Urban Security Screening Market: The Demand for the Market Will Drastically Increase | Forecast, 2021-2031
The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario
PORTLAND, OREGON, UNITED STATES, September 6, 2023/EINPresswire.com/ — Allied Market Research recently published a report, titled, “Urban Security Screening Market by Product Type (Baggage Scanners, Vehicle Scanners, Cargo Scanners, CBRN Detection, Explosive/narcotics Detectors, Trace Detectors), by End Use (Government Buildings, Airports, Educational Institutes, Public Places, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report, the global urban security screening industry was estimated at $8.6 billion in 2021, and is set to reach $22.3 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031.
The research provides a clear picture of the market’s current needs and future prospects. The research study gives a 360-degree overview of the overall market environment by supplying details on the Urban Security Screening Market size and share analysis, market dynamics, segmental & regional analysis, top investment pockets, competition landscape and other factors for the projected forecast period.
The Research report presents a complete judgment of the Urban Security Screening Market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. The report is a useful resource for businesses, investors, shareholders and new entrants to gain an in-depth understanding of the market and make informed decisions and settle on educated business choices based on their business goals. The analysis sheds insight on the global Urban Security Screening Market drivers, restraints, and opportunities.
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Businesses can evaluate the Porter’s Five Forces Analysis to determine the structure, level of competition, and industry’s strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company’s success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international Urban Security Screening Market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on. The global Urban Security Screening Market report demonstrates information about the current and historical data of the market.
Competitive Analysis:
The competitive environment of the global Urban Security Screening Market is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Urban Security Screening market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the prominent players of the global Urban Security Screening Industry include Smiths Group PLC, Astrophyics, Rapiscan, Leidos, Hitachi, Environics, Proengin, Bruker Daltonics, Thermofisher and Thruvision.
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Segmentation Analysis:
Based on the product type, the baggage scanners segment contributed to the highest market share in 2021, accounting for more than one-fourth of the global urban security screening market. The segment is predicted to contribute majorly toward an overall market share in 2031. The growth of the segment over the forecast period can be attributed to the lucrative use of baggage scanners in screening activities at airports, railway stations, hotels, metro stations, multiplexes, and cinema theatres. However, the explosive/ narcotics segment is predicted to register the fastest CAGR of nearly 11.67% from 2022 to 2031.
On basis of end use, the educational institutes segment is set to register the highest CAGR of 12.14% over the forecast period. The highest growth rate of the segment can be credited to the high demand for security and safety for students and staff. Furthermore, the need for screening students for preventing them from carrying harmful objects such as sharp items and knives with them will boost the growth of the segment during the assessment period. However, the airports segment contributed a major share toward the global urban security screening market in 2021, accounting for nearly one-fourth of the global market share.
Based on the region, Asia-Pacific contributed notably toward the global urban security screening market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly half of the global market share in 2021. Furthermore, the region is predicted to record the highest CAGR of 10.98% over the forecast timeline. The growth of the regional market over the projected timeline can be credited to the increase in the number of airports.
By Region:
1) North America (Canada, Mexico, and the United States)
2) Europe (France, Italy, Germany, Spain, the United Kingdom, and rest of Europe)
3) Asia-Pacific (Australia, Japan, South Korea, China, India, and rest of Asia-Pacific)
4) LAMEA (Africa, the Middle East, and Latin America)
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KEY FINDINGS OF THE STUDY
In 2021, the baggage scanners segment accounted for maximum revenue, and is projected to grow at a notable CAGR during the forecast period.
The airports segment accounted for around 23.85% of the urban security screening market trends in 2021.
Asia-Pacific contributed for the major share in the home automation and controls market, accounting for highest revenue share in 2021.
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