The private security market - France

The INSEE defines private security as all guarding, patrol, and cash or valuables transportation services using personnel equipped to protect the goods during transportation. In fact, private security includes various activities such as personal protection and the protection of premises and buildings (guarding). The private security sector, which alone represents approximately 73% of the security sector's turnover, has experienced strong growth in recent years, well above that of the French GDP. This growth was boosted by the attacks of January and November 2015, which increased demand and strengthened the devices made available for physical security. For all that, the market is relatively fragmented among many players who market generally specialized offerings (personal protection, for example). However, a few large companies such as Securitas control a large part of the market. Regulatory and technological developments are also factors that the sector must take into account. The growth of the security systems market is twice that of the private security market. As a result, the sector is adapting with innovations such as the use of drones for building surveillance. In addition, in recent years, the cyber threat has been one of the industry's biggest challenges. With cybersecurity spending reaching €23 billion in 2021, IT security is now a priority for companies, who need to protect their data.