Press Release - October 2026

• The private security market in Spain continues to grow, driven by rising demand and technological development, with the systems business the main driver of activity. Aggregate revenue at companies in the sector rose 6% in 2025, reaching €6.74 billion.

• Turnover growth forecasts point to additional growth of around 5% in 2026, implying a moderate slowdown amid a less favourable economic environment.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Security Services' Sectoral Report.

Madrid, 8 October 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory—a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal—in 2025 security services companies posted turnover in Spain of 6.740 million euros, up 6.0% year-over-year, after growth of 7.4% in the previous year.

Although it eased, revenue growth in the last year continued to be underpinned by strong demand for security systems, amid ongoing technological innovation and improvements in products and services, and, to a lesser extent, by security guard services.

Revenue generated by operators in the sector's guarding segment amounted to 3.375 million euros in 2025, up 4.7%, accounting for 50.1% of the total. Meanwhile, revenue from the installation, maintenance and ARC connection of electronic systems increased by 8.4% that year, to 2.992 million euros (44.4% of the total).

This latter activity area has consolidated its position as the main driver of business growth, supported by the rollout of new technologies, equipment renewal and integration, and the development of alarm services and remote monitoring.

Cash-in-transit services faced an environment marked by the expansion of electronic means of payment and the transformation of the banking business, generating revenue of 373 million euros in 2025, down 0.5% year-over-year, with a 5.5% share of the total.

Outlooks for the private security market remained favourable for 2026-2027, although growth is expected to moderate gradually. Revenue is expected to rise by around 5% in 2026, with systems again standing out as the most dynamic area.

While the structure remains fragmented in terms of the number of authorised companies, the business shows high concentration among leading operators. The top five operators jointly held 58% of total market value in 2025, with the top ten accounting for 72%.

Data Synthesis

(a) corresponds to turnover in Spain.