The Global Manned Guarding Services Market is projected to garner exponential accruals and prominence over the review period due to the increasing terrorist activities and threats worldwide, states Market Research Future (MRFR) in its recently published study report. MRFR estimates that the Global Manned Guarding Services Market is projected to reach USD 7,190.2 million by 2023, registering 6.44% CAGR during the assessment period (2018-2023).
Technological advancements in weapons and the rising demand for effective technology-based products is anticipated to boost the market size of manned guarding services market. Additional factors boosting the market growth include the increasing demand for tough security measures at borders near nations.
The market for manned guarding services grew with the IT revolutions. The technological advancements are contributing to the development of cost-effective security systems which boosts the manned guarding services market.
These have given rise to the security services and demand for private security services from CCTV monitoring to proximity bodyguarding is on the rise. Furthermore, ever-increasing population worldwide, rapid urbanization, industrialization, and improving economic conditions are some of the key factors substantiating the market growth.
On the other hand, the combination of logical and physical components of security is a challenge faced by the manned guarding services market. Nevertheless, the integration of high-end equipment such as CCTV cameras with skilled technicians, and the growing gated communities are some of the factors expected to support market growth during the forecasted period.
Global Manned Guarding Services Market – Segments:
MRFR has segmented the analysis into three key dynamics; for better understanding: -
Global Manned Guarding Services Market – Competitive Analysis
The highly competitive manned guarding services market is totally dependent on the sales of automobiles. The market appears fragmented owing to the presence of numerous large and small-scale players accounting for a substantial market share. Well-established players rely on acquisitions, collaborations, partnerships, and new technology launches in order to gain competitive advantage and maintain their positions in this market.
On the sales side, companies are investing in brand building and fostering strong relationships with customers to support their competitive position. These service providers strive to develop a unique add-on service with unrivaled features. International players are entering the emerging markets of developing economies such as India/China market to tap the growing opportunity.
Key Players:
Fervent players driving the manned guarding services market include Transguard Group, China Security & Protection Group Co. Ltd., SIS International S.R.L, G4S plc, OCS Group Ltd., Axis Group Integrated Services Ltd., Andrews International Inc., ICTS Europe S.A., Securitas AB, U.S. Security Associates Inc., Tops Security Limited, and Allied Universal.
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