With a growing CAGR of 4.76% in 2022-2027, the security screening market is driven by increasing government initiatives for security inspection in schools and colleges, smart cities, and an upsurge in terror activities around the globe.
Source- Mordor Intelligence
Hyderabad, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The demand for security screening is increasing with the rising security threats at various public and critical infrastructures, such as airports, border checkpoints, government organizations, and many others, to help reduce and mitigate associated risk factors. To address such demands, many countries are increasingly spending on new security equipment and upping their security measures across various end-user sectors, further boosting the global demand for homeland security worldwide, which is expected to grow significantly over the forecast period.
The rise of automated border control has driven the adoption of automated security screening systems. For example, United Airlines partnered with TSA (Transportation Security Administration) and added over 60 automated security screening lanes across the airport in the United States. TSA also mentioned that these automated security screenings reduced the security screening time by over 30%.
By the end of 2022, Asia-Pacific is expected to hold the largest market share for security screenings, accounting for approximately 30.5% of the global security screening market, owing to the early adoption of emerging technologies and numerous enterprises investing in R&D activities in the region, collecting the bulk of market revenues, states Ashish Gautam, Research Manager at Mordor Intelligence.
In India, rapid urbanization, population growth, and expansion of industries, infrastructure, and mass transportation systems are driving the implementation of enhanced safety and security measures. The Ministry of Civil Aviation (MoCA), in its 'Vision 2040 for the Civil Aviation Industry in India' report, stated that new airports are likely to be developed in India under the 'NextGen Airports for Bharat (NABH) Nirman' scheme for the next 20 years. This involves the deployment of specific critical infrastructures throughout the forecast period. Elaborating on the expansion of airports in the country, in February 2021, Ministry also said that it will be adding and renovating 100 new airports by 2024. The figures indicate a mammoth opportunity in the Indian civil aviation sector.
Moreover, integrating security screening products with IoT presents lucrative opportunities to extend solutions and service offerings and develop enhanced security solutions. Combining the Internet of Things with security screening products offers advanced connectivity to diverse security systems, such as sensors, access control systems, and other security systems that deliver enhanced security management platforms for smart city projects.
Vendors are developing smart city competency to build and deploy innovative cloud solutions to connect security screening products and solutions in one smart hub, which will drive the market studied. For instance, in October 2022, AWS Partner Network (APN) announced the AWS Smart City Competency, which will deliver AWS Partner recommendations to customers searching to build and deploy innovative smart city solutions.
About Mordor Intelligence -
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics. Get a glance at the Global Security Screening Market or ask for a more customized report.
CONTACT: Company Name: Mordor Intelligence Private Limited Contact Person: Abhishek Email: firstname.lastname@example.org Phone: +1 617-765-2493 Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli City: Hyderabad State: Telangana 500008 Country: India