Workforce Demographics
- Over half of US security guards are employed in private industries, not public sectors.
- Around 25% of security guards in the US are women.
- More than 30% of US security guards are 45 years old or older.
- Approximately 24.1% of security guards in the US work part-time.
- As of 2022, over 1.1 million individuals are employed as security guards in the US.
Employment Trends
- Employment of security guards is expected to increase by 3% from 2020 to 2030.
- The top five states for security guard employment in the US are California, New York, Texas, Florida, and Illinois.
- Most security guard companies are small and medium-sized enterprises (SMEs).
- There are around 13,000 businesses in the US security guard industry.
Market Value and Growth
- The US security guard services market was valued at $20 billion in 2021.
- The global security services market, including security guard services, was valued at around $257 billion in 2020.
- The security guard services market in the Asia-Pacific region is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.
Industry Characteristics
- About 43% of security guards in the US work in the investigation and security services sector.
- Nearly 70% of North America’s security services market in 2020 consisted of contract security guards.
- Over 70% of security firms in the US provide armed guard services.
Financial Aspects
- The average hourly wage for a security guard in the US in 2021 was $16.78.
- The annual earnings for a security guard in the US averaged around $35,840 in 2021.
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Technological Impact
- Integrating technologies like CCTV and access control can reduce the need for security guards by up to 20%.
- The demand for security guard services increased for nearly 40% of employers during the COVID-19 pandemic.
Industry Challenges
- The security guard industry faces a high turnover rate, estimated to be as high as 300%.
