Correctional Facilities in the US

Overview

Locked up: Public outcry has forced some facilities to close, damaging revenue

The Correctional Facilities market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Governments will move inmates to privatized facilities to stretch budgets, spurring demand
  • Private prison operators have benefited from state governments’ restricted budgets
  • The crime rate is projected to decrease over the five years to 2021

    • shopping_cartBUY NOW TO READ MORE

    Industry Analysis & Industry Trends

    In light of strong demand for private facilities and services, the Correctional Facilities industry will experience continual growth over the next five years. As federal and state governments looked for low cost ways to house inmates and solve the overcrowding problem, they have increasingly turned to industry operators. In the coming years, governments will increasingly look to privatize facilities and services for cost-effective alternatives to publicly operated correctional facilities. However, there is much industry scrutiny and, if that continues, the industry could face hard times...

    shopping_cartBUY NOW TO READ MORE

    Industry Report - Industry SWOT Analysis Chapter

    The historic overcrowding of the US Prison system coupled with tight state and federal budgets promoted substantial industry growth over the past decade; however, growth slowed in recent years. As tax receipts increase in line with the improving economy, the government pursues more progressive sentencing laws and public opposition to privately run prisons increases, industry growth will be harder to achieve. Similarly, with the Department of Justice recently announcing that it will substantially curbed its use of privately run prisons with the ultimate intention of eliminating its reliance on the industry altogether, the long-term prospects of the industry remain seriously in doubt. This suggests that the industry is overall in the mature phase of its lifecycle.

    ..

    shopping_cartBUY NOW TO READ MORE

    Additional Insights for the Correctional Facilities Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Correctional Facilities Industry are

  • Ability to compete on tender
  • Carrying out all necessary maintenance to keep facilities in good condition
  • Provision of appropriate facilities

    • IBISWorld analysts also discuss how external factors such as Incarceration rate and Government consumption and investment in the Correctional Facilities industry impact industry performance..

    shopping_cartBUY NOW TO READ MORE

    Look under the hood?

    Download a FREE sample report

    Download Sample

    Industry Products

    What is the Correctional Facilities Industry?

    The Correctional Facilities industry consists of operators that own or manage correctional facilities and halfway houses. Services provided by industry enterprises include private janitorial, maintenance, trash disposal, guard and security, mail routing reception, laundry and other services that support operations within correctional facilities. The industry does not include facility support services for other types of establishments, such as military bases or other government facilities.

    Industry Products
    Community Correctional Facilities
    Minimum security
    Medium security
    Maximum security
    Industry Activities
    Ownership and/or management of community correctional facilities
    Ownership and/or management of prisons
    Ownership and/or management of juvenile detention centers

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Incarceration rate
  • Government consumption and investment
  • Crime rate
  • Outsourcing for the Correctional Facilities industry

    • Current Performance
  • Outsourcing to solve overcrowding
  • Consolidation and profit growth
  • Chart: Revenue Growth

    • Industry Outlook
  • Less crime, fewer incarcerations
  • Still bloated
  • Falling profit
  • Establishment and employee growth
  • Public image and risk
  • Table: Correctional Facilities Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Correctional Facilities Industry Lifecycle vs The Economy

    • Products & Markets
    Supply Chains
    Key Buying Industries
  • Justice, Public Order and Safety Activities

    • Key Selling Industries
  • Dentists
  • Educational Services
  • Food Service Contractors
  • Job Training & Career Counseling
  • Municipal Building Construction
  • Primary Care Doctors
  • Psychologists, Social Workers & Marriage Counselors
  • Real Estate Investment Trusts

    • Products & Services
  • Medium security
  • Community Correctional Facilities
  • Minimum security
  • Maximum security
  • Chart: Correctional Facilities Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • State and Local Governments
  • Immigration and Customs Enforcement
  • US Marshals Service
  • Bureau of Prisons
  • Chart: Major Market Segmentation for the Correctional Facilities Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Correctional Facilities

    • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Correctional Facilities Industry

    • Industry Globalization
    Major Companies
    Corrections Corporation of America The GEO Group Inc.
  • Table: Corrections Corporation of America - financial performance
  • Table: The GEO Group Inc. - financial performance

    • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Correctional Facilities Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Correctional Facilities Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Incarceration rate (2007-2021)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Correctional Supervision
  • Monitoring of people on probation, parolees, prisoners and people in jail.
    • Jail
  • A local facility where a person is physically confined while awaiting trial, sentencing or transfer, or while serving a sentence of less than one year.
    • Parole
  • Court-ordered community supervision of a convicted offender following a period of incarceration.
    • Prison
  • A state or federal facility where a person is physically confined and usually deprived of personal freedoms while serving a sentence of one or more years.
    • Probation
  • Court-ordered community supervision of a convicted offender, often in lieu of or after incarceration.

    • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Correctional Facilities:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Correctional Facilities market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Correctional Facilities, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Join IBISWorld today

    Become a Member Buy this report

    Contact Us

    Want to speak to a representative? Call us.

    phone 1-800-330-3772    OR     Inquire Here
    clear