• Technology and Services• Regional Breakdowns• Employment Complexities in the Global Security Market:2024 through 2026 Introduction Letter Dear ASIS and SIA Members: We are thrilled to share with you a collaborative achievement between ASIS International and theSecurity Industry Association (SIA) – the release of our exclusive research report, "Complexities in theGlobal Security Market: 2024 Through 2026." Crafted expressly for our respective members, this pioneering report provides indispensable insightsinto the macroeconomic significance of the security market, demonstrating that the industry is anessential contributor to the global economy and a compelling source of potential employment. Thereport examines the transformative impact of technology and presents comprehensive assessmentsacross key industry dimensions, including technology trends, geographic regions, and vertical markets. In partnership with the globally renowned analytics and advisory firm, Omdia, this report offers adetailed analysis of the equipment, technologies, and employment landscape of the global securityindustry. It encompasses regional market breakouts of the global security industry, delivering a nuancedunderstanding of the industry's dynamic landscape. Key findings from this research project include projections for the global physical security equipmentmarket, which is anticipated to reach $60.1 billion in 2024, rebounding from the challenges posed by theCOVID-19 pandemic, and is expected to grow to $70 billion by 2026. Furthermore, the overall physicalsecurity equipment and services market is poised to reach $500 billion by 2026. Highlighting the human aspect of our industry, the report underscores that the physical security marketemploys over 30 million people globally. Noting that more than 210,000 individuals work in theequipment market, 7.87 million in the services market, and 22.6 million as security end users, this reportoffers a holistic view of the diverse and dynamic workforce within the security sector. Beyond these key findings, the report delves into analyses of regional demand, solution requirements,economic conditions, service and equipment preferences, and political challenges. It also addresses theimpact of technology trends, such as artificial intelligence and cloud computing, providing our memberswith a comprehensive understanding of the forces shaping the industry. We encourage you to explore the full report and leverage the invaluable insights to shape your businessstrategies. This information is not only relevant to practitioners in corporate, organizational, and privatesecurity roles as well as security solutions integrators and equipment manufacturers, but also toinvestors, academics, and government officials with an interest in the security market. As leaders of ASIS International and the Security Industry Association, we extend our heartfelt gratitudefor your continued support and engagement with our organizations, and we hope that you find greatvalue in this exclusive member benefit. Sincerely, Peter O’Neil, FASAE, CAECEO, ASIS International Don EricksonCEO, Security Industry Association Contents Global Security Market2022-2026 The market for physical security equipment and services by type Estimated people employed* across the physical security market 22,600,000Endusers 210,000Equipmentmarket 7,865,000Servicesmarket Physical security market in themacro-economy The market for physical securityservices by region (2022–$298 billion) Equipment, distribution and servicesmarket worth a combined $405Billionin 2023 Conclusions& Recommendations There is no doubtthat physical security is an importantindustry. It providessafety and security,thesecond most basic need afterphysiologicalrequirements(food, water, warmth)according toMaslow'shierarchy of needs.It also provides employmenttomore than 30 million people. This state of the industry report provides insight intothe equipment, services,technologies,and regionalmarkets of the global security industry. Summaryand conclusions: •Thephysical securityequipmentmarketwasworthan estimated $51 billion in 2022and $56billion in 2023.The market is forecast to grow at 9% year-on-year in 2024 asthe industrycontinues to recover following the pandemic. •The physical security services market is much larger, at an estimated $298 billion in 2022 and$319 billion in 2023. Guarding services make up the largest share of the servicesmarket. Thatsaid,security services, including installation andmaintenanceof security equipment,isforecastto be worth $117 billion in 2026.•The market is an important component of the global economy. The servicesmarket accounts for0.3% of world GDP andthe combined equipment and services market is worth more than tentimes the corresponding equipment and services market inpublic safetycriticalcommunicationssolutions.•Regionally, North America, Europe andChina are the largest equipment markets in terms ofrevenues, accounting for