Asia Pacific Security Screening Market Analysis and Forecast to 2027 by Product, Application and Country

Asia Pacific Security Screening Market to 2027 - Regional Analysis and Forecasts by Product (X-Ray Scanner, Biometric Systems, Explosive Trace Detector, Electromagnetic Metal Detector); Application (Border Check point, Airport, Government, Public Places, Others)

  • Report Code : TIPRE00006472
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 159
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Security screening market in the Asia Pacific is expected to grow from US$ 2.40 Bn in 2018 to US$ 5.61 Bn by the year 2027 with a CAGR of 9.4% from the year 2019 to 2027.

The rise in the air passenger traffic has led to the expansion of airport infrastructure and increased cross-border transactions owing to rapid growth in the e-commerce industry are the key factors driving the growth of the security screening market. Moreover, the growth of the infrastructure sector in developing economies is anticipated to boost the security screening market growth in the near future. Construction & infrastructural development is considered to be one of the prime contributors to a country’s socio-economic development. The developing economies worldwide, including India, China, and Australia, among others, are experiencing a notable growth rate in commercial construction. This has resulted in the development of new commercial construction, including shopping malls, railway stations, commercial complexes, hotels, and hospitals, among others. Moreover, these economies are attracting FDIs for their infrastructural growth, which is further propelling the infrastructural development. Also, governments of China and Japan are investing heavily on the development of the infrastructural sector of other developing economies of Asia Pacific. For instance, China and Japan are investing in the infrastructure sector of the Philippines, Indonesia, Korea, Bangladesh, and Malaysia, among others. The growth in the infrastructure sector of these economies will further create a demand for enhanced security and deployment of X-ray scanners. This, in turn, is anticipated to propel the growth of security screening market.

Security screening market by product is classified into x-ray scanner, biometric systems, electromagnetic metal detector, and explosive trace detector. The x-ray scanner segment led the security screening market in the year 2018 with the highest market share and is expected to flourish its dominance during the forecast period. On the other hand, the electromagnetic metal detector segment has the second-highest market share in 2018 and is expected to have stable growth in the near future. In the present scenario, the electromagnetic metal detector is utilized to detect varied Products of metallic devices such as guns, bombs, brass knuckles, knives, and others for security purpose. To evade the occurrence of any unauthorized and illegal entry of the metallic objects along with the luggage bags of the individuals, the adoption of electromagnetic metal detector is rising. Moreover, adoption of electromagnetic metal detector is frequently rising at public spaces such as schools, transportation terminals, courts, and others. Also to protect world leaders, sports & cultural events.

China dominated the security screening market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. The Chinese government is highly focused on the development of its infrastructure and has taken several measures to support the development. For instance, the country’s central government intensely pushed fiscal incentive in the form of infrastructure investments recently for sustaining economic growth. Also, China’s 13th Five Year Plan is focused on increasing investments in the country’s infrastructure. Further, the construction of the second international airport in Beijing is planned to be completed by 2019. The figure given below highlights the revenue share of the rest of Asia Pacific in the security screening market in the forecast period:

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

ASIA PACIFIC SECURITY SCREENING MARKET SEGMENTATION

By Product

  • X-Ray Scanner
  • Biometric Systems
  • Explosive Trace Detector
  • Electromagnetic Metal Detector

By Application

  • Public Places
  • Border Check point
  • Government 
  • Airport
  • Others

By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

Security screening Market - Companies Mentioned

  • Aware, Inc.
  • Anviz Global
  • Analogic Corporation
  • Astrophysics Inc.
  • L3 Security & Detection Systems
  • Magal Security Systems Ltd.
  • Nuctech Company Limited
  • OSI Systems, Inc.
  • Smiths Detection Inc.
  • Teledyne ICM (Teledyne Technologies Incorporated)
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, China, Japan, South Korea

The List of Companies

  1. Aware, Inc.
  2. Anviz Global
  3. Analogic Corporation
  4. Astrophysics Inc.
  5. L3 Security & Detection Systems
  6. Magal Security Systems Ltd.
  7. Nuctech Company Limited
  8. OSI Systems, Inc.
  9. Smiths Detection Inc.
  10. Teledyne ICM (Teledyne Technologies Incorporated)

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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