Manned security services market refers to the market size of the services offered by trained security personnel to ensure safety. It also includes the market for equipment that aids in providing these services. There is a huge demand for guarding personnel in industrial, commercial, and residential buildings. The market is highly organized and well regulated in developed countries such as the U.S and the UK. The market is highly fragmented and comprises various key players operationg at an international as well as regional levels.
The global manned security services market is influenced by various factors, such as growing urban population and consequent asset creation; increasing transition of people to living in secure apartments and gated communities, owing to the rising crime rates; development of training centres for security personnel and low police per capita, especially in developing countries such as China and India; rise of automated security systems; and increasing transition to organized market.
The global manned security services market is estimated to witness a CAGR of 6.34% during the forecast period. The global manned security services market has been segmented on the basis of type and end-user. In terms of type, the equipment segment is estimated to account for the largest market share of 66.72% in 2018, with a market value of USD 63.73 billion, projected to grow at a CAGR of 6.88%, during the forecast period. In terms of end-user, the industrial buildings segment is estimated to account for the largest market share of 50.06% in 2018, with a market value of USD 47.81 billion, projected to grow at a CAGR of 6.32%, during the forecast period.