Security Screening Market Set to Grow at 8% CAGR, Reaching USD 16 Billion by 2030

According to Next Move Strategy Consulting, the global Security Screening Market is poised for significant growth, projected to increase to USD 16 billion by 2030, with a compound annual growth rate (CAGR) of 8% during the forecast period. Security screening, which involves inspecting individuals, objects, or areas to identify potential threats, is crucial in ensuring the safety and protection of people and property in high-risk locations such as airports, government buildings, and event venues.

Download Free Sample: https://www.nextmsc.com/security-screening-market/request-sample

The market is driven by increasing security threats and a rising demand for advanced screening technologies. This includes the growing use of metal detectors, X-ray machines, and biometric systems to detect weapons, explosives, and other prohibited items. The introduction of contactless identity verification systems in airports, such as biometric verification for passengers, further supports the market’s expansion. For instance, Pennsylvania Hospital in the U.S. installed the Evolv Technology security system in March 2022, enhancing their security measures.

Market Dynamics and Trends

Several factors are contributing to the growth of the security screening market:

• Technological Advancements: Increasing integration of sophisticated technologies, such as X-ray machines, explosive trace detectors (ETDs), and biometric systems, in airports and transportation hubs to prevent illegal activities.
• Government Initiatives: Rising security concerns have prompted government initiatives to implement stricter regulations, enhance law enforcement measures, and improve public safety. In July 2022, the Transportation Security Administration and Airports Council International (ACI) Europe collaborated to create an open architecture for airport security systems.
• Expanding Applications: There is an increasing demand for security screening devices in public places like malls, hospitals, and railway stations, fueled by growing concerns over terrorism and criminal activities.

However, high installation and maintenance costs of screening devices are expected to act as a barrier to market growth. Despite this, the increasing adoption of passive infrared (PIR) sensors and advanced camera systems for monitoring suspicious activity presents new opportunities for market players.

Inquire Before Buying: https://www.nextmsc.com/security-screening-market/inquire-before-buying

Market Segmentation

The security screening market is segmented based on type, integration level, end user, and geography:

• Type: Includes X-ray systems, explosive trace detectors, biometric systems, metal detectors, liquid scanners, shoe scanners, and others.
• Integration Level: Includes standalone screening systems, integrated screening solutions, and networked screening systems.
• End Users: Airports, transportation infrastructure, government and public buildings, critical infrastructure, retail and shopping centers, event venues, educational institutions, healthcare facilities, and others.
• Geography: The market is analyzed across North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Geographical Insights

• North America: Dominates the market, driven by the widespread installation of advanced security devices in airports and the presence of key market players like OSI Systems and Smith’s Detection. Notable developments include Clear's identity verification service at Raleigh-Durham International Airport and the installation of advanced 3D scanners by the U.S. Transportation Security Administration.
• Asia-Pacific: Expected to experience significant growth due to rising security concerns related to illegal immigration, human trafficking, and smuggling. Countries such as the Philippines are seeing an increase in security measures across public spaces.

Competitive Landscape

The security screening market is highly competitive, with several key players driving innovation and market expansion. Major companies include:

• Smith’s Detection Inc.
• L-3 Communications Security and Detection Systems Inc.
• OSI Systems Inc.
• 3DX-Ray Ltd
• Teledyne ICM
• Analogic Corporation
• Nuctech Company Limited
• Astrophysics Inc.

In May 2023, OSI Systems secured an order worth USD 9 million to provide a range of inspection systems, including explosive detection technology. Additionally, Smiths Detection entered a partnership with Donggok Precision Co. Ltd. to enhance baggage screening at Incheon International Airport in South Korea.

Conclusion

The security screening market is on a robust growth trajectory, driven by technological innovations, increasing government initiatives, and rising security threats. As the need for enhanced public safety continues to grow, demand for advanced screening solutions will fuel market expansion. The market's future holds substantial opportunities, especially with the increasing integration of smart technologies, biometric systems, and AI-powered detection tools.

For more information, please contact:

Next Move Strategy Consulting

E-Mail: info@nextmsc.com

Direct: +1-217-650-7991

Website: www.nextmsc.com

Follow Us: LinkedIn | Twitter | Facebook | Instagram | YouTube

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.