Private Security Services

17th Edition

Featuring 51 tables and 49 figures – now available in Excel and Powerpoint! Learn More

This study analyzes the US private contracted security services market, including providing security for facilities, assets, and personnel. Revenues for private security services are examined by service and market in US dollars. Historical data for 2008, 2013, and 2018 and forecasts for 2023 are presented in current dollars (which are not adjusted to account for inflation).

Revenues by service include:

guarding (includes patrolling, monitoring surveillance equipment, and overseeing stationary locations)
security monitoring (includes planning security systems, performing maintenance and reviews, reacting to events, and providing post-event support)
private investigations – includes hired personnel to perform such duties as:
- criminal, credit, and driving record searches
- verification of social security numbers, educational and professional credentials, previous employment, and property ownership
- the location of missing persons
- polygraph examinations
- undercover operations
- searches for data for legal proceedings and regulatory matters
- retrieval of electronic data
- forensic accounting
- insurance, internal theft, competitive intelligence, and due diligence investigations
systems integration and management, including:
- installation of new security systems, adding new components to an existing system, or integration of security equipment into overall building functions
- recurring services such as system maintenance, database management, and system monitoring
cash-in-transit and related services (includes the transport of cash, other legal tender, and valuables via armored transport vehicles, and the provision of ATM management and replenishment, cash management, secured logistics, and other back office services)
security consulting (includes proactively planning security systems, performing maintenance and reviews, reacting to events, and providing post-event support)
pre-employment screening (includes the screening of job applicants)
drug and contraband detection dog services
training for guards and other security personnel
sweeping for bombs and surveillance devices
renting vault rooms for off-site storage of computer data and other valuables
private airline security services

Markets include:

nonresidential:
- commercial (commercial offices and office buildings)
- industrial (manufacturing facilities and warehouses)
- government (courthouses, embassies, jails, military bases, monuments, prisons, publicly owned utilities, other government buildings)
- institutional (includes drug treatment centers, hospitals, nursing homes, psychiatric facilities, and rehabilitation centers, as well as primary and secondary schools, higher education facilities and campuses such as colleges and universities, day care centers, tutoring centers, non-degree granting institutions such as certificate, business, or trade programs)
- other nonresidential (includes theaters, concert halls, convention centers, sports arenas, stadiums, and other public venues; private utilities plants; nonprofit agencies; and air and nautical ports, bus terminals, train stations, and other transportation facilities)
residential (includes single-family homes, multifamily homes, and manufactured homes)

Excluded from the scope of this study are:

public safety personnel (e.g., police officers, public corrections officers, federal agents, and firefighters)
in-house, proprietary security services, such as guards, detectives, and off-duty police officers on the paid staff of (non-security) business establishments
equipment installation services (aside from systems integration)
locksmith activities
security products distribution and sales
private correctional facility management

Printer Friendly

Table of Contents

1. Executive Summary

2. Overview

Key Findings

Private Security Service Revenues

Public Safety Environment

Public Safety Personnel

Crime

Historical Crime Rates

Violent Crime

Property Crime

Terrorism

Other Nonconventional Crime

Fire

Trends in Reported Crime vs. Perceived Crime Risk

Technology Trends

Impact of Increasing Technology

Systems Integrators & Security Consultants

Security Monitoring

Smart Technology

Other Service Segments

Legal & Regulatory Environment

Regulations Affecting the US Security Industry

Guard Service

Security Monitoring

Cash-in-Transit & Related Services

Private Investigators

Pre-Employment Screening

Security Equipment & Services: Complementary & Competitive Products

3. Consumer Insights

Key Findings

Consumer Concern About Crime

Real vs. Perceived Crime Risk

Concern About Crime at Home

Concern About Crime Away From Home

Alarm & Home Security System Ownership

Ownership by Alarm Type

Ownership by Selected Demographics

Concerns About Owning an Alarm System

Video Surveillance Camera Ownership

Ownership by Video Surveillance Type

Reasons for Owning a Video Surveillance Camera

Reasons for Owning a Security System

Gun License Trends

License by Type

Gun Control Preferences of Gun Owners

Smoke Detector Use & Purchasing Trends

Attitudes About Metal Detectors & Scanners

4. Guarding

Key Findings

Factors Impacting Guarding Revenues

Guarding: Impact of Technological Advances

Guarding: Pre-Employment Screening

Guarding: Training

Guarding: Wages & Benefits

Guarding Revenue Forecast

Guarding: Applications

Guarding: Traditional Services

Guarding: Specialized Services

Guarding: Vendors & Market Share

5. Security Monitoring

Key Findings

Security Monitoring: Revenue Forecast

Security Monitoring: Revenues by Service Type

Residential Intrusion & Fire

Nonresidential Intrusion & Fire

Personal Emergency Response Systems (PERS)

Mobile PERS Technologies

Security Monitoring: False Alarms

Prevalence of False Alarms

Local Codes & Industry Standards for False Alarms

Mitigation Innovations for False Alarms

Security Monitoring: Market Share & Vendors Competition

6. Other Services

Key Findings

Revenues by Type

Private Investigation Services

Private Investigation Services: Revenues

Private Investigation Services: Vendors

Systems Integration & Management

Systems Integration & Management: Revenues

Systems Integration & Management: Vendors

Cash-in-Transit & Related Services

Cash-in-Transit & Related Services: Revenues by Service

Traditional Armored Transport

ATM Management & Replenishment

Secured Logistics

Cash Management

Cash-in-Transit & Related Services: Vendors & Market Share

Security Consulting

Security Consulting: Revenues

Security Consulting: Vendors

Pre-Employment Screening

Pre-Employment Screening: Revenues

Pre-Employment Screening: Screening Regulations & Ban-the-Box Trends

Pre-Employment Screening: Vendors

Other Security Services

7. Markets

Key Findings

Revenues by Market

Commercial

Revenue by Service & Sector

Commercial Offices & Office Buildings

Commercial Offices & Office Buildings: Revenue by Service Type

Commercial Offices & Office Buildings: Key End Users

Financial Institutions: Revenues by Service Type

Retail

Retail: Revenues by Service Type

Retail: Shrink

Other Commercial: Revenues by Service Type

Industrial

Industrial: Revenues by Service Type

Industrial: Revenues by Market

Government: Revenues by Service Type

Institutional

Institutional: Revenues by Service Type & Market

Healthcare

Educational Facilities

Other Institutional Settings

Other Nonresidential

Other Nonresidential: Revenues by Service Type & Market

Public Venues

All Other Nonresidential

Residential

Residential: Revenues by Service Type

Residential: Security Monitoring Trends

8. Industry Structure

Key Findings & Industry Composition

Industry Composition by Service

Guarding Firms

Security Monitoring Firms

Private Investigation Firms

Security Systems Integration Firms

Cash-in-Transit & Related Firms

Security Consulting Firms

Pre-Employment Screening Firms

Market Share

Competitive Strategies

Marketing

Marketing: Perceived Risk & Targeted Marketing

Marketing: Nonresidential

Marketing: Residential

Mergers & Acquisitions

Cooperative Agreements

List of Industry Participants

9. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographics

Consumer Spending Trends

Building Construction Outlook

Business Establishment Trends

Manufacturing Outlook

Service Sector Outlook

List of Tables

2. Overview

Table 2-1 | Private Security Service Revenues, 2008 - 2023 (million dollars)

Table 2-2 | Public Safety Sector Employment, 2008 - 2023 (thousands)

Table 2-3 | Violent Crime Levels, 2008 - 2018 (thousands)

Table 2-4 | Property Crime Levels, 2008 - 2018 (thousands)

Table 2-5 | Incidences of Terrorism in the US, 2008 - 2017

Table 2-6 | Selected Other Nonconventional Crimes, 2008 - 2018 (thousand arrests)

Table 2-7 | Fire Levels & Losses, 2008 - 2017

3. Consumer Insights

Table 3-1 | Agreement with the Statement "I worry about violence and crime", 2009 - 2019 (percent of respondents)

Table 3-2 | Agreement with the Statement "I worry about violence and crime" by Selected Demographics, 2019 (percent of respondents)

Table 3-3 | Alarm System Ownership & Purchases in Last 12 Months by Type, 2009 - 2019 (percent of households)

Table 3-4 | Alarm & Home Security System Ownership & Purchasing Trends by Selected Demographics, 2019 (percent of households)

Table 3-5 | Smoke/Fire Detector Ownership & Purchasing Trends by Selected Demographics, 2019 (percent of households)

4. Guarding

Table 4-1 | Guarding Revenues, 2008 - 2023 (million dollars)

Table 4-2 | Specialized Guard Offerings

5. Security Monitoring

Table 5-1 | Security Monitoring Service Revenues by Service Type, 2008 - 2023 (million dollars)

Table 5-2 | Residential Intrusion & Fire Security Monitoring Revenue, 2008 - 2023 (million dollars)

Table 5-3 | Nonresidential Security Monitoring Revenue, 2008 - 2023 (million dollars)

Table 5-4 | Personal Emergency Response System Monitoring Revenue, 2008 - 2023 (million dollars)

6. Other Services

Table 6-1 | Other Private Security Service Revenues, 2008 - 2023 (million dollars)

Table 6-2 | Private Investigation Revenues, 2008 - 2023 (million dollars)

Table 6-3 | Examples of Private Investigative Services by Market

Table 6-4 | Systems Integration & Management Service Revenues, 2008 - 2023 (million dollars)

Table 6-5 | Cash-in-Transit (CIT) & Related Service Revenues by Service, 2008 - 2023 (million dollars)

Table 6-6 | Security Consulting Revenues, 2008 - 2023 (million dollars)

Table 6-7 | Pre-Employment Screening Service Revenues, 2008 - 2023 (million dollars)

Table 6-8 | Other Security Service Revenues, 2008 - 2023 (million dollars)

7. Markets

Table 7-1 | Private Security Service Revenues by Market, 2008 - 2023 (million dollars)

Table 7-2 | Commercial Security Service Revenues by Service & Sector, 2008 - 2023 (million dollars)

Table 7-3 | Commercial Office & Office Building Security Service Revenues, 2008 - 2023 (million dollars)

Table 7-4 | Financial Institution Security Service Revenues, 2008 - 2023 (million dollars)

Table 7-5 | Retail Security Service Revenues, 2008 - 2023 (million dollars)

Table 7-6 | Other Commercial Security Service Revenues, 2008 - 2023 (million dollars)

Table 7-7 | Industrial Security Service Revenues by Service, 2008 - 2023 (million dollars)

Table 7-8 | Industrial Security Service Revenues by Market, 2008 - 2023 (million dollars)

Table 7-9 | Government Security Service Revenues, 2008 - 2023 (million dollars)

Table 7-10 | Institutional Security Service Revenues by Service & Market, 2008 - 2023 (million dollars)

Table 7-11 | Other Nonresidential Security Service Revenues by Service & Market, 2008 - 2023 (million dollars)

Table 7-12 | Residential Security Service Revenues, 2008 - 2023 (million dollars)

8. Industry Structure

Table 8-1 | US Private Security Service Revenues by Company, 2018 (million dollars)

Table 8-2 | Key Competitive Strategies for Private Security Service Providers

Table 8-3 | Selected Mergers & Acquisitions

Table 8-4 | Selected Cooperative Agreements

9. Appendix

Table 9-1 | Relevant NAICS & SIC Codes

Table 9-2 | Abbreviations & Acronyms Used in This Report

Table 9-3 | Macroeconomic Indicators, 2008 - 2023 (billion 2012 dollars & billion dollars)

Table 9-4 | Population & Households, 2008 - 2023 (million persons)

Table 9-5 | Personal Consumption Expenditures, 2008 - 2023 (billion dollars & billion 2012 dollars)

Table 9-6 | Building Construction Expenditures, 2008 - 2023 (billion dollars & billion 2012 dollars)

Table 9-7 | Business Establishments, 2008 - 2023 (thousand units)

Table 9-8 | Manufacturers' Shipments, 2008 - 2023 (billion dollars)

Table 9-9 | Service Sector Outlook, 2008 - 2023 (billion dollars)

List of Figures

1. Executive Summary

Figure 1-1 | US Private Security Service Market

2. Overview

Figure 2-1 | Key Factors Impacting the US Private Security Service Market

Figure 2-2 | Private Security Service Revenues, 2008 - 2018 (billion dollars)

Figure 2-3 | Safety Sector Employment Share by Type, 2018 (billion employees)

Figure 2-4 | Consumer Insights: "I believe that local public safety forces (i.e., police & fire department) are able to adequately protect me", 2019 (percent of total respondents)

Figure 2-5 | Historical Crime Rates, 2008 - 2018 (crimes per thousand persons)

3. Consumer Insights

Figure 3-1 | Key Consumer Insights in the US Private Security Service Market

Figure 3-2 | Consumer Perceptions of Potential Crime Risk in Past 12 Months, 2019 (percent of respondents)

Figure 3-3 | Consumer Concern About Crime at Home, 2019 (percent of respondents)

Figure 3-4 | Consumer Concern About Crime Away from Home, 2019 (percent of respondents)

Figure 3-5 | Consumer Alarm System Ownership by Type, 2019 (percent of respondents)

Figure 3-6 | Biggest Consumer Concerns About Using Alarm Systems at Home, 2019 (percent of respondents)

Figure 3-7 | Consumer Video Surveillance Camera Ownership by Type, 2019 (percent of respondents)

Figure 3-8 | Reasons for Owning a Video Surveillance Camera, 2019 (percent of respondents)

Figure 3-9 | Reasons for Owning an Alarm or Video Surveillance Camera at Home, Monitored or Otherwise, 2019 (percent of respondents)

Figure 3-10 | "Are you licensed to carry a gun?" by License Type, 2019 (percent of respondents)

Figure 3-11 | Gun Control Preferences, 2019 (percent of respondents)

Figure 3-12 | Metal Detector & Scanner Attitudes, 2019 (percent of respondents)

4. Guarding

Figure 4-1 | Key Trends in Guarding

Figure 4-2 | Guard Background Check Requirements by US State, 2019

Figure 4-3 | Guard Training Requirements by US State, 2019

Figure 4-4 | Primary Guarding Applications

Figure 4-5 | Guarding Market Share by Company, 2018 (billion dollars)

5. Security Monitoring

Figure 5-1 | Key Trends in Security Monitoring

Figure 5-2 | Security Monitoring Service Revenues, 2008 - 2023 (million dollars)

Figure 5-3 | Residential Security Monitoring Revenues & Share of Households with Subscriptions, 2008 - 2023

Figure 5-4 | Nonresidential Security Monitoring Revenues & Subscriptions, 2008 - 2023

Figure 5-5 | PERS Alarm Monitoring Revenues & Contracts, 2008 - 2023

Figure 5-6 | Security Monitoring Service Market Share by Company, 2018 (billion dollars)

6. Other Services

Figure 6-1 | Key Trends in Other Private Security Services

Figure 6-2 | Types of Systems Commonly Integrated

Figure 6-3 | Cash-in-Transit (CIT) & Related Spending Per Banking & Credit Office, 2008 - 2023

Figure 6-4 | Cash-in-Transit & Related Services Market Share by Company, 2018 (billion dollars)

Figure 6-5 | Types of Security Consulting Services

Figure 6-6 | Pre-Employment Screening Per Civilian Employee, 2008 - 2023

7. Markets

Figure 7-1 | Key Private Security Service Trends by Market

Figure 7-2 | Security Spending in Commercial Offices & Office Buildings, 2008 - 2023

Figure 7-3 | Security Service Spending Per Banking & Credit Office, 2008 - 2023

Figure 7-4 | Healthcare Facilities & Spending Per Facility, 2008 - 2023

Figure 7-5 | Education Facilities & Spending Per Facility, 2008 - 2023

8. Industry Structure

Figure 8-1 | Private Security Services Market Share by Company, 2018 (billion dollars)

Figure 8-2 | Private Security Service Market: First Leading Provider

Figure 8-3 | Private Security Service Market: Second Leading Provider

Figure 8-4 | Private Security Service Market: Third Leading Provider

Figure 8-5 | Private Security Service Market: Fourth Leading Provider

Figure 8-6 | Private Security Service Market: Co-Fifth Leading Provider

Figure 8-7 | Private Security Service Market: Co-Fifth Leading Provider

9. Appendix

Figure 9-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 9-2 | Annual Population Growth, 2003 - 2018 (percent)