Dublin-based market research firm Research and Markets is predicting continued growth for the security screening industry. The firm’s new report, “Security Screening Market by Product, By Application, And by Geography – Analysis and Forecast to 2013 – 2020,” indicates that the market is projected to grow by 9.46 percent per year from now until 2020, when it will reach a valuation of $9.10 billion.
The researchers note that while North America’s elaborate security apparatus continues to dominate the worldwide security screening market, holding a share of 38 percent, the Asia-Pacific region is going to see significant growth up to 2020, and will claim 10.14 percent market share. Brazil is also projected to experience significant growth as it ramps up for the Rio 2016 Olympics, and has already started to embrace security screening technologies with this year’s FIFA 2013 soccer tournament.
Security screening can involve a number of technologies including X-ray imaging, electromagnetic detection devices, and, of course, biometric scanners. Singapore and India have both been in the news recently for their efforts to integrate biometric security systems at major transportation terminals, while America’s federal authorities are starting to work with private biometric security providers to improve the efficiency of their security check-in processes at airports.
October 14, 2014 – by Alex Perala