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.
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 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.