Security Screening Market 2027 grow in future by size, developments, trends by Aware, Anviz Global, Analogic Corporation, Iris ID, L3 Security & Detection Systems

This report classifies the global Security Screening Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

The global security screening market accounted to US$ 6.95 Bn in 2018 and is expected to grow at a CAGR of 7.3% during the forecast period 2019 – 2027, to account to US$ 13.64 Bn by 2027.

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The report enables you to-

• Formulate significant competitor information, analysis, and insights to improve R&D strategies
• Identify emerging players with potentially strong product portfolio and create effective counter strategies to gain competitive advantage
• Identify and understand important and diverse types of Security Screening under development
• Develop market entry and market expansion strategies
• Plan mergers and acquisitions effectively by identifying major players with the most promising pipeline
• In-depth analysis of the product's current stage of development, territory and estimated launch date

Geographically, the security screening market is segmented into North America, APAC, Europe, MEA, and SAM regions. Asia Pacific led the security screening market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. The region would continue to generate relatively greater profit, contributing to increase in overseas trade, e-commerce, FDIs, and construction industry. Increasing disposable income has led the masses of the region to opt for airways which impact the scenario airports as well and so contribute towards accelerating utilization of new security systems.

Leading Key Players :

• Aware, Inc.
• Anviz Global
• Analogic Corporation
• Iris ID, Inc.
• L3 Security & Detection Systems
• Magal Security Systems Ltd
• Nuctech Company Limited
• OSI Systems, Inc.
• Smiths Detection Inc.
• Teledyne ICM

The North America is the second-largest market in the security screening market. Apart from Asia pacific and North America, Europe remains at the third-largest geographic segment in the security screening market. The security screening market heavily depends on changing government standards and budgets. Airports look ahead to deploy new security system to ensure friendly screening processes within less time. In North America, The Transportation Security Administration (TSA) is a US government representative which screens air travelers, to ensure safety of both individuals and mode of transportation in the country.

Market Insights

Persistent threat resulting in loss of human life

From last few years, some nations has witnessed incidences that resulted in terrorist attacks owing to weak security checks at various places, including, airports, seaports, railway stations, and hotels, among others. During the past few years, there have been many incidences that resulted in terrorist attacks owing to weak security checks at various places such as airports, seaports, railway stations, and hotels, among others. This factor holds a foremost position in influencing the adoption of security screening.

Strategic Insights

Some of the market Initiatives were observed to be most adopted strategy in the global security screening market. Few of the recent market initiatives are listed below:

2019: Iris ID announced its collaboration with GenKey for integrating iris recognition cameras as well as matching engine with the GenKey’s biometric ID platform, for providing an all-in-one solution for biometric verification and registration initiatives.

2019: L3 technologies Inc. acquired MacDonald Humfrey (Automation) Ltd, manufacturer of checkpoint security solutions, to enhance its networked security systems with highly operational and scalable capabilities. This will help the company to enhance their position in security market and create opportunities for the business.

2018: Teledyne ICM developed a new extra slim and light portable X-ray scanner, named FLATSCAN XS, to provide clear, sharp and detailed images of any item at a high speed.

2018: Analogic Corporation and American Airlines collaborate to distribute next generation computed tomography (CT) screening solutions, ConneCT in New York’s John F. Kennedy (JFK) International Airport. Further, ConneCT units deployed at other airports in the United States later in this year.

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Reason to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Security Screening Market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Security Screening Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.