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Threat Detection Systems Market size is estimated to grow by USD 94.14 billion between 2022 and 2027 accelerating at a CAGR of 12.75% during the forecast period. The increasing number of terrorist activities has heightened the need for enhanced security measures, leading to higher demand for security devices. The growing demand for large-scale surveillance in public places, such as airports, train stations, and stadiums, is driven by the need to ensure public safety and prevent potential threats. Tightening regulations for security devices, aimed at improving security standards and compliance, also drive market growth as companies upgrade their security systems to meet regulatory requirements.
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This market research report extensively covers market segmentation by application (defense, commercial, industrial, public infrastructure, and residential), type (hardware, software, and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth of the defense segment will be significant during the forecast period. Defense forces use complex and multi-layered screening solutions to maintain top-level security, thereby allowing personnel to focus on important missions instead of securing their infrastructure. Hence, the increase in terrorist attacks and rising concerns regarding the safety of defense infrastructure are boosting the demand for these solutions for defense applications.
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The defense segment was valued at USD 17.21 billion in 2017 and continued to grow until 2021. Globally, government bodies and militaries face the challenge of protecting their forces and societies against terrorist attacks. Terrorism poses a real threat to the security and safety of troops, civilians, and critical infrastructure. Thus, defense infrastructure and other high-security government installations need to be secured properly. The rising need for the defense to focus on important missions instead of securing their premises will facilitate the market for detection systems during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is one of the most technologically advanced regions in the world due to the high adoption rate of advanced and emerging technologies. The region contains several manufacturers and component suppliers. Some of the leading companies in the region include RAE Systems, FLIR Systems, ChemImage Corp., and Vectra AI Inc. The presence of numerous companies, coupled with the growing focus on R&D activities, especially technologies such as high-energy laser systems, which will make them more reliable and efficient, will further boost the demand. companies are also using these technologies and launching new products. Additionally, growing terrorist activities and geopolitical issues are expected to increase the demand. Public infrastructure is highly impacted by such activities and hence generates the highest demand. As a result, the deployment of them has increased in places such as airports and railways.
The market is rapidly evolving, driven by advancements in Artificial Intelligence (AI), Machine Learning (ML), and sensor technology. These technologies enable data analytics and enhance the capabilities of in identifying various hazards, including explosives, weapons, and chemical, biological, radiological, and nuclear (CBRN) threats. The market also benefits from innovations in imaging techniques and software algorithms, which improve accuracy and speed. The increasing adoption of IoT and advanced security systems in airports, commercial centers, and tourist destinations further drives market growth. The study objectives include analyzing market trends in the Rest of the World (RoW) region and providing insights into the market's value chain, including profiles of primary players, raw material suppliers, component suppliers, and system designers. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing number of terrorist activities is notably driving market growth. With the surge in territorial conflicts, geopolitical instability, and terrorist activities, the demand for advanced methods such as advancement in sensor technologies has witnessed a notable uptick. The escalating frequency of terrorist attacks underscores the urgency for sophisticated security systems capable of thwarting potential threats.
For instance, metal detectors serve as vital tools for identifying explosives or firearms concealed in public spaces. Likewise, advanced radar systems play a crucial role in detecting and intercepting threats breaching aerial boundaries. This growing imperative for enhanced security solutions, including biometric systems, explosive detectors, and video surveillance systems, is poised to propel market growth in the foreseeable future.
The convergence of Artificial Intelligence (AI), Machine Learning (ML), data analytics, and IoT, along with advancements in sensor technology and imaging techniques, is driving innovation in security systems. These solutions find application across various sectors, including airports, commercial centers, and tourist destinations, in mitigating risks posed by explosives, weapons, and chemical, biological, radiological, and nuclear (CBRN) hazards. As the market continues to evolve, thorough studies are essential to understanding industry dynamics and fulfilling security objectives, driving the adoption of advanced security measures worldwide.
The use of emerging technologies for increasing efficiency is the key trend in the market. They are one of the most important components that are being used to detect threats, and different techniques are being utilized to develop efficient solutions. Artificial intelligence (AI)-based techniques play a prominent role in the development. Various companies are using these emerging technologies to make their products more efficient and investing in R&D to have a competitive edge over others. Machine learning (ML) is an AI discipline and a key driver of many practical advances associated with this field.
Similarly, predictive analytics, a branch of advanced analytics, is being used to make predictions about unknown future events. Predictive analytics uses many techniques, from data mining, statistics, modeling, ML, and AI, to analyze current data to make predictions. With the use of such technologies, the system is capable of learning continuously from the outcomes and improving itself to be more efficient and effective. The use of such technologies is expected to rise in the future and proliferate the market.
The high cost of threat detection systems is the major challenge impeding market growth. This high cost directly impacts the interest of the companies that are focusing on implementing and adopting new technologies. The cost of the implementation varies depending on various factors, such as the level of integration, functionalities needed, and the number of devices that need to be connected. To make them more seamless, a high level of integration is required, which, in turn, will increase the cost further.
Along with these factors, the cost and time to build a connectivity model for every single device in the network and on the premises are crucial and also add up to the cost associated. These additional expenses can be significant for regulatory authorities and should be factored into the budget. Overall, these factors increase the cost, which can be a challenge, especially for governments with a limited financial budget for IT spending. Hence, the high initial investment may harm market growth.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Vectra AI Inc. - The company offers threat detection system solutions such as Vectra MDR service, and Vectra TDR platform. This segment focuses on the Cognito platform which is an intelligent, AI-driven threat detection and response for cloud, and SaaS services across various industries.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market addresses a wide range of security risks, including radiological & nuclear (CBRN) hazards and illicit substances. With a focus on public health & safety, these systems are crucial for various environments such as shopping malls, office buildings, and entertainment venues. They help in identifying potential threats like fevers and respiratory issues and enforcing mask-wearing protocols. Utilizing E-beam technology and electron beams, these systems can detect concealed objects and contraband. They encompass various products like explosive detection systems, radiation detection systems, and chemical and biological detection systems, catering to the needs of the healthcare sector, military, defense & prison, institutional, and transportation and aviation sectors.
The market is evolving rapidly, with a focus on providing advanced cybersecurity solutions and innovative products for Small & Medium-sized Enterprises (SMEs). These systems encompass a variety of product types, including narcotics detection systems, X-ray Scanners, trace detection, infrared screening, and spectrometric devices. They are designed to meet the security needs of various sectors, including directors and executives. Through thorough market engineering processes and detailed profiles of primaries, the industry ensures the value chain analysis is robust, offering comprehensive security solutions.
Threat Detection Systems Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.75% |
Market growth 2023-2027 |
USD 94.14 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.45 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alert Logic Inc., Amazon.com Inc., Axis Communications AB, ChemImage Corp., Chemring Group Plc, Corptz, Fortra LLC, Group IB Service Ltd, Honeywell International Inc., LogRhythm Inc., Mirion Technologies Inc., OSI Systems Inc., PerimeterX Inc., Safran SA, Smiths Group Plc, Stellar Cyber, Synapse Technology Corp., Teledyne Technologies Inc., Thales Group, and Vectra AI Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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