Global security services industry to experience spend growth of more than $80 billion


The global security services industry is poised to experience spend growth of more than $80 billion between 2019-2024 at a CAGR of over 8% during the forecast period, according to SpendEdge.

Factors such as the increase in the instances of IP infringement, the frequency of economic and sporting events are exposing masses to significant security risks. This is creating a pressing requirement to engage security services across the domestic and business sectors across the globe and in the process is driving investments in the security services industry at a substantial rate.

The US is one of the dominant regions in the global security services industry in terms of spend share and is accounting for over 80% of the total regional demand.