Thursday, November 21, 2024
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Security Market Trends Synopsis for 2024

by Clean India Journal Editor
0 comment

The security industry is undergoing a transformative phase in 2024, driven by technological advancements, evolving client needs and labour market challenges. As the physical security landscape continues to evolve, companies providing manned guarding services must adapt to remain competitive and deliver enhanced value. Siddharth Dahiya, CEO, Peregrine Guarding (Tenon Group) outlines the trends shaping the manned guarding sector in 2024 and the roadmap to transforming the industry’s landscape.

The security industry is at the crossroads of innovation and evolution. In 2024,
it’s not just about providing protection, but about integrating advanced technologies, up-skilling our workforce and meeting specialized client needs. By embracing these trends, we ensure that the manned guarding sector remains responsive, resilient, and ready to deliver top-tier security in an ever-changing world.”

Siddharth Dahiya

1. Technology Integration in Manned Guarding

While manned guarding traditionally relies on human presence, the integration of technology has become increasingly essential. In 2024, security companies are leveraging advanced tools to improve efficiency, responsiveness, and overall safety. Key technology trends include:

•     AI-Powered Surveillance: AI-enhanced video analytics systems are helping guards monitor large spaces, detect anomalies and respond to threats more effectively.

•     Drones and Robotics: Drones and autonomous security robots are being deployed to monitor perimeters, especially in large areas, offering increased coverage and real-time data collection.

•     Mobile Guarding Solutions: Mobile apps are revolutionizing reporting and incident management, enabling guards to communicate with control rooms and log incidents on the go.

Technology is complementing the human element in guarding, creating a hybrid approach which enhances both effectiveness and cost efficiency.

2. Labor Shortages and Workforce Challenges

The manned guarding industry is facing a persistent labour shortage, compounded by the nature of the job and competition from other industries. Key workforce trends include:

•     Increasing Wages and Benefits: Companies are offering higher salaries and better benefits to attract qualified personnel.

•     Training and Upskilling: Guards are trained to operate advanced systems and develop skills in technology, conflict resolution and situational awareness.

•     Workforce Management Technologies: Scheduling, performance tracking and workforce optimization software are being used to manage large security teams efficiently. The labour shortage is forcing companies to innovate in how they attract, retain, and manage talent.

3. Demand for Specialized Guarding Services

As security threats become more diverse and complex, clients are seeking guards with specific expertise tailored to the industry needs.

Key specialized services include:

•     Healthcare and Hospital Security: Guards trained in managing hospital environments are in high demand areas, due to heightened concerns about public health and safety.

•     Event Security: Guards at large-scale events are trained in crowd control, access management and identifying potential security threats.

•     Critical Infrastructure Protection: Guards assigned to critical infrastructure require specialized training to address unique security challenges. By offering specialized services, companies can meet the specific needs of high-risk industries and secure lucrative contracts.

4. Growth of Hybrid Guarding Solutions

Hybrid guarding models, combining human and technological elements, are becoming more relevant. Key elements of hybrid solutions include:

•     Remote Monitoring Paired with On-Site Guards: Remote video monitoring systems work in tandem with on-site guards to provide 24/7 coverage and faster responses to incidents.

•     Access Control and Smart Security Systems: Integrating manned guarding with advanced access control systems enhances security and reduces the need for constant human presence.

•     Intelligent Patrol Systems: Automated patrol systems complement human guards by continuously monitoring areas and reporting anomalies.

Hybrid models offer more flexible, scalable solutions which can reduce costs while maintaining high levels of security.

5. Stricter Compliance and Regulatory Demands

Regulatory frameworks and compliance standards are becoming more stringent for manned guarding companies, particularly those operating in sensitive environments. Key regulatory trends include:

•     Licensing and Certification: Governments are enforcing stricter regulations around licensing and certification for security guards

•     Data Protection and Privacy Laws: Guards must be trained in privacy practices to comply with data protection regulations

•     Health and Safety Standards: Guards are expected to follow strict protocols regarding hygiene, social distancing and personal protective equipment (PPE).

These regulatory demands place additional pressure on security firms to maintain compliance while delivering security services.

6. Rising Demand for Eco-Friendly Security Practices

Sustainability has become a growing concern across industries, including the security sector. In 2024, more clients are seeking eco-friendly and sustainable security practices.

Key sustainability trends include:

•     Green Patrol Vehicles: Security companies are investing in electric vehicles and hybrid patrol cars to reduce the carbon footprint.

•     Energy-Efficient Security Technologies: Smart building technologies and low-power surveillance systems are becoming standard in new installations.

•     Sustainability Certifications: Companies are seeking certifications that demonstrate their commitment to sustainability. This shift is driven by both regulatory compliance and evolving expectations of environmentally conscious clients.

In conclusion, the manned guarding industry in 2024 is marked by a blend of technological innovation, labour market pressures, specialized services and evolving regulatory standards. Companies in this sector must adapt to the changing landscape by embracing hybrid security models, offering specialized guarding services and navigating stricter regulations. The integration of technology, combined with a well-trained and responsive workforce, will be key to remaining competitive in a market where client demands are increasingly complex and diverse.

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