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Security

Security involves following procedures and taking measures to ensure the safety of a state, organization, or individuals.

Security industry

According to its report, Grand View Research anticipates the global security market size to reach USD$167.12 billion by 2025, following expansion at a CAGR of 10.3%. Over this period, North America is expected to continue to lead the market and reach USD$53.15 billion by 2025.

The adoption of security systems is increasing as they offer high quality surveillance with minimized distortion. The rise of criminality worldwide and strict government regulations have also contributed to the increased adoption of security systems.

Moreover, the growing number of infrastructures across the globe has resulted in increased demand for safety systems, such as access control systems (ACS) and video surveillance systems (VSS). The VSS segment led the market in 2018. Continuous and growing use of security cameras in various locations, such as airports, railway stations, and ports, is also driving the market. These systems find extensive use in the military and defense sector for surveillance purposes.

Industry trends and innovation
Intelligent video technology

AI-augmented video technology can be potentially used to help companies implement safety measures for their employees and customers at the time of the COVID-19 pandemic and other such emergency situations in the future. Security cameras powered by AI can monitor densely populated locations to ensure employees and customers follow safety precautions, including social distancing, mask wearing, and flow control. These cameras can also provide temperature screenings.

The COVID-19 pandemic has also been contributing to the touchless access control system trend, with numerous modes of touchless verification such as face recognition, palmprint recognition, NFC, and QR code scanning increasing in popularity.

Edge computing

The increased adoption edge computing solutions such as automatic number plate recognition (ANPR), automated event alerting, people counting, heat mapping, illegal parking detection, and hard hat detection, and others are expected to drive the security market.

Multi-dimensional perception

The perception capabilities of video cameras and systems can be integrated with radar detection, multispectral imagery, humidity and temperature measurement, and gas pressure detection, enabling multi-dimensional perception. Multispectral imagery enables cameras to perceive information in the non-visible light spectrum. For instance, ultraviolet (UV) detection cameras can capture invisible electric arc phenomena, which can be used in safety checks at aging power grids.

5G technology for UHD and wireless video security

5G's greater bandwidth and lower latency make the regular transmission of high quality images possible. As 5G networks are established and wireless cameras become commonplace, more edge devices are connected in remote locations, facilitating wide and rapid deployment of AI applications in edge devices.

US security services industry

The security services industry comprises operators that provide guard and patrol services, in-transit cash and valuables protection, as well as ancillary ancillary services such as alarm systems, cyber security, background screening, investigation, risk analysis, and security consultancy services. These services are provided to a variety of clients, including individuals, businesses, and government agencies. This industry does not include companies that perform credit checks or sell security systems, such as burglar and fire alarms.

The growth of the security services industry corresponds to business formation rates, as new businesses are likely to avail of security services. The industry also relies on government spending, as it is common for federal, state, and local governments to outsource security services for office buildings, parks, and facilities.

According to Ibisworld, the number of businesses in the US security services industry amounts to 14,760, and the industry employment measures 861,045. The security services industry includes the following services:

  • Security guard services for buildings and grounds
  • Security guard and crowd control services for temporary events
  • Armored vehicle services
  • Polygraph services
  • Corporate investigative services
  • Private detective services
  • Bodyguard services

The security services industry serves corporations and financial institutions, government and NGO, residential, retail and leisure, and other clients.

Market size

The market size of the US security services industry totaled $46.3 billion in 2021, and the market size growth amount to 0.2%. From 2016 to 2021 the annualized market size growth of the security services industry was 3.4%. It outpaced the administration, business support, and waste management sector in terms of growth and is the 7th ranked by market size within this sector, and the 205th largest in the US

US contract security industry

Many smaller companies that provide exclusively traditional standing security officer services continue to use the terms “security guard” or “contract security” to define their limited selection of services.

However, the larger companies that still derive a significant portion of their revenue from traditional standing security officer services have ceased referring to their operations in those terms, and instead use terms such as “security solutions,” “integrated guarding," or “integrated security solutions” (or other similar terms) as a way to define their business activity, which now may include the variform security services such as:

  • Traditional on-site standing security officers
  • Remote video monitoring
  • Robots
  • Drones
  • K-9 security
  • Integration of systems with artificial intelligence platforms
  • Roving vehicle patrol
  • Traditional concierge services
  • Executive protection
  • Investigation services
  • Cash-In-Transit (armored car services; these services are usually provided by traditional manned guarding companies)
  • Temperature checks, distance, and mask monitoring during pandemics, such as COVID-19

The large companies continue to emphasize and expand the “Integrated Security” function as a one-stop solution to all security needs. The five world leaders in security services (as of 2019) have made significant investments in technology that enhances the delivery of their offered services.

Securitas

Sales performance in North America

2019
2018

Organic sales growth, %

4

6

Share of Group sales, %

44

42

Total sales in US$

$5.1bn

$4.8bn

Key performance indicators

As of 2019, Securitas had:

  • 370,000 employees
  • 56 countries with operations
  • 150,000 clients (excluding monitoring-only clients)
  • 89% client retention rate
  • 150 global clients

List of security companies

Timeline

People

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Further reading

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Documentaries, videos and podcasts

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News

Title
Author
Date
Publisher
Description
Gareth Halfacree
July 22, 2021
go.theregister.com
'We need to hold each other to account when we're talking through these issues'
Richard Speed
July 22, 2021
go.theregister.com
Nauka? More like 'Borka!' Geddit?
Alex Scroxton
July 22, 2021
ComputerWeekly.com
With around a third of cyber pros saying they have personally experienced harassment at work or online, a new initiative is urging organisations to pledge their support to help free the community from the scourge of abuse. We met its founders
By KRISTEN GELINEAU and VICTORIA MILKO
July 6, 2021
AP NEWS
JAKARTA, Indonesia (AP) -- The clandestine clinic was under fire, and the medics inside were in tears. Hidden away in a Myanmar monastery, this safe haven had sprung up for those injured while protesting the military's overthrow of the government.
By KRISTEN GELINEAU and VICTORIA MILKO
July 6, 2021
AP NEWS
JAKARTA, Indonesia (AP) -- The clandestine clinic was under fire, and the medics inside were in tears.Hidden away in a Myanmar monastery, this safe haven had sprung up for those injured while protesting the military's overthrow of the government.
July 1, 2021
The Indian Express
The ability to use security keys as your 2FA method was added by the micro-blogging platform back in 2018, but support for iOS and Android platforms was added in 2020.
Science X staff
June 28, 2021
phys.org
What happens to children of extremist parents? Commissioned by the Scientific Research and Documentation Center (WODC) of the Ministry of Justice and Security, four ISGA researchers, Layla van Wieringen, Daan Weggemans, Katharina Krüsselmann and Marieke Liem, wrote a report on the nature and extent of intergenerational transmission of jihadism and other extremist ideas. The report was released this week.
Kari Paul
June 17, 2021
the Guardian
With workers outside the 'castle walls' of their companies, criminals have it easier - and cryptocurrency hasn't helped
Institute for Economics & Peace (IEP)
June 17, 2021
www.prnewswire.com:443
/PRNewswire/ -- Today marks the launch of the 15th edition of the Global Peace Index from the international think-tank the Institute for Economics & Peace...
Alex Scroxton
May 27, 2021
ComputerWeekly.com
Spiralling stress levels among SOC and IT security teams can be attributed mainly to alert overload, says Trend Micro
Research and Markets
May 25, 2021
www.prnewswire.com:443
/PRNewswire/ -- The "Biometrics in Security & Public Safety Technologies & Market (with COVID-19 Impact) - 2021-2026" report has been added to...
Dan DeFrancesco and Jordan Parker Erb
May 21, 2021
Business Insider
Wall Street is back in the office, and that means bankers are heading back to bars and restaurants in NYC.
Hayley Cuccinello
May 20, 2021
Business Insider
Security firms for the wealthy had to pivot when travel halted last year. Now they are getting ready for their clients to vacation around the world.
Jason Cipriani
May 13, 2021
CNET
Facebook collects a treasure trove of personal information about all of us. Take a few minutes to make sure all of that data stays private.
SYNNEX Corporation
May 12, 2021
www.prnewswire.com:443
/PRNewswire/ -- SYNNEX Corporation (NYSE: SNX), a leading provider of distribution, systems design and integration services for the technology industry, today...
May 12, 2021
9to5Mac
The Find My network is used by Apple to report locations of items and devices via the data connection of any nearby iPhone, Mac, or other Apple device. Security researcher Fabian Bräunlein has today released a blog post demonstrating how the Find My network can be exploited as a generic data transfer mechanism. By faking [...]
IBM
May 5, 2021
www.prnewswire.com:443
/PRNewswire/ -- IBM (NYSE: IBM) Security today introduced a new Software as a Service (SaaS) version of IBM Cloud Pak for Security, designed to simplify how...
IBM
April 27, 2021
www.prnewswire.com:443
/PRNewswire/ -- Today IBM (NYSE:IBM) Security announced it has collaborated with HCL Technologies (HCL) to help unify and streamline threat management for...
Ram Iyer
April 24, 2021
TechCrunch
Standard operating processes exist for the simplest of tasks, so why isn't there a standardized approach for dealing with security of the public cloud -- something fundamental to our society?
Tasneem Akolawala
April 14, 2021
NDTV Gadgets 360
Check Point has released its Mobile Security Report 2021 revealing some alarming details about cyber-attacks in 2020. Research also showed that at least 40 percent of the world's mobile devices are inherently vulnerable to cyber-attacks due to flaws in their chipsets, and need urgent patching. This is four out of every 10 handsets in the world.
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References

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