Current growth of Security screening market segments
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.
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Driver: Surge in demand for biometric solutions in private sectorMany organizations implement biometrics technology for physical and logical access control to mitigate the risks associated with data theft. IT companies, in particular, are playing a crucial role in the growth of the biometrics market. In IT companies, biometric technologies are mainly used to provide access control, register attendance of employees, and stop the theft or leakage of crucial information. In the case of biometrics, the person does not have to remember the passwords or carry anything to prove his/her identity.
Opportunity: Inclusion of artificial intelligence to bring digital transformation in security applicationsAdvanced technologies such as AI and IoT will not only reduce the screening time but also ensure accurate detection of contraband items in baggage and cargo. Governments from various countries have been investing in new AI-based security systems. The UK government has invested USD 2.37 million (GBP 1.8 million) for the development of AI-based systems at its airports.
Security screeningmarket for people screening applicationto hold the highest market sharefrom 2021 to 2026People 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.
Key Market Players
The Security screening marketis dominated by players such as Smiths Detection (UK), OSI Systems (US), Leidos (US), Thales (France), and NEC (Japan).
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Opportunity: Inclusion of artificial intelligence to bring digital transformation in security applicationsAdvanced technologies such as AI and IoT will not only reduce the screening time but also ensure accurate detection of contraband items in baggage and cargo. Governments from various countries have been investing in new AI-based security systems. The UK government has invested USD 2.37 million (GBP 1.8 million) for the development of AI-based systems at its airports.
Security screeningmarket for people screening applicationto hold the highest market sharefrom 2021 to 2026People 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.
Key Market Players
The Security screening marketis dominated by players such as Smiths Detection (UK), OSI Systems (US), Leidos (US), Thales (France), and NEC (Japan).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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