GITNUX MARKETDATA REPORT 2024

The Most Surprising Private Security Industry Statistics And Trends in 2024

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The private security industry is a rapidly growing sector, with the global market expected to reach $240 billion by 2020. In the United States alone, there are over 1 million security guards employed and revenues from contract security services totaling around $41 billion in 2020. On a global scale, manned guarding remains the most dominant segment of private security services with 46% market share and an estimated 20 million people employed worldwide. North America’s demand for these services is projected to reach nearly $46.2 billion by 2024 while Asia’s private security market is anticipated to grow at a CAGR of 9%. Additionally, New Zealand has seen its number of licensed guards increase from 9,726 in 2011 to 17651 in 2019; 60% of positions within this field remain unarmed while 66% work primarily across US Europe and Asia regions respectively. The UK employs 270 thousand personnel within their own respective firms whilst India’s total spending on such was forecasted as reaching INR 1.8 trillion last year – alongside 15 percent (US households) using similar devices or cameras for surveillance purposes too. Cash logistics also plays an important role here – valued at approximately 18 point 6 Billion USD back 2018 – yet Latin American countries have one of highest public-to-private ratios globally: 4 point 6 per person. All things considered it appears that Private Security Industry Statistics continue to demonstrate strong growth potential both now & into future years ahead.

The Most Important Statistics
The private security industry is expected to be valued at $240 billion by 2020.

This statistic is a testament to the immense growth of the private security industry, indicating that it is a booming sector that is expected to continue to expand in the coming years. It is a valuable piece of information for anyone interested in the private security industry, as it provides insight into the potential of the industry and the opportunities it presents. This statistic is especially pertinent to a blog post about Private Security Industry Statistics, as it provides a glimpse into the future of the industry and the potential it holds.

There are over 1 million security guards employed in the United States.

This statistic is a testament to the importance of the private security industry in the United States. It highlights the sheer number of people employed in the sector, demonstrating the significant role it plays in keeping people and property safe. It also serves as a reminder of the need for continued investment in the industry to ensure that security guards are adequately trained and equipped to do their jobs.

Private Security Industry Statistics Overview

The demand for private security services in North America is projected to reach $46.2 billion by 2024.

This statistic is a testament to the growing importance of private security services in North America. It highlights the increasing demand for these services, indicating that more and more people are turning to private security to protect their homes, businesses, and other assets. This is a clear indication that the private security industry is thriving and is likely to continue to do so in the coming years.

In the United States, over 50% of private security industry revenues come from contract security, totaling around $41 billion in 2020.

This statistic is a telling indication of the importance of the private security industry in the United States. It highlights the fact that contract security services are a major source of revenue for the industry, accounting for over half of its total income. This statistic is a testament to the fact that private security is a vital part of the US economy, and its services are in high demand. It is also a reminder of the need for continued investment in the industry to ensure its continued success.

Private security companies employ approximately 20 million people worldwide.

This statistic is a testament to the sheer size and scope of the private security industry. It highlights the fact that private security companies are a major employer, providing jobs to millions of people around the world. This statistic is an important indicator of the industry’s economic impact and its importance to the global economy.

Approximately 66% of private security personnel work in the United States, Europe, and Asia.

This statistic is a telling indication of the global reach of the private security industry. It highlights the fact that private security personnel are employed in a wide range of countries, from the United States to Europe and Asia, demonstrating the industry’s international presence. This is an important point to consider when discussing the private security industry, as it shows the scope of the industry and its impact on the global economy.

The Asian private security market is expected to grow at a CAGR of 9% between 2016 and 2025.

This statistic is a testament to the potential of the Asian private security market, indicating that it is a lucrative and growing industry. It is an important piece of information for anyone interested in the private security industry, as it provides insight into the current and future state of the market. This statistic is especially pertinent for those looking to invest in the industry, as it suggests that the Asian private security market is a viable and profitable option.

The number of licensed private security guards in New Zealand increased from 9,726 in 2011 to 17,651 in 2019.

This statistic is a testament to the growing importance of the private security industry in New Zealand. It shows that the demand for private security services has increased significantly over the past eight years, indicating that more and more people are turning to private security to protect their property and assets. This is a clear indication that the private security industry is becoming an increasingly important part of the New Zealand economy.

60% of security officer positions in the private security industry are unarmed.

This statistic is a telling indication of the prevalence of unarmed security officers in the private security industry. It highlights the importance of unarmed security officers in the industry, and the need for organizations to ensure that they are properly trained and equipped to handle any potential threats. Furthermore, it serves as a reminder of the importance of having a well-trained and experienced security team in place to protect people and property.

Private security firms in the United Kingdom employ over 270,000 people.

This statistic is a testament to the sheer size and scope of the private security industry in the United Kingdom. It highlights the fact that the industry is a major employer, providing jobs and economic security to a large number of people. It also serves as a reminder of the importance of the industry in providing security services to businesses, organizations, and individuals.

The total spending on private security in India was projected to reach INR 1.8 trillion by the end of 2020.

This statistic is a testament to the immense growth of the private security industry in India. It highlights the increasing demand for private security services, which is indicative of the growing need for security in the country. This statistic is a valuable insight into the current state of the private security industry in India, and provides a glimpse into the future of the industry.

In 2020, the global security industry reached an estimated market value of $160.1 billion.

This statistic is a testament to the immense growth of the private security industry in 2020. It highlights the increasing demand for security services and the need for businesses to invest in security solutions to protect their assets and personnel. This statistic is a clear indication of the importance of the private security industry in today’s world.

The average annual wage for a security guard in the US is $31,080 (2020 data).

This statistic is a telling indication of the value of security guards in the US. It highlights the importance of the private security industry and the need for reliable and well-trained personnel to protect people and property. It also serves as a benchmark for the wages of security guards, providing insight into the financial stability of the industry.

In 2019, there were 7,135 registered security businesses in Australia.

This statistic is a testament to the growth of the private security industry in Australia. It shows that the industry is thriving and that more and more businesses are taking advantage of the services offered by security companies. This statistic is important for anyone looking to gain insight into the industry and its current state. It provides a snapshot of the industry and can be used to inform decisions about investments, hiring, and other business decisions.

61% of private security companies in the US offer either alarm monitoring systems or surveillance cameras.

This statistic is a telling indication of the prevalence of alarm monitoring systems and surveillance cameras in the private security industry in the US. It highlights the importance of these technologies in providing security services, and demonstrates the commitment of private security companies to keeping their clients safe. This information is essential for anyone looking to gain a better understanding of the private security industry and the services it provides.

The cash logistics segment in the private security industry was valued at around $18.6 billion in 2018.

This statistic is a testament to the sheer size and scope of the private security industry. It highlights the immense value of the cash logistics segment, which is a major component of the industry. It also serves as a reminder of the importance of private security services in today’s world, and the need for continued investment in the sector.

The public-to-private security personnel ratio in Latin America is 1:4.6, higher than most other regions worldwide.

This statistic is a telling indication of the importance of private security in Latin America. With a ratio of 1:4.6, it is clear that private security personnel are relied upon more heavily in this region than in other parts of the world. This speaks to the need for increased security measures in Latin America, and the potential for growth in the private security industry.

In 2018, an estimated 15% of US households with internet access used private security cameras or similar devices.

This statistic is a telling indication of the growing popularity of private security cameras and similar devices. It shows that more and more households are recognizing the value of having an extra layer of security in their homes. This is a clear sign that the private security industry is on the rise, and that it is becoming an increasingly important part of home security.

Conclusion

The private security industry is a rapidly growing sector, with the global market expected to reach $240 billion by 2020 and grow at a CAGR of nearly 7% from 2020 to 2027. In the United States alone, over 1 million security guards are employed in this field and it generates around $41 billion in contract security revenues annually. Private security companies employ approximately 20 million people worldwide, with 66% working in North America, Europe or Asia. Manned guarding services account for 46% of all private security services globally while cash logistics make up 18%. The public-to-private personnel ratio varies greatly between regions but Latin America has one of the highest ratios at 1:4.6. Additionally, an estimated 15% of US households have adopted some form of home surveillance technology such as cameras or alarm systems for added protection against crime and other threats. With these statistics showing no signs that demand will slow down anytime soon, it’s clear that the future looks bright for those involved in this ever expanding industry

References

0. – https://www.abs.gov.au

1. – https://www.worldbank.org

2. – https://www.rand.org

3. – https://www.ibisworld.com

4. – https://www.researchandmarkets.com

5. – https://www.businesswire.com

6. – https://www.bls.gov

7. – https://www.parksassociates.com

8. – https://www.stats.govt.nz

9. – https://www.economictimes.indiatimes.com

10. – https://www.brandessenceresearch.com

11. – https://www.asisonline.org

12. – https://www.securitymagazine.com

13. – https://www.globenewswire.com

14. – https://www.statista.com

Srive – Private Security Industry Statistics

FAQs

What is the estimated global market value of the private security industry?

As of 2021, the estimated global market value of the private security industry is around $240 billion, and it is expected to grow steadily in the coming years.

What are some common services provided by the private security industry?

The private security industry provides services such as security guard services, alarm monitoring, security system installation and management, private investigations, cybersecurity, risk assessment and management, and security training and consultation.

What factors contribute to the growth of the private security industry?

Factors contributing to the growth of the private security industry include rising crime rates, terrorism threats, urbanization, increasing demand for security technology, and a lack of confidence in public law enforcement agencies.

How is technology changing the private security industry?

Technology is significantly impacting the private security industry through the integration of advanced surveillance systems, artificial intelligence, facial recognition, drone technology, and cybersecurity services, leading to more efficient and effective security solutions.

Are there any regulations or compliance standards within the private security industry?

Yes, there are regulations and compliance standards that vary by country, region, and service type within the private security industry. These may include licensing requirements, background checks, employee training standards, and specific rules for handling sensitive information or conducting investigations.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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