Keeping Guard

Private security and facility management industry has bounced back from pandemic pangs, and is prepping for the big leap

- MANU KAUSHIK

In December, private security and facility management firm Tenon Group’s founder Manjit Rajain was speaking to Microsoft’s global head of security. Rajain figured out during the conversation that the biggest concern of large corporations was tracking health of employees outside office premises. “He said while he can secure people inside the complex, what happens when they go out? The employers are worried about how their employees are interacting outside office,” says Rajain, who is now trying to devise a solution that can track people outside office – only for health reasons. “We have gone to officials at Aarogya Setu. We are asking them to share data of people who have come closer to people I have been tracking,” he says.

Rajain is part of the economy that has, after hurting for some months after the pandemic, seen good growth of late – private security and facility management business. For instance, business research agency Freedonia has estimated that the private security industry is expected to grow at nearly 15 per cent CAGR (compounded annual growth rate) to touch ₹1.6 lakh crore by 2024, doubling from ₹80,000 crore in 2019. Facility management business is expected to grow from ₹1.1 lakh crore to ₹2.3 lakh crore during the period.