3 Top Stocks to Ride the Buoyancy in Security and Safety Services Industry – October 10, 2023
The Zacks Security and Safety Services industry is poised to benefit from strong demand for security and safety solutions prompted by growing concerns of terrorist and criminal activities and the need to safeguard citizens and infrastructure. Improving supply chains and a deceleration in inflation augur well for the industry’s near-term prospects.
Companies like Axon Enterprise (AXON – Free Report) , Brady Corporation (BRC – Free Report) and Lakeland Industries (LAKE – Free Report) are poised to take advantage of the buoyancy in the industry.
About the Industry
The Zacks Security and Safety Services industry comprises companies that provide sophisticated and interactive security solutions and related services, which are meant to be used for residential, commercial and institutional purposes. A few industry players develop electrical weapons for personal defense, as well as military, federal, law enforcement and private security. Some of them provide solutions for the recovery of stolen vehicles, wireless communication devices, equipment for the safety of facility infrastructure and employees, and products for detecting hazards. A few companies provide a variety of services to automobile owners and insurance companies. The industry serves customers belonging to various end markets, including manufacturing, electronics, hospitality, education, construction, telecommunications, aerospace and medical.
3 Trends Shaping the Future of the Security and Safety Services Industry
Demand for Security and Safety Services: Growing concerns of terrorism and criminal activities around the world are promoting demand for security and safety services. Political unrest across countries, prompting governments to safeguard citizens and protect infrastructure, acts as a key growth driver for the industry. With growing urbanization, governments are increasingly focusing on the safety and security of people, assets and the like, thus driving demand in the industry. Thanks to rising instances of hacking, the industry is seeing growing demand for Internet security products and services like firewalls and…
