Manned Guarding Services Market Size is expected to reach USD 7,190.2 million by 2023, at a 6.44% of CAGR

Manned Guarding Services Market Research Report Information: Type (Services), End-user (Industrial, Commercial, Residential), By Region – Forecast Till 2023

Report Overview

This report allows the user to gain a deeper understanding of the ongoing events and trends in the global market for manned guarding services. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the global manned guarding services market segmented by type, end-user, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

The global manned guarding services market is anticipated to exceed a projection of USD 7,190.2 million by 2023, as per a new detailed report by Market Research Future (MRFR). It is expected to showcase a 6.44% CAGR during the assessment period (2018-2023). Rising cases of crimes globally is the primary factor driving the market. Rapid urbanization caused by migration of citizens to cities is expected to create demand for manned guarding services.

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Major Key Players

China Security & Protection Group Co. Ltd.,
Transguard Group,
SIS International S.R.L,
OCS Group Ltd.,
G4S plc,
Axis Group Integrated Services Ltd.,
ICTS Europe S.A.,
Andrews International Inc.,
Securitas AB,
Allied Universal, U.S. Security Associates Inc., and Tops Security Limited are prominent players in the manned guarding services market.

The report offers comprehensive profiles on these market players and assesses their current standing in the manned guarding services market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, M&A activities, and latest R&D initiatives are outlined in the report.

Segmental Analysis:

The global manned guarding service market can be segmented by type, end user, and region.
By type, the market can be further sub-segmented into equipment and service. Equipment-based market depends on the equipment carried by the security personnel such as two-way radio, flashlight, utility vest & belt, and other defense equipment. This segment includes other equipment which are less reliant on security guards such as cameras, hand-held metal detectors, door entry equipment, and innovative access control products. Dependence on such devices could hamper the market growth. The segment is touted to grow at a CAGR of 6.98% during the forecast period. In the service segment, a growing need for technology can be witnessed. This segment is estimated to grow at a pace of 5.31% CAGR during the forecast period.

End-users include industrial buildings, commercial buildings, and residential buildings. Industrial buildings comprise automotive, fast-moving consumer goods (FMCG), pharmaceutical, telecommunication & media, mining, energy, oil & gas, construction, and logistics. Among these, telecommunication & media is expected to grow at the fastest CAGR of 6.81% during the forecast period and contribute the most. The industrial segment is likely to exhibit a CAGR of 6.53% during the forecast period. Commercial buildings include banks, financial services and insurance sector, IT & IT-enabled service sectors, shopping centers, airports, educational institutions, and others. In general, these buildings attract massive crowds. Hence, the growth in the need for manned security service. The commercial segment can showcase a CAGR of 6.66% during the forecast period. The residential building segment is likely to witness a CAGR of 5.51% during the assessment period.

Regional Segmentation:

Geographically, the global manned guarding service can be segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America.
North America has a huge market owing to the presence of major players in the region such as Allied Universal, Securitas, Andrews International Inc., G4S plc, ICTS Europe S.A., OCS Group Limited, and U.S. Security Associates. Recently after the consolidation of the security industry in North America, more opportunities in this sector has been created.
Europe and APAC collectively generate almost 50% of the overall market revenue. Europe uses a combination of manned security service and electronic devices to further its growth.
The APAC market is supposed to experience a high growth rate owing to reputed companies investing in the region for expansion purposes. The area has a huge population base, compared to which the police per capita is less than the global average in many pockets. Lack of skilled employees and technologically upgraded security equipment can trigger the market growth.

Analysis Period
• Base Year - 2017
• Projection Period - From 2018 to 2023
• Market Denomination - USD Million
• Conversion Rate - Considered as per the respective financial years

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Intended Audience
• Service Providers
• Real Estate Business
• Policy Makers

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