Forces that Drive Demand for Security Services

As the global development pace accelerates, the security industry needs to adapt changing patterns, for example through increased use of electronic security.

The most significant forces that drive demand for security services are:

  • Increased vulnerability and escalating costs of disruptions: Sophisticated production processes are highly sensitive to disruptions, creating growing demand for security solutions in both the private and public domain.
  • Real and perceived risk of crime is an important driver underlying the demand of security services. Although reported rates for certain crimes are falling in many countries, there is currently a widespread perception that crime is on the rise, which is boosting the demand for security solutions.
  • Previously insources security is increasingly being handed over to private sector security companies due to limited resources in the public sector and, in some cases, to open the market to competition due to political decisions. An added value is also the private security companies' risk and security expertise.
  • Rising levels of economic activity and prosperity in developing regions are resulting in more facilities, places of business and homes requiring security, and more people, businesses and governments that can afford to buy security solutions.
  • Global urbanization is leading to denser populations, widening socioeconomic inequalities and rising crime rates, thereby creating a need for additional security services.
  • Infrastructural development is resulting in demand for qualified security solutions and services for growing public transportation systems and public property.
  • Heightened levels of tension across the globe, with social and political unrest. Natural disasters, terrorism and political instability are boosting the need for flexible and efficient security solutions.

Click here to read more about opportunities for growth the Annual Report 2017

 

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