Growth in the U.K. Market of Manned Security Estimated to be over £4 billion in 2016
New research from Mintel, global market intelligence agency, has forecast the Manned Security sector will be worth over £4 billion in 2016.
<strong>Albany, New York, December 29, 2016:</strong> The market of manned security is the focus of a new report of Mintel’s research that has been added to the report offerings of Market Research Hub (MRH). The study titled, “Manned Security in UK - December 2016”, offers a detailed analysis of the <strong><a href="http://www.marketresearchhub.com/report/manned-security-uk-december-2016-report.html">U.K. manned security market</a></strong> during the forecast of 2017 to 2021. It has been observed that the value of this industry has varied significantly over the past 5 years which was punctuated by a number of demand spikes from major national events. According to Mintel’s latest research, UK’s manned security market has reached a value of £4 billion in 2016.
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In the United Kingdom, the market for manned security is growing day by day, despiting the fact that low-cost delivery demands continue to push down prices and also this forecast expansion is expected to be influenced towards a small number of companies, masking continued difficulties for small and medium-sized businesses in the guarding sector. Additionally one of the market trends observed by the study is the U.K. prison population, sharp use of technology throughout the industry and rise of body cameras which is assisting the rise of the manned security market.
According to the report, the manned security sector stays to be dominated by small-to-medium sized enterprises, which have appreciated ongoing prosperity despite the presence of some large-scale international operators; while custodial services and the cash-in-transit sector remains dominated by large companies. Among these, the custodial services sector is the strongest element of the manned security industry, increasing by an estimated 6 % in 2015, led by larger operators of managing & delivering sector contracts. In the next section, the market factors are described along with the introduction of the National Minimum Wage in the U.K. during 2010 to 2015.
Further, the report also focuses on the impacts of Brexit on the security industry. There are a number of leading suppliers of security equipment who are based in Europe and the U.K., so there are also concerns about the impact of Brexit that could target the security industry. Some of the positive impacts of the EU regulations that existed in the manned guarding industry were- working time directive, equal pay, TUPE protections, health & safety, public procurement and employees rights to information. Now, after Brexit, there are possibilities that factors such as poorly motivated guards with incomplete training and extended working hours might prevail.
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List of key companies of U.K. profiled in the report are as follows:
<li>Securitas Security Services</li>
<li>Sedexo Justice Services</li>
<li>Geo Amey Pecs</li>
<li>G4S Cash Solutions</li>
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Dec 29, 2016