The security screening market is poised for remarkable growth, projected to soar at an impressive CAGR of 8.2% and reach a substantial value of US$ 25.70 billion by 2034. This surge is indicative of the increasing importance placed on security measures across various sectors globally.
With advancements in technology and growing concerns regarding safety and security, organizations and governments are increasingly investing in sophisticated screening solutions to mitigate risks and safeguard assets. The robust growth trajectory of the Security Screening Market underscores its pivotal role in fortifying security protocols and enhancing public safety in an evolving landscape of threats and challenges.
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Important Highlights:
- The airport segment will account for the majority of the market share throughout the forecast period.
- Explosive trade detectors at present hold one-fourth of the overall market share, however, X-Ray screening systems and biometric systems are attaining popularity in the global market.
- Russia, India, and China will likely be at the forefront amid the forecast period.
Drivers:
- An increase in the installation of biometric systems in private sector offices will favorably influence market expansion.
- Rising security concerns in aviation and a surge in demand for big-scale security surveillance at public gatherings will bolster installation in the global market.
- Favorable government measures assisting screening devices’ installations to ascertain public safety will remain a prominent market driver.
- Easy accessibility of integrated screening systems owing to technological progressions has allowed vendors to assimilate traditional scanning and screening products, thus fueling market growth.
Restraints:
- The high threat of negative publicity of defense, higher installation costs, and the threat of privacy interruption are likely to restrain growth in the market.
- Strong health effects of full body scanning and competitive pressure on manufacturers will hinder market growth.
COVID-19 Impact on Security Screening Market:
The unprecedented predicament the world is encountering poses a big challenge to the entire aviation sector and its capability to pull through both financially and operationally. The COVID-19 outbreak has dramatically impacted the air transport system, including aviation security screening, which is significant. Security screening will continue to adapt its procedures and processes to assimilate sanitary measures while upholding adequate security levels. Innovation is anticipated to be key in reinstating pre-COVID-19 growth and traffic volumes while applying the requisite sanitary measures.
Leading Key Players:
- American Science and Engineering Inc.
- Analogic Corporation
- Argus TrueID
- Aware Incorporation
- Digital Barriers
- Mangal Security Systems Ltd.
- OSI Systems Inc.
- Smiths Group plc
- LAXTON GROUP
- NEXT Biometric
- Aratek
- NEC Corporation
- Cognitec Systems GmbH
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Security Screening Market Segmentation:
By System:
- X-Ray Screening Systems
- Explosive Trace Detectors
- Electromagnetic Metal Detectors
- Liquid Scanner
- Biometric Systems
- Face Recognition
- Voice Recognition
- Fingerprint Recognition
- IRIS Recognition
By Application:
- Airports
- Government Buildings
- Border Check Points
- Educational Institutes
- Private Office Building
- Malls
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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