The market for security inspections is expected to reach US$ 10.27 Billion by the end of 2030, growing at a CAGR of 4.3% from its estimated value of US$ 7.33 Billion in 2022. In 2021, the revenue from security inspection solutions represented 7% of the market for physical security worldwide.
The use of various security inspection systems, including personnel screening systems, checkpoint screening systems, explosives and drug trace detection systems, liquid and radioactive substance monitors, cargo and bag inspection systems, and vehicle inspection systems, has grown in a number of applications, including aviation and commercial security, among others.
The security inspection market refers to the industry involved in providing security inspection services and solutions for various applications such as aviation, transportation, and critical infrastructure. These services and solutions aim to enhance security and reduce the risk of security breaches and threats.
The security inspection market includes products such as x-ray and metal detection systems, baggage and parcel inspection systems, and security screening software. Key players in the market include companies such as Smiths Detection, Rapiscan Systems, and OSI Systems. The market is driven by the increasing need for security and safety in various industries, as well as advancements in technology, which are enabling more advanced and efficient security inspection solutions.
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What Major Trends Are Increasing Demand for Security Inspections?
Growing Adoption of Multi-modal Biometric Systems & Increasing Investments in R&D for Product Enhancement
The main businesses are concentrating on investing in R&D to bring new goods to market and to improve the efficiency, security, usability, and dependability of current products. Vendors can regularly deliver new, high-quality products using effective production techniques thanks to this strategy.
Automated biometric identification systems (ABIS) are being implemented in financial institutions, governmental buildings, enterprises, retail point of sale (POS), and other locations to aid secure confirmation. The dual vision X-ray inspection system upgrade, which is mostly utilised for explosives detection at security checkpoints, is anticipated to drive the global market.
Competitive Landscape
Security inspection solution providers are continuously focused on cost reduction of the product and improved service for consumers by implementing different strategies such as product innovation, partnership, acquisition, and geographical expansion.
- In June 2020, Rapiscan Systems procured an advanced artificial intelligence platform from SYNAPSE TECHNOLOGY CORPORATION, an OSI Systems, Inc. subsidiary. This AI platform helps enhance threat detection, among other concealed and banned items using advanced computer vision and deep learning technologies.
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Categorization of Security Inspection Industry Survey
Security Inspection Market by Product:
- Personnel Screening Systems
- Checkpoint Screening Systems
- Explosives and Drugs Trace Detection Systems
- Liquid and Radioactive Substance Monitors
- Cargo and Baggage Inspection Systems
- Vehicle Inspection Systems
- Others
Security Inspection Market by Type:
- Fixed/Stationary Security Inspection Solutions
- Portable/Mobile Security Inspection Solutions
Security Inspection Market by Application:
- Aviation
- Border Security
- Correctional Facilities and Law Enforcement
- Critical Infrastructure Protection
- Commercial Security
- Others
Security Inspection Market by Service:
- Security Consulting Services
- Installation and Integration Services
- Maintenance and Repair Services
- Security Training Services
- Support Services
Security Inspection Market by Region:
- North America Security Inspection Market
- Latin America Security Inspection Market
- Europe Security Inspection Market
- East Asia Security Inspection Market
- South Asia and Pacific Security Inspection Market
- Middle East and Africa Security Inspection Market
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Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Market Approach
1.3. Demand-side Trends
1.3.1. High Demand for Maintenance and Security Training Services
1.3.2. Consistent Demand for Vehicle Inspection Systems
1.4. Supply-side Trends
1.4.1. Integration of Biometric Technologies
1.4.2. Suppressing Selling Prices Liquid and Radiation Monitors
1.5. Recommendations
2. Market Overview
2.1. Definition
2.2. Segmentation
3. Key Market Trends
3.1. Sentiment and Demand: Flow Chart
3.2. Key Trends Impacting the Market
3.3. Key Success Factors
3.3.1. Discovering and Laying the Foundation
3.3.2. Trial-based Implementation
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