The global physical security services market attained a value of USD 357.30 Billion in 2024. The industry is expected to grow at a CAGR of 6.00% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 639.87 Billion.
The demand of physical security services market is driven by the increase in crime rates, social unrest within countries, and rising terrorism. The rising social insecurity is prompting the buyers to be more proactive in securing their premises, further augmenting the global market. Moreover, to curb these rising problems, there has been massive innovation in the security services lately. Smart technology is currently being used for monitoring and managing security workforces. Real-time incident reporting and GPS tracking have led to significant advances in employee accountability while integrating apps with employee’s smartphones have led to improved communication and efficiency.
Improvements have also been made to security devices like access control and CCTVs, which now come with features like Bluetooth-enabled access control and 360-degree view. These technological advancements are expected to increase the physical security services market value in the coming years.
The increasing digital transformation to effectively predict and mitigate threats is propelling the physical security services market development. Physical security service providers are increasingly leveraging various technologies to enhance their operational efficiency and reduce operating costs. With the growing adoption of the Internet of things (IoT) and cloud connectivity, physical security services can process data to deliver meaningful insights and enhance operational decision-making.
Cash solutions, such as cash-in-transit and cash management services, remain a vital segment in the physical security services market, for industries handling large volumes of cash, like banking, retail, and casinos. With the increasing security concerns around transporting and storing cash, businesses are seeking more secure and efficient solutions. The market for cash solutions continues to evolve as companies adopt secure digital alternatives, though traditional services remain critical for sectors reliant on physical cash handling.
Industrial segment includes manufacturing, mining, construction, and other industrial sectors that require physical security services to protect their assets, equipment, personnel, and data from theft, vandalism, sabotage, or natural disasters. The industrial segment is expected to witness a high demand for physical security services due to the increasing automation and digitisation of the industrial processes. Moreover, the rising awareness of the social impacts of industrial activities is also driving the need for physical security services to comply with the regulatory standards.
Additionally, the demand for security may rise in Middle East and Africa due to the increasing geopolitical instability, civil wars, and terrorist activities in countries, such as Iraq, Syria, Yemen, and Libya. The need for securing critical infrastructure, such as oil and gas pipelines, airports, and power plants, in this region is also propelling the physical security services market growth.
Additionally, these companies are expanding their global presence through strategic acquisitions and partnerships. By acquiring specialized firms and collaborating with technology providers, they aim to diversify their service portfolios and enter new markets. This approach allows them to leverage local expertise and address region-specific security challenges effectively. Such strategic moves are designed to strengthen their competitive position and meet the evolving demands of the physical security landscape.
Other key players in the physical security services market report are Securiguard Services Ltd., Allied Universal Security Services, and The Brink’s Company, among others.
The demand of physical security services market is driven by the increase in crime rates, social unrest within countries, and rising terrorism. The rising social insecurity is prompting the buyers to be more proactive in securing their premises, further augmenting the global market. Moreover, to curb these rising problems, there has been massive innovation in the security services lately. Smart technology is currently being used for monitoring and managing security workforces. Real-time incident reporting and GPS tracking have led to significant advances in employee accountability while integrating apps with employee’s smartphones have led to improved communication and efficiency.
Improvements have also been made to security devices like access control and CCTVs, which now come with features like Bluetooth-enabled access control and 360-degree view. These technological advancements are expected to increase the physical security services market value in the coming years.
The increasing digital transformation to effectively predict and mitigate threats is propelling the physical security services market development. Physical security service providers are increasingly leveraging various technologies to enhance their operational efficiency and reduce operating costs. With the growing adoption of the Internet of things (IoT) and cloud connectivity, physical security services can process data to deliver meaningful insights and enhance operational decision-making.
Key Trends and Recent Developments
November 2023
GardaWorld Security Corporation, a global leader in security services, integrated risk management and cash solutions, announced that the Canadian Air Transport Security Authority (CATSA) had contracted with the company for security screening services, including passengers, airport workers, air crew, and baggage across Canada.July 2023
Securitas AB expanded its global contract with Microsoft to strengthen its technology-based solutions. The agreement, effective from July 1, 2023, reflects Securitas’ commitment to mutual success. With shared values centred on trust, ethics, and sustainability, Securitas builds on a stable foundation for providing exceptional services while promoting a secure and inclusive environment.April 2023
Allied Universal®, the leading security and facility services company, and MSA Security®, an Allied Universal company, announced the strategic expansion of services in the Las Vegas region with the acquisition of Elite Tactical Security Solutions. With this acquisition, security guarding and executive protection services will be managed by Allied Universal’s portfolio of solutions and the canine services will be incorporated into the MSA Security program.July 2022
Securitas announced it had signed an agreement to acquire the Electronic Security Solutions business from Stanley Black & Decker Inc. This strategic acquisition, combined with efficient business transformation programs, enable Securitas’ ambition to emerge as an exceptional player in the security industry.Rising demand for cloud-based security solutions
Cloud-based security solutions offer remote access, scalability, and cost-efficiency for customers and service providers, which can boost physical security services market growth and competitiveness. Cloud-based security solutions reduce the need for extensive on-premises infrastructure, leading to lower capital expenditures and operational costs for businesses. Cloud-based systems allow security personnel and managers to monitor and manage security operations remotely, providing flexibility and responsiveness.Increasing adoption of IoT and smart devices
IoT and smart devices generate more data sources and endpoints for security monitoring, which can enhance the situational awareness and responsiveness of security services. These technologies facilitate data analysis and decision-making processes, enhancing overall security effectiveness. Companies like Motorola Solutions are enhancing their security offerings by acquiring smart sensor companies. As per the physical security services market report, in December 2023, Motorola acquired IPVideo, a New York-based smart sensor company known for its HALO Smart Sensor, which monitors air quality and detects anomalies such as gunshots and motion.Growing integration of AI and machine learning (ML)
AI and machine learning (ML) can improve the capabilities and efficiency of security systems and services by enabling automated detection, classification, and prediction of security events and anomalies. AI and ML are enabling video management systems to offer sophisticated analytics, such as facial recognition, anomaly detection, and behavioral analysis, which significantly improve security effectiveness. Thereby supporting the physical security services market development. Advanced algorithms and machine learning techniques are being incorporated into biometric solutions, allowing them to continuously evolve and adapt to the ever-changing security landscape.Expanding use of biometric authentication and identification in offices
Biometric authentication and identification can improve the accuracy of security verification and access control by using unique and hard-to-forge physical or behavioural characteristics of employees. According to HID Global's 2024 State of Physical Access Control Report, the adoption of biometrics for physical access control has risen from 30% to 39% over the past two years. Additionally, 23% of surveyed organizations identified biometrics as a top technology trend influencing the access control industry. Companies like Precise Biometrics are expanding their offerings to include biometric visitor management systems, integrating fingerprint, facial, and palm recognition technologies to streamline access and enhance security protocols.Global Physical Security Services Industry Segmentation
The report titled “Global Physical Security Services Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Services
- Manned Guarding
- Electronic Security
- Cash Solution
- Others
Market Breakup by End Use
- Industrial
- Energy Utility
- Commercial
- Retail
- Government
- BFSI
- Airports
- Others
Market Breakup by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Global Physical Security Services Market Share
Growth of Electronic Security and Cash Solutions in the Physical Security Services Market
Electronic security services, which include surveillance cameras, alarm systems, and access control systems, are rapidly gaining importance due to advancements in technology. Businesses and residential complexes increasingly rely on these systems to provide continuous monitoring and real-time threat alerts. As the demand for smart buildings and integrated security systems rises, electronic security is expected to see significant expansion, especially with innovations like AI-powered surveillance and automated response systems.Cash solutions, such as cash-in-transit and cash management services, remain a vital segment in the physical security services market, for industries handling large volumes of cash, like banking, retail, and casinos. With the increasing security concerns around transporting and storing cash, businesses are seeking more secure and efficient solutions. The market for cash solutions continues to evolve as companies adopt secure digital alternatives, though traditional services remain critical for sectors reliant on physical cash handling.
Rising Demand for Physical Security Services in Retail and Industrial Sectors
Retail segment includes the shopping malls, supermarkets, department stores, and other retail outlets that need physical security services to prevent shoplifting, robbery, inventory shrinkage, and employee theft. The physical security services market estimates that the retail segment is likely to use a varied security services due to the increasing consumer spending, the proliferation of online and offline retail channels, and the growing competition among the retailers.Industrial segment includes manufacturing, mining, construction, and other industrial sectors that require physical security services to protect their assets, equipment, personnel, and data from theft, vandalism, sabotage, or natural disasters. The industrial segment is expected to witness a high demand for physical security services due to the increasing automation and digitisation of the industrial processes. Moreover, the rising awareness of the social impacts of industrial activities is also driving the need for physical security services to comply with the regulatory standards.
Global Physical Security Services Market Regional Analysis
Rapid Growth of Physical Security Services in Asia-Pacific and the Middle East & Africa
Asia-Pacific physical security services market is projected to witness the fastest growth rate due to the rapid industrialisation and economic development in countries, such as China, India, Japan, and Australia. The rising security threats, such as terrorism, cyberattacks, and civil unrest, in this region are also boosting the demand for physical security services. Additionally, the growing investments in smart city projects, infrastructure development, and public safety initiatives in this region are creating lucrative opportunities for the market players.Additionally, the demand for security may rise in Middle East and Africa due to the increasing geopolitical instability, civil wars, and terrorist activities in countries, such as Iraq, Syria, Yemen, and Libya. The need for securing critical infrastructure, such as oil and gas pipelines, airports, and power plants, in this region is also propelling the physical security services market growth.
Competitive Landscape
Key players in the physical security services market are increasingly integrating advanced technologies to enhance service offerings. They are adopting cloud-based platforms, AI-driven analytics, and biometric authentication to provide scalable, real-time, and data-driven security solutions. This technological integration aims to streamline operations, improve threat detection, and offer more personalized security measures to clients across various sectors.Additionally, these companies are expanding their global presence through strategic acquisitions and partnerships. By acquiring specialized firms and collaborating with technology providers, they aim to diversify their service portfolios and enter new markets. This approach allows them to leverage local expertise and address region-specific security challenges effectively. Such strategic moves are designed to strengthen their competitive position and meet the evolving demands of the physical security landscape.
Securitas AB
Securitas AB, headquartered in Sweden, is a leading global security services provider, offering a range of solutions including on-site guarding, remote monitoring, and electronic security systems. The company operates across various sectors such as banking, retail, and industrial, focusing on customized security services to address the unique needs of its clients. Securitas is known for its strong technological integration in security services.GardaWorld Security Corporation
GardaWorld Security Corporation, headquartered in Canada, is one of the world’s largest privately owned security companies, providing services like risk management, armored transportation, and security personnel services. With operations in over 45 countries, GardaWorld focuses on delivering tailored security solutions for businesses, government organizations, and NGOs, leveraging both human expertise and advanced technology for comprehensive protection.Brinks Security Services Limited
Brinks Security Services Limited, a subsidiary of the Brinks Company, is renowned for its secure logistics and cash management solutions. Headquartered in the United States, the company specializes in armored transportation, secure vaulting, and cash-in-transit services. It serves industries such as banking, retail, and government, offering both physical and digital security systems, and is recognized for its global reach and innovation in financial security solutions.Agile Security Force
Agile Security Force, with its headquarters in India, is a security services provider focused on delivering highly trained personnel and advanced technology solutions for both private and public sector clients. The company specializes in security consultancy, physical guarding, and integrated security systems. Agile is known for its flexible approach and responsiveness to clients' changing security needs, emphasizing proactive risk management and operational efficiency.Other key players in the physical security services market report are Securiguard Services Ltd., Allied Universal Security Services, and The Brink’s Company, among others.
Key Features of the Physical Security Services Market Report:
- Comprehensive analysis of market trends, growth drivers, and challenges from 2025-2034
- Market segmentation by services, end use, and region, with growth projections
- Quantitative insights on market size, value, and volume by region and application
- Competitive landscape featuring key players, market shares, and strategic developments
- Detailed analysis of consumer behavior and demand shifts in physical security services
- Examination of emerging technologies shaping the future of physical security
- Trusted provider of reliable, data-driven insights for informed decision-making
- In-depth market forecasts for strategic planning and growth initiatives
- Expert analysis grounded in primary and secondary research for accurate results
- Actionable recommendations tailored to industry-specific challenges and opportunities
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Physical Security Services Market Analysis
6 North America Physical Security Services Market Analysis
7 Europe Physical Security Services Market Analysis
8 Asia-Pacific Physical Security Services Market Analysis
9 Latin America Physical Security Services Market Analysis
10 Middle East and Africa Physical Security Services Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
The key companies featured in this Physical Security Services market report include:- Securitas AB
- Garda World Security Corporation
- Brinks Security Services Limited
- Agile Security Force
- Securiguard Services Ltd.
- Allied Universal Security Services
- The Brink’s Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 178 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 357.3 Billion |
| Forecasted Market Value ( USD | $ 639.87 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
