GURUGRAM, India, October 30, 2018
GURUGRAM, India, October 30, 2018 /PRNewswire/ --
The market for Manned Guard security in Middle East is expected to register single digit growth as it has gained fresh momentum due to enhanced focus of the governments across Middle East to diversify from oil sector and to reduce its participation in micromanaging the economy. Demand for Manned Guard security service will be largely driven by group housing, apartments, and commercial infrastructure in both private as well as public sector. In the last few years, these sectors have seen rapid growth in various regions across the Middle East. The use of technology in manned security solutions is expected to surge in 2017 to 2022. This may lead to rise in wages as more skilled and educated guards will be required who can learn fast and adapt to new technology.
Central (Saudi Arabia, Iraq and Jordan) and Northern region (Turkey, Syria and Cyprus) will drive the majority of demand in the market. The unorganized market size by revenue is expected to diminish by 2022. The commercial buildings, government buildings and residential buildings are the major segments from where the demand for manned guard will observe significant rise. Commercial sector will have the majority of market share in the manned guard security market. The market dynamics across the Middle East has favored Arabic and English speaking guards. Education level, prior experience in armed/security services, adaptability to new and emerging techniques (digitization, K9 services, remote video surveillance, real time analytics and others) are some other key parameters which help in charging premium for services offered. Global companies such as G4S, Securitas and Others are expected to remain the first choice for high skill based guards or where bundled soft facility management services are engaged.
Analysts at Ken Research in their latest publication "Middle East Manned Guard Security Market Outlook to 2022 - By Countries (Turkey, KSA, UAE, Iraq, Iran, Jordan, Israel, Qatar, Egypt, Kuwait, Oman), by Organized and Unorganized, by End Users (Commercial Buildings, Government Buildings, and Residential Units)" believe that regulation compliance to improving employee benefits, introduction of various technologies in training program, compulsory engagement of minimum number of local personnel as security guard will help in consolidating the market as compliance to these norms will require investment in developing human resources, thus taking away the price advantage of unorganized players.
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing