SecurityWorldMarket

30/09/2014

Screening market to grow to $9.1B

Dallas, Tx (USA)

According to a new market research report, the global security screening market is expected to reach $9.10 billion by 2020; at an expected CAGR of 9.46% from 2014 to 2020.

The Security screening market involves scanning of individuals and their belongings, to avoid unlawful and unethical practices. The importance of security screening has been increasing due to threats related to terrorism, and other unethical and unlawful practices which may result in economic, financial, and, human loss. In terms of applications, the security screening market report from Marketsandmarkets is divided on the basis of airports, government applications, border check points, educational institutes, private sector, and public places, among others. In terms of products, the report divides them into four sections - X-ray screening systems, explosive trace detectors, electromagnetic detectors, and biometric systems.

This report describes the market trends, drivers, and challenges with respect to the security screening market and forecasts the market up to 2020. The global report gives a detailed view of the market across the four major geographies, namely - North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, and Russia), APAC (China, Japan, South Korea, India, and Australia), and RoW (Latin America, Middle East, and Africa).

Marketsandmarkets analysts find that Asia-Pacific stands first in terms of the CAGR in the security screening market. North America has been identified as the leader in the market in terms of the market size, where the U.S leads the way. Europe is a promising market, mainly comprising Germany and the U.K.; while the ROW also presents a driving factor toward the growth of this market with Brazil and Argentina. The report profiles the 10 major players in the security screening market ecosystem.

The competitive landscape of the security screening market presents an overall scenario, where major players such as Smiths Group plc. (U.K.) and Safran SA (France)play a major role. The market is witnessing agreements, contracts, and product launches across its value chain, among a number of tier-one players around the globe. Safran SA (France) developed ‘Finger on the Fly’, which is said to be the world’s fastest contactless four finger scanner. Smiths Detection (U.K.) came up with an advanced dual-view X-ray inspection system for automatic explosive detection at security checkpoints where bags and personal belongings are screened. Thus, the market players are constantly working toward new and innovative product offerings.

The major players in the security screening market are American Science and Engineering, Inc. (U.S.), Analogic Corporation (U.S.), Argus Global Pty Ltd (Australia), Aware Incorporation (U.S.), Digital Barriers plc. (U.K.), Implant Sciences Corporation (U.S.), Magal Security Systems Ltd (Israel), OSI Systems, Incorporation (U.S.), Safran SA (France), and Smiths Group plc. (U.K.).



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