Publication Month: Jul 2019 | Report Code: TIPRE00004024 | No. of Pages: 173 | Category: Electronics and Semiconductor | Status: Published
Geographically, the security screening market is segmented into North America, APAC, Europe, MEA, and SAM regions. Asia Pacific led the security screening market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. The region would continue to generate relatively greater profit, contributing to increase in overseas trade, e-commerce, FDIs, and construction industry. Increasing disposable income has led the masses of the region to opt for airways which impact the scenario airports as well and so contribute towards accelerating utilization of new security systems.
The North America is the second-largest market in the security screening market. Apart from Asia pacific and North America, Europe remains at the third-largest geographic segment in the security screening market. The security screening market heavily depends on changing government standards and budgets. Airports look ahead to deploy new security system to ensure friendly screening processes within less time. In North America, The Transportation Security Administration (TSA) is a US government representative which screens air travelers, to ensure safety of both individuals and mode of transportation in the country.
From last few years, some nations has witnessed incidences that resulted in terrorist attacks owing to weak security checks at various places, including, airports, seaports, railway stations, and hotels, among others. During the past few years, there have been many incidences that resulted in terrorist attacks owing to weak security checks at various places such as airports, seaports, railway stations, and hotels, among others. This factor holds a foremost position in influencing the adoption of security screening.
Construction & infrastructural development is considered to be one of the prime contributions to a country’s socio-economic development. The developing economies worldwide, including India, China, and Brazil, among others, are experiencing a notable growth rate in commercial construction. For instance, China and Japan are investing in the infrastructure sector of the Philippines, Indonesia, Korea, Bangladesh, and Malaysia, among others. Therefore, a significant amount of investment towards infrastructure projects supported by FDIs is expected to provide huge opportunities for security screening companies and thus, positively impacting the security screening market.
The global security screening market by product is segmented into x-ray scanner, biometric systems, explosive trace detector, and electromagnetic metal detector. X-ray scanner segment dominates the security screening market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The ports and borders market also play an important role in driving this market with booming e-commerce industry, globalization of trade, together with increasing regulatory standards will drive the growth in demand for x-ray security scanner as well.
The security screening market by application is further segmented into public places, border check point, government, airport, and others. Airport of the security screening market dominate the application segment and is expected to continue its dominance throughout the forecast period from 2019 – 2027. With an upsurge in the air passenger traffic worldwide and the efforts to lower waiting time on security lanes, more and more x-ray scanners, metal & explosive detector, baggage screening, and other devices are being deployed.
|Market Size Value in||US$ 6.95 Billion in 2018|
|Market Size Value by||US$ 13.64 Billion by 2027|
|Growth rate||CAGR of 7.3% from 2019-2027|
|No. of Pages||173|
|No. of Tables||56|
|No. of Charts & Figures||63|
|Historical data available||Yes|
|Segments covered||Product ; Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Some of the market Initiatives were observed to be most adopted strategy in the global security screening market. Few of the recent market initiatives are listed below:
2019:Iris ID announced its collaboration with GenKey for integrating iris recognition cameras as well as matching engine with the GenKey’s biometric ID platform, for providing an all-in-one solution for biometric verification and registration initiatives.
2019:L3 technologies Inc. acquired MacDonald Humfrey (Automation) Ltd, manufacturer of checkpoint security solutions, to enhance its networked security systems with highly operational and scalable capabilities. This will help the company to enhance their position in security market and create opportunities for the business.
2018:Teledyne ICM developed a new extra slim and light portable X-ray scanner, named FLATSCAN XS, to provide clear, sharp and detailed images of any item at a high speed.
2018:Analogic Corporation and American Airlines collaborate to distribute next generation computed tomography (CT) screening solutions, ConneCT in New York’s John F. Kennedy (JFK) International Airport. Further, ConneCT units deployed at other airports in the United States later in this year.
The List of Companies