In a climate of heightened global fear of terrorism, increasing internet usage and accompanying cyber-crime, demand for security and investigative services is rising. Moderate growth in the domestic economy in 2011-12 is expected to generate stable demand for the industry's services, particularly security and private investigations. For these reasons, industry research firm IBISWorld has updated its report on the Security and Investigative Services industry.
Melbourne, Australia (PRWEB) May 07, 2012
Despite statistics in recent years showing a general decline in reported breaking and entering, robbery, and other theft, cautious households and businesses are increasingly investing in security and preventative measures. According to IBISWorld industry analyst Alen Allday, ?in a climate of heightened global fear of terrorism, increasing internet usage and accompanying cyber-crime, demand for security and investigative services is rising?. Moderate growth in the domestic economy in 2011-12 is expected to generate stable demand for the industry's services, particularly security and private investigations. In 2011-12, IBISWorld forecasts the Security and Investigative Services industry will generate revenue of $3.17 billion, a rise of 2.1% from 2010-11. Industry revenue has increased an annualised 0.4% in the past five years.
Technology plays a key role in crime prevention in the digital age, from closed-circuit TV (CCTV), to online security and protection from fraud and identity theft. Allday adds, ?servicing of ATMs and cash transport have also been growth drivers for the industry?. Crowd control is also a rising area of industry activity, particularly at major events and entertainment venues. The industry has a medium industry concentration level. Some segments have high concentration levels, such as commercial security, while others have low concentration levels, such as private investigations. Chubb is the largest industry player. Other major players include Linfox, ISS Facilities Services, Sydney Night Patrol and Inquiry Co. and Wilson Parking.
Over the five years through 2016-17, Security and Investigative Services industry revenue is forecast to increase and high-tech surveillance and data delivery tools will continue be at the frontline of security and investigative services. Government licensing regulations will increasingly require crowd controllers to be employed by pubs, clubs, bars, nightclubs and other venues serving liquor for on-premises consumption. However, cash transfer and armoured vehicle services are expected to decline in the next five years due to weaker retail sales and decreased levels of cash usage.
For more information, visit IBISWorld?s Security and Investigative Services report in Australia industry page.
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IBISWorld industry Report Key Topics
Companies in this industry provide security, protection or private enquiry services, other than units of police forces and government security agencies. Services include guards and patrols, monitored security systems, casual and permanent security staff and crowd controllers, ATM and cash collection services and some aspects of secure document and computer data storage.
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About IBISWorld Inc.
Recognised as the nation?s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
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