2023 U.S. Industry Statistics & Market Forecast - Security Systems Services

Published: September 2023

Industry Insights

The Security Systems Services industry is currently experiencing several key trends that are shaping its future growth and development. One of the most significant trends is the increasing demand for integrated security solutions. Many businesses and institutions are looking to combine physical security measures such as surveillance cameras and access control systems with cybersecurity measures to create a more comprehensive and effective security strategy.

Another important trend is the growing use of artificial intelligence (AI) and machine learning in security systems. These technologies are being used to analyze large amounts of data and to identify potential threats in real-time. AI is also being used to automate many routine security tasks, freeing up human security personnel to focus on more complex and strategic tasks.

The rise of the Internet of Things (IoT) is also having a significant impact on the Security Systems Services industry. As more devices are connected to the internet, there is a growing need to secure those devices and the data they generate. This has led to the development of new security protocols and technologies designed specifically for IoT devices.

Finally, the Security Systems Services industry is also being shaped by changing customer preferences and expectations. Customers are increasingly looking for flexible, scalable solutions that can be customized to meet their specific needs. They are also demanding more transparency and accountability from their security providers, and they expect fast, responsive customer service and support.

Product & Services Breakdown

Research products and services in the Security Systems Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description	Number of Companies	Sales ($ millions)	Percent of Total Sales
Industry Total
Security Guard And Patrol Services
Security Guard And Patrol Services For Buildings And Grounds
Building Security System Services (With Monitoring)
Residential Security System Services (With Monitoring)
Non-Residential Security System Services (With Monitoring)
Building Security System And Lock Installation, Including Repair Services (Without Monitoring)
Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Residential
Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Non-Residential
Key Duplication Services
Resale Of Merchandise
Resale Of Merchandise, Over-The-Counter Or Separate From Services Provided
All Other Receipts
All Other Operating Receipts

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

	Industry Average	Percent of Sales (Industry Benchmark)
Total Revenue	Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit Net Income

Source: AnythingResearch Analysis of U.S. federal statistics

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

Title	Percent of Workforce	Bottom Quartile	Average (Median) Salary	Upper Quartile
Management Occupations	7%	Order at top of page
Chief Executives	0%
General and Operations Managers	5%
Sales and Related Occupations	11%
Sales Representatives, Services	8%
Miscellaneous Sales Representatives, Services	8%
Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel	8%
Office and Administrative Support Occupations	22%
Installation, Maintenance, and Repair Occupations	45%
Electrical and Electronic Equipment Mechanics, Installers, and Repairers	33%
Miscellaneous Electrical and Electronic Equipment Mechanics, Installers, and Repairers	33%
Security and Fire Alarm Systems Installers	32%
Other Installation, Maintenance, and Repair Occupations	9%
Miscellaneous Installation, Maintenance, and Repair Workers	8%
Locksmiths and Safe Repairers	7%

Source: Bureau of Labor Statistics

Security Systems Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Security Systems Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Security Systems Services industry and adjacent sectors:

Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry	Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.	Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Security Systems Services industry.

Executive Briefings

We believe that technology trends are creating significant change in our industry. Innovation has lowered the barriers to entry in home automation, and new business models and competitors have emerged. We believe that a combination of increasing customer interest in lifestyle and business productivity and technology advancements will support the increasing penetration of interactive services and home/business automation. We are focused on extending our leadership position in the monitored security industry while also growing our share of the fast-growing home/business automation industry. The security systems market in the United States and Canada remains highly competitive and fragmented, with a number of major firms and thousands of smaller regional and local companies. The high fragmentation of the industry is primarily the result of relatively low barriers to entering the business in local geographies and the availability of wholesale monitoring (whereby smaller companies outsource their monitoring to operations that provide monitoring services but do not maintain the customer relationship). We believe that our principal competitors within the security systems market are Monitronics International, Inc., Vivint, Inc., Protection One, Inc., Comcast Corporation, AT Adt

Government Contracts

In 2022, the federal government spent a total of $2,161,453,773 on Security Systems Services. It has awarded 4238 contracts to 1105 companies, with an average value of $1,956,067 per company.   

Most Recent Contracts	Date	Total Award Amount
ACME TECHNICAL GROUP LLC 34 Cardinal Dr Fredericksburg, VA	Jun 30, 2023	$2,065,328