Manned Guarding Services Market is projected to garner exponential accruals and prominence over the review period due to the increasing terrorist activities and threats worldwide, states Market Research Future (MRFR) in its recently published study report. MRFR estimates that the Global Manned Guarding Services Market is projected to reach USD 7,190.2 million by 2023, registering 6.44% CAGR during the assessment period (2018-2023).
Technological advancements in weapons and the rising demand for effective technology-based products is anticipated to boost the market size of manned guarding services market. Additional factors boosting the market growth include the increasing demand for tough security measures at borders near nations.
The market for manned guarding services grew with the IT revolutions. The technological advancements are contributing to the development of cost-effective security systems which boosts the manned guarding services market.
These have given rise to the security services and demand for private security services from CCTV monitoring to proximity bodyguarding is on the rise. Furthermore, ever-increasing population worldwide, rapid urbanization, industrialization, and improving economic conditions are some of the key factors substantiating the market growth.
On the other hand, the combination of logical and physical components of security is a challenge faced by the Manned Guarding Services Market Analysis. Nevertheless, the integration of high-end equipment such as CCTV cameras with skilled technicians, and the growing gated communities are some of the factors expected to support market growth during the forecasted period.
Global Manned Guarding Services Market – Segments:
MRFR has segmented the analysis into three key dynamics; for better understanding: –
By Type: Equipment and Services.
By End-user: Industrial, Commercial, and Residential.
By Region: Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Global Manned Guarding Services Market – Regional Analysis
The North American region dominates the global manned guarding services market with the significant market share. Presence of well-established market players coupled with the large technological advancements and its uptake are some of the key factors driving the regional market growth. Moreover, the government initiatives against the terrorist attacks and illegal immigration are driving the market of manned guarding services in North America.
The European and Asia Pacific region accounts for the second & third-largest market respectively in the global manned guarding services market. Driven by the increasing terrorism and trespassing cases generate the huge demand for manned guarding services in the APAC region. Some of the Asian countries like China, Japan, and South Korea have a fair share in the manned guarding services market.
Global Manned Guarding Services Market – Competitive Analysis
The highly competitive manned guarding services market is totally dependent on the sales of automobiles. The market appears fragmented owing to the presence of numerous large and small-scale players accounting for a substantial market share. Well-established players rely on acquisitions, collaborations, partnerships, and new technology launches in order to gain competitive advantage and maintain their positions in this market.
On the sales side, companies are investing in brand building and fostering strong relationships with customers to support their competitive position. These service providers strive to develop a unique add-on service with unrivaled features. International players are entering the emerging markets of developing economies such as India/China market to tap the growing opportunity.
Fervent players driving the manned guarding services market include Transguard Group, China Security & Protection Group Co. Ltd., SIS International S.R.L, G4S plc, OCS Group Ltd., Axis Group Integrated Services Ltd., Andrews International Inc., ICTS Europe S.A., Securitas AB, U.S. Security Associates Inc., Tops Security Limited, and Allied Universal.
November 02, 2018 – Per Mar Security Services (US), a leading provider of manned guarding services, home security and business security solutions announced the acquisition of ABC Fire & Burglar Co. (US), a larger locally owned security company operating through the New Orleans metropolitan area to further expand its commercial and residential security services and customer base in Northwest Indiana.
October 09, 2018 – Mitie Group PLC (UK), a facility management company announced the acquisition of Vision Security Group (UK), a security services provider offering integrated systems, manned guarding and key holding services for 14 MN UK£. This acquisition gives Mitie the leadership position they have been seeking to maximize value from their technology-led solutions.
November 15, 2018 – Corps Security (UK), a well-established specialist security services provider announced appointing SmartTask, a technology company as its partner as part of a business improvement initiatives designed to enhance contract delivery and increase operational compliances. The firm will implement an advanced patrol monitoring and electronic DOB solutions across the customer sites to gain added control and visibility over its manned guarding and mobile security operations.