Private Security Services to 2019

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Date: 31-May-2015
No. of pages: 412
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US demand to rise nearly 5% annually through 2019

Demand for US private security services is projected to expand nearly five percent per year through 2019 to approximately $68 billion. Gains will be supported by accelerating economic activity, particularly as new businesses form and existing companies continue to loosen their corporate budgets. Revenues will benefit from a strong rebound in new nonresidential construction and a continuing recovery in residential construction activity, as well as major improvement and renovation projects, as most major changes to security service spending occur during these times. Demand will also be aided by ongoing real and perceived concerns about crime. The usage of contracted security is supported by the regulatory burden of fielding an in-house security force as well as the fact that security, while important, is not a core competency for most businesses.

Alarm monitoring to gain market share

Technological innovations in the security industry complement and compete with various types of security services. For instance, heightened interest in digital video surveillance and related analytics, coupled with plans to integrate alarms into smart home and facility management functions, drives demand for services such as systems integration, security consulting, and alarm monitoring. Alarm monitoring will account for nearly one-third of security service spending in 2019, benefiting from an expected re-bound in new construction, particularly in the large nonresidential market, as well as the addition of more advanced services such as voice response and video monitoring. In addition, rapid growth in the smaller personal emergency response system (PERS) segment will be spurred by the aging population and interest in aging in place, as well as the development of mobile monitoring and other service options that are fueling monthly contract rates.

Guarding services to remain largest segment

Guarding services accounted for the largest share of revenues in 2014 and will continue to do so through 2019. Even in an increasingly technological environment, conventional manned services are still necessary to monitor the equipment and provide a deterrent effect and an immediate response to an event. Gains will be supported by increasing use of highly trained guards who can work with more advanced security systems, as well as growing usage of private guards in locations such as government buildings and schools, hospitals, and other institutional facilities that have historically been more likely to utilize in-house guards.

Systems integration, security consulting to pace key nonresidential market

The nonresidential market accounts for the vast majority of private security services revenues, with growth in the economy, new business creation, and loosening budgets all contributing to gains. Within the nonresidential market, guarding accounts for nearly half of all private security service spending; how-ever, less mature services such as systems integration and security consulting will register more rapid gains through 2019. In contrast to the nonresidential market, residential demand is dominated by alarm monitoring, particularly intrusion and fire alarm monitoring; however, demand for PERS alarm monitoring a niche segment is expected to double during the 2014-2019 period.

Company Profiles

Profiles 35 companies such as AlliedBarton Security Services, ADT, Brink’s, CCA, CEO Group, G4S, Securitas & Tyco International

Additional Information

This study analyzes the US private contracted security service industry. Services covered include guarding services, central station alarm monitoring (including personal emergency response services), private investigative services, private correctional facility management, systems integration services, armored transport services (including ATM management and related cash handling services), security consulting, preemployment screening, and other miscellaneous security services (e.g., bomb and metal sweeping, renting of offsite secure vaults, airport security, and many others). Excluded are public safety personnel (e.g., police officers, public corrections officers, federal agents, and fire fighters) and in-house, proprietary security services, such as guards, detectives, and off-duty police officers on the paid staff of (non-security) business establishments. Also excluded are equipment installation services (aside from systems integration), locksmith activities, and security products distribution and sales.

Historical data (2004, 2009, and 2014) and forecasts for 2019 and 2024 are provided for revenues by type of service, end-use market, geographic region, and selected major metropolitan area. Historical and forecast data are also given for security service employment by service segment. The study’s market base consists of all security service establishments physically located in the US. Given the nature of the topic, special emphasis is placed on the demographic and socioeconomic factors influencing the incidence of crime and fire, and thus the market for security services. Geographic differences in these variables are also emphasized. In addition, major industry participants are identified and profiled, and key competitive variables are discussed.

Private Security Services to 2019

Table of Contents

Introduction XI

I. Executive Summary 1

II. Market Environment 4
General 4
Demographic & Social Environment 6
Demographic Trends 6
Employment Outlook 10
Macroeconomic Environment 12
Consumer Spending Trends 18
Building Construction Outlook 21
Business Establishment Trends 24
Manufacturing Outlook 27
Retail Sales Outlook 32
Service Sector Outlook 35
Public Safety Environment 39
Crime 43
Violent Crimes 45
Property Crimes 47
Terrorism & Other Nonconventional Crimes 50
Terrorism 51
Other Nonconventional Crimes 53
Adult Inmate Trends 55
Fire 59
Technological Environment 63
Regulatory Environment 68
Security Guards 68
Alarm Monitoring 70
Private Investigators 72
Correctional Facility Management 73
Armored Transport 74
Pre-Employment Screening 74
Others 75
World Market 75

III. Services 78
General 78
Guarding 81
Market Trends 86
Pre-Employment Screening 86
Training 87
Wages & Benefits 89
Applications 92
Vendors & Market Share 94
Alarm Monitoring Services 96
Residential Intrusion & Fire 101
Market Trends 104
Market Threats 106
Nonresidential 109
Personal Emergency Response System 112
Vendors & Market Share 116
Competition 117
Leading Vendors 118
Private Investigation Services 119
Market Trends 121
Vendors 124
Correctional Facility Management 125
Market Trends 129
Market Threats 131
Vendors & Market Share 134
Systems Integration & Management 138
Services & Technologies 141
Vendors 143
Armored Transport Services 144
Traditional Armored Transport 145
ATM Servicing & Other 148
ATMs 149
Other Services 150
Vendors & Market Share 151
Security Consulting 153
Services 155
Vendors 157
Pre-Employment Screening 158
Market Trends 162
Vendors 165
Other Security Services 167

IV. Markets 171
General 171
Nonresidential 174
Commercial 177
Commercial Offices & Office Buildings 180
Financial Institutions 185
Retail 188
Other Commercial 191
Government 194
Industrial 197
Manufacturing Facilities 199
Warehouses 202
Institutional 203
Healthcare Facilities 207
Schools 210
Other Institutional Markets 214
Other Nonresidential Markets 215
Public Venues 216
All Other 218
Residential 220
Alarm Monitoring 222
Guarding & Other Services 225

V. Regional Markets 227
General 227
Regional Demographic & Economic Trends 227
Population Patterns 228
Economic Outlook 231
Construction Activity 233
Public Safety Trends 236
Regional Crime Rates 237
Local Crime Trends 239
Fire Trends 242
Regional Private Security Service Overview 243
Northeast 247
Market Outlook 249
New England 251
Middle Atlantic 252
Midwest 254
Market Outlook 255
East North Central 257
West North Central 259
South 260
Market Outlook 262
South Atlantic 263
East South Central 265
West South Central 267
West 269
Market Outlook 270
Mountain 272
Pacific 274
Major Metropolitan Areas 276
Correctional Facility Management 281

VI. Industry Structure 284
General 284
Industry Composition 284
Guarding Firms 289
Alarm Monitoring Firms 290
Private Investigation Firms 291
Correctional Facility Management Firms 291
Armored Transport Firms 292
Security Systems Integration Firms 292
Security Consulting Firms 292
Pre-Employment Screening Firms 293
Market Share 294
Competitive Strategies 298
Marketing 300
Nonresidential 300
Residential 302
Mergers & Acquisitions 304
Cooperative Agreements 314
Company Profiles 318
ABM Industries Incorporated 319
Accuity Holdings, see RELX Group
ADT Corporation 321
Akal Security Incorporated 323
AlliedBarton Security Services LLC 325
Altegrity Incorporated 327
APX Group Holdings Incorporated 330
Armstrong Group 332
Automatic Data Processing Incorporated 333
BI, see GEO Group
Brink’s Company 334
Centerra Group LLC 336
Coastal International Security, see Akal Security Correctional Alternatives, see Corrections Corporation of America Corrections Corporation of America 338
Day & Zimmermann Group Incorporated 342
Diebold Incorporated 343
Diversco Integrated Services, see ABM Industries Doyon-Akal JV, see Akal Security Dunbar Companies 345
Garda World Security Corporation 348
GEO Group Incorporated 349
G4S plc 354
Gregg Protection Services, see Centerra Group Guardian Protection Services, see Armstrong Group Guardsmark LLC 358
HireRight, see Altegrity Honeywell International Incorporated 360
Inter-Con Security Systems Incorporated 362
Johnson Controls Incorporated 363
Kroll, see Altegrity Loomis AB 365
Management & Training Corporation 367
Monitronics International Incorporated 368
Pacific Security Integrations, see Protection One Paragon Systems, see Securitas Philips Lifeline, see Royal Philips Electronics Pinkerton Consulting & Investigations, see Securitas Protection One Incorporated 370
Red Hawk Fire and Security US 373
Reed Elsevier Group, see RELX Group RELX Group plc 374
Royal Philips NV 377
Securitas AB 379
Security Networks, see Monitronics International Siemens AG 383
SimplexGrinnell, see Tyco International Slomin’s Incorporated 384
Software House, see Tyco International Sonitrol, see Stanley Black & Decker Stanley Black & Decker Incorporated 386
TransCor America, see Corrections Corporation of America Tyco International plc 388
Universal Services of America LP 392
US Security Associates Incorporated 396
Vector Security Incorporated 398
VIA MAT Holding, see Loomis Vintage Security, see Protection One Visonic, see Tyco International Westfire, see Tyco International WorldCompliance, see RELX GroupOther Companies Mentioned In This Study 400

List of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 Population & Households 10
2 Employment Outlook 12
3 Macroeconomic Indicators 18
4 Personal Consumption Expenditures 21
5 Building Construction Expenditures 23
6 Business Establishments 27
7 Manufacturers’ Shipments 31
8 Retail Sales 35
9 Service Income 38
10 Public Safety Sector Employment, 2004-2013 42
11 Violent Crime Levels, 2004-2013 47
12 Property Crime Levels, 2004-2013 50
13 Incidences of Terrorism in the US, 2004-2013 53
14 Selected Other Nonconventional Crimes, 2004-2013 54
15 Adult Inmate Population 59
16 Fire Levels & Losses, 2004-2013 63

Section III -- Services
1 Private Security Service Revenues 80
2 Security Guard Revenues 85
3 Alarm Monitoring Service Revenues 100
4 Residential Intrusion & Fire Alarm Monitoring Market 104
5 Nonresidential Alarm Monitoring Market 112
6 Personal Emergency Response System Monitoring Market 116
7 Private Investigation Revenues 121
8 Correctional Facility Management Revenues 129
9 Selected Correctional Facility Management Contract Agreements 136
10 Systems Integration & Management Service Revenues 141
11 Armored Transport Service Revenues 145
12 Security Consulting Revenues 155
13 Pre-Employment Screening Service Revenues 162
14 Other Security Service Revenues 170

Section IV -- Markets
1 Private Security Service Revenues by Market 173
2 Nonresidential Security Service Revenues by Market 176
3 Commercial Security Service Revenues by Service & Sector 180
4 Commercial Offices & Office Buildings Security Service Revenues 184
5 Financial Institutions Security Service Revenues 187
6 Retail Security Service Revenues 190
7 Other Commercial Security Service Revenues 193
8 Government Security Service Revenues 197
9 Industrial Security Service Revenues by Service & Market 199
10 Institutional Security Service Revenues by Service & Market 207
11 Higher Education Campus Crime Levels, 2004-2013 213
12 Other Nonresidential Security Service Revenues by Service & Market 216
13 Residential Security Service Revenues 222

Section V -- Regional Markets
1 Population by Region 230
2 Gross Domestic Product by Region 233
3 Construction Expenditures by Region 236
4 Crimes Rates by Region, 2004-2013 238
5 Reported Crimes & Crime Rates by Type of Area, 2004-2013 241
6 Regional Fire Overview, 2014 243
7 Private Security Service Market by Region 246
8 Northeast Security Market Profile, 2014 248
9 Northeast Security Service Revenues by Subregion 250
10 Midwest Security Service Market Profile, 2014 255
11 Midwest Security Service Revenues by Subregion 257
12 South Security Service Market Profile, 2014 261
13 South Security Service Revenues by Subregion 263
14 West Security Service Market Profile, 2014 270
15 West Security Service Revenues by Subregion 271
16 Private Security Service Market Profile by Selected Major Metropolitan Areas, 2014 279
17 Private Security Service Revenues by Selected Major Metropolitan Areas 280

Section VI -- Industry Structure
1 Private Security Service Revenues by Company, 2014 288
2 Selected Acquisitions & Divestitures 309
3 Selected Cooperative Agreements 317

List of Charts

Section II -- Market Environment
1 Safety Sector Employment, 2014 43
2 US Crime Rates, 2004-2013 45
3 World Security Service Market, 2014 77

Section III -- Services
1 Security Service Revenues by Types of Service, 2014 81
2 Security Guard Market Share, 2014 96
3 Alarm Monitoring Revenues by Market, 2014 100
4 Alarm Monitoring Market Share, 2014 119
5 Correctional Facility Management Market Share, 2014 135
6 Armored Transport Service Market Share, 2014 152

Section IV -- Markets
1 Private Security Service Revenues by Market, 2004-2024 173
2 Nonresidential Security Service Revenues by Market, 2014 177

Section V -- Regional Markets
1 Crime Rates by Region, 2004-2013 239
2 Private Security Service Market by Region, 2014 247
3 Percent of State & Federal Inmates Held Under Private Correctional Facility Management Contracts by Sub region, 2014 283

Section VI -- Industry Structure
1 Private Security Service Market Share, 2014 295

  • Private Security Services to 2019
    Published: 31-May-2015        Price: US 5400 Onwards        Pages: 412
    US demand to rise nearly 5% annually through 2019 Demand for US private security services is projected to expand nearly five percent per year through 2019 to approximately $68 billion. Gains will be supported by accelerating economic activity, particularly as new businesses form and existing companies continue to loosen their corporate budgets. Revenues will benefit from a strong rebound in new nonresidential construction and a continuing recovery in residential construction ......
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