Groundbreaking Study Finds U.S. Security Industry to be $350 Billion Market
Alexandria, Va. (PRWEB) August 12, 2013 -- ASIS International (ASIS) and the Institute of Finance and Management (IOFM) jointly announce the release of “The United States Security Industry: Size and Scope, Insights, Trends, and Data,” an extensive benchmark study of the private security industry’s expansion over the past decade and projected future growth. An analysis of the security products and services market, as well as the industry’s personnel market, is presented within the report. ASIS is the leading organization for security professionals worldwide. A business unit within Diversified Business Communications, IOFM is a renowned source of market intelligence and resources in physical security and corporate financial management.
Over 400 security industry executives participated in the United States Security Industry Survey, conducted in late 2012. A companion survey of security manufacturers and vendors, security services providers, dealers, distributors, installers and integrators was also conducted in order to enhance market projections. Information collected was analyzed, aggregated and combined with additional data from related national studies conducted by ASIS and IOFM, as well as publicly available information from U.S. government data and market research of homeland security spending.
Key highlights of the report include:
• $350 billion market breaks out to $282 billion in private sector spending and $69 billion in federal government spending on homeland security
• Operational (non-IT) private security spending is estimated to be $202 billion with expected growth of 5.5 percent in 2013; IT-related private security market is estimated at $80 billion with growth of 9 percent projected for 2013
• Number of full-time security workers is estimated to be between 1.9 and 2.1 million
• 42 percent of respondents indicated spending on training would increase in 2013, with 12 percent anticipating a rise of 10 percent or more
• Private detective/investigator is one of the fastest growing occupations, with anticipated growth of 21 percent projected through 2020; several IT positions are anticipated to grow 22 percent through 2020
“A heightened threat environment, among other factors, has stimulated rapid advancements and significant overall growth in technology and key services across the operational and IT security markets and increased the demand for knowledgeable, skilled workers at all levels within the security management structure,” said ASIS President Geoff Craighead, CPP. “Not since the ‘Hallcrest Report II,’ published in 1990, has such a definitive study been conducted. This data will assuredly be an invaluable tool for security practitioners, service providers and manufacturers as they develop business plans and strategies for the coming years.”
“This research is a watershed in understanding the enormous size and breadth of the security marketplace in the United States,” stated RD Whitney, Executive Director at IOFM. “Market intelligence is a must-have tool for all security directors planning their departmental and personnel budgets and resource needs, as well as for industry suppliers planning their marketing and product growth. We are honored to have worked with ASIS on this landmark study.”
ASIS leaders and IOFM analysts will present high-level findings from the report in a special information session at the ASIS International 59th Annual Seminar and Exhibits at McCormick Place in Chicago, Ill.
Defining the U.S. Security Market
Session 4204, Room S502b
Thursday, September 26, 2013
1:45-2:45 p.m.
The 189-page, spiral bound report is available for purchase in the ASIS Store online at https://www.asisonline.org/bookstore/. Special pre-publication pricing is available through Aug. 20 and onsite at the ASIS International 59th Annual Seminar and Exhibits Bookstore, Sept. 24-27 at McCormick Place in Chicago, Ill. The pre-publication price for ASIS members is $395 and $625 for nonmembers. Regular pricing will be $495 for ASIS members and $725 for nonmembers.
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About ASIS International
ASIS International is the preeminent organization for security professionals, with more than 38,000 members worldwide. Founded in 1955, ASIS is dedicated to increasing the effectiveness and productivity of security professionals by developing educational programs and materials that address broad security interests, such as the ASIS Annual Seminar and Exhibits, as well as specific security topics. ASIS also advocates the role and value of the security management profession to business, the media, government entities and the public. By providing members and the security community with access to a full range of programs and services, and by publishing the industry’s No. 1 magazine—Security Management—ASIS leads the way for advanced and improved security performance.
About the Institute of Finance and Management
The Institute of Finance & Management (IOFM) is the leading source of market intelligence, peer networks, training, and research tools for Security Directors and Corporate Finance professionals. IOFM develops peer-based networks providing insight, best practices and proprietary research. IOFM hosts the largest corporate finance events in the country supporting the compliance and productivity needs of organizations. With a rapidly growing research platform, and a keen understanding of the issues and content of the most importance to finance professionals, IOFM is your partner to help improve your departments’ performance, and advance your career (http://www.iofm.com). IOFM is a unit of Diversified Business Communications. Headquartered in Portland, Maine, Diversified provides information and market access through face-to-face events, publications, research and eMedia. Diversified operates divisions in Australia, Hong Kong, India, the UK and Canada (http://www.divbusiness.com).
Leigh A. McGuire, ASIS International, https://www.asisonline.org, +1.703.518.1465, [email protected]
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