Global Vehicle Scanner Market Anticipated to Garner $5,812.3 Million, Growing at a 6.0% CAGR in the 2022-2031 Timeframe [250-Pages] | Acclaimed by Research Dive

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Research Dive

May 08, 2023, 07:01 ET

The global vehicle scanner market is expected to grow primarily due to the growing demand for vehicle scanners. Portable sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031.

NEW YORK, May 8, 2023 /PRNewswire/ --

Global Vehicle Scanner Market Forecast Analysis:

As per the report published by Research Dive, the global vehicle scanner market is expected to register a revenue of $5,812.3 million by 2031 and grow at a CAGR of 6.0% during the forecast period 2022-2031.

Segments of the Vehicle Scanner Market

The report has divided the vehicle scanner market into the following segments:

  • Scanner Type: portable and fixed
    • Portable – Most dominant in 2021
      Portable scanners can quickly and accurately detect threats, contraband, and weapons hidden in vehicles, significantly enhancing vehicle safety inspection accuracy and speed while lowering human resource expenditure. This is expected to push the growth of this sub-segment further.
  • Structure: drive-through and UVSS
    • UVSS – Highest market share in 2021
      UVSS is a low-cost and convenient means of scanning vehicles such as automobiles, buses, trucks, and vans, which is predicted boost the sub-segment in the 2022-2031 timeframe.
  • Application: government and private
    • Government – Most profitable in 2021
      Increasing military spending and installation of safety and security equipment by government authorities for border security are expected to propel the sub-segment forward.
  • Component: camera, lighting unit, barrier, software, and others
    • Camera – Most lucrative in 2021
      The camera plays a major role in vehicle scanners by detecting and alerting about objects or problems, which is anticipated to push the sub-segment forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • North America – Significant market share in 2021
      The growing use of cutting-edge security systems, increasing concerns about security and safety in public places and private facility centers, and a rise in the prevalence of security threats are predicted to propel the market in the forecast period.

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Dynamics of the Global Vehicle Scanner Market

The growing need for more effective security measures that allow ongoing inspection without casing inconvenience to the travelers is expected to make the vehicle scanner market a highly profitable one in the forecast period. Additionally, the increasing number of toll highways worldwide is predicted to propel the market forward. However, a lack of skilled workers and high operating expenses associated with vehicle scanners might become a restraint in the growth of the market.

The increased need for full-body vehicle scanners from government and military facilities is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, growing car scanner systems to prevent boundary trespassing, human trafficking, and smuggling, as well as increasing the accessibility of modern security solutions are expected to propel the vehicle scanner market forward in the coming period.

COVID-19 Impact on the Global Vehicle Scanner Market

The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The vehicle scanner market, too, was negatively impacted due to the pandemic. The largest manufacturer of automobile parts worldwide is China. The pandemic's spread from China limited raw material exports to other countries, impacting industry operations across the globe and hampering the market growth. Furthermore, the market for vehicle remote diagnostic systems declined during the pandemic due to restrictions on the international movement of passenger cars. These factors significantly hindered the market growth amidst the pandemic.

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Key Players of the Global Vehicle Scanner Market

The major players of the market include

  • SecuScan
  • Gatekeeper Security Inc.
  • SecureOne International BV
  • International Road Dynamics Inc.
  • Leidos
  • SCANLAB GmbH
  • Rapiscan Systems
  • Omnitec Group
  • Chemring Technology Solutions
  • Advanced Detection Technology LLC

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in May 2022, Nanodems Corporation, an intelligent platform that effortlessly integrates all physical security components into a single unified platform, announced a technological collaboration with SecureOne International BV. The Nanodems Integration Server is now integrated with UVIScan products due to this technological collaboration. Through this integration, customers will be able to use Nanodem's PSIM software to manage their UVIScan equipment and see threats in combination with their other systems.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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