KSA Manned Security Market Size

KSA Manned Security Market Analysis

The KSA manned security market was valued at USD 0.768 billion the previous year. It is expected to register a CAGR of 10.51%, reaching USD 1.386 billion by the next five years.

Manned security services are essential in protecting the physical security of any building due to the quick response capabilities of the security guards. This is fueling the market's growth in the Kingdom of Saudi Arabia, and the infrastructural growth also supports it due to the country's Vision 2030 objective.

• The country has been prioritizing its investments in industrial sectors by implementing various policies and reforms to diversify the economy from oil-based, including privatizing state-owned enterprises, investing in renewable energy, encouraging foreign investment, and creating a tourism industry. This fuels the growth of industrial and commercial buildings in the country, generating a growth opportunity for manned security services. For instance, the ministry reported that foreign and local companies' growth of FDI and joint venture activities increased by 8.3% in FY 2022 from FY 2021. This supported industrial growth and created an opportunity for the market in the future due to the need for security guards in the industrial facilities of Saudi Arabia.
• The Kingdom of Saudi Arabia has undertaken multiple transformations and modernization initiatives in recent years. This transformation has been particularly evident in its rapid and substantial economic growth, notably within the commercial and industrial sectors.
• The security landscape is becoming increasingly complex, with threats emanating from various sources, both internal and external. Saudi Arabia faced a dynamic and evolving landscape of security challenges. These challenges encompass many concerns, from traditional threats like theft and vandalism to modern and sophisticated risks such as cyberattacks and terrorism. As these threats become more complex, businesses and organizations increasingly recognize the importance of specialized security expertise to mitigate these risks effectively.
• The country has witnessed significant technological advancements and a growing emphasis on security solutions in recent years. While these technological innovations have greatly benefited the security industry, they have also introduced a unique challenge in KSA's traditional manned security market.
• The application of physical security services for maintaining the entry restrictions and social distancing guidelines in the building premises increased during the COVID-19 pandemic, which fueled the market's growth. However, delayed construction projects and the shutdown of commercial and industrial buildings impacted the manned security service market by lowering the requirement for security guards in those premises in the country. However, the market regained its growth after the pandemic following the withdrawal of shutdowns in the country.
• After the COVID-19 pandemic, the growth in construction activities in the industrial and commercial domains in the country significantly drove the need for manned security services. It fueled the market's growth by creating an opportunity for the market vendors due to their expertise in providing trained security guards to industrial and commercial buildings in the Kingdom of Saudi Arabia.