Global Security Screening Systems Market Will Grow Steadily And Post A CAGR Of More Than 10% By 2025
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Security screening market is considered as one of the most important sectors as it involves the individual’s security at places such as airports, railways, stadiums, public places, border checkpoints, government applications, and private sectors, among others. Security screening helps to avoid financial, economic, and human loss. There has been an increase in unethical and unlawful practices in the world and this can be controlled with the help of the security screening products such as full body X-ray scanners, explosive trace detectors, electromagnetic metal detectors.
It is predicted that the global security screening systems market will grow steadily and post a CAGR of more than 10% by 2025. This market research analysis identifies that the emergence of computed tomography security screening will be one of the major trends that will gain traction in this market during the predicted period. Computed tomography or CT is an imaging procedure that creates detailed pictures or scans of areas inside the body with the help of a specialized X-ray equipment. It can also combine radiographic cross-sections of contents and produce composite 3D images of baggage contents. This helps to detect threats based on volume and density and offers airport authorities a more detailed view of the baggage. This security screening equipment will reduce the screening time and also does not require travelers to separate electronic devices from their baggage.
In terms of geography, The security screening market is expected to witness more demand in the APAC region followed by North America as compared to the Europe and the Rest of the world, in the coming years. APAC is expected to grow ata CAGR of 12%, followed by North America, with a CAGR of 6% from 2018 to 2025. The total requirement of security screening is more in APAC as compared to other regions due to reasons such asthe increasing number of terrorism and unlawful activities, greaternumber of public places and private sectors, among others. It is worth mentioning that the rapid development of the Chinese market in recent years, the main driving factor is the rapid development of the region's high-speed rail and subway industry.
Vendors in the security screening systems market are mainly focused on expanding their product portfolio. They are constantly investing in their R&D and concentrate on developing advanced technologies to upgrade their existing security detection systems for better accuracy. The market is characterized by the presence of several small and large scale vendors and the vendor competition in the market appears intense. The forecasted period will witness the entry of several new players in the market and this will further intensify the competition among vendors.
We estimates that the x-ray segment accounted for almost 51% of the total share and dominated the security screening systems market during 2015. X-ray radiations have the ability to scan items underneath several layers of materials, which makes them more reliable in scanning both people and products. This will be a major factor that will provide for the continuous demand for x-ray security systems throughout the forecast period.