Personal/Executive Security Market Analysis
To perform an analysis of the executive protection and security market. Information to be provided will include top trends, profitability, key players, prevalent delivery models, and COVID impact on the market.
- Trends that were expected in the executive protection industry in 2020 include an increasing focus on personal cybersecurity which is expected to bring in the first executive protection technology officers, more executive protection clients and providers starting to measure quality, and executive protection providers playing a bigger role than ever in corporate travel.
- In the U.S., demand for private contracted security services was projected to expand by 4.2% per year through 2019 to a value of $66.9 billion.
- Gains in this market will result from the "real and perceived risk of crime and by accelerating economic activity, particularly as new businesses form and create new users of security services."
- The Security Magazine notes that the corporate executive protection sector was dominated by traditional military, government, and law enforcement practices, but has now transformed into a professional service that is delivered by specialist partners who have an understanding of how modern corporations work.
- However, it is worth noting that the industry still uses the same operating procedures that were in use 20 years ago where hard and tactical skills continue to form the foundation of most executive protection training curricula.
- Little attention is given to soft skills such as emotional intelligence and familiarity with the inner workings of modern corporations. These skills are important because they can either make or break an EP program in the corporate world.
- The proposed organization of corporate executive protection for the new operating system includes an executive protection manager, executive protection agents, protective intelligence analysts, cyber threat analysts, security operation center seats, and tech support.
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