Lucrative legislation: The government's Protect Duty will fuel the need for private security
Over the five years through 2023-24, revenue is expected to increase at a compound annual rate of 0.8% to £8.8 billion. Private security services have benefitted from public sector organisations outsourcing more security functions to private sector contractors because of low police officer numbers. Although the government has scaled up police funding and recruitment, stretched public sector resources have necessitated a continued transfer of security functions from the public sector to private security services.
Operators in this industry provide guard and patrol services, armoured car services, and polygraph and finger print services. They also pick up and deliver money, and offer security shredding of information on any media. The industry excludes public order and safety activities.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- MITIE Security Limited
Methodology
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