Opportunity for growth
The global security services market is projected to continue to grow, even though the world economy has been negatively impacted by the pandemic and the outlook remains uncertain.
In developed markets, such as the US and Western Europe, the growth potential lies in offering a full range of security services, including technology, that can be bundled into customized solutions. Global security service revenues are expected to grow annually and reach BUSD 263 in 2024, of which the security systems integration market is expected to account for BUSD 12.
The strongest overall growth is forecast in developing markets, with China and India as the main drivers. While the majority of this growth will come from guarding services, alarm monitoring is expected to increase rapidly as, for example, many commercial buildings implement modern security technology.
Global trends impacting security needs
The factors driving growth can vary depending on how developed a market is. We have identified a number of trends that are impacting our global business as well as the opportunities arising from them. Thanks to our strategy and protective services offering, we are well prepared to respond to these trends:
