|Base Year Market Size
|USD 195.78 Billion
|Forecast Year Market Size
|USD 273.39 Billion
|Fastest Growing Market
The global manned guarding services market was valued at USD 195.78 billion in 2022. It is estimated to reach USD 273.39 billion by 2031, growing at a CAGR of 3.78% during the forecast period (2023–2031). The global manned guarding services market is driven by the increasing rate of crimes like terrorism, robbery, theft, etc., worldwide, which threatens global security. Moreover, the manned guarding services are customized and tailored according to the specific industry requirements, which is anticipated to augment the global market expansion.
Manned guarding services encompass the provision of trained and licensed security people who are deployed to safeguard a site, property, or event against unlawful access, theft, damage, or harm. The guards are physically stationed at the specified site, serving as a visual deterrent to prospective attacks and ensuring a prompt reaction to security issues.
Manned guarding services are frequently utilized in diverse sectors, including residential complexes, commercial buildings, industrial facilities, retail establishments, and events. Manned guarding services include static guarding, mobility patrolling, event security, close protection, and alarm response. The inclusion of adequately trained security personnel within a given area can significantly bolster its overall security stance, thereby positively impacting the welfare and protection of individuals and property.
Global Security Concerns
The increasing crime rate and global security concerns drive the growth of the manned guarding services market. Based on the Global Peace Index 2021, the globe experienced a decrease in peace for the ninth time in the past 13 years, with 87 nations showing a decline and 73 countries showing improvement. As per the report, the economic consequences of violence rose by 0.2% to USD 14.96 trillion in 2020, comparable to 11.6% of the world GDP.
The rising occurrences of terrorism, civil unrest, theft, robbery, assault, and cyberattacks have generated a significant need for manned guarding services to guarantee the safeguarding of individuals and assets. Engaging manned guarding services may effectively thwart and discourage criminal actions while promptly offering aid and reinforcement in the event of a security breach or emergency.
Growing Demand for Specialized and Personalized Security
The increasing demand for specialized and personalized security solutions to meet various industries' specific requirements and uses increases the demand for manned guarding services in these sectors. Manned guarding services provide various services tailored to meet clients' individual needs and demands, including static guarding, mobility patrolling, event security, close protection, and alarm response.
Manned guarding services can offer security people with expertise and training in fire safety, first aid, crowd control, conflict resolution, and customer service. Manned guarding services can seamlessly incorporate various security systems and technologies, including CCTV, access control, alarm systems, and biometric identification. This integration optimizes the security operations' overall performance and efficacy. These factors are anticipated to foster global market expansion.
High Labor Cost
A significant obstacle to expanding the manned guarding services market is the high labor expenses and the frequent turnover of security personnel. Manned guarding services necessitate a substantial number of skilled and trained security professionals capable of executing diverse duties, including patrolling, guarding, escorting, and promptly addressing alarms.
Recruiting, training, and keeping security people is a difficult and expensive task, particularly in developing and emerging markets. Security professionals encounter numerous hazards and difficulties, including physical and psychological strain, extended shifts, inadequate pay, and limited prospects for career progression. These factors contribute to a high rate of employee turnover and diminished morale among security workers. This is anticipated to hamper the global market expansion.
Integration of Smart Technologies
The growing utilization of smart and digital technologies to augment security capabilities and services generates market expansion opportunities. The utilization of technologies like artificial intelligence, machine learning, big data, cloud computing, the Internet of Things, and blockchain can enhance security operations and outcomes for manned guarding services. For instance, manned guarding services can employ artificial intelligence (AI) and machine learning (ML) to evaluate the data obtained from CCTV and other sensors. This analysis enables detection and prevention of irregularities, threats, and incidents.
Additionally, manned guarding services can utilize Cloud computing and IoT to facilitate remote surveillance and management of security systems and people. Manned guarding services can employ blockchain technology to guarantee the transparency, security, and accountability of security transactions and data. Thus, the key players are also integrating digital solutions in their services to enhance the security systems. For instance, in November 2022, Marko Sukilovic, CPP, a specialist in Integrated Security Solutions at G4S Academy, developed the concept of the Digital Guard to meet the increasing market demand for incorporating AI capabilities into existing products that integrate human resources and technology.
Based on region, the global manned guarding services market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America is the most significant global manned guarding services market shareholder and is expected to expand substantially over the forecast period. North America dominates the manned guarding services industry, making it the largest and most established market. The market in this region is propelled by the substantial need for security services across diverse industries, including government, defense, business, and entertainment. Technological breakthroughs and innovations in the security business, including the use of smart and digital technologies such as AI, ML, cloud, IoT, and blockchain, impact the market in this region. These technologies are utilized to improve security capabilities and services. Moreover, the regional market is governed by strict regulations and standards about the security of people and operations. These include the Private Security Officer Employment Authorization Act, the Security Industry Authority, and the American Society for Industrial Security.
Furthermore, prominent security service providers, including Securitas, G4S, Allied Universal, and GardaWorld, are bolstering the regional market, offering extensive manned guarding services and solutions. These security providers are involved in various strategic initiatives to enhance their shares. For instance, in June 2019, Allied Universal, a well-known security and facilities services company in North America, declared the purchase of Cypress Private Security, LP - a San Francisco-based company providing extensive security services. Cypress Private Security, established in 1996, offers comprehensive security services, including armed and unarmed uniformed officers, loss prevention programs, mobile patrols, and emergency security advice. The company boasts over 1,300 personnel and generates revenues above USD 40 million. Thus, the factors above are estimated to boost the growth of the global market.
Europe is the second-largest market for manned guarding services. Key factors driving regional market growth are the increasing terror attacks, the growing need for specialized and customized security solutions, and the rising awareness of the need to outsource manned security services to competent vendors. The Russia-Ukraine War, which intensified during the last few years, further enhanced the demand for security solutions in this region. Moreover, the market in this region is also regulated by stringent laws and standards for security personnel and operations, such as the Private Security Officer Employment Authorization Act, the Security Industry Authority, and the European Committee for Standardization.
Additionally, there has been a surge in collaborations amongst key regional players. For instance, in September 2021, Amberstone Security, a leading provider of intelligence-driven manned guarding, security technology solutions, and loss prevention services in Europe, announced a security services agreement with Tesco, a major grocery chain. Amberstone Security will offer security solutions to more than 330 Tesco stores in Northern Ireland, Scotland, and Northern England, ensuring the safety of customers and staff during their shopping and work activities. Such factors boost market expansion.
The Middle East is a rapidly expanding and very active market for manned guarding services. The market in this region is propelled by quick urbanization, industrialization, and economic advancement, resulting in a substantial need for security services across many sectors, including commercial, industrial, residential, and public. Similarly, the growing security concerns and awareness and rising disposable income and expenditure on security services, particularly in emerging nations like Saudi Arabia, UAE, Qatar, and Kuwait, foster market expansion. The security business in this region benefits from the positive impact of government policies and programs, including the Smart Cities Mission, the Belt and Road Initiative, and the GCC Vision 2030, which generate chances for market growth.
Moreover, local and regional security service providers, like SIS, Prosegur, Tops Security, and Secom, further enhance the market expansion by offering competitive and cost-effective manned guarding services and solutions. The market players are tapping into strategic initiatives like joint ventures, mergers and acquisitions, and expansions to strengthen their foothold in this region. For instance, in September 2022, Aldar Properties strengthened its property and integrated facilities management platform by fully acquiring Spark Security Services, a UAE-based provider of manned guarding security services. Such initiatives are anticipated to expedite the market expansion.
|ICTS Gurkha Security Services Prosegur Guardian Protection Services Corps Security Pro-Guard Security G4S Brinks Lianming Security Service GMS Security Services Ibwest Longdun Shijiazhuang Security Service Plus Security
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Based on type, the global manned guarding services market is divided into daily escort, VIP escort, and others.
A VIP escort is a professional companion who offers services to clients deemed "very important persons" (VIPs). Their services encompass escorting clients to events, parties, or social gatherings and offering companionship on diverse occasions. It is crucial to acknowledge that the nature of the services offered might differ, and not all VIP escort services entail explicit or intimate activities. In addition, VIP escorts are occasionally retained to accompany customers to business functions or social gatherings where they require a companion. The emphasis lies on delivering a delightful and captivating experience rather than only offering personal services. The arrangement is usually reached through a mutual agreement based on predetermined parameters between the escort and the client.
Based on application, the global manned guarding services market is segmented into corporate security, residential security, commercial security, retail security, and the public sector.
The rising awareness and need for security services in the residential sector are propelling the expansion of this market. The residential sector encompasses numerous housing types, including flats, villas, gated communities, and individual houses. Residents need security services to protect their lives and property from threats like violence, vandalism, encroachment, and burglary. Manned guarding services offer residents security and reassurance by preventing unwanted entry, overseeing guests, and promptly addressing emergencies. Manned guarding services contribute to maintaining order and discipline in residential premises by enforcing rules and regulations, resolving disputes, and assisting residents in various situations.