In a recently published report, Global Security Screening Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Security Screening Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Security is becoming one of the biggest concerns for governments all over the world. Security screening refers to the screening of individuals and their belongings in order to avoid economic, financial and personal loss in the future. This is generally done at public places like airports, railways, border checkpoints, banks among other places which either has a large influx of people or mean a lot for the government in terms either security or economy. Each country is developing more and more security screening products to counter the terrorist activities that have been rising recently. After the 9/11 attack in the USA and the 2008 attack in Mumbai, the whole world is made aware that no place is safe. So even the private commercial entities are investing a lot in security screening assets to safeguard their assets.
Security Screening market consists of several products like explosive trace detectors, electromagnetic detectors, X-ray detectors among others where each employs a different variety of technology. The main users are all the government bodies and large privately owned institutions who want to safeguard their assets against unethical and unlawful practices.
Instead of using a single type of technology, the market is currently focusing on integrated screening systems. Hence, vendors in this market are continuously trying to update their product mix through innovation and constant research. They continuously spend on R&D to advance their technology for better detection of any unethical practice. Currently, the demand for an x-ray radiation security system is on the rise owing to its ability to see through many layers of materials. An increase in the number of airports and other important public places all over the world along with the growing acts of terrorism is guiding this sector forward at a tremendous pace. On the other hand, the success of this market is restrained by the harmful effects of radiation on the human body, fear of privacy interruption, high installation cost and negative publicity of defence.
The global security screening market is segmented on the basis of the type of product, application and geography.
On the basis of the type of product used, the market is segmented into: –
Electromagnetic metal scanners
Explosive trace detectors
On the basis of place of application, the market is segmented into: –
Private commercial places
On the basis of geography, the market is segmented into: –
Rest of the world
The current market is dominated by the USA owing to their strict security protocols and their immense expense on security owing to the recent terrorist attacks. But the APAC region is expected to grow at the highest rate closely followed by the USA in the upcoming future. Europe is also a promising market owing to a large number of developed companies with huge pockets to spend on these expensive security screening systems.
The security screening market runs on innovations. Every company tries to innovate better product through their research to get a head start from their competitors. This sector has a strong correlation with the information and communication technology sector. It is due to the advancement of technology in the radiation and sensor field that today we have contactless detection systems. Thus, the market players are constantly working towards new product offerings and hence the future of the security screening market is very bright as the advancement in technology knows no bounds.
The key players in the market include Safran, American Science and Engineering, OSI Systems, Smiths Group, Digital Barriers among others.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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