DUBLIN--(BUSINESS WIRE)--The "Security Screening Market to 2027 - Global Analysis and Forecasts By Product; Application" report has been added to ResearchAndMarkets.com's offering.
The global security screening market was valued at US$ 6.95 Bn in 2018 and is expected to reach US$ 13.64 Bn by 2027 with a CAGR growth rate of 7.3% in the forecast period from 2019 to 2027.
The worldwide air passenger traffic is rising at a significant pace owing to increasing middle-class population in emerging markets and growing per capita income. The global air passenger traffic is expanding at a considerable pace due to an increasing middle-class population in emerging markets and rising per capita income.
Also, a rise in the number of infrastructural projects such as the construction of commercial buildings, renovation of existing airports, and others is also projected to benefit both manufacturers and provider of security screening systems. However, rising concern associated with X-ray radiations is expected to hinder the growth of full-body x-ray scanners and so security screening market in the coming years.
Nevertheless, the emergence of technologies such as nanotechnology X-ray is forecasted to boost the significance of x-ray scanners among commercial and public places. The factors mentioned above are responsible for influencing the overall outlook of security as an area of the field.
In the context of the digitization and technological advancements, the scenario of the aviation industry is evolving. The security screening market consists of some gigantic and international players across the globe, which helps in stimulating FDIs.
For instance, the Government of India designed a new FDI policy in 2017 under which many amendments were applied such as, the Reserve Bank of India has announced 100% FDI under automatic route for the construction development sector. FDIs to boost construction sector eventually contribute towards the growth of security screening market as well.
In the global security screening market, Asia Pacific holds the largest market share in the market and is anticipated to grow with the highest CAGR during the forecast period. Pertaining to high growth of industrialization and commercialization, the construction industry is experiencing a tremendous boom in its path. Growing demand for construction among Asian countries would result in more number of a commercial building. Henceforth, would help in help in booming the adoption of security-related products and systems.
The security screening market globally is segmented by product into the x-ray scanner, biometric systems, electromagnetic metal detector, and explosive trace detector. Geographically, the security screening market is divided into five regions, including North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
Key Topics Covered:
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Security Screening Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Security Screening Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increase in the global air passenger traffic resulting in the expansion of airport infrastructure
5.1.2 Persistent and evolving attacks resulting in loss of human life
5.1.3 Booming e-commerce industry resulting in increased cross-border transactions
5.2 Key market restraints
5.2.1 Health concerns related to X-ray radiations hampering the growth of full-body X-ray scanners
5.2.2 Discrepancies in the Security Sector
5.3 Key Market Opportunities
5.3.1 Rising Development of Urban Infrastructure
5.4 Future trends
5.4.1 Emerging Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Security Screening Market - Global Market Analysis
6.2 Global Security Screening Market Revenue and Forecasts To 2027 (US$ Mn)
6.3 Market Positioning - Global Top 5 Players Ranking
7. Security Screening Market Analysis - By Product
7.2 Security Screening Market Breakdown, By Product, 2018 & 2027
7.3 X-Ray Scanner
7.4 Biometric Systems
7.5 Electromagnetic Metal Detector
7.6 Explosive Trace Detector
8. Security Screening Market Revenue and Forecasts to 2027 - By Application
8.2 Security Screening Market Breakdown, By Application, 2018 & 2027
8.3 Border Check Point
8.5 Government Application
8.6 Public Places
9. Security Screening Market - Geographical Analysis
10. Industry Landscape
10.2 merger & acquisition
10.3 Market Initiative
10.4 New Development
11. Company Profiles
- Aware, Inc.
- Anviz Global
- Analogic Corporation
- Iris ID, Inc.
- L3 Security & Detection Systems
- Magal Security Systems Ltd
- Nuctech Company Limited
- OSI Systems, Inc.
- Smiths Detection Inc.
- Teledyne ICM (Teledyne Technologies Incorporated)
For more information about this report visit https://www.researchandmarkets.com/r/z9q74f