Increasing cross-border transfer of goods is anticipated to escalate the X-ray security scanner market growth at a CAGR of 5.4%
Published Date : 15/05/2018
Latest market study on "X-ray Security Scanners Market to 2025 by Product Type (Body Scanner and Baggage Scanner); and End-user (Air Transport, Land Security, Commercial Malls and Multiplexes, Government & banks, and Postal Items) - Global Analysis and Forecast?, the X-ray Security Scanners Market is estimated to reach US$ 5.95 billion by 2025 from US$ 3.88 billion in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Asia Pacific is the leading region in the X-ray security scanners market. The e-commerce industry of Asia Pacific region is flourishing attributed to the presence of several in the developing countries in the region. Further, the rising proliferation of internet connectivity and increasing penetration of smartphones is another factor driving the demand for e-commerce in Asia Pacific. Further, the increasing government spending on the infrastructure sector of the region is propelling the deployment of X-ray security scanners in the region.
E-commerce industry is growing rapidly across the globe, with each passing day, a new e-commerce market is coming into existence and the established markets are reaching new heights. E-commerce sales globally is expected to grow fiercely in 2017, it is expected that the market will account for one-tenth of total retail sales worldwide. China and the U.S. are expected to lead the industry with a share of US$ 1.6 Tn in 2017, which is approx. 70% of total e-commerce market. Furthermore, this will increase the growth of cross-border transfer of goods. This would result in deployment of enhanced security equipment for scrutinizing goods that enter or exit the border of the countries. Thus, the demand for X-security scanners is anticipated to increase. This has resulted in increasing air cargo traffic. As per IATA, global air freight market grew by 9% (measured in AFTKs) in 2017, representing over double the annual growth recorded in 2016. The growth in air cargo will result in increased deployment of X-ray scanning devices in ports, cargo facilities, warehouses etc.
Some of the major players operating in the market of X-ray security scanner include Astrophysics, Inc., ADANI, Eurologix Security Group, L3 Security & Detection Systems, NUCTECH COMPANY LIMITED, OSI Systems, Inc., Gilardoni S.p.A., Kromek Group plc, Smiths Detection Inc., and TELEDYNE ICM.
The report segments the global X-ray Security Scanners market as follows:
Global X-ray Security Scanners Market- By Product Type
Cabinet X-ray System
Vehicle and Cargo Inspection Systems
Global X-ray Security Scanners Market- By End-user
Commercial Malls & Multiplexes
Government & Banks
Global X-ray Security Scanners Market- By Geography
Asia Pacific (APAC)
Rest of Middle East
Rest of Africa
South America (SA)