PUBLISHER: The Business Research Company | PRODUCT CODE: 1464128
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464128
Mass transit security encompasses the measures and practices put in place to safeguard public transportation systems, including buses, trains, subways, and ferries, as well as the passengers and employees utilizing and operating them. These protective measures involve the enforcement of diverse rules and regulations, the implementation of human and video surveillance, the deployment of a transit police force, and the utilization of other relevant techniques.
The primary types of mass transit security encompass airways transit security, seaways transit security, roadways transit security, railways transit security, and other specialized categories. Airways transit security specifically involves the implementation of security measures and protocols to protect passengers, staff, and property during the transit process to and from airports. This includes services such as managed services and professional services, along with a range of solutions such as surveillance and monitoring, screening systems, biometric security, authentication systems, fire safety and detection systems, perimeter intrusion detection, access control, among others. These security measures find applications in various sectors, including homeland security, industrial settings, retail and payment industries, logistics and transportation industries, healthcare, and more.
The mass transit security market research report is one of a series of new reports from The Business Research Company that provides mass transit security market statistics, including mass transit security industry global market size, regional shares, competitors with mass transit security market share, detailed mass transit security market segments, market trends, and opportunities, and any further data you may need to thrive in the mass transit security industry. This mass transit security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mass transit security market size has grown strongly in recent years. It will grow from $39.76 billion in 2023 to $42.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the historical period can be attributed to several factors, including the growth of public transportation systems, a heightened demand for innovative security solutions, increased investments in advanced surveillance technologies, a rise in the adoption of access control systems, a surge in the use of biometrics for security, and an awareness driven by security breaches.
The mass transit security market size is expected to see strong growth in the next few years. It will grow to $55.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period is expected to be driven by various factors, including the increasing occurrence of public incidents, the deployment of biometric identification systems, heightened concerns about terrorism threats, growing public awareness, and cooperation, as well as geopolitical tensions. Key trends in the forecast period encompass AI-driven threat detection, enhanced biometric identification methods, security measures for the Internet of Things (IoT), solutions for mobile security, and the development of systems for drone detection and mitigation.
The anticipated growth in mass transit security is driven by increasing threats and security concerns, encompassing potential dangers or harmful events that exploit vulnerabilities and pose risks to personnel. Public transit environments face susceptibility to criminal activities such as theft, assaults, and vandalism, necessitating robust security measures. In June 2023, the International Air Transport Association reported a rise in unruly incidents, with one incident reported for every 568 flights in 2022, up from one per 835 flights in 2021. The incidents ranged from non-compliance and verbal abuse to intoxication, with a notable 61% increase in physical abuse incidents occurring once every 17,200 flights. This surge in threats and security concerns is a driving force behind the growth of the mass transit security market.
Key players in the mass transit security market are actively engaged in the development of cutting-edge technologies, including AI-enabled video analytics platforms. This technology processes actionable insights and conclusions from digital video using artificial intelligence techniques. For example, in November 2021, ADLINK Technology Inc., based in Taiwan, introduced its AVA-RAGX AI-enabled video analytics platform, focusing on next-generation rail solutions such as passenger security, danger monitoring, and railroad incursion detection. The platform, based on the latest industrial version of the NVIDIA Jetson AGX Xavier module, offers high reliability and performance for railway applications in challenging operating environments. It facilitates various use cases, including automatic fee collection, track danger detection, predictive maintenance, autonomous trains, and passenger face mask detection, contributing to safer, smarter, sustainable, and reliable railway operations.
In February 2023, Accenture plc, headquartered in Ireland and specializing in information technology services and consulting, acquired Morphus for an undisclosed amount. This strategic acquisition aims to expand Accenture's portfolio, enabling the provision of top-notch cyber defense solutions to clients and enhancing its position in growth markets, particularly in aviation. Morphus, a Brazil-based company, specializes in providing cyber defense, risk management, and cyber threat intelligence services in the aviation sector.
Major companies operating in the mass transit security market report are Siemens AG, Panasonic Corporation, Cisco Systems Inc., Hanwha Group, Honeywell International Inc, Johnson Controls International PLC, Thales Group, Tyco International PLC, L3Harris Technologies Inc, Analog Devices Inc., Hikvision Digital Technology Co. Ltd, Bosch Security Systems Inc., NICE Systems Ltd., Axis Communications AB, OSI Systems Inc, Kratos Defense & Security Solutions Inc. (KTOS), Flir Systems Inc., Smiths Detection Inc, Avigilon Corporation, Nuctech Company Limited, Rapiscan Systems Inc, Genetec Inc., Analogic Corporation, Teleste, SDI Presence LLC, March Networks Corporation, IndigoVision Group PLC, High Rise Security Systems LLC, AngelTrax, Fortem Technologies Inc.
North America was the largest region in the mass transit security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mass transit security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mass transit security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mass transit security market consists of revenues earned by entities by providing services such as surveillance and monitoring, physical security, emergency response, security screening, crowd management and incident reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The mass transit security market also includes sales of smart sensors and IoT devices, closed-circuit television (CCTV) cameras, metal detectors, passenger screening devices, biometric identification systems and intrusion detection sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Mass Transit Security Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mass transit security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mass transit security ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mass transit security market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.