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.
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• 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.
Security screening market based on technology, end use at the regional and global level :
♦ By Application
•Baggage and Cargo Screening
♦By End Use
• Retail Stores and Malls
• Educational Institutes
• Events and Sports
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