Jump Projected in Demand for Private Security Services

The private security industry is expected to experience a five percent increase in demand by 2019.

Demand for private security services continues to grow.

The business is expected to expand to approximately $68 billion through 2019 in the United States, constituting a five percent jump in demand, according to a September 14 Report Buyer market forecast.

The report projects the growth based on accelerated economic activity as new businesses form and corporate budgets are loosened at existing companies.

Security service spending changes significantly during new nonresidential construction and the recovery of residential construction activity. Ongoing concerns about crime – real or perceived – also add to the demand.

Guard services will remain the largest share of revenue through 2019, just as they were in 2014.

Meanwhile, alarm monitoring will account for roughly one-third of security service spending in 2019. Heightened interest in digital video surveillance drives demand for systems integration, security consulting and alarm monitoring.

Systems integration and security consulting are also projected to have rapid gains through 2019.

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