Northbrook, IL 60062 -- (SBWIRE) -- 07/29/2022 -- The security screening market was valued at USD 7.5 billion in 2021; it is expected to reach USD 10.1billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The growth of the security screening market is primarily driven by the increasing criminal activities, growing need for large-scale surveillance at public places, and increasing demand in the private sector.
The Security screening market is dominated by players such as Smiths Detection (UK), OSI Systems (US), Leidos (US), Thales (France), and NEC (Japan).
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Security screening market in APAC to hold the highest market share from 2021 to 2026
The security screening market in APAC is estimated to grow at the highest CAGR due to combat the increasing instances of terrorism, smuggling, and other unlawful activities. APAC also hosts a lot of public events,due to which the need for security screening products is expected to increase in the region.In recent years, several APAC countries, such as India, Sri Lanka, and Australia, have experienced terrorist attacks. These attacks have compelled the governments in these countries to upgrade their security measures by investing significantly in developing and installing security systems.
Market for electromagnetic metal detection technology to grow at the highest CAGR during the forecast period
Electromagnetic metal detectors detect the presence of metals on individuals and in their belongings. Due to the increase in criminal activities, metal detectors with high operational and functional performance are required for inspecting people. These detectors alert the security personnel if an individual possesses dangerous objects such as knives or weapons. Metal detectors are also used at public places such as shopping malls where public safety is necessary. The increasing deployment of metal detectors in public and private sectors is expected to drive the growth of the electromagnetic metal detectors segment during the forecast period.
Security screening market for people screening application to hold the highest market share from 2021 to 2026
People screening has been one of the key uses of security screening systems at different places such as airports, shopping malls, hotels and resorts, and corporate offices.The use of X-ray systems, metal detectors, body scanners, biometric systems, and spectrometry & spectroscopy solutions is common for people screening.Deployment of facial recognition and iris recognition solutions at places such as transit points, border checkpoints, government offices, and critical infrastructure is another reason for the high market share of biometric systems for people screening.
Security screening market for transportation sector to hold the highest market share during the forecast period
The rising passenger traffic has made it essential to regularly and rigorously inspect people, cargo, baggage, and vehicles. Individual and baggage screening is very important at airports and other transit locations, while cargo screening plays an important role in preventing illegal activities at seaports. Many countries are focusing on installing security measures at airports, bus depots, and train stations due to the increasing incidents of terrorist attacks and crimes. Massive growth in the global shipping industry and widespread adoption of containers enabling globalization have brought security threats to the ports and harbors worldwide. Such security threats across transortatinon sector is expected to fuel the demand for security screening products and solutions.