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A Brief Note On The Private Security Services

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Introduction:
Security Services is one of those sectors which has remained unaffected by the economic slowdown and growing at a rapid pace. The private security services is one of the largest employers in India. As per Frost and Sullivan, the number of security personnel currently employed in India are around 6.5 million. In the last couple of decades, a number of multinational security service providers have entered the Indian private security service space. At the same time, many regional service providers have emerged. Rapid urbanization has increased the demand for security service increasing the market size significantly. The sector invests on training and skill development. Most of the employees in this sector come from rural parts …show more content…

The industry is poised to grow at approximately 20% in the coming years.
Industry Overview:
Manned guarding
Manned guarding is the largest segment in the security services industry both in terms of personnel and revenue. It involves manpower to secure premises and individuals. Incidences of crime and terrorist attacks and high growth of infrastructure projects has driven the demand for security personnel. Also, the availability of government employed personnel is limited and costly to deploy. The increasing difference between the demand and supply of government security has triggered the demand for private security players. Migration from rural to urban areas in search of employment has also led to an increased availability of manpower for the private security service companies. The activities in manned guarding include surveillance, protection of industrial, commercial and infrastructure facilities, protection of goods and people, security checking, toll gates and crowd management. The key drivers of an increase in organized market are – strict enforcement of regulations, centralized contracts and investing in training facilities by large companies. The unorganized sector is less compliant to labor laws and wages are a function of market dynamics. The pricing in this segment of

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