The security seals global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Security Seals Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The security seals market size has grown rapidly in recent years. It will grow from $0.75 billion in 2023 to $0.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increasing incidents of theft and tampering, focus on brand protection and customer trust, logistical efficiency and inventory management, increasing focus on cargo security, and government initiatives and border security.
The security seals market size is expected to see rapid growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to rising threats of terrorism and crime, emergence of new industry verticals, increasing investment in infrastructure, growing awareness of product safety and quality, and shift towards sustainable packaging solutions. Major trends in the forecast period include increased adoption of RFID and NFC technology, enhanced tamper-evident features, integration of block chain technology, rise in e-commerce and last-mile delivery, and integration with IOT and analytics.
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Scope Of Security Seals Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Security Seals Market Overview
Market Drivers –
The rapid expansion of transportation and logistics is expected to propel the growth of the security seals market going forward. Transportation and logistics refer to the process of planning, implementing, and controlling the movement of goods, services, and information from the point of origin to the point of consumption. Transportation and logistics are expanding due to the increasing globalization of trade, the rapid growth of e-commerce, technological advancements, rising customer expectations, supply chain optimization efforts, and changes in regulations. Security seals are widely used in transportation and logistics to secure containers, trucks, trailers, and shipments, ensuring the integrity of goods during transit and providing visual evidence of tampering or unauthorized access. For instance, in May 2023, according to the Bureau of Transportation Statistics, a US-based government body, the anticipated increase in shipment values per mode of transportation and logistics is expected to exceed tonnage growth, rising from $1,001 per ton in 2023 to $1,256 per ton by 2050, adjusted for inflation. Therefore, the rapid expansion of transportation and logistics is driving the growth of the security seals market.
Market Trends –
Major companies operating in the security seal market are developing eco-friendly and biodegradable security seal materials with advanced technologies such as tamper-evident technology to meet rising demand for sustainable and secure packaging solutions. Tamper-evident technology refers to a set of tools and techniques used to detect and prevent unauthorized access, tampering, or manipulation of products, documents, or packages. For instance, in August 2021, Securikett, an Austria-based company specializing in both digital and physical security systems, launched a paper-based security seal, combining tamper-evident technology with eco-friendly best practices to protect cardboard packaging against various tampering methods while contributing to a circular economy. This innovative security seal is made of paper and has a Wash VOID function that displays the text ‘TAMPERED’ when an attempt is made to remove the label.
The security seals market covered in this report is segmented –
1) By Product: Metal, Plastic Security Seals
2) By Adjustment Type: Fixed Seals, Adjustable Seals
3) By End-User: Transport, Logistics, Packaging, E-Commerce And Retail, Bank, Medicine, Aerospace And National Defense, Food And Beverage, Other End-Users
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Regional Insights –
North America was the largest region in the security seals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the security seals market report are <b>W.W Grainger Inc.; American Casting Manufacturing Corporation; Zebra Technologies; Universal Group; Tesa Assa Abloy ; XPO Logistics; Brady Corporation; Transport Security; Tyden Brooks; Essentra plc; LINPAC Packaging ; EuroSea; Unisto; Orbis Machinery; Label makers Group Information; Precintia Seguridad; Savi technology; Mega Fortris Group; Leghorn Group Srl ; Versapak International Ltd.; Hoefon Security; Cambridge Security Seals; Dickey Manufacturing; Acme Seals Limited; Shandong Tengxin Seal Co. Ltd. </b>
Table of Contents
- Executive Summary
- Security Seals Market Characteristics
- Security Seals Market Trends And Strategies
- Security Seals Market – Macro Economic Scenario
- Global Security Seals Market Size and Growth
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- Key Mergers And Acquisitions In The Security Seals Market
- Security Seals Market Future Outlook and Potential Analysis
- Appendix
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