Advanced screening and detection solutions will reduce human intervention and increase efficiency, says Frost & Sullivan
SAN ANTONIO, May 4, 2022 /PRNewswire/ -- Frost & Sullivan's recent analysis of the global security screening and detection market reveals that next-generation technologies will significantly modernize current security platforms. As the industry shifts away from traditional X-ray technology, adopting the latest security tools in airports, maritime ports, and land borders has the potential to deliver greater effectiveness. Post-COVID-19, the market for world-class security solutions is expected to increase, with revenues expected to reach $45.10 billion with a CAGR of 3.3% by 2030. By leveraging new scanning and screening technologies such as 3D computed tomography, millimeter wave, X-ray backscatter, and electronic ion mobility spectrometry, industry capabilities for rapid screening of baggage, people, cargo, and parcels are expected to increase. Explosives and narcotics detection will also be enhanced.
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"The growth in traveler numbers following the lift of travel restrictions imposed due to the COVID-19 pandemic globally continues to place pressure on border organizations to manage threats and screen people and goods," noted Aravind Srimoolanathan, Industry Analyst, Security at Frost & Sullivan. "The continued risk of cross-border terrorism and crime demands higher passenger screening levels and contraband goods detection. This will drive demand for more innovative screening and detection solutions."
Srimoolanathan added: "The security industry is witnessing rapid shifts in technology innovation and adoption rates due to dynamic and asymmetric threats and their propagation in physical and digital domains. Security agencies will increasingly seek more integrated platforms to meet current operational needs and improve detection efficiency and collaboration across other security stakeholders within ports of entry."
To capitalize on the industry demand, market participants should focus on:
* Lease/rental model for security screening and detection solutions: They can expand their services with the lease/rental business model of their equipment through local partnerships with distributors, security contractors, and event management organizations.
* Mobile autonomous scanning systems for security screening and detection solutions: Businesses should invest in R&D and pilot programs to capitalize on future opportunities through proven solutions and liaise with regional think tanks to understand the market opportunities and demand for such solutions.
* Managed services business model for security screening and detection solutions: Industry participants should establish alliances with governments to provide effective solutions and operational support services that fill security capability gaps.
Global Security Screening and Detection Growth Opportunities is the latest addition to Frost & Sullivan's Security research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Security Screening and Detection Growth Opportunities
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