Manned Guarding Services Market

Market Overview

The global manned guarding services market size was valued at USD 26 billion in 2023 and is projected to reach USD 37.8 billion by 2032, registering a CAGR of 4.8% during the forecast period (2024-2032). The market's growth can be ascribed to enterprises' growing emphasis on ensuring the safety and security of their employees, assets, and premises. Furthermore, due to the escalation of terrorist activities and cross-border conflicts, there has been a substantial surge in the need for expert manned guarding services.

Manned guarding is a security measure that ensures the safeguarding of premises from unauthorized access, preventing any disturbances, theft, and harm to individuals and their belongings. The concept entails the presence of an on-site guard who is readily available to respond to any security breaches and incidents promptly. Manned guards can assess and confirm a location's suitability for admission, either partially or totally. Including this supplementary level of protection is essential and beneficial to protect properties from theft and unauthorized entry. Despite the increasing dominance of technology worldwide, manned guarding will continue to maintain its significance and role for the foreseeable future. It protects locations by preventing disorder and damage, safeguards possessions from theft or unauthorized acquisition, and ensures the safety of individuals by preventing harm and assault.

Additionally, increasing global security concerns are a significant driver of the expansion of the manned guarding market. The market expansion is accelerated by rising globalization, which leads to a rise in demand for international travel and a surge in the demand for border patrol agents and airport security. The increase in urbanization, which leads to higher crime rates, drives the demand for private security services and impacts the industry. Furthermore, the enhancement of system availability, the growth in the number of connected devices, the expansion in the Internet of Things, and the establishment of more training facilities for security personnel have a favorable impact on the manned guarding industry.

Top 2 Key Highlights

• Equipment generates the highest revenue share based on type.
• Commercial buildings account for the largest market share by application.

Market Dynamics

Market Drivers

High Security in Public Places

It is imperative to prioritize and uphold security and safety measures in public areas such as airports, shopping centers, and schools, regardless of the expenses involved. The increased security measures adopted in public places have accelerated the growth of the global market for manned guarding services. Implementing these measures, such as heightened monitoring, stricter entry control, and improved crowd management, is motivated by escalating apprehensions regarding terrorism, criminal activities, and the well-being of the general population.

Consequently, there has been a significant increase in the demand for manned guarding services, as firms are actively seeking skilled security people to protect their facilities and reduce potential hazards. On August 26, 2021, Forbes India published a report asserting that Delhi was the most extensively monitored city globally. According to a report published in 2022 by Comparitech, a tech research business located in the UK, cities in India, such as Indore and Hyderabad, have a high level of surveillance compared to other cities worldwide. Surveillance using closed-circuit television (CCTV) is frequently promoted as an essential means to decrease and oversee criminal activity in urban areas. Moreover, technological progress, including the development of biometrics and AI-powered surveillance systems, is driving market expansion by improving the efficacy and efficiency of security operations. This pattern is anticipated to propel the global manned guarding services market.

Increased Terrorist Attacks 

According to the eleventh edition of the Global Terrorism Index, the incidence of terrorism is becoming more focused, with the number of nations experiencing deaths from terrorism decreasing to 41. This is significantly lower than the highest recorded number of 57 countries in 2015 and 44 countries in 2022. In 2023, the number of deaths caused by terrorism rose by 22 percent to reach 8,352 deaths, marking the highest level since 2017. However, it is essential to note that this figure is still 23 percent lower than the maximum recorded number of deaths in 2015. Deaths would have increased by five percent if we excluded the Hamas strike on October 7. Although the number of fatalities rose, there was a decrease in the number of occurrences, with a total decline of 22 percent to 3,350 attacks in 2023. Pakistan had the highest number of events among all countries, with a total of 490 attacks documented. Additionally, the rising terrorist incidents globally fuel the demand for the manned guard service industry. The rise in population growth rates and frequent airplane hijackings have resulted in a higher need for manned guarding services. Enhanced security measures have been devised to thwart sophisticated and meticulously orchestrated acts by terrorists.

Market Restraint

Erroneous Manned Guarding Service 

The high incidence of inaccurate manned guarding services presents a substantial obstacle to the worldwide market. These mistakes erode the credibility and efficacy of security measures, resulting in diminished trust in the sector. These occurrences can arise due to insufficient training, weak vetting procedures, or incompetence in monitoring and oversight. In addition, mistakes in manned guarding services can result in violations of security protocols, putting the safety of assets and staff at risk. 

Market Opportunity

Rise in Demand for International Travel 

The global market for manned guarding services is expected to experience expansion, primarily due to the increasing need for international travel. By the end of this year, international tourism is projected to rebound to about 90% of its pre-pandemic levels. Based on the most recent data from the World Tourism Organization (UNWTO), around 975 million tourists embarked on international trips from January to September 2023, marking a 38% growth compared to the corresponding months in 2022. 

Furthermore, regarding relative recovery, the Middle East remains at the forefront, with arrivals in the nine months leading up to September 2023 surpassing pre-pandemic levels by 20%. The Middle East is the only global region that has exceeded its 2019 levels during this period. The extraordinary performance is supported by visa facilitation initiatives, expanding new destinations, investments in new tourism-related projects, and hosting significant events. Europe, the most critical region for tourist visits worldwide, received 550 million international tourists during the specified time, accounting for 56% of the total global number. This corresponds to 94% of the values observed before the pandemic. The recovery was bolstered by strong regional demand and substantial demand from the United States.

As globalization persists in interconnecting economies and cultures, the imperative for security measures to protect individuals, assets, and infrastructure becomes paramount. Manned guarding services are essential for maintaining the safety and security of different businesses, such as airports, hotels, and tourist sites. The demand for manned guarding services is likely to increase further due to the rise in international travel, especially in emerging countries. These services include various actions, such as controlling access, monitoring, and evaluating threats, contributing to the overall safety system. With the growing emphasis on security in a world that is becoming more linked, the market for manned guarding services is expected to experience continuous growth. This presents chances for service providers to develop new and improved solutions to meet the changing security requirements.

Regional Analysis

The global manned guarding services market analysis is conducted across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America's manned guarding services market share is estimated to grow at a CAGR of 5.1% over the forecast period. In North America, the increasing apprehensions regarding security risks, such as terrorism and crime, prompt businesses and individuals to allocate resources towards manned guarding services to safeguard their assets and staff. Moreover, using surveillance systems and access control solutions in manned guarding services improves their efficiency and increases their efficacy, hence stimulating market expansion. In finance, healthcare, and transportation areas, strict laws and compliance requirements necessitate manned guarding services to ensure compliance with regulations and reduce risks.

Moreover, organizations' growing utilization of outsourcing tactics to concentrate on their primary areas of expertise drives the need for third-party manned guarding services. Furthermore, the increase in economic growth and urbanization directly leads to the expansion of companies and infrastructure. This, in turn, creates favorable circumstances for manned guarding service providers to meet the rising security demands in North America.

Asia-Pacific is anticipated to exhibit a CAGR of 5.6% over the forecast period. The provision of manned guarding services in the Asia Pacific region, namely in India and China, is impacted by many issues. In India, the main factors driving the demand for security services are the high crime rates, the fear of terrorism, and the need to safeguard essential assets like industrial sites and government buildings. In addition, the increasing recognition of security concerns among organizations and individuals contributes to the demand for manned guarding services. The demand for security services in China is driven by rising urbanization, economic growth, and the need to secure critical infrastructure.

Additionally, the focus on preserving social stability and averting social upheaval intensifies the demand for manned guarding services. The need for manned guarding services in India, China, and the greater Asia-Pacific area is primarily driven by economic development, urbanization, and security concerns.

Europe holds a significant market share. Recent technology advancements significantly impact the landscape of manned guarding services in Europe. An important factor is the rise of sophisticated surveillance technology, including AI-driven video analytics, drones, and biometric systems. These technologies improve the efficiency and efficacy of security operations by offering real-time monitoring, threat identification, and fast-reaction capabilities. Moreover, implementing Internet of Things (IoT) devices and sensors allows for effortless incorporation and automation of security systems, enhancing overall awareness and responsiveness.

In addition, the widespread use of cloud computing and data analytics allows security providers to utilize large amounts of data for predictive analysis and evaluation of risks, thereby enabling them to take proactive security measures. Furthermore, progress in communication technologies enables effortless connectivity and coordination among security professionals, improving collaboration and response times. The latest technological advancements generally allow European manned guarding services to adjust to changing security concerns and offer more advanced and complete security solutions.

Segmental Analysis

The global manned guarding services market is segmented based on type and application. 

Based on type, the market is divided into Service and Equipment. The equipment segment dominated the segment in 2023. This results from the increasing consciousness among clients regarding the necessity of skilled security staff to deter theft, unauthorized access, and other undesirable disruptions in their premises. 

The service segment is the fastest growing. Services offer clients security personnel and equipment for a prearranged duration. During the projection period, the equipment sector is projected to experience a higher growth rate than the services segment because of the increasing technological improvements in the security sector.

Based on application, the market is divided into Commercial Buildings, Industrial Buildings, and Residential Buildings. The commercial building segment dominated the segment in 2023. The enhanced system availability impacts the commercial segment, the growing number of linked devices, the widespread adoption of the Internet of Things, and the proliferation of training centers for security workers. The industrial buildings segment is the fastest growing. Industrial structures necessitate extensive surveillance of their vast premises and round-the-clock security measures to safeguard valuable assets. The rapid industrialization in countries within the Asia Pacific region has played a crucial role in driving the growth of the industrial buildings sector in the area.

The residential building segment is the second largest. Many residential and business complexes often find hiring external security service providers more economically advantageous than maintaining an internal protection force. This enables companies to avoid the concerns associated with recruiting, providing facilities, and other matters related to hiring a whole security team, which can be costly. Clients can avoid investing time and money in training security personnel through manned security services. They are also relieved of the responsibility to stay updated on the latest practices and technology in the security industry, as the service provider guarantees cutting-edge security features tailored to the client's needs.

Recent Developments

• April 2024 – Axis Communications, a prominent company in the field of network video, launched Axis Cloud Connect. This cutting-edge hybrid cloud platform aims to offer customers enhanced protection, increased flexibility, and improved scalability for their security needs. This platform facilitates various managed services to assist with system and device administration, video and data transfer, and address stringent cybersecurity requirements in conjunction with Axis devices.
• April 2024 – Axis Communications introduced the latest iteration of their AXIS Camera Station Video Management Software (VMS). This meticulously designed product guarantees enhanced adaptability to fulfill customer requirements. AXIS Camera Station offers a range of options to accommodate various needs, from smaller individual locations to larger and more complex setups, including installations across many sites. It provides the opportunity to install the optimal system on a private network, through cloud computing, or a combination of both.
• December 2023– SECOM Co., Ltd., a company based in Shibuya-ku, Tokyo and led by President Ichiro Ozeki, created the "SECOM DRONE XX (Double X)," a pioneering security drone in Japan that incorporates artificial intelligence (AIAI) for surveillance and intrusion detection. The anticipated date for the release is scheduled for the spring of 2024.