Outlook of the global mass transit security market
Technavio’s market research analyst predicts the global mass transit security market to grow steadily at a CAGR of around 9% by 2021. One of the major drivers responsible for this growth is the increasing need for public safety. A constant rise in the crime rate and an ever-increasing number of criminal attacks has raised awareness of security among local and federal governments. For instance, in August 2015, a heavily armed man attacked commuters on a train in France. Such terror attacks are increasing worldwide, and corrective methods are being taken especially in mass transit locations such as bus stops, railway stations, airports, and marine ports. Since catastrophic attacks can lead to irreparable losses, transit security systems are helpful in monitoring and scanning people and their luggage. Also law enforcement agents are expected to take precautionary measures to avoid such incidences.
The rising number of terrorist attacks has led to an increase in the demand for chip-embedded passports, also known as e-passports. With the rising number of cross-border travelers, the need for a better passport authentication method has become a priority for authorities across the globe. E-passports are embedded with smart chips that generate a unique code for the identification of the user. These codes are difficult to decode or forge, making e-passports more reliable than traditional paper booklets. The adoption of e-passports is rapidly increasing in European countries such as Finland, the Netherlands, Germany, France, Poland, Greece, and Macedonia.
Competitive landscape and key vendors
The mass transit security systems market is highly fragmented due to the presence of many small and large vendors. As the market is gaining traction and is expected to grow over the forecast period, many new players are entering the market. To survive this intensely competitive environment, it has become imperative for vendors to distinguish their products and services offered, through clear and unique value propositions. The market is expected to see intensified competition with an increase in product/service extensions, technological innovations, and mergers and acquisitions. Competition in this market is expected to intensify during the forecast period with the increase in development of new technologies and product lines.
Leading vendors in the market are -
- Axis Communications
- Bosch Security Systems
- NICE Systems (Qognify)
- Panasonic
- Tyco
The other prominent vendors in the mass transit security market include AngelTrax, Cisco Systems, Fortem, Genetec, Hikvision Digital Technology, IndigoVision, Intergraph, Kratos Defense and Security Solutions, and Teleste.
Segmentation by components and analysis of the mass transit security market
- Access Control
- Surveillance
- Infrastructure Security
During 2016, the infrastructure security segment dominated the mass transit security market and accounted for a major part of the overall market share. The rise in the number of criminal activities, theft, and unauthorized access to secure areas, has increased the threat to infrastructures across the globe. Moreover, the rising number of infrastructure attacks have drastically increased the awareness of people for infrastructure security; this increasing awareness level has given rise to the rapid adoption of infrastructure security systems worldwide.
Geographical segmentation and analysis of the X-band radar market
In this market study, analysts have estimated, the Americas are dominating the global mass transit security market during 2017. Since the 9/11 attack in 2001, the US authorities have taken precautionary measures to implement security systems to defend against possible terrorist attacks on parts of the ground transportation systems including subways, railroad trains, and bridges. The transportation sector is the most vulnerable to various types of threats, as millions of people in the US use mass transit systems every day and there is no fixed way to protect buses and trains from terror attacks.
Key questions answered in the report include
- What will the market size, market forecast and the growth rate be of the global mass transit security market in 2021?
- What are the key factors driving the global mass transit security market?
- What are the key market trends impacting the growth of the global mass transit security market?
- What are the challenges to market growth of the global mass transit security market?
- Who are the key vendors in the global mass transit security market?
- What are the market opportunities and threats faced by the vendors in the global mass transit security market?
- Trending factors influencing the market shares of the of the global mass transit security market in Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global mass transit security market?
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