Northbrook, IL -- (SBWIRE) -- 11/26/2021 -- The security screening market is estimated to be worth USD 7.5 billion in 2021 and is projected to reach USD 10.1 billion by 2026, at a CAGR of 6.3 %. The global increase in terrorist attacks and illegal immigration, public gatherings fuel demand for security enhancement solutions and surge in demand for biometrics solutions in the private sector are some of the prominent factors for the growth of the security screening market globally.
COVID-19 Impact on the Global Security Screening Market
The travel and tourism sectors were among the most affected sectors in North America owing to border closures and travel restrictions across the world. This has affected the security screening market. The grounding of flights in North America due to the pandemic has limited the number of visitors in the country, thereby affecting the sales of security screening systems. As per the US Travel Association, the impact of COVID-19 is harsh in the US, with the total economic output at USD 1.5 trillion in 2020, a steep decline from USD 2.6 trillion in 2019. However, the intense vaccination drive has changed the situation in the region, with restrictions being eased. This could facilitate the opening of travel and tourism sectors; however, these sectors are not expected to grow to their pre-pandemic levels any soon.
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Biometric technology held the major market share in the security screening market in 2020
The biometric systems used for security screening include face scanners, fingerprint scanners, and iris scanners. These systems help in the identification of criminals by comparing the scans with the database of existing biometric records. Biometric systems require less time to scan and have more accuracy. Hence, these systems can be used in applications such as access control in offices or buildings, e-commerce, immigration, and border control. The biometric systems segment holds the largest share of the security screening market. Biometric technology has evolved from fingerprint scanners to facial recognition. Thus, its demand is on the rise for security screening purposes to enable authorities to screen a person accurately. The deployment of biometric systems is on the rise at airports and for homeland security purposes.
Security screening market for transportation end use to grow at the highest CAGR during the forecast period
The transportation sector includes transit locations such as airports, seaports, rail stations, and bus stations. The global passenger traffic is expected to increase tremendously by 2025. A large number of passengers pass through these transit locations, and to maintain security at these sites, contraband detection systems, such as metal detectors and X-ray scanners, are used. 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.
Security screening market for baggage and cargo screening application to grow at the highest CAGR during the forecast period
The delivery of mails and parcels is witnessing a boom, especially due to the extensive growth of e-commerce. By the end of 2021, worldwide e-commerce sales are expected to reach almost USD 5 trillion, or 17.5% of all retail sales. With a lot of parcels and small packages moving around owing to the rise in e-commerce sales, parcel screening becomes critical. While convenient for consumers and companies, the huge flow of post and package deliveries to homes and businesses represents a growing security vulnerability. This vulnerability demands the screening of mails and parcels and, hence, could create a huge demand for security screening systems and solutions.
Key Market Players
The major players in the security screening market are Smith Detection (UK), OSI Systems (US), Leidos (US), Thales (France), and NEC (Japan).