countries. An upswing
in building construction is also expected in several major economies, most
notably the US, Japan and Germany, although most other areas will see
construction growth slow after a strong 2002-2007 performance. Also limiting
gains will be competition from electronic security measures such as CCTV and
access controls, as well as by intense price competition in the guard and
armored transport segments. The maturity of most developed country security
markets will also constrain future increases in demand.
Contract guarding will remain the largest segment of the market, accounting
for more than 40 percent of total revenues. Especially favorable prospects
exist for services such as systems integration and consulting, which benefit
from the transition from manned to electronic security modalities. By
contrast, the private prison management industry has suffered a dramatic
reversal of fortunes since the late 1990s, as rising opposition to the
privatization of correctional facilities has taken it from the fastest to one
of the slowest growing security service segments. Indeed, prison management
contracts with private firms have been revoked in countries from Canada to New
Zealand, with the state resuming control.
Study coverage
It presents historical demand data plus forecasts (2012, 2017) for private
contractual security service by type and market, as well as for 20 countries
and six regions. The study also assesses market share and profiles 38 global
industry competitors.
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