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ASIS International and IOFM jointly release study of the US private security industry’s expansion
Over 400 security industry executives participated in the United States Security Industry Survey, conducted in late 2012
ASIS leaders and IOFM analysts will present findings from the report in a special session at ASIS in Chicago

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 organisation 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 analysed, 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 honoured 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.

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