Private Security Services in India to Double, Reaching $16.5 Billion in 2020

India represents a large and growing market for private security services, employing 8.9 million people and posting revenues of $8.5 billion in 2015.  Security services revenue more than doubled between 2010 and 2015, one of the strongest growth rates of any nation globally.  Growth is driven by the country’s large and growing population, socioeconomic diversity, political instability, and widespread -- although frequently unreported -- criminal activity.  These factors have resulted in an environment with heightened concerns regarding safety.  According to analyst Katherine Brink, “The nation is home to one of the smallest public safety forces in the world compared to total population.  As a result, many end users believe that the capabilities of public officials are stretched too thin to provide efficient protection.”  These and other trends are presented in Global Security Services Market, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

Through 2020, demand for private security services is projected to nearly double to $16.5 billion, rising at one of the fastest national rates and accounting for 22 percent of revenues in the Asia/Pacific region.  Gains will be driven by strong growth in population, particularly urban population, resulting in a greater number of individuals living in areas where the threat of crime is heightened.  Rising disposable incomes, will result in a greater number of people having the ability to afford supplemental services in order to protect their assets.  Strong gains in building construction activity, including an acceleration in the nonresidential segment, will provide a further boost to demand, as security systems and related services are most often implemented during initial construction or major renovations.  Increasing foreign investment by firms headquartered in more developed markets will also continue to promote gains, as these end users tend to be the most intensive users of supplemental security services due to their high standards. Moreover, ongoing efforts to improve training and licensing of security firms, as well as increasing compliance, will bolster the market by increasing consumer trust in providers.   

Global Security Services Market, 12th Edition (published 01/2017, 355 pages) is available for $6700 from The Freedonia Group.  For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email pr@freedoniagroup.com.

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