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Vehicle Scanner Global Market Demand Status, Competitive Landscape, Top Growing Regions, Segmentations, and Leading Key Opportunity Forecast To 2033
Vehicle Scanner Global Market
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According to The Business Research Company's, The vehicle scanner market size has grown strongly in recent years. It will grow from $2.41 billion in 2023 to $2.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to security concerns, increased traffic at entry points, regulatory compliance, rising threats of contraband, infrastructure development.
The vehicle scanner market size is expected to see strong growth in the next few years. It will grow to $3.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising global trade, terrorism prevention measures, urbanization and population growth, customs and border control enhancements, pandemic response measures. Major trends in the forecast period include cross-border security collaborations, technological integration, technological advancements, integration with other security technologies, green and radiation-free technologies.
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Market Drivers and Trends:
Rising security concerns are expected to propel the growth of the vehicle scanner market going forward. Security concern refers to a temporary policy of concealment by the police or those in charge of security to shield a person or a place from further harm when they are in danger. Vehicle scanners are used to search for contraband, illegal narcotics, weapons, and other dangerous objects when inspecting containers and other vehicles. Many locations, including seaports, would continue to use vehicle scanners as a precaution due to increased security concerns about illegal drug trafficking and other security flaws. For instance, in June 2023, according to the U.S. Customs and Border Protection database, a US-based government agency, U.S. arrests of criminal noncitizens grew from 2,438 in 2020 to 12,028 in 2022. Among these, illegal drug possession and trafficking rose from 386 in 2020 to 2,239 in 2022. Illicit possession of weapons, transport, and trafficking increased from 49 in 2020 to 309 in 2022, and illegal entry and reentry increased from 1,261 in 2020 to 6797 in 2022. Therefore, rising security concerns are driving the growth of the vehicle scanner market.
Technological improvements are a key trend gaining popularity in the vehicle scanner market. Major companies operating in the vehicle scanner market are developing new technologies to sustain their position in the market. For instance, in December 2022, Vehant Technologies, an India-based vehicle security company, launched the DepScan UVSS (Under Vehicle Scanning System), which utilizes stereoscopic vision technology to scan the underside of vehicles. This security tool is designed to enhance the reliability and automation of under-vehicle scanning, providing a comprehensive solution for inspecting the undercarriage of vehicles passing through checkpoints. The system generates a point cloud-based 3D model, enabling the capture of relative depth information in the form of a disparity map.
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Major Key Players of the Market:
Softing Automotive Electronics GmbH, Robert Bosch GmbH, Tescon AG, Continental AG, BorgWarner Inc., Leidos Holdings Inc., Snap-on Inc., Valmont Industries Inc., Dahua Technology Co. Ltd., Godrej & Boyce Mfg. Co. Ltd., Rapiscan Systems Private Limited, KPIT Technologies, Innova Electronics Corporation, International Road Dynamics Inc., Get Spiffy Inc., UVeye Inc., Carman Industries, Vehant Technologies, Infinite Technologies Inc., Omnitec Group, Gatekeeper Security Inc., BlueDriver, Cass Parking, Advanced Detection Technology LLC, VMI Security System Corp., PARKnSecure India Private Limited, General Technologies Corporation, EL-GO TEAM, Autol Technology Co. Ltd, Launch Tech US.
Vehicle Scanner Market 2024 Key Insights:
• The vehicle scanner market size is expected to see strong growth in the next few years. It will grow to $3.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Escalating Security Threats Fuels Growth In The Vehicle Scanner Market
• Stereoscopic Vision Technology Revolutionizes Under Vehicle Scanning In The Vehicle Scanner Market
• North America was the largest region in the vehicle scanner market in 2023
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