Regarding security legislation, the Government approved measures in 2022 requiring licensed late-night bars and nightclubs to have CCTV on the premises and full PSA accreditation for security staff
Ireland’s private security industry achieved a record turnover of €963 million in 2022, fuelled by increased demand for security guards and electronic security features, according to new data from the Private Security Authority (PSA).
The PSA’s latest annual report, a body under the Department of Justice, reveals that the industry generated €962.9 million last year, marking a 7% increase from the €902 million in 2021. More than half of this revenue, €27,300, was allocated for the provision of security guards to the private sector.
Additional roles for security guard tasks, such as monitoring alarm systems and CCTV feeds, brought in €61.8 million and €20 million, respectively. Furthermore, €4.6 million was earned by 46 contractors providing security at individual events, according to the authority’s statistics.
In total, the private security industry’s turnover has grown by 23% since 2019, reaching €781.6 million. Clients paid €302.4 million for electronic security services, covering access control device installation, CCTV, and intruder alarm systems.
Bouncers for licensed premises, employing 10,852 individuals and 49 contracting firms, earned a total of €7.7 million in 2022. Meanwhile, four cash-in-transit operators, with 1,017 employees, generated a turnover of €52.9 million over the year.
In a separate sector, 215 locksmith operators earned €20.8 million in 2022, averaging €96,700 in turnover per firm. The private investigations sector, consisting of 62 individuals and 96 contracting firms, received €8.2 million in payments.
2022 marked the first year in which individuals working in the private investigations field, along with event security companies, were required to hold State licenses by the PSA. The regulator reported five successful prosecutions, mainly involving individuals providing security services without a license.
Regarding security legislation, the Government approved measures in 2022 requiring licensed late-night bars and nightclubs to have CCTV on the premises and full PSA accreditation for security staff. The legislation also put an end to Irish landlords processing evictions through unregulated agents. Forced evictions can now only be carried out by licensed security “enforcement” guards, legally authorised to use force if required while executing a court order.
The PSA itself generated €3.4 million in licensing and other fees from the sector in 2022. The authority revoked 36 licenses during the year, a notable decrease from the 164 revocations processed in 2021. Throughout 2022, the PSA did not receive any protected disclosures from its 51 staff members.