Manned Security Services Market in India 2017-2021
About Manned Security Services
Manned security services are required to protect an infrastructure against any unauthorized access, occupation, and damage. These services guard the premises against unwanted activities and protect individuals from getting affected by undesirable incidents. In the end-user segmentation, three types of buildings are considered—commercial buildings, industrial buildings, and residential buildings.
Technavio’s analysts forecast the manned security services market in India to grow at a CAGR of 15.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the manned security services market in India for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Manned Security Services Market in India 2017-2021
Technavio recognizes the following companies as the key players in the manned security services market in India: G4S, Globe Security Services, Premier Shield, SIS, and TOPSGRUP.
Other Prominent Vendors in the market are: DSS, Fireball Securitas, G-7 Securitas, and World Wide Security Organization (WWSO).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is integrated facility management services for the buildings. Integrated facility management services provide all the major support services for a building under a single umbrella. This involves a single service provider hired for services like cleaning, waste management, helpdesk, HVAC maintenance, and others, along with security services.”
According to the report, one driver in the market is insufficient police force to protect the country's huge population. India is a country with a population of over 1.2 billion. However, the number of police personnel employed in the country to safeguard such a huge population is less. India is at a stage where the crime rate is increasing, with an escalating feeling of being unsafe among the citizens of the country. The low police-to-people ratio results in troublemakers spoiling the peaceful environment of the country, thinking that they can easily abscond from the situation.
Further, the report states that one challenge in the market is low work wages and high attrition rate. Most security companies in India provide low work wages to their employees. This makes the employees unhappy considering the long hours they work for, giving rise to instances like inactivity, absence from service, or job attrition. The supply of manpower in manned security services generally comes from rural and interior parts of India.
G4S, Globe Security Services, Premier Shield, SIS, TOPSGRUP, DSS, Fireball Securitas, G-7 Securitas, and World Wide Security Organization (WWSO).