Market Research Report
Contraband Detector Market with COVID-19 Impact Analysis by Technology ( X-ray,Metal, Spectroscopy), Screening Type (People, Baggage & Cargo, Vehicle), Deployment Type (Fixed, Portable), Application and Region - Global Forecast to 2026
|Published by||MarketsandMarkets||Product code||1009399|
|Published||Content info||193 Pages
Delivery time: 1-2 business days
|Contraband Detector Market with COVID-19 Impact Analysis by Technology ( X-ray,Metal, Spectroscopy), Screening Type (People, Baggage & Cargo, Vehicle), Deployment Type (Fixed, Portable), Application and Region - Global Forecast to 2026|
|Published: June 1, 2021||Content info: 193 Pages||
The global contraband detector market size is expected to grow from USD 3.9 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 7.5%. The market has a promising growth potential due to several factors, including growing adoption of x-ray screening technology in the transportation industry and rising adoption of contraband detectors in retail applications during rising security concerns in public places such as shops, malls and others.
The major factor restraining the growth of the contraband detector market is the huge initial investment and higher operational and maintenance costs associated with security systems. Contraband detector systems are widely used to ensure security and safety at transit facilities, public places, hospitals, government organizations, banks, commercial buildings, educational institutions, critical infrastructure, etc, however, they have a high cost of ownership. Many of the aforementioned places require costly explosive detectors for which the operational cost is equally high. For instance, full-body X-ray scanners require a huge initial investment. Also, the maintenance cost of several explosive detectors is comparatively high. All these factors may result in a reluctance to deploy security measures at facilities This is expected to impact the contraband detector market negatively in the coming years.
The market declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the contraband detector market. Though the market has been impacted in 2020, it is expected to fully recover by 2021.
"Metal Detection: The fastest-growing segment of the contraband detector market, by technology type"
Metal detection technology is the fastest-growing segment of the contraband detector market by technology type. There have been several technological advancements in metal detection systems owing to COVID-19. Many players have started offering metal detectors integrated with temperature sensing technology or thermal imaging which is driving the market for metal detection. Furthermore, exposure to high levels of X-rays can increase the risk of cancer and cardiovascular diseases hence x-ray technology is being replaced by metal detection technology by many organizations. This is expected to drive the market for metal detection technology during the forecast period.
"Transportation: The largest segment of the contraband detector market, by application"
The contraband detector market for the transportation application is expected to hold the largest market share from 2021 to 2026. The transportation sector includes transit locations such as airports, seaports, rail stations, bus stations, etc. It has been observed that a large number of passengers pass through these transit locations, and to maintain security at these sites, varieties of contraband detector systems, such as metal detectors and X-ray scanners are used. Passengers are required to move ahead through checkpoint areas safely, securely, and quickly, without creating any chaos. Thus, there has been huge investments for the deployment of security measures in the transportation sector due to rising passenger traffic. These security measures are expected to drive the market for transportation application during the forecast period.
"North America has the largest market share in the contraband detector market"
The North American region is expected to dominate the contraband detector market and is projected to have the largest market share during the forecast period. Also, the region has countries like US, Canada and Mexico where several major players in contraband detector market dwell. The US is likely to continue to lead the North American contraband detector market as it has several busiest airports and is witnessing the rising adoption of contraband detectors. Furthermore, increasing investments of TSA to procure & install security screening equipment at airports is expected to drive market. Also. Technological advancements and mandates for screening people & baggage at transportation facilities are projected to boost market growth. These factors are expected to propel the contraband detector market in North American regions.
The report profiles key players in the global contraband detector market with their respective market share analysis. Prominent players profiled in this report are Leidos ( US), OSI Systems, Inc. (US), Smiths Group (UK), Nuctech Company Limited (China), Metrasens( UK), ADANI (US), Costruzioni Elettroniche Industriali Automatismi C.E.I.A. Spa (Italy), Berkeley Varitronics Systems, Inc. (US), Godrej Security Solutions (India), Campbell/Harris Security Equipment Company (US), Garrett Metal Detectors. (US), PKI Electronic Intelligence Gmbh (Germany), Vidisco Ltd. (Israel), Global Security Solutions, Inc. (Canada), Astrophysics, Inc. (US), Autoclear LLC (US), Gilardoni S.P.A. (Italy), Aventura Technologies, Inc. (US), and Ranger Security Detectors (US).
The report segments the contraband detector market and forecasts its size, by value, based on region (North America, Europe, APAC, and ROW), by technology (x-ray imaging, metal detection, spectroscopy/spectrometry), screening type (people screening, baggage and cargo screening, vehicle screening), and application (government, transportation, retail, hospitality, commercial, industrial, education, events and sports).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the contraband detector market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the contraband detector market and provides them information on key market drivers, restraints, challenges, and opportunities.