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Investigation and security services market Some 84,000 firms offer nearly $400 million in premium There are more than 84,000 firms providing investigation and security services in the United States, according to data compiled by MarketStance, Middletown, Connecticut. This market segment accounts for nearly $400 million in premiums. Security guards and patrol services represent the largest subgroup in this category, providing $194.2 million in premium, or 48.6% of the total, followed by security systems services (except locksmiths) with $133.9 million in premium (33.5%); investigation services with $30.9 million (7.7%); locksmiths with $26.7 million (6.7%); and armored car services with $14.1 million (3.5%). Texas has the largest number of firms engaged in investigation and security services, with 13,200 firms, followed by California (8,086), Florida (7,592), New York (5,766) and Georgia (4,089). Only three states are forecasted to experience growth in the number of accounts exceeding 3% annually: Utah (4.3%), Minnesota (3.7%) and Idaho (3.5%). Three states are projected to show small declines in the number of enterprises: Connecticut, Delaware and New Jersey. There are only two states where the average premium per investigation and security service firm exceeds $10,000: New Hampshire with an average premium per account of $14,100 and California with an average of $13,200. Of the nearly $30.7 billion in revenue received by investigation and security service firms, security guards and patrol services accounted for more than half, with $16.3 billion, followed by security systems services (except locksmiths), with $8.8 billion. Security guards and patrol services also experienced the strongest historical growth, with an average annual growth of 8.7%. However, the forecast calls for more modest growth of 2.2% going forward. Large firms with 5,000 or more employees account for $82.4 million (20.6%) of the total premiums written in this niche. Firms with 100 to 249 employees account for $54.2 million in premium (13.5%), firms with 20 to 49 employees provide $54.0 million in premium (13.5%), and firms with 50 to 99 employees account for $46.5 million (11.6%). For more information on the investigation and security services market, contact MarketStance at (888) 777-2587 or e-mail info@marketstance.com. * |
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