The pandemic started its rapid ascent around mid- March causing a great deal of uncertainty about its long term effects on the contract security industry. Although we were able to quantify the status of the security market, with a reasonable degree of certainty, immediately before the pandemic hit; the market today remains a big question mark.
Most owners we surveyed, in preparing this White Paper, indicated an insignificant change in the revenue and/or profits – so far – due to the impact of the pandemic, unless a significant amount of their business was with the “affected industries”. Many reported record revenues and profits due to extra COVID-19 services. However, it’s too early to tell whether the market will decline or continue to grow.
In order not to leave the impression that the present market is an extension of the market as it existed at December 2019, we have labeled certain information as being the status as of that date. We have labeled the post-2019 era information as being the status of the market as it exists now; which is very much uncertain and unquantifiable; and will be guided by many events having to do with the lasting effects of COVID-19, pending or new legislation, and the civil disorder presently running rampant in our country and around the world.
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Website: | Visit Publisher Website |
Publisher: | Robert H. Perry & Associates Inc. |
Published: | September 16, 2020 |
License: | Copyrighted |
Copyright: | © 2021 Robert H. Perry & Associates, Incorporated. |