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Security Screening Market 2023 - By Industry Outlook, Current Trends, Growth Factors And Forecast To 2032
Security Screening Market
Security Screening Market Size, Growth Rate, And Forecast
The global security screening market size grew from $9.37 billion in 2022 to $10.13 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The security screening market size is expected to grow to $14.08 billion in 2027 at a CAGR of 8.6%.
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Security Screening Market Drivers
The increasing terrorism is expected to propel the growth of the security screening market. Terrorist uses illegal force and violence to achieve a political, economic, religious, or social purpose through fear, compulsion, or intimidation. With these growing unlawful immigration and terrorist acts worldwide, the demand for security screening systems has risen.
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Security Screening Market Segments
• By Type: X-Ray System, Metal Detectors, Explosive Detectors, Biometric System, Other Types
• By Application: Mail And Parcel, Baggage Scanning, Cargo And Vehicle Inspection, Explosives And Narcotics
• By End-User: Government Buildings, Airports, Educational Institutes, Public Places, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Security Screening market.
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Security Screening Market Key Players
Major competitors in the Security Screening market include Smiths Group plc, L-3 Communication Holding Inc., OSI Systems, Magal Security Systems Ltd., Argus Global Pty Ltd.
The Business Research Company's "Global Security Screening Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Security Screening Market Include:
1. Executive Summary
2. Security Screening Market Characteristics
3. Security Screening Market Trends And Strategies
4. Security Screening Market - Macro Economic Scenario
5. Security Screening Market Size And Growth
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26. Africa Security Screening Market
27. Security Screening Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Security Screening Market
29. Security Screening Market Future Outlook and Potential Analysis
30. Appendix
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