Security Screening Market is Expected to Register Highest CAGR of ~7.3% During the Forecast Period 2018 - 2028

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Security Screening Market

• March 2020

Report Id REP-GB-2673 Published On
April-2019 Category Electronics,
Semiconductors, and ICT
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Security Screening Market Analysis

• Security Screening Market to register high
  revenue growth at 7.3 CAGR during 2018 2028
• VALLEY COTTAGE, N.Y.(GLOBE NEWSWIRE) -- The
  approximately US 7.8 billion market for security
  screening is highly likely to approach the
  revenues worth US 10 billion in the next two
  years. As indicated by a newly launched research
  report by Future Market Insights (FMI), more than
  half of the total demand for security screening
  is being accounted by the developed regional
  markets. East Asia however is cited as the most
  lucrative market for investors in security
  screening systems and solutions.
• Rapid growth in the economy, necessitating
  increasing expenditure on the national and
  infrastructural security, will continue to push
  deployment of reliable and advanced technology
  enabled security screening systems. While FMIs
  analysis identifies an impressive rate of
  adoption within emerging economies, China, India,
  and Russia are more likely to be at the forefront
  of this growth, in the security screening market.
• Airports Generate Maximum Demand for Security
  Screening, Explosive Trace Detectors Bestselling
• Over 2/5th of the global security screening
  demand is accounted by airports, which will
  remain the dominant application area for security
  screening systems manufacturers and suppliers. As
  government buildings are highly vulnerable owing
  to the voluminous sensitive information that they
  procure, public recreation areas such as malls
  are also cited as the next sensitive area for
  implementation of effective security screening.
  Border check points are also expected to emerge
  lucrative through coming years, in the security
  screening market.

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Security Screening Market Analysis

• Explosive trace detectors, currently accounting
  for nearly 1/4th share of the total sales of
  security screening systems, will reportedly
  witness strong growth in demand through the
  coming years. According to the report, X-Ray
  screening systems and biometric systems are also
  highly popular among the end-use application
  areas in security screening market. The
  collective market value share of the
  aforementioned security screening systems is
  just-under 50 and the report expects
  attractiveness of the latter to surge - with
  growing adoption of fingerprint and face
  recognition technologies.
• Smart Security Screening Trending in the Global
  Market
• Looking at the loopholes in current security
  screening models in terms of efficiency and
  sustainability, airports have been accelerating
  the industry's shift to smart security screening
  solutions, over the recent past. A combined
  initiative of Airports Council International
  (ACI) and the International Air Transport
  Association (IATA), smart security is emerging as
  a streamlined solution for airlines, passengers,
  and their belongings. Recently, Australia's
  first-ever smart security screening checkpoint
  was unveiled at the Melbourne Airport.
• Key Vendor Insights Global Security Screening
  Market
• Westminster Group PLC, one of the key players
  competing in security screening market, recently
  completed the acquisition of Keyguard UK Ltd. The
  latter is a leading company in the security
  screening space, providing the blend of manned
  security and the latest technology enabled
  security screening systems. The former will now
  offer packages combining technology and guarding
  particularly to the infrastructure security
  domain.

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Security Screening Market Analysis

• This deal is expected to benefit both the
  business bases, in form of multiple cross-selling
  opportunities.
• Besides Westminster, FMIs report covers detailed
  strategic profiles of some of the most prominent
  companies operating in security screening market
  landscape, including American Science and
  Engineering, Inc., Analogic Corporation, Argus
  TrueID, Aware Incorporation, Digital Barriers,
  Mangal Security Systems Ltd., OSI Systems, Inc.,
  Smiths Group plc, LAXTON GROUP, NEXT Biometric,
  Aratek, NEC Corporation, and Cognitec Systems
  GmbH.
• Press-Release Source https//www.globenewswire.c
  om/news-release/2019/04/10/1801946/0/en/Security-S
  creening-Market-to-Grow-at-a-CAGR-of-7-3-during-20
  18-2028-Future-Market-Insights.html
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• Contact -

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Security Screening Market Analysis

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