The transportation and security system market size is expected to see strong growth in the next few years. It will grow to $26.70 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rapid urbanization is set to boost sales in the cold storage industry, rising demand for smart transportation, government regulations, environmental sustainability, traffic congestion. Major trends in the forecast period include technology advancements in video surveillance and screening, technological advancements, advancements in surveillance technologies, integration of ai and machine learning, cybersecurity solutions.
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Scope Of Transportation And Security System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Transportation And Security System Market Overview
Market Drivers –
Rising demand for smart transportation is expected to propel the growth of the transportation and security system market going forward. Smart transportation refers to the integration of modern technologies and management strategies into transportation systems to enhance efficiency, safety, and convenience. Transportation and security systems strive for smart transportation initiatives by providing the infrastructure, technologies, and services needed to create efficient, safe, and sustainable transportation networks. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, rising demand for smart transportation is driving the growth of the transportation and security system market.
Market Trends –
Major companies operating in the transportation and security system market are developing innovative products, such as passenger screening system to prevent prohibited items and threats from entering the sterile areas of airports. It is a type of passenger screening system used in transportation security. For instance, in January 2023, Vanderlande Industries BV, a Netherlands-based automated material handling systems and service provider, launched PAX MX2, a new airport passenger checkpoint solution. This creative approach offers the efficiency of two traditional lanes with fewer workers and equipment by allowing passengers to remove and retrieve their handbags from two parallel lines, both before and after the screening process. The PAX MX2’s innovative dual-lane approach enhances security screening at airports, making the process more efficient. It speeds up screening procedures while optimizing the checkpoint footprint and screening tools.
The transportation and security system market covered in this report is segmented –
1) By Component: Surveillance Systems, Access Control Systems, Perimeter Intrusion Detection Systems, Biometric Identification Systems, Command And Control Centers
2) By Modes: Roadways, Railways, Airways, Seaways
3) By Application: Critical Infrastructure Protection, Passenger Screening And Safety, Traffic Monitoring And Management, Freight And Cargo Security
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Regional Insights –
Asia-Pacific was the largest region in the transportation and security system market in 2023. The regions covered in the transportation and security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the transportation and security system market are Bosch GmbH, Siemens AG, Raytheon Technologies Corporation, Lockheed Martin Corporation, Cisco Systems Inc., Honeywell International Inc., Broadcom Inc., ABB Ltd., BAE Systems plc, NEC Corporation, Safran SA, Thales Group, Alstom SA, L3Harris Technologies Inc., Leidos Holdings Inc., Assa Abloy AB, Hangzhou Hikvision Digital Technology Co. Ltd., ADT Inc., Fortinet Inc., Saab AB, Smiths Group plc, NortonLifeLock Inc., QinetiQ Group plc, Cubic Corporation, OSI Systems Inc., FLIR Systems Inc., Kapsch TrafficCom AG, Rapiscan Systems Inc., ORBCOMM Inc.
Table of Contents
1. Executive Summary
2. Transportation And Security System Market Report Structure
3. Transportation And Security System Market Trends And Strategies
4. Transportation And Security System Market – Macro Economic Scenario
5. Transportation And Security System Market Size And Growth
…..
27. Transportation And Security System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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