Private Security Services in the US by Service and Market, 15th Edition

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Study Number:: Industry Study 3517
Published Date: from Apr-2017
Publication Length: 154 Pages

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Heightened Perceived Risk of Crime and Interest in Value-Added Offerings Drive Security Service Revenues

Private security service revenue growth will be driven by heightened security concerns stemming from a large number of highly publicized tragedies, such as school shootings and bombings. Similarly, the rising perceived risk of all types of crime among end users despite long term declines in reported crimes will spur more end users to invest in these services.

In addition, increased interest in a wide variety of value-added offerings in most security service segments will provide a boost to revenues.

Gains will further benefit from expanding building construction activity and growth in the number of business establishments, which will provide a broader potential market base and supporting growing security spending among existing end users.

Key Findings in the Private Security Services Study:

Security Technology Continues to both Compete with and Complement Security Services

An ever-evolving technological landscape has had a mixed effect on security service revenues. For example, guarding services face competition from analytic-enhanced video surveillance systems, which are able to provide many of the same surveillance capabilities as a guard force. However, guards who are trained to manage and operate advanced security systems for the facilities where they work are an increasingly popular value-added segment.

The two service segments that most directly benefit from changing technologies are systems integration and management and security consulting service providers, both of which help end users plan, implement, and manage their security systems.

Additionally, the declining cost of security devices, such as video cameras and audio equipment, will aid demand for related value-added monitoring services, such as video verification and two-way audio.

Security Services Revenues Driven by Market-Specific Needs

The intensity of private security services use is often linked to how integral security is to a given facility. For instance, markets that are highly dependent on security as part of their business, such as the financial sector, invest far more into supplemental services than markets that tend to view security as a non-revenue generating expense, such as retail and office buildings.

Private providers will continue to face competition from in-house security staff at large facilities and from public providers in high security or particularly vulnerable venues such as educational facilities and airports.

Security at educational facilities has been thrown into the spotlight in recent years following a number of highly publicized school shootings. Although this attention will increase security service revenues, particularly for integration and consulting, tight budgets and a strong reliance on public law enforcement will limit faster gains.

Study Coverage

This study presents historical demand data (2006, 2011, and 2016) and forecasts (2021) by service (guarding, alarm monitoring, private investigations, systems integration and management, cash-in-transit and related services, security consulting, pre-employment screening) and market (commercial, industrial, government, institutional, other nonresidential, residential). The study also evaluates company market share and competitive analysis on industry competitors including ADT, Allied Universal, APX Group (Vivint), Brink’s, G4S, Johnson Controls, Loomis, Monitronics, and Securitas.

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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Public Safety Environment

Types of Protection Services

Crime

Violent Crimes

Property Crimes

Terrorism

Other Nonconventional Crimes

Fire

Technological Environment

Systems Integrators & Security Consultants

Alarm Monitoring

Other Service Segments

Regulatory Environment

Security Guards

Alarm Monitoring

Private Investigators

Cash-in-Transit & Related Services

Pre-Employment Screening

Others

SERVICES

Key Findings

Revenue by Type

Guarding

Revenue Forecast

Impact of Technological Advances

Pre-Employment Screening

Training

Wages & Benefits

Applications

Traditional Services

Specialized Services

Vendors & Market Share

Alarm Monitoring Services

Revenue Forecast

Forecast by Service Type

Residential Intrusion & Fire

Nonresidential Intrusion & Fire

Personal Emergency Response Systems

Mobile PERS Technologies

Vendors Competition

Market Share

Private Investigation Services

Revenue Forecast

Vendors & Market Share

Systems Integration & Management

Revenue Forecast

Vendors

Cash-in-Transit & Related Services

Revenue Forecast

Traditional Armored Transport

ATM Management & Replenishment

Secured Logistics

Cash Management

Vendors & Market Share

Security Consulting

Revenue Forecast

Vendors

Pre-Employment Screening

Revenue Forecast

Ban-the-Box Trends

Regulations

Vendors

Other Security Services

Scope

Revenue Forecast

Airline Security

MARKETS

Key Findings

Revenue by Market

Nonresidential

Commercial

Commercial Offices & Office Buildings

Revenue Forecast

Demand by Service Type

Key End Users

Financial Institutions

Revenue Forecast

Demand by Service Type

Retail

Market Trends

Shrink

Demand by Service Type

Other Commercial

Revenue Forecast

Security Needs by End User

Industrial

Revenue Trends

Demand by Service Type

Demand by Market

Government

Scope

Market Forecast

Demand by Service Type

Institutional

Demand by Service Type

Demand by Market

Healthcare

Education

Other Institutional

Other Nonresidential

Scope

Revenue Forecast

Public Venues

All Other Nonresidential

Residential

Revenue Forecast

Residential Alarm Monitoring Trends

INDUSTRY STRUCTURE

Key Findings & Industry Composition

Industry Composition by Service

Guarding Firms

Alarm 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

Nonresidential

Residential

Mergers & Acquisitions

Cooperative Agreements

List of Industry Participants

APPENDIX

Scope

Methodology

Sources

Associations & Agencies

Related Freedonia Group Studies

Definitions

Abbreviations

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending Trends

Building Construction Outlook

Business Establishment Trends

Manufacturing Outlook

Service Sector Outlook

List of Tables

OVERVIEW

Table 2-1 | Public Safety Sector Employment, 2006 - 2015 (thousands)

Table 2-2 | Violent Crime Levels, 2006 - 2015 (thousands)

Table 2-3 | Property Crime Levels, 2006 - 2015 (thousands)

Table 2-4 | Incidences of Terrorism in the US, 2006 - 2015

Table 2-5 | Selected Other Nonconventional Crimes, 2006 - 2015 (thousand arrests)

Table 2-6 | Fire Levels & Losses, 2006 - 2015

SERVICES

Table 3-1 | Private Security Service Revenues, 2006 - 2021 (million dollars)

Table 3-2 | Security Guard Revenues, 2006 - 2021

Table 3-3 | Specialized Guard Offerings

Table 3-4 | Alarm Monitoring Service Revenues, 2006 - 2021 (million dollars)

Table 3-5 | Residential Intrusion & Fire Alarm Monitoring Market, 2006 - 2021

Table 3-6 | Nonresidential Alarm Monitoring Market, 2006 - 2021

Table 3-7 | Personal Emergency Response System Monitoring Market, 2006 - 2021

Table 3-8 | Private Investigation Revenues, 2006 - 2021

Table 3-9 | Examples of Private Investigative Services by Market

Table 3-10 | Systems Integration & Management Service Revenues, 2006 - 2021 (million dollars)

Table 3-11 | Cash-in-Transit & Related Service Revenues, 2006 - 2021 (million dollars)

Table 3-12 | Security Consulting Revenues, 2006 - 2021 (million dollars)

Table 3-13 | Pre-Employment Screening Service Revenues, 2006 - 202 (million dollars)

Table 3-14 | Other Security Service Revenues, 2006 - 2021 (million dollars)

MARKETS

Table 4-1 | Private Security Service Revenues by Market, 2006 - 2021 (million dollars)

Table 4-2 | Nonresidential Security Service Revenue by Market, 2006 - 202 (million dollars)

Table 4-3 | Commercial Security Service Revenues by Service & Sector, 2006 - 2021 (million dollars)

Table 4-4 | Commercial Offices & Office Buildings Security Service Revenues 2006 - 2021 (million dollars)

Table 4-5 | Financial Institutions Security Service Revenues, 2006 - 202 (million dollars)

Table 4-6 | Retail Security Service Revenues, 2006 - 2021 (million dollars)

Table 4-7 | Other Commercial Security Service Revenues, 2006 - 202 (million dollars)

Table 4-8 | Industrial Security Service Revenues by Service & Market, 2006 - 2021 (million dollars)

Table 4-9 | Government Security Service Revenues, 2006 - 2021 (million dollars)

Table 4-10 | Institutional Security Service Revenues by Service & Market, 2006 - 2021 (million dollars)

Table 4-11 | Other Nonresidential Security Service Revenues by Service & Market, 2006 - 2021 (million dollars)

Table 4-12 | Residential Security Service Revenues, 2006 - 2021 (million dollars)

INDUSTRY STRUCTURE

Table 5-1 | Private Security Service Revenues by Company, 2016

Table 5-2 | Key Competitive Strategies Utilized by Private Security Service Providers

Table 5-3 | Selected Acquisitions & Divestitures

Table 5-4 | Selected Cooperative Agreements

APPENDIX

Table 6-1 | Study Scope: Private Security Services

Table 6-2 | Relevant NAICS Codes (2012)

Table 6-3 | Abbreviations & Acronyms Used in Study

Table 6-4 | Macroeconomic Indicators, 2006 - 2021 (billion 2009 dollars)

Table 6-5 | Population & Households, 2006 - 2021 (million persons)

Table 6-6 | Personal Consumption Expenditures, 2006 - 2021 (billion dollars)

Table 6-7 | Building Construction Expenditures, 2006 - 2021 (billion dollars)

Table 6-8 | Business Establishments, 2006 - 2021 (thousands)

Table 6-9 | Manufacturers' Shipments, 2006 - 2021 (billion dollars)

Table 6-10 | Service Sector Outlook, 2006 - 2021 (billion dollars)

List of Charts

EXECUTIVE SUMMARY

Figure 1-1 | US Private Security Service Market

OVERVIEW

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

Figure 2-2 | US Crime Rates, 2006 - 2015 (reported crimes per thousand people)

SERVICES

Figure 3-1 | Key Private Security Service Trends by Type

Figure 3-2 | State-Wide Guard Background Check Requirements

Figure 3-3 | State-Wide Guard Training Requirements

Figure 3-4 | Primary Guarding Applications

Figure 3-5 | Security Guard Market Share, 2016

Figure 3-6 | Alarm Monitoring Service Revenues & Spending Against GDP, 2006 - 2021

Figure 3-7 | Residential Alarm Monitoring Revenues & Share of Households with Subscriptions, 2006 - 2021

Figure 3-8 | Nonresidential Alarm Monitoring Revenues & Subscriptions, 2006 - 2021

Figure 3-9 | PERS Alarm Monitoring Revenues & Contracts, 2006 - 2021

Figure 3-10 | Alarm Monitoring Service Market Share, 2016

Figure 3-11 | Types of Systems Commonly Integrated

Figure 3-12 | Armored Transport Spending per Banking & Credit Office, 2006 - 2021

Figure 3-13 | Cash-in-Transit & Related Services Market Share, 2016

Figure 3-14 | Types of Security Consulting Services

Figure 3-15 | Pre-Employment Screening per Civilian Employee, 2006 - 2021

MARKETS

Figure 4-1 | Key Private Security Service Trends by Market

Figure 4-2 | Security Spending in Commercial Offices & Office Buildings, 2006 - 2021

Figure 4-3 | Security Service Spending per Banking & Credit Office, 2006 - 2021

Figure 4-4 | Healthcare Facilities & Spending per Facility, 2006 - 2021

Figure 4-5 | Education Facilities & Spending Per Facility, 2006 - 2021

INDUSTRY STRUCTURE

Figure 5-1 | US Private Security Service Market Share, 2016

Figure 5-2 | Private Security Service Market Leader: First Leading Provider

Figure 5-3 | Private Security Service Market Leader: Second Leading Provider

Figure 5-4 | Private Security Service Market Leader: Third Leading Provider

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

Figure 5-6 | Private Security Service Market Leader: Fifth Leading Provider

APPENDIX

Figure 6-1 | Annual Growth in Real GDP, 2000 - 2016, Compared to 1980 - 2005 Average (percent)

Figure 6-2 | Annual Population Growth, 2001 - 2016 (percent)

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Private Security Services in the US by Service and Market, 15th Edition

Key Findings in the Private Security Services Study:

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