The Security Services Market Report is Segmented by Service Type (Managed Security Services, Professional Security Services, Consulting Services, and Threat Intelligence Security Services), Mode of Deployment (On-Premise and Cloud), End-User Industry (IT and Infrastructure, Government, Industrial, Healthcare, Transportation and Logistics, Banking, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The market size of the security services industry in the United States increased steadily since 2012, and reached a value of roughly 47.8 billion U.S. dollars in 2023. Despite the economic effects of COVID-19, the industry continued to grow and was worth 260 million U.S. dollars more than it was in 2020.

Security services

Companies operating in the security services industry provide private security guards and patrol vehicles, as well as additional ancillary services such as alarm systems, background screening, investigation, risk analysis, and security consultancy services. In 2022, the leading three contract security services companies in the United States generated a combined revenue of almost 22 billion U.S. dollars.

What about cybersecurity?

As internet usage has increased, cybercrime has become one of the fastest growing security threats worldwide. Data breaches, for instance, have become some sort of new normal in the digital realm. As a result, companies and individuals have looked to protect themselves and their devices. Spending in the cybersecurity industry grew rapidly in recent years, and reached approximately 71 billion U.S. dollars in 2022.

The Asia-Pacific Security Services Market Report is Segmented by Service Type (Managed Security Services, Professional Security Services, Consulting Services, and Threat Intelligence Security Services), Mode of Deployment (On-Premise and Cloud), End-User Industry (IT and Infrastructure, Government, Industrial, Healthcare, Transportation and Logistics, Banking, and Other End-User Industries), and Country (China, Japan, India, South Korea, and Rest of Asia-Pacific). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

In 2023, the outsourced contract security market in the United States was valued at 34.5 billion U.S. dollars. Between 2014 and 2023, the market size of outsourced contract security increased by 12.5 billion U.S. dollars.

Expert industry market research on the Security Services in the US (2004-2031). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

The Physical Security Services Market Report is Segmented by Component (Solution [Access Control System, Video Surveillance System, Security Scanning, Metal Detection, and Imaging, Fire and Life Safety, and Others] and Service [Professional Services and Managed Services]), End-User Industry (Manufacturing and Industrial, IT and Telecom, BFSI, Retail, Residential, Public Infrastructure (Airports, Etc. ), and Other End-User Industries), and Geography (North America, Europe, Asia, Australia and New Zealand, Latin America, and the Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

In 2020, Asia overtook Europe and North America to become the largest market for security services worldwide, valued at 37 billion U.S. dollars. Europe was the second largest security services market, valued at 36 billion U.S. dollars. Security services The security services market can be broadly divided into three main segments: security systems (for example for home or commercial real estate), private security guards and security consulting services. There is much cross over between these segments, for example with security guards being part of an overall security system, which in turn was created through security consulting services. IT security is also sometimes included as part of the security services industry but not always. Taken alone, IT security has a similar total market value to the entire traditional security services industry. Global leaders The global security services market is very concentrated, with there being four main multinational providers. Securitas and G4S are the largest of these four; both companies reporting revenue streams of approximately 10 billion U.S. dollars in 2020. Allied Universal is another main global company for security service. There are other large security companies but they do not operate in multiple regions. For example, ADT are also a multi-billion dollar security provider but their services are limited to the North American market.

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Private Security Services Market Size 2025-2029

The private security services market size is forecast to increase by USD 259.4 billion at a CAGR of 11.9% between 2024 and 2029.

The market is experiencing significant growth, driven by rapid urbanization and population expansion in various regions. This demographic shift has led to an increased demand for security services to protect both individuals and businesses from crime and security threats. Another key trend influencing market growth is the increasing popularity of virtual security systems, which offer cost-effective and efficient solutions for monitoring and surveillance. However, the market also faces challenges, including a shortage of private security personnel to meet the growing demand. Companies seeking to capitalize on market opportunities must focus on innovative solutions that address this labor shortage, such as automation and outsourcing. Additionally, investing in research and development of advanced security technologies, like artificial intelligence and machine learning, can provide a competitive edge in the market. Overall, the market presents significant opportunities for growth, particularly for companies that can effectively address the challenges of labor shortages and evolving security threats.

What will be the Size of the Market during the forecast period?

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The market encompasses a range of offerings designed to mitigate risks for individuals and businesses in an increasingly complex threat landscape. Criminal activities, including physical security threats and cybersecurity risks, continue to evolve, driving demand for specialized services such as surveillance, monitoring, access control, event security, and advanced technologies like AI and IoT for enhanced protective measures. Crime rates and cybersecurity threats pose significant challenges, with hackers, phishing, malware, and data vulnerabilities among the primary concerns for private organizations. Private security firms provide essential risk handling services, employing advanced IT systems and skilled personnel to safeguard company information and employees.
The market is characterized by continuous innovation, with a focus on data pooling and advanced technologies to improve threat detection and response capabilities. Overall, the market is a dynamic and growing industry, responding to the evolving needs of businesses and individuals in an increasingly interconnected world.

How is this Private Security Services Industry segmented?

The private security services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Residential
  Financial institutions
  Others


Service

  Manned guarding
  Electronic security services
  Cash services


Geography

  APAC

    China
    India
    Japan


  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  South America

    Brazil


  Middle East and Africa

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period. The industrial sector represents a significant portion of the market, with manufacturing industries being the primary consumers. These industries require continuous security and surveillance due to the complex nature of their operations, which often include sophisticated manufacturing plants, warehouses, and assemblies. Private security services, such as manned guarding and electronic security systems, are in high demand to ensure the safety and security of these facilities. Outsourcing security needs to private security providers enables manufacturers to concentrate on their core business activities, enhancing productivity and manufacturing plant efficiency. Consequently, the demand for private security services remains strong in the industrial sector.

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The industrial segment was valued at USD 109.70 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC experienced a notable expansion in 2024, fueled by the economic development of countries such as China, India, Thailand, and Indonesia. With increasing per capita income and urbanization, there is a growing demand for residential and commercial complexes in the region. This trend is driving the need for private securi

The report covers Global IAM Security Services Market Size and it is segmented by Type of Solutions (Identity Cloud, Identity Governance, Access Management, Directory Services, and Other Types of Solutions), Type of Deployment (On-Premise, Hybrid, and Cloud-based), Organization Size (Large Enterprises and Small & Medium Enterprises (SMEs)), End-user Vertical (BFSI, IT & Telecom, Education, Healthcare, Retail, Energy, and Manufacturing), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in value (USD million) for all the above segments.

Global Investigation And Security Services Market to hit USD 530.89B by 2029 growing at 8% CAGR. Explore trends, drivers, and competition for strategic insights with The Business Research Company.

Global Cyber Security of Security Services market size 2025 was XX Million. Cyber Security of Security Services Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The managed security services market was valued at over 31 billion U.S. dollars in 2021. The managed security services market can be segmented into different deployment types, such as on-premise and cloud, managed security service provider, as well as end-user vertical. Generally, managed security service providers (MSSPs) provide managed security services (MSS) to manage their customers' information technology (IT) infrastructure.

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Managed Security Services Market Size 2024-2028

The managed security services (MSS) market size is forecast to increase by USD 33.86 billion at a CAGR of 13.87% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing adoption of cloud-based solutions and the integration of predictive analytics. Cloud professional services are becoming increasingly popular as businesses seek to improve their security posture while reducing costs. In the domain name industry, network automation is a key trend, enabling service providers to manage large volumes of traffic more efficiently. DDoS attacks continue to pose a significant threat, leading to the demand for advanced cloud security solutions. The advent of Industry 4.0 and high-performance computing (HPC) is creating new opportunities for MSS providers, as these technologies require strong security to operate effectively. Bring-your-own-device (BYOD) policies are also driving demand for managed security services, as organizations struggle to secure a diverse range of devices accessing their networks. Despite these opportunities, there are challenges to overcome, including the potential for failure during implementation and the need for continuous monitoring and updating to keep up with evolving threats.

What will be the Size of the Managed Security Services (Mss) Market During the Forecast Period?

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The market encompasses a range of offerings, including Managed Firewall, Managed IP, Threat and Vulnerability Monitoring, Endpoint Security, and Managed DDoS protection. This market is experiencing significant growth due to increasing concerns over data breaches and cyberattacks across various industries such as healthcare, manufacturing, telecom IT, and others. With the proliferation of connected devices and the rise of Industry 4.0, the need for strong security solutions is more critical than ever. MSS providers offer both in-house and cloud-based solutions, staffed by IT security specialists who monitor and manage security infrastructure to protect against malicious attackers. Healthcare facilities and medical devices, in particular, face unique challenges in safeguarding patient privacy and securing sensitive data.
MSS solutions play a crucial role in addressing these concerns, providing threat intelligence, vulnerability assessments, and ongoing security management. In summary, the Managed Security Services market is a dynamic and growing sector, driven by the ever-evolving threat landscape and the increasing importance of data security for businesses across all industries. MSS providers offer essential services, including network, cloud, and data security, to help organizations mitigate risks and protect their digital assets.
Cloud security is a critical aspect of modern IT infrastructure, ensuring the safety of data and applications hosted in the cloud. Threat intelligence helps organizations stay ahead of emerging cyber threats by providing real-time insights and proactive strategies. Endpoint protection is essential to safeguard devices such as laptops, smartphones, and tablets from malware and attacks. Network security is a key layer of defense, protecting the organization's internal network from unauthorized access and cyberattacks. SIEM (Security Information and Event Management) solutions provide centralized monitoring and analysis of security events, enhancing visibility and threat detection. Risk management strategies are crucial for identifying, assessing, and mitigating potential security risks. Managed detection and response services provide continuous monitoring and rapid response to security incidents, while vulnerability management identifies and addresses security weaknesses.
Incident response plans ensure a swift and coordinated reaction to security breaches. Compliance management helps organizations meet regulatory requirements, ensuring data protection and security. Security automation streamlines processes to improve efficiency and reduce human error. Cybersecurity as a service offers scalable solutions for businesses to strengthen their security posture. Security monitoring is vital for identifying suspicious activity, while data protection ensures that sensitive information remains secure. Finally, identity and access management systems control user access, enforcing policies that protect systems from unauthorized entry.

How is this Managed Security Services (MSS) Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  SMEs
  Large enterprises


Deployment

  Cloud-based
  On-premises


Service Type

  Managed Firewall
  Managed Intrusion Detection/Prevention Systems (IDP/IPS)

The European Security Services Market Report is Segmented by Service Type (Managed Security Services, Professional Security Services, Consulting Services, and Threat Intelligence Security Services), Mode of Deployment (On-Premise and Cloud), End-User Industry (IT and Infrastructure, Government, Industrial, Healthcare, Transportation and Logistics, Banking, and Other End-User Industries), and Country (United Kingdom, Germany, France, and Rest of Europe). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Graph and download economic data for Producer Price Index by Industry: Security Guards and Patrol Services: Security Guard Services (PCU5616125616121) from Dec 2004 to Feb 2025 about safety, services, PPI, industry, inflation, price index, indexes, price, and USA.

Several high-profile events hosted across Europe have created work for private security services. In 2022 and 2023, Queen Elizabeth II's funeral and King Charles III's coronation necessitated a massive security presence to supplement police efforts in crowd control. The upcoming 2024 Summer Olympics in Paris and the 2024 UEFA European Football Championship in Germany will both need a major security presence. Private security revenue is projected to shrink at a compound annual rate of 3.7% to €70.4 billion over the five years through 2024, including a drop of 3.3% in 2024. Governments are leaning more heavily on private security to fill the gaps in police work, especially in handling large public events like sports matches and music concerts. EU police budgets have fallen by 2.7% in real terms between 2018 and 2021, indicating an escalating reliance on private security support. However, the with rapidly advancing techlogy, demand for onsite sercurity is diminishing, which has contrained profit. More work is moving to the remote security system industry and the advent of cashless societies threatens demand for cash transport. In the future, security systems will become increasingly digital, lowering demand for onsite security personnel, putting the industry at risk. Emerging technologies (e.g. facial recognition and AI-integrated security systems) may replace the traditional model of human-centred security. Nevertheless, many situations will continue to require a human presence. Revenue is projected to grow at a compound annual rate of 3% over the five years through 2029 to €81.7 billion.

Explore the detailed segmentation analysis of the Managed Security Services market. Understand detailed breakdown for each segment and uncover market opportunities.

According to Cognitive Market Research, The Global Managed Security Services market size was USD 31.52 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.80% from 2023 to 2030. Intensification of Cybercrime Activities to Provide Viable Market Output

Globally, cybercrime has been on the rise. Businesses still rely on outdated data protection methods despite the rising sophistication of attacks and the intricate nature of the IT network. Bring-Your-Own-Device (BYOD), mobile phones, social networking sites, and cloud-based service usage, among other technological advances and practices, have considerably exacerbated the difficulty of maintaining data security. These days, more and more well-funded, capable, coordinated, and motivated organizations are driving organized cybercriminal operations.

Observation of Industry Standards and Security Laws to Propel Market Growth

Compliance with security laws and industry standards significantly influences the adoption of security management services. Businesses in all industries must comply with strict privacy and data protection laws, which force them to put in place reliable security measures and protect sensitive data. Managed security service providers (MSSPs) are essential in guiding organizations through complicated compliance environments and ensuring that legal obligations are followed.

Regulations like Brazil's General Data Protection Law (LGPD) and the California Consumer Privacy Act (CCPA), which gained traction in 2023, compelled businesses to improve their data protection procedures.

(Source:www.americanbar.org/groups/business_law/resources/business-law-today/2020-may/brazil-passes-landmark-privacy-law/)

Organizations must comply with these rules by implementing extensive security measures, periodic risk assessments, and incident response capabilities. Managed security services let businesses conduct audits, integrate security procedures with legal requirements, and provide compliance-related documentation.

The Factors Restraining the Growth of the Managed Security Services Market

Organizational Unawareness of Managed Security Services to Hinder Market Growth

The lack of understanding about managed security services in small organizations might significantly impede the market's growth. Many businesses are unaware of the significance of cybersecurity and the possible risks that cyber threats represent to their operations. As a result, they may underestimate the benefit of outsourcing their safety requirements to a third-party supplier, limiting the market's growth possibilities.

Organizations may be unaware of the most recent technological advances and best practices and may lack the resources or skills to manage their security demands successfully. They can benefit from the experience of cybersecurity specialists and the newest security technologies by exporting their safety concerns to a managed security services provider. This can help them enhance their security posture and decrease the risk of cyber threats.

Impact of COVID–19 on the Managed Security Services Market

The COVID-19 epidemic has also pressured digital ecosystems to protect data from nefarious intruders. Organizations are forced to outsource security-related services due to the dynamic shift in the threat landscape, the ongoing increase in cyberattacks, a lack of skilled labor, and complexity. According to IDC Security Services, 60% of organizations have shifted to outsourcing controlled security services and implemented cloud technology services. Market growth has been spurred by innovations and developments in managed security services, including firewall management, security for endpoints, and increased cyberattacks since the start of the pandemic. The average ransomware payment, for instance, increased by 82% to a high of $570,000 in the initial half of 2021 from $312,000 in 2020, based on a report from Palo Alto Networks' Unit 42 security consultancy group. Introduction of Managed Security Services

The explosion of consumer-generated data, government laws, and the rise in new threats are all contributing factors to the managed security services sector's expansion. Cyberattacks now have many new entry points because of the digital revolution. Managed security services companies now have more opportunities thanks to the variety of technologies and the shortage of expe...

The global managed security services market is likely to expand from USD 32.69 billion in 2024 to USD 194.42 billion by 2037, witnessing a CAGR of around 14.7% throughout the forecast period, between 2025 and 2037. Key industry players include IBM, SecureWorks, Inc., Verizon, among others.

Global Private Security Services market size 2025 was XX Million. Private Security Services Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.