Bangladesh Security Industry: Growth Trends & Outlook

A Market on the Rise

Bangladesh's private security sector is projected to reach BDT 4,200 crore by 2027, up from BDT 2,800 crore in 2023 — a compound annual growth rate of roughly 11%. This expansion is driven by rising urbanisation, growth in industrial zones, and increased awareness of workplace safety regulations.

The garment and manufacturing sector remains the largest employer of private security, accounting for nearly 38% of total contracts. However, the banking and financial services segment has grown fastest in the past two years, reflecting heightened concerns around cash-in-transit and ATM security.

Regulatory Landscape

The Private Security Services Act (2023) introduced new licensing requirements, mandatory training standards, and a national registry of certified security companies. While this has raised the cost of compliance, it has also raised the floor on service quality and weeded out substandard operators.

Regulation, when well-designed, benefits the industry by creating a level playing field and raising client confidence.

SGS was among the first 15 companies to receive full certification under the new framework. We view compliance not as a burden but as a differentiator in a competitive market.

Outlook for 2026–2027

We expect continued demand growth, particularly in the healthcare, logistics, and e-commerce segments. The proliferation of large distribution centres and cold-chain facilities will require sophisticated perimeter security and access control — areas where SGS is actively developing specialised service packages.