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Global Physical Security Services Industry Report: Country Overview; Value Chain Analysis; Price Analysis; Trade Analysis; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Pricing Model; Key Supplier Analysis, 2022-2027

Physical Security Services Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Physical Security Services market reached a value of about USD 318 billion in 2021. The industry is projected to grow at a CAGR of around 6% in the forecast period of 2022-2027 to reach a value of about USD 451.14 billion by 2027.

The global Physical Security Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being driven by the growing need to increase physical security for enterprises and recognise possible threats. Soaring occurrences of terrorist activities and security violations to basic systems, expanding usage of IP-based cameras for video monitoring and increasing cyber threats to physical security systems are driving the physical security industry. In the industry report, the key demand indicator is the highest category spender by region—Europe.

Industry Definition and Segmentation

Physical security refers to safeguards in place to prevent illegal access to facilities, equipment, and resources and protect workers and property from harm (such as espionage, theft, or terrorist attacks). Multiple layers of interdependent systems, such as CCTV monitoring, security guards, protective barriers, locks, access control, perimeter incursion detection, deterrent systems, fire protection, and other systems, are meant to safeguard people and property and provide physical security. Personnel, hardware, software, networks, and data are all protected from physical actions and events that might result in substantial loss or harm to an organisation, agency, or institution. This covers fire, flood, natural calamities, burglary, theft, vandalism, and terrorism. The Physical Security Services industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The European Region is Driving the Growth of the Industry

The European region holds the largest share of the market owing to the technological developments paired with a trend away from human security services. However, contract sizes in these locations are relatively limited, and the market is severely fragmented.

The market is being driven by rising concerns over the safety and security of assets people and growing crime rates and terrorist activities. These increasing attacks have resulted in the deaths of numerous people and significant infrastructure damage, emphasising the necessity for physical security measures. Furthermore, technical improvements and demand for such services in smart cities are propelling the industry's growth. Also, governments in numerous nations have boosted their expenditure on physical protection. The installation of modern video surveillance and access control systems has been prioritised in key government institutions such as embassies, parliaments, courts, and government offices. At significant events or assemblies, newer technology such as drones, smart fence sensors, and mass notification systems (MNS) are employed for surveillance. Furthermore, the need for video surveillance has been fueled by the fast construction of commercial and institutional infrastructure across many countries, increasing the segment's growth.

However, the high cost of installing the systems is a factor hampering the industry's expansion.

Best Procurement Practices

The global Physical Security Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Physical Security Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Access control, surveillance, and testing are the three essential components of the physical security architecture. How successfully each of these components is implemented, enhanced, and maintained typically determines the effectiveness of an organisation's physical security programme. Limiting and controlling who has access to places, facilities, and materials are critical to enhancing physical security measures. Access control refers to the steps taken to ensure that only authorised personnel have access to specified assets. ID badges, keypads, and security guards are typical examples of business walls. The technology, human resources, and resources that businesses utilise to monitor the behaviour of various real-world sites and facilities are referred to as surveillance in this situation. Patrol guards, heat sensors, and alerting systems are just a few examples. Testing is becoming increasingly vital, especially when it comes to an organisation's unity. Fire drills are an essential exercise for schools and buildings since they aid in the coordination of big groups and their reaction strategy.

Technological Advancements in the Sector, Further Bolstering the Physical Security Services Market

Rapid technological breakthroughs in the industry are propelling the industry. The introduction of the Internet of Things (IoT) has altered the global physical security market’s perspective. Some advancements like intelligent monitoring, remote network monitoring, perimeter protection, face recognition, automotive tracking, iris identification, and fingerprint scanning are projected to benefit from the expansion of IoT and smart technologies. Increased usage of video surveillance systems to improve remote monitoring and physical security has resulted from technological breakthroughs such as UHD and lower equipment costs. Smart security solutions, such as IP video walls, operator/administrative workstations, video management systems, live image analytics, and detection & tracking services, are also connected with smart infrastructure, as these are vulnerable to cyber-attacks. The adoption of integrated solutions is expected to be fueled by the widespread use of cloud computing solutions in businesses, more automation, and a more integrated approach to corporate operations. Guards’ security equipment has also evolved, such as the vapour tracer, which allows for the accurate detection and identification of all forms of vapours and traces of organic, biological, and chemical components in a short amount of time. It is primarily used to identify explosive devices and all forms of drugs. Hence, the following innovations are augmenting the industry's expansion.

The regional markets for the industry can be divided into Europe, North America, South America, the Asia Pacific, and the Middle East and Africa.

Key Industry Players Mentioned in the Physical Security Services Industry Report

  • Securitas AB, Garda World Security Corporation
  • Brinks Security Services Limited
  • Agile Security Force
  • Securiguard Services Ltd.
  • Allied Universal Security Services
  • The Brink’s Company

Market Landscape

To achieve a larger market share, industry leaders focus on delivering various solutions to cater to varied applications. Companies may focus on strategic partnerships, mergers, and acquisitions to strengthen their product offers and market dominance. Companies are heavily invested in R&D and the creation of new products. They provide a wide range of products and services and have attracted customers from several sectors.

Key Initiatives by Companies

  • Johnson Controls, for example, released CEM Systems AC2000 v8.0 Feature Pack 1 in 2017. The technology improves the performance of CEM Systems’ AC2000 access control system suite. Pelco, a subsidiary of Schneider Electric, has introduced several new surveillance and security systems and software, including the VideoXpert Video Management System (VMS). The firm has also released Sarix Professional IP cameras.

1.    Executive Summary
2.    Global Physical Security Systems Market Snapshot

    2.1.    Physical Security Systems Market Outlook
    2.2.    Regional Overview
        2.2.1.    North America
        2.2.2.    Europe
        2.2.3.    Asia Pacific 
        2.2.4.    LATAM
        2.2.5.    MEA
3.    Impact of Recent Events 
4.    Physical Security Systems Value Chain Analysis 
5.    Trade Analysis 
6.    Major Risk Factors in Sourcing
7.    Physical Security Systems Cost Structure
8.    Physical Security Systems Price Analysis
9.    Key Demand Indicator Analysis
10.    Key Price Indicator Analysis
11.    Physical Security Systems Market Dynamics

    11.1.    Drivers & Constraints
    11.2.    Industry Events 
    11.3.    Innovations & Trends
    11.4.    SWOT Analysis
    11.5.    Porter’s Five Forces
        11.5.1.    Buyer Power
        11.5.2.    Supplier Power
        11.5.3.    Threat of New entrants
        11.5.4.    Threat of Substitutes
        11.5.5.    Industry Rivalry
12.    Industry Best Practices
    12.1.    Sourcing Strategy
    12.2.    Procurement Model
    12.3.    Contract Structure
    12.4.    Negotiation Levers
    12.5.    Pricing Model
    12.6.    Key Factors Influencing the Quotation 
13.    Key Supplier Analysis
    13.1.    Securitas AB, Garda World Security Corporation
    13.2.    Brinks Security Services Limited
    13.3.    Agile Security Force
    13.4.    Securiguard Services Ltd.
    13.5.    Allied Universal Security Services
    13.6.    The Brink’s Company

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Key Questions Answered in the Report

The global Physical Security Services market size was valued at USD 318 billion in 2021.

As per the Services provided, the Manned Guarding segment is anticipated to lead the market between the period 2022 – 2027.

The significant demand for security to tackle the risk of physical or digital threats is one of the essential drivers of the Physical Security Services market growth.

Securitas AB, Garda World Security Corporation, Brinks Security Services Limited, Agile Security Force, Securiguard Services Ltd., Allied Universal Security Services, and The Brink's Company are the key companies in the market.

The Europe region of the Physical Security Services industry holds a significant share in the market.

Analyst Review

The global Physical Security Services market attained a value of USD 318 billion in 2021, driven by the rising concerns over the safety and security of assets, people, and growing crime rates and terrorist activities. Furthermore, technical improvements and demand for such services in smart cities are propelling the industry's growth. Also, various initiatives by the government to install safety measures in place of important in furthering the market growth. Aided by the growing technological advancements, including the adoption of IoT and cloud-based technologies, the market is expected to witness further growth in 2022-2027, growing at a CAGR of 6%. The market is projected to reach USD 451.14 billion by 2027. Some of the prominent companies in the industry are Securitas AB, Garda World Security Corporation, Brinks Security Services Limited, Agile Security Force, Securiguard Services Ltd., Allied Universal Security Services, and The Brink's Company.
 
Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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