10 Apr X-ray screening and biometric systems now make up over half of global security screening market
As indicated by a newly launched research report, approximately US$ 7.8 billion market for security screening is highly likely to approach the revenues worth US$ 10 billion in the next two years.
More than half of the total demand for security screening is being accounted by the developed regional markets. East Asia however is cited as the most lucrative market for investors in security screening systems and solutions.
Rapid growth in the economy, necessitating increasing expenditure on the national and infrastructural security, will continue to push deployment of reliable and advanced technology enabled security screening systems.
While analysis identifies an impressive rate of adoption within emerging economies, China, India, and Russia are more likely to be at the forefront of this growth, in the security screening market, says the report.
Over 2/5th’s of the global security screening demand is accounted by airports, which will remain the dominant application area for security screening systems manufacturers and suppliers.
As government buildings are highly vulnerable owing to the voluminous sensitive information that they procure, public recreation areas such as malls are also cited as the next sensitive area for implementation of effective security screening. Screening technology for border check points are also expected to become lucrative through coming years.
Explosive trace detectors, currently accounting for nearly 1/4th share of the total sales of security screening systems, will reportedly witness strong growth in demand. According to the report, x-ray screening systems and biometric systems are also highly popular among the end-use application areas in security screening market.
The collective market value share of security screening systems is just-under 50% and the report expects attractiveness of the latter to surge – with growing adoption of fingerprint and face recognition technologies.
Airports have been accelerating the industry’s shift to smart security screening solutions. A combined initiative of Airports Council International (ACI) and the International Air Transport Association (IATA), smart security is emerging as a streamlined solution for airlines, passengers, and their belongings.
For details of the full report visit: https://www.futuremarketinsights.com/reports/security-screening-market