World Security Services

Bharatbook.com announces a new report on “World Security Services” Worldwide demand for private contract security services will increase 6.6 percent per annum to $331 billion in 2018.

Dec 3, 2014: Bharat Book Bureau presents the new report, on “World Security Services” The security service market will also be supported by an improved economic environment and building construction activity, notably in developed nations, some of which saw slowdowns late in the 2008-2013 period.

World demand to rise 6.6% annually through 2018

Worldwide demand for private contract security services will increase 6.6 percent per annum to $331 billion in 2018. In general, demand for security services is driven by rising urbanization, the real and perceived risks of crime and terrorism, belief that public safety measures are insufficient, and growth of a middle class with assets to protect and the means to pay for supplementary security measures. The security service market will also be supported by an improved economic environment and building construction activity, notably in developed nations, some of which saw slowdowns late in the 2008-2013 period.

Fastest growth to occur in underdeveloped markets

The fastest gains will be posted in parts of Asia, Eastern Europe, Africa, and the Middle East, where security markets are relatively underdeveloped. Several national markets, including China, India, and South Africa, are expected to achieve double-digit annual growth through 2018. In many of these areas, the intensity of security service use (measured against indicators such as GDP and urban population) is relatively low, indicating significant growth potential going forward.

US to remain largest market

The US will remain the largest national consumer of private contract security services, accounting for 27 percent of total world demand in 2018. Despite its maturity, the dominant size of the US market means that it will account for more than one-fifth of total global...