The security market and trends

There are nine major shits impacting the future market:

• Rising conflict levels
• Disrupted data and technology adoption
• Increasing wealth disparity and higher wage inflation
• Security becomes a higher priority for companies
• More sophisticated buying of end-to-end security solutions
• Shift towards technology and data-led security solutions
• Increased competition from non-traditional security providers
• Accelerated sustainability focus
• Stricter regulation on data and technology use

Macro drivers

Overall demand for security services is growing with few specific drivers impacting the market.

Political

• Higher political volatility and conflicts

Economic

• Higher wage-inflation
• Organized security services in emerging markets
• Higher urbanization
• Shortage of new skilled security officers and cybersecurity professionals

Social

• Increasing criminal activities
• Public law enforcement upgrading to technology-enabled security services
• Increased remote and hybrid working

Technological

• Rising interlinkages between physical and cyber security
• Increasingly sophisticated cyber-attacks and increasing attack surface

Environmental

• Rising interlinkages between physical and cyber security
• Increasingly sophisticated cyber-attacks and increasing attack surface

Legal

• Stringent regulations on data privacy
• Higher demand for private security
• High M&A activity

Client needs

Evolving client needs driving higher growth for an integrated security solutions portfolio and responding to a broader range of physical and non-physical threats.

• Predict
  • Anticipate potential threats and vulnerabilities
• Prevent
  • Pre-emptive measures to eliminate security risks
• Deter
  • Systems to discourage potential attacks, 24/7 monitoring
• Detect
  • Predict and identify incidents and breaches
• Delay
  • Hinder progress of an attack and its impact
• Respond
  • Act quickly in response to a security incident
• Recover
  • Bring back normality after a security event

Security market trends

• Technology-driven security
  • Use of robots, cloud-based security service models, edge computing for video surveillance, mobile surveillance units, use of drones and anti-drones, body cameras and other wearable technologies, biometric technology
• Data-led applications
  • Use of machine learning, AI and predictive analytics, shared security services such as SOC as-a-service
• Security across client value chain
  • Supply chain security, zero-trust architecture, IoT security, blockchain in security
• Vertical integration of offerings
  • Integrated security services
• Employee experience and productivity
  • Optimizing security officer deployment, investments in training and development, virtual security consultations, digital reporting for security officers for higher productivity
• Others
  • Regionalization - tailored solutions addressing localized threats, regulatory compliance, cultural understanding etc.
  • Shift from reactive to proactive security
  • Increased focus on client experience
  • Increasing specialization e.g. for a specific industry or client group