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Classified in: Environment, Science and technology, Covid-19 virus
Subject: MRR

Private security services market size is set to grow by USD 56.33 billion from 2021 to 2026: Rapid urbanization to boost the market - Technavio

NEW YORK, March 23, 2023 /PRNewswire/ -- The global private security services market size is estimated to grow by USD 56.33 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 4.81% during the forecast period. Moreover, the growth momentum will accelerate. Rapid urbanization is driving market growth. Many people moved to urban areas in the last few decades, especially in emerging economies, for better employment opportunities. This, in turn, has increased the number of construction of residential and commercial complexes in urban areas, which require private security services. The popularity of virtual security systems is a key trend in the market. Some of the common applications of virtual security systems include retail security, construction security, residential complex security, parking lot security, hotel security, and government institution security. Virtual security systems are a cost-effective tool. With the increasing labor wages, virtual security systems will become prominent. Hence, Technavio expects virtual security systems to be a key trend. For more insights on the market - Request a sample report

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Private security services market - Segmentation assessment
Segment overview

Technavio has segmented the market based on end-user (industrial, residential, financial institutions, and others) and service (manned guarding, electronic security services, and cash services). 

Geography overview

Based on geography, the global private security services market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global private security services market.

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Private security services market ? Major challenges hindering the market growth

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The manned security services market size is expected to increase by USD 53.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.31%. Furthermore, this report extensively covers market segmentation by application (commercial buildings, industrial buildings, and residential buildings) and geography (APAC, North America, Europe, MEA, and South America).

The security services market size is expected to increase by USD 36.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.41%. Furthermore, this report extensively covers the security services market segmentation by component (SaaS security services, managed security services, security consulting services, and threat intelligence security services) and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

Private Security Services Market Scope

Report Coverage


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 4.81%

Market growth 2022-2026

USD 56.33 billion

Market structure


YoY growth 2022-2023 (%)


Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 31%

Key countries

US, China, India, Germany, and UK

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

ADT INC., Allied Universal, AMZ Sicherheitsdienste GmbH, GardaWorld Security Corp., Hanwei International Security Services Co.Ltd., ICTS International NV, ISS AS, Kingdom Protection Services Pvt. Ltd, Loomis AB, Mitie Group Plc., Monitronics International Inc., OCS Group Ltd., Peregrine Guarding Pvt Ltd., Prosegur Compania de Seguridad SA, Provisor Security Services, SECOM Plc, Securitas AB, SIS Ltd., Corps of Commissionaires Management Ltd., and Top IPS Group

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio Industrials Market reports

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Market Segmentation by Service

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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