February 22, 2023
By:EmpoweringCPO Insights Team

Security Services

This UAE category report on Security Services will be very useful for your team responsible for managing and buying this category. This report gives an overview of the Global Security Services market and the UAE Security Services Market. This report gives in-depth information about Security Service Pricing, an exhaustive list of service providers, and many other insights useful for benchmarking your current vendor. In this report, we have also presented insights on the RFP process – data gathering, RFP elements, and buying decision scorecard. Our team of experienced sourcing and procurement professionals can help you with the execution of the strategic sourcing process by providing Procurement Consultancy, Spend analysis Reports, and ongoing category management.

This research document on Security Services will help your team understand spend analysis reports and benchmarking this category as well as in identifying negotiation points when finalizing your contracts. This report also provides an exhaustive list of leading vendors in this domain. Based on their strengths and capabilities and based on the information shared about these vendors, they can be shortlisted for participating in Strategic Sourcing Projects.

Abstract:

  • Security Services deploy measures to deny unauthorized access to facilities and resources and to protect personnel and property from damage or harm by using multiple layers of interdependent systems.
  • The Global security services market was estimated at $142 billion in 2018 and is expected to grow at 9.2% to reach $155 billion in 2019.
  • The Asia-Pacific region has shown the highest growth rate driven by high-security threats and low-security utilization compared to Western market levels.
  • In the physical security equipment market, video surveillance had the largest market value of around $20.6 billion in 2018.
  • In the physical security equipment market, Video surveillance has the largest market share at 54%, followed by Entrance control with a market share of 14.1%.
  • To cover the entire spectrum of safety and security of personnel and asset, the application of physical security involves the use of multiple layers of an interdependent system.
  • Security services can be categorized based on Service profile, Activities performed, or the type of Equipment and technology used.
  • The UAE Security Services market is to grow at a CAGR of 13.60% and is expected to reach $19.89 billion by 2022 due to the booming commercial sector and an increasing number of construction projects in the country.
  • The increasing crime rate, the increased growth rate of urbanization, and globalization are key factors in driving the security service market.
  • Security service providers offer many services apart from Manned guarding such as Money and valuables transport, Vehicle tracking systems, Security training, etc.
  • Many security providers manufacture security equipment in-house, like security cameras, alarm devices, and thermal vision devices.
  • Procurement of skilled and unskilled workforce, creating SLAs, and accomplishing SLAs are the main primary activities in a security service value chain.
  • The Threat of new entrants and Rivalry among existing competitors is high, while the Bargaining power of suppliers is low in the Security service industry.
  • Technical factors, consisting of qualifications of personnel, Quality of service, Annual training, and corporate experience, comprised 80% weightage in Buying Decision scorecard.
  • Security service providers generally charge based on a fixed price model, with a markup rate between 10% to 45%.
  • An increasing number of businesses, easy lending standards, and growing private non-residential construction drive the demand for security services.
  • Security service providers have high Product / Service specialization and customization to meet the varying demand of Clients.
  • Cost structure, Proof of license, Management structure, and Description of training programs for security personnel are some of the important information to be collected from vendors during the RFP process.
  • The Security service provider is selected based on their experience and expertise in the buyer’s industry and the type of services provided.
  • Employee training, Employee turnover, and Insurance & Benefits for workers are important aspects of selecting a Security service provider.
  • The Internet of things, Drone surveillance, and Artificial intelligence combined with Robotics will play a key role in the future of Security services.
  • Transguard, United Security Group, First Security Group, and Power International are the biggest local security service providers in UAE.
  • Vendors capable of providing Security Services in the UAE region have been listed in this report. Supplier research to find capable vendors for different regions in UAE can also be conducted similarly as may be required.

 

Table of Content:

Content Slide No.
Executive Summary 3
Introduction 4-5
Region-Wise Global Trends in Security Services Market 6
Global Market for Security Equipment and Services by Value and Region 7-8
Market Segmentation 9
Service Profile and Activities 10
Growth Drivers, Key Market Trends, and Driving Factors 11-12
Wage Rate – Security guards 13
Security Activities 14-15
Porter’s Value Chain Analysis for Security Services 16
Porter’s Five Force Analysis 17
Buying Decision Scorecard 18
Buyer Power Score 19
Pricing Model and Price Drivers 20-21
Security Service Characteristics 22
Key RFP Elements 23
Negotiation Questions 24-25
Future Developments 26
Vendor List 27-28
Methodology & Sources 29
Next Steps 30
Disclaimer / Feedback 31

If required EmpoweringCPO can support with additional information and the next steps in executing projects like Security Services. Also, feel free to reach us if a similar report is required for any other category. We can also help your organization with tools like Procurement Dashboard, Spend Analysis Reports, Procurement Intelligence, and Procurement Consultancy.

EmpoweringCPO is a team of experienced sourcing and procurement professionals with hands on experience of having worked with many fortune 500 companies. The company was founded in 2011 and since then has executed multiple strategic sourcing projects and have achieved average savings of 10-12% so far. In addition to Strategic Sourcing their other offerings are Spend Analysis, Procurement Intelligence, Procurement Analytics, Best Cost Country Sourcing, Procurement Outsourcing, Built Operate Transfer, Supplier Diversity, Sustainable Procurement, Tail Spend Management, Item Master Optimization, Collective Buying, Compliance Tracking and Managed Procurement Services.

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Absolutely. We believe in the unique potential of each organization. Share your aspirations, and we’ll craft a procurement narrative that’s exclusively yours, resonating with your goals and ethos.

We’re with you. Beyond strategies, we impart knowledge. Dive into our workshops and training modules designed to kindle the procurement genius within your team.

Data is a goldmine when understood. With our procurement analytics, we turn your raw data into actionable insights, highlighting opportunities for cost savings, efficiency improvements, and strategic decision-making.

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An optimized item master is foundational for efficient inventory management. We refine and standardize your item data, leading to accurate tracking, reduced redundancies, and a smoother procurement lifecycle.

Procurement intelligence goes beyond traditional market research. It offers tailored insights specific to procurement activities—supplier landscapes, pricing models, and risk assessments. With EmpoweringCPO, you get actionable intelligence designed to optimize and elevate your procurement decisions.

Our custom dashboards and tools offer a holistic view of your procurement operations at a glance. By integrating real-time data, performance metrics, and analytical insights, they empower your team to make informed, agile decisions, driving efficiency and value.

Consider us an extension of your team. Our managed procurement service handles the intricacies of your procurement processes, from sourcing to payment. By leveraging our expertise, you gain the freedom to focus on core business functions while enjoying enhanced procurement efficiency.

Supplier diversity enriches your supply chain by integrating businesses from varied backgrounds, ensuring inclusivity. This not only promotes innovation and resilience but also positions your organization as a forward-thinking, socially-responsible entity.

Savings projected after strategic sourcing project should mirror savings achieved and reaslized. Our savings compliance tracking ensures this by validating and monitoring realized savings against set benchmarks and projected savings, infusing transparency and confidence into your cost-saving endeavors.

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You can reach us if you need a customized version of this report. We can also help you with category specific RFP template or with executing end to end Strategic Sourcing project.

Compliance Management Tool

Compliance management is very critical as otherwise the procurement organization may run into a scenario where there is a huge gap between realized savings and reported savings. Many procurement functions estimate large savings numbers when contracts are signed. They also invest significant time and effort in negotiating contracts for necessary goods and services, only to have a third or more of their purchasing dollars flow outside those deals. Some of the obvious fall-outs of non-compliance and maverick purchases are:

  • Very high prices
  • Risk of losing out on volume discounts and rebates

As compared to the current contract that was finalized after the sourcing process, the tool helps in tracking:

  • Vendor Compliance
  • Price Compliance

The objective of this tool is to ensure that the orders are placed only with the vendors that were shortlisted after the sourcing process and at the same price that was agreed upon and negotiated during and after the strategic sourcing process.

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