Global Guard Service Revenues to Grow 6% Annually Through 2022

Growth will be driven primarily by gains in developing countries

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Nov 05, 2018, 09:42 ET

CLEVELAND, Nov. 5, 2018 /PRNewswire/ -- Global guard service revenues are projected to increase 6.0% per year to $145.2 billion in 2022. Growth will be driven primarily by gains in developing countries, with highly populous industrializing nations such as China and India contributing a particularly large share. These and other trends are presented in Global Security Services, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-security-services-3682.htm

Factors supporting gains include:

increased urbanization and income inequality, which will heighten concerns about crime as well as boost the size of the population able to afford guard services
improvements in licensing and professionalization, which will boost public trust and enable price increases
greater outsourcing of non-core business activities such as guarding
increased penetration of technologically advanced security systems, which will demand more highly skilled guards

This segment tends to be mature in developed nations, and gains in North America and Western Europe will be modest. High labor costs and intensive penetration of electronic security services will drive strong investment in labor-saving equipment that can reduce the number of guards needed for a given application.

Global revenues for all security service types are forecast to rise 5.8% per year to $269 billion in 2022. Generally, demand for supplemental security service is driven by the perceived risk of crime victimization and the ability to pay for it. Specific factors driving demand growth vary by the degree of development in the market.

Global Security Services (published 10/2018, 373 pages) is available for $6800 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/World-Security-Services.html

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Security studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group