Guarding Revenues Reached $29 Billion in 2018 - Freedonia Group Analysis

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Nov 18, 2019, 12:52 ET

CLEVELAND, Nov. 18, 2019 /PRNewswire/ -- Guarding revenues reached $29 billion in 2018 and represented 43% of private security service revenues. Guards are valued for their visible, physical presence, which can deter potential crimes. Many end users also prefer not to maintain their own in-house, proprietary security forces due to liability concerns, supporting demand from private providers. These trends and more are analyzed in Private Security Services published by The Freedonia Group.

For more information regarding the study visit: https://www.freedoniagroup.com/industry-study/private-security-services-3764.htm

US guarding revenues are expected to grow 2.6% per year through 2023, reaching $33 billion. Gains will be supported by:

continued interest in more highly trained, and thus more expensive, guards who provide a variety of market specific services
increasing demand for armed security guards, who require additional training and command higher wages
ongoing technological advances to security systems that make guards more efficient and cost effective

From 2013 to 2018, guarding revenues matched the pace of the overall security services market, supported by a number of the aforementioned trends. However, guarding is one of the most mature segments of the market and will see among the slowest gains of any segment through 2023.

Contact Corinne Gangloff for an interview with the analyst.

Additional Security studies can be viewed here:
https://www.freedoniagroup.com/industry-category/secu/security.htm

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, 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. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group