Vietnam Private Security refers to security services offered by institutions or firms which are private entities and not public bodies such as police or national army. Vietnam private security firms essentially provide Cash Services, Manned Guarding, Personal Protection, Electronic Security Services and Mobile Patrol Security Service among others. The electronic security services are rapidly rising in popularity thus surge the market witnessing a rapid surge in adoption of electronic security services. That is because of cheaper rates of electronic security services compared to manned security services. Rising number of crimes as well as increasing tourism market has led to the growth of the Vietnam private security space. Similarly, growing number of high valuation businesses and individuals has raised the demand for personal protection which includes personal bodyguards. Ho Chi Minh City has highest market prospectus.
AMA Research have segmented the market of Vietnam Vietnam Private Security market by Type, Application and Region.
On the basis of geography, the market of Vietnam Private Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Electronic Security Services Account for Larger Market Share due to Cheaper Costs Compared to Manned Security
Rising Number of Violent Incidents and Crimes such as Murder and Burglary, Growing Number of Businesses as well as Individual Millionaires and Rapidly Rising Tourism Market
Ho Chi Minh City Accounts for Largest Market Prospectus
- Rising Cost of Manned Security
In addition to the aforementioned factor, Rising Number of Violent Incidents and Crimes such as Murder and Burglary
is expected to propel the growth of the market over the forecast period.
Growing economy in Vietnam has led to emergence a lot of small and medium businesses. Similarly, the growth of economy has also attracted foreign investments, foreign entities. The rising tourism industry in the Vietnam have also increased the need for private security. The market of Vietnamese private security is highly fragmented. Major players in the market include T-Force Security, Vietnam Manpower and PMV Security Group among others.
The key Players profiled in the study are T-Force Security (Vietnam), Vietnam Manpower (Vietnam), PMV Security Group (Vietnam), Brink’s Vietnam, Inc. (Vietnam), Night & Day Security Services Co. Ltd., Global Guardian (United States), Secom Co., Ltd. (Japan), Thien Long Group Security Services Co. Ltd. (Vietnam), Vietnam 24H Security Services Co. Ltd. (Vietnam) and Dai Phong Vina 24h Security Service Co., Ltd (Vietnam).