Security Screening Market to Propel revenue to US$ 15.9 Bn by 2028. Growth is attributed to rising Adoption of Smart Technology in Security Screening Systems | Future Market Insights, Inc.

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Oct 12, 2022, 09:30 ET

North America is projected to be a key region in implementing security screening technologies. High Threat of Terrorism Activities Driving Use of Security Screeners in the U.S. The Transportation Security Administration is responsible for security activities in the U.S.

NEWARK, Del., Oct. 12, 2022 /PRNewswire/ -- The global security screening market is expected to create an absolute dollar opportunity by exhibiting an impressive CAGR of 7.4% over the assessment period from 2022 to 2028. The global market is expected to close in on US$ 10.4 Bn in 2022 and is predicted to surpass a valuation of US$ 15.9 Bn by 2028.

According to Future Market predictions, a comparison and review analysis took place for the dynamics of the security screening market. The analysis revealed that the BPS values noted in the security screening market in H1, 2022 – O (Outlook) over H1, 2022 (P) predicted reflects a growth of 50 units.

In the advent of escalating terrorist threats, it is the need of the hour to avoid unethical and criminal behaviors. Over the last decade, the global security screening industry has seen rapid growth because this market comprises both, physical security and IT security. At present, security screening system sales account for a 10% share of the global physical security market.

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Key Takeaways

The security screening market escalated at a CAGR of 6.5% over the historical period from 2013 to 2021. The surge in the adoption of smart technologies associated with security screening in developing nations is anticipated to create new development possibilities for security screening solution providers.
Over the coming years, security screening technology is anticipated to rise rapidly over the forthcoming years with new and creative technologies including the creation of web-based applications to support higher operational availability of equipment, smaller equipment size, and increased mobility and flexibility. Such advancements in technologies will aid market participants to develop smart security screening devices.
All these factors mentioned are anticipated to improve system uptime and enhance detection capabilities while simultaneously lowering lifespan costs. Over the recent years, the security screening systems market is projected to gain immensely from these advantages provided by tech advances.
Surging growth in economies is making it necessary to increase expenditure on national and infrastructural security, which will continue to push the deployment of reliable and advanced technology-enabled security screening systems.
Security screening demand is expected to bolster at a phenomenal CAGR of 7.4% from 2022 to 2028. The market is anticipated to recover from the Covid-19 crisis and rise at the predicted growth rate to end up with an estimated net worth of US$ 15.9 Bn by 2028.
The global rise in air traffic propels the demand for efficient biometric security systems at transit points and facilitates the growth of the security screening market. In addition to that, the surge in fraudulent and illegal activities has intensified the need for such physical security systems.

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Competitive Landscape

Technological advancements are expected to create new options in order to integrate infrastructural security with the Internet of Things. Some of the prominent providers of security screening platforms are focusing on providing automated security screening systems with advanced features. Manufacturers of security screening systems and integrated service providers are collectively working on the installation of security screening systems to provide enhanced security to infrastructure. System providers are also concentrating on the development of security screening devices with the help of advanced technologies.

More Insights into the Security Screening Market

The U.S. has witnessed a sharp rise in the security screening market over the past few decades. It is expected to dominate the North American market and the growth is attributed to increased terrorist activities worldwide. The rising need for security has driven demand for security screening equipment in the region, especially in the United States.

Government rules are working in favor of boosting the security screening systems by encouraging the installation of screening systems in order to drive public safety. Security concerns are on the rise and increased demand for large-scale security surveillance during public gatherings is projected to boost the installation of security screening systems.

The Chinese security screening market at present accounts for a massive portion of the global security screening industry. Demand for security screening products has seen an impressive surge all over the world and China is leading the market by installing security scanners at some of the most sensitive spots across the country.

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Key Segments of Security Screening Industry Survey

Security Screening Market by System:

X-Ray Screening Systems
Explosive Trace Detectors
Electromagnetic Metal Detectors
Liquid Scanner
Biometric Systems

Face Recognition
Voice Recognition
Fingerprint Recognition
IRIS Recognition

Security Screening Market by Application:

Airports
Government Buildings
Border Check Points
Educational Institutes
Private Office Building
Malls
Others

Security Screening Market by Region:

North America Security Screening Market
Latin America Security Screening Market
Europe Security Screening Market
East Asia Security Screening Market
South Asia & Pacific Security Screening Market
Middle East & Africa (MEA) Security Screening Market

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

5. Market Background

5.1. Macro-Economic Factors

5.2. Forecast Factors – Relevance & Impact

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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