Table of Contents
Executive Summary
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- Impact of COVID-19 on manned security
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on the manned security market, 27 November 2020
- The market
- Market size and forecast
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- Figure 2: Manned security market size and forecast, 2015-25, (£ million)
- Market segmentation
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- Figure 3: UK manned security market segmentation, 2016-20, (£ million)
- Companies and brands
Issues and Insights
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- Growing digitisation of cash-in-transit to be amplified by COVID-19
- Security system integration will improve the sector’s perceived value while reducing operating costs
The Market – Key Takeaways
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- COVID-19 disruptions drag the manned security market’s value below 2016 levels
- Cash-in-transit segment hit hardest as store closures compound past trends
- Relaxation of COVID-19 restrictions and renewed investment in custodial services to support future manned security activity
- Consumer reluctance and store closures accelerate the declining relevance of cash
- Digital integration will be instrumental to the manned security market’s future appeal
Market Size
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- Indirect effects of lockdown and reduced economic activity drives market size reversal
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- Figure 4: Short-, medium- and long-term impact of COVID-19 on the manned security market, 27 November 2020
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- Figure 5: UK manned security market size, 2016-20, (£ million) [26 November 2020]
Market Segmentation
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- Custodial services overtake cash-in-transit as consumers eschew cash in 2020
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- Figure 6: UK manned security market segmentation, 2016-20, (£ million)
- Manned guarding
- Cash-in-transit
Market Forecast
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- Return of economic activity and COVID-19 management to support future growth
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- Figure 7: UK manned security market forecast, 2020-25, (£ million)
- Figure 8: UK manned security market forecast by segment, 2020-25, (£ million)
Market Trends
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- Card is king as cash payments continue to trend downwards
- COVID-19 and cash usage
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- Figure 9: Volume of cash withdrawn and average withdrawal value, Q1 2017-Q2 2020, (left axis: £ million, right axis: £)
- Growth of contactless payment
- The data revolution is shaping the future of manned security
- Impact of digital transformation security is acknowledged but cost and maturity are still key hurdles for operators to tackle
- Developments in security technology
Market Drivers
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- Supressed high-street activity induced by COVID-19 shrinks growth opportunities
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- Figure 10: Average actual weekly hours of work for full-time workers (seasonally adjusted), 2018-20, (hours worked)
- Impact of COVID-19 on retail and leisure industries will pass-through to the manned security market
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- Figure 11: Business trading status by industry, 1 October – 19 November 2020, (% of businesses)
- Figure 12: Implemented changes to operating hours due to local or national lockdowns by industry, 1 October – 19 November 2020, (% of businesses that have not permanently ceased trading)
- COVID-19 and ATM closures are accelerating a technology-led restructuring of the cash-in-transit market
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- Figure 13: Monthly number of transactions at LINK ATMs, 2017-20, (number of transactions
- Figure 14: Number of LINK ATMs, 2010-H1 2020, (number of LINK ATMs)
- Flurry of investment driven by overcrowding will sustain custodial service market growth
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- Figure 15: UK prison population projections, 2019-23, (total prison population)
- Improving prison service quality and addressing COVID-19 will introduce costs for operators
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- Figure 16: Annual number of assaults in prison in England and Wales, 2010-20, (assaults per 1,000 prisoners)
Companies and Brands – Key Takeaways
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- Divergence in growth between activities highlights digitisation as the driver of future growth
- COVID-19 pressure on cash-in-transit leads to redundancies
Industry Structure
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- Changes in industry structure
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- Figure 17: Analysis of changes in ‘private security’ activities, 2016-20, (number of outlets and businesses)
- Figure 18: Analysis of changes in ‘security system service’ activities, 2016-20, (number of outlets and businesses)
- Structure by employment
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- Figure 19: Analysis of the employment structure of ‘private security’ activities, 2019-20, (number of outlets)
- Figure 20: Analysis of the employment structure of ‘security system service’ activities, 2019-20
- Structure by turnover
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- Figure 21: Analysis of the financial structure of ‘private security’ activities, 2019-20, (number of businesses)
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- Figure 22: Analysis of the financial structure of ‘security system service’ activities, 2019-20, (number of businesses)
Company Profiles
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- GEOAmey PECS
- Recent company activity
- Financial information
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- Figure 23: Financial analysis of GEOAmey PECS, 2014-18
- G4S Cash Solutions (UK)
- Recent company activity
- Financial information
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- Figure 24: Financial analysis of G4S Cash Solutions (UK), 2015-19
- Loomis UK
- Recent company activity
- Financial information
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- Figure 25: Financial analysis of Loomis UK, 2014-18
- Mitie
- Recent company activity
- Financial information
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- Figure 26: Financial analysis of Mitie Group (Security division)*, 2016-20
- Securitas Security Services UK
- Recent company activity
- Financial information
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- Figure 27: Financial analysis of Securitas Security Services UK, 2015-19
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
Further Sources and Contacts
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- Trade associations
- Association of Security Consultants
- British Security Industry Association
- Skills for Security
- International Professional Security Association
- Security Industry Authority
- Trade magazines
- FM World
- Intersec
- Professional Security
- Trade events
- IFSEC International
- Intersec Expo
- International Security Expo 2021
- International Security Week
- Security and Policing 2021
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