Global security screening market size was US$ 6.96 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 5.10% during the forecast period.
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The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global security screening market Definition
Security screening is one of the most essential security process or models that is used at public places such as railway stations, airports, government offices, and others. Security screening is basically used to detect illegal objects such as liquor products, weapons, metal objects, illegal drugs, and many others.
Global security screening market Dynamics
A growing tour and tourism activities and increasing concerns related with public security at public and private places is major driving factor behind the growth of the market. Rising risks of terrorism, rising demand for advanced surveillance at public gatherings, expansion of security systems in aviation industry, escalating need for biometrics systems in private sectors, rising adoption of government regulations concerning public safety and massive availability of various tracking and scanning equipments are expected to improve growth of the market during the forecast period. Additionally, growing technological advancements in 3D technology for checkpoint security is propelling the growth of the market.
However, high cost associated with full body scanners, possibility of side effects due to full body scanning and risks of privacy intrusion are major restraining factors that could hamper the growth of the market.
Global Security Screening Market: Segmentation Analysis
By application, the airport segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. The global aviation industry has been seeing ample growth from the past few years. Growing number of passengers along with rising travel and tourism activities and rapid adoption of advanced security screening solutions at various international and national airports is attributed to the growth of the market. Travel and tourism is the one of the most significant sector for job creation and economic development across the world. According to MMR study, in 2018, travel and tourism sector contributed US$8.8 trillion to the global economy and accounts for 10.4% of global GDP. Also, growing technological advancements in standard security screening methods in order to comply with the new global COVID-19 sanitary guidelines is further expected to witness fast growth during the forecast period.
Global Security Screening Market: Regional Analysis
Region-wise, Asia pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, Japan, India, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the wide scale adoption of advanced security screening solutions across the public transport paces such as airports and railways.
Increasing advancements in security screening system considering current situations like COVID-19 pandemic is driving the growth of the market in the region. Furthermore, increasing number of airport and sightseeing infrastructure and growing adoption of biometric security systems at private sector enterprises is propelling the growth of the market.
In 2018, Asia pacific is the fastest growing region in terms of Travel & Tourism sector. China alone accounted for the one quarter of global travel and tourism sector in 2018. Therefore, rising market for travel and tourism sector across the APAC region is ultimately leading to the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global Security Screening Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Security Screening Market dynamics, structure by analyzing the market segments and projects the Global Security Screening Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Security Screening Market make the report investor’s guide.
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The Scope of Global Security Screening Market: Inquire before buying
Global Security Screening Market, By Product
• X-ray screening system
• Explosive trace detectors
• Electromagnetic metal detectors
• Shoe scanners
• Liquid scanners
• Biometric systems
Global Security Screening Market, By Application
• Government organizations
• Border check points
• Educational institutes
• Private sectors
• Public places
Global Security Screening Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Security Screening Market, Key Players
• American Science and Engineering, Inc
• Analogic Corporation
• Argus Global Pty Ltd
• Aware Incorporation
• Digital Barriers plc
• Implant Sciences Corporation
• Magal Security Systems Ltd
• OSI Systems, Incorporation
• Safran SA
• Smiths Group plc
• L3 security and detection system
• 3DX-ray Ltd
• Astrophysics, Inc
• Kromek Group plc
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