SecurityWorldMarket

20/10/2016

Video surveillance drives threat detection systems market

Hadapsar, India

The threat detection systems market is expected to grow from USD 48.38 Billion in 2015 to reach USD 119.17 Billion by 2022, at a CAGR of 13.11% between 2016 and 2022, according to the latest information published by Marketsandmarkets. Increasing threat of terrorist activities, rising territorial conflicts, and geopolitical instabilities have led to the rise in the demand for threat detection systems. Also, increasing need for large-scale surveillance systems at public and commercial places is driving the demand for threat detection equipment

Video surveillance systems are cited as being expected to lead the overall threat detection systems market during the forecast period and are expected to grow at the highest rate between 2016 and 2022. Increasing need for reconnaissance at commercial places, industry premises, and public avenues is one of the prime factors which is leading the demand for video surveillance systems. Video surveillance recordings are also used for the investigation purposes in many crime scenarios which is also driving the market for video surveillance systems.

The analysts suggest that the threat detection systems market is led by the public infrastructure which for purposes of the report has been further segmented into airports, railway stations, sports stadiums, shopping malls, pilgrimages, and others. The high demand for threat detection devices from airports and shopping malls, especially for explosive detectors, video surveillance systems, and biometric systems, is one of the major factors driving the growth of the threat detection systems market for the public infrastructure application. The commercial sector is the second-largest market and the threat detection systems market for the commercial sector is estimated to grow at the highest rate between 2016 and 2022.

North America held the largest share of the threat detection systems market in 2015, followed by APAC and Europe. The U.S. accounted for the largest share of the threat detection systems market in North America, followed by Canada and Mexico. The region has several companies operating as manufacturers and suppliers of components that are used in internal threat detection and border security management. North America is witnessing a continuous increase in the research & development activities, particularly in high-energy laser system technologies.

The major players listed as operating in this market within the new research report include Smiths Group, Safran, Flir Systems, Thales, Rapiscan Systems, RAE Systems, Chemring Group, ChemImage Sensor Systems, Mirion Technologies, and Axis Communications, amongst others.


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