Discover if the private security industry is growing and what’s driving demand, even during economic uncertainty.
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Many people have asked us, “is the private security industry growing?” more and more over the past few years. With increasing concerns around public safety, business risk, and global/economic uncertainty, private security has quickly shifted from a nice-to-have to a necessity for many organizations, communities, and individuals.
Whether you’re a business owner thinking about hiring a security team, someone considering a career in the field, or simply curious about the current demand, you will be surprised to discover the direction this industry is heading.
At Members In Black Private Security, we’ve seen firsthand how the need for professional and reliable private security guard services has evolved—let’s break it down.
In short, yes, the private security industry is growing—and not slowly. In fact, according to Grand View Research, the global private security services market size was estimated at USD 4.62 billion in 2024 and is projected to reach USD 8.00 billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 9.8% from 2025 to 2030.The private security services industry is experiencing significant growth, particularly within the residential sector, as individuals increasingly seek reliable solutions to protect their homes.
Not only is it projected for significant growth, but the security industry has been doing very well for a while now. The United States accounts for a majority of the global revenue share, accounting for around 58% in 2024. This is all joined by the trend of private security services in apartment complexes and multi-family residences accounting for around 46% of the overall services provided in 2024.
This means security as an overall industry is certainly growing, but specifically as it relates to private residences, homes, and apartments.
There are several key factors behind this growing demand for private security services:
Rising crime rates in certain regions, especially in urban and retail areas, have caused businesses and communities to seek out additional protection. Protection from theft, vandalism, workplace violence, and personal safety concerns, are becoming more relevant and sought after. Thus proving individuals and business owners are becoming more cautious of their assets and security-conscious than ever before.
Law enforcement agencies across the country are facing staffing shortages and budget constraints. As police departments become stretched too thin, private security companies are filling in to provide support for businesses, event organizers, HOAs, and private property owners. Agencies who would usually provide a level of reliable security are now less reliable, as a result parties are turning to independent security companies.
As cities expand and new developments emerge—whether commercial, residential, or industrial—security is required to protect those construction sites. Construction projects, retail openings, and new business parks all contribute to the growing need for security coverage in order to protect the construction zone, expensive and dangerous equipment, unfinished buildings, and frankly to prevent people from injuring themselves while unsupervised.
Private security is no longer limited to manned guards at a gate. With advancements in surveillance systems, remote monitoring, drones, and AI-powered analytics, businesses are now combining physical and digital security in innovative ways. This advancement is attracting more clients with different needs and reshaping what modern security looks like on a day to day basis.
It may seem counterintuitive, but the security industry often becomes even more essential during difficult economic times.
While recessions can lead to budget cuts, they can also increase theft, fraud, and desperation-related crimes. In response, businesses and property managers typically invest more in loss prevention and physical security. It’s not just about reacting to crime—private security is a proactive strategy to minimize risk and liability so the crime never ever happens in the first place.
Additionally, the affordability and flexibility of private security—such as hiring part-time or temporary guards—makes it a practical solution when permanent staffing becomes less feasible due to rising prices increasing payroll costs.
Even in times of rising economic hardships, contrary to what many may think, the security industry at large and demand for such services are actually growing due to many individuals seeking additional protection to protect themselves.
With industry growth also comes increased job opportunities. New private security roles are opening up in every type of environment—from residential buildings to schools, airports, warehouses, and more.
And due to technological advancements, today’s security jobs go beyond traditional patrol roles. There’s growing demand for professionals trained in:
If you’re considering a new career path or second profession, private security offers a stable and rewarding option in a diverse array of locations and areas.
Also, since many security positions are available at both full time and part time schedules, it can make for an ideal part time job for those who want to make extra money away from their full time job for nonregular work hours.
Looking ahead, we expect the industry to continue evolving—both in size and sophistication.
As businesses and individuals become more safety-conscious, they’re seeking trusted companies who offer not just a presence, but a real plan for their business or event.
We also anticipate growth in these specific areas:
Whether you’re a client looking to protect your assets or someone looking to build a career, now is the right time to get involved.
Without a doubt, the industry is growing. The numbers, the demand, and the direction of the industry all point to continued growth in the years ahead.
Private security isn’t just reacting to today’s challenges—it’s preparing for tomorrow’s. The numbers and behavior of the general public all point to a sentiment that the need for private security is more necessary now than ever. Especially in residential areas and apartments, where individuals feel they are less safe even at their homes.
During times of economic hardships, crime may see an uptick, which correlates with an uptick in security services so more people feel safer either at their businesses or in their living rooms.
This is good news for those working in the security industry. Meaning there will be more work to come if you already do or intend to join the industry.
The safety of your business and customers is never something to take lightly. At Members In Black, we take this matter seriously and will ensure that the highest quality of customer service is reached at all times.
