Access Control, Human Resources, Security

Security Groups Release Global Market Outlook

The Security Industry Association (SIA) and ASIS International have partnered to release “Complexities in the Global Security Market: 2024 Through 2026,” a new research report that provides insights into the equipment, technologies, and employment of the global security industry.

Key findings include:

  • The global physical security equipment market is expected to be worth $60.1 billion in 2024, as the industry continues to recover following the COVID-19 pandemic and grow to $70 billion by 2026.
  • The overall physical security equipment and services market is much larger, totaling $405 billion in 2023 and projected to grow to nearly $500 billion by 2026.
  • The physical security market employs more than 30 million people worldwide, with 210,000 of those being in the equipment market, about 7.87 million in the services market, and 22.6 million working as security end users.

SIA CEO Don Erickson said the report “presents critical economic insights on the importance of the global security industry and offers a valuable snapshot of where we are moving over the next three years.”

The industry groups worked with analytics and advisory firm Omdia to complete the research. The exclusive report can be accessed for free by SIA members and ASIS members.

ALSO READ: AI Dominates Security Megatrends of 2024

Leave a Reply

Your email address will not be published. Required fields are marked *