Contraband Detector Market Set to Grow at the Fastest Rate
Posted by edwardzmusso on September 30th, 2021
The global contraband detector market size is estimated to grow from USD 3.9 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 7.5%. The market declined in 2020, mainly due to the impact of COVID-19. The industrial supply chain was disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the contraband detector market. Though the market is expected to be impacted in 2020, it is expected to fully recover by 2021. The increasing security concerns due to rapid urbanization and the growing adoption of contraband detectors in transportation applications are expected to drive the contraband detector market.
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Likewise, the use of contraband detectors in various applications and technological advancements in contraband detectors is expected to propel the demand for contraband detectors systems during the forecast period.
Increasing threats at critical places such as airports, borders, and government facilities have led to the high adoption of security measures. Over the past couple of decades, the number of passengers at airports is increasing. Due to the ease in trading policies, transportation and cargo services across the world are increasingly being adopted, thereby fostering the use of screening technologies at critical places. X-ray screening technologies such as backscatter and computed tomography (CT) are largely used at various critical places worldwide. One major drawback of these X-ray technologies is the high time required for screening baggage and cargo. However, the use of advanced technologies such as AI and IoT will not only reduce the screening time but also ensure the accurate detection of contraband items in baggage and cargo. Governments from various countries have been investing in new AI-based security systems.
Metal detection technology for contraband detector market is expected to grow at a highest CAGR during the forecast period. The market for metal detector technology is growing as metal detectors are widely used at retail stores and malls, hospitality facilities, hospitals, banks, and educational institutions, as well as during events and sports. Furthermore, there have been cases where significant threats have been caused to human life due to x-ray imaging technologies. Also, there have been advancements in metal detection technologies as a result of which the market is expected to grow at a significant rate during the forecast period.
The contraband detector market for people screening type is expected to grow at the highest CAGR during the forecast period. This is mainly due to the rising number of incidents of terror activities, coupled with the increasing flow of different types of contraband items by people, that many companies have invested and launched products to detect people carrying contraband items. It is observed that humans use more sophisticated techniques and means to carry illicit items, such as metallic and non-metallic weapons, and plastic and liquid explosives. Also, several drug dealers use human bodies as containers for drug transportation. Hence, the deployment of technologically advanced screening and security solutions has become of utmost importance for people screening. All these factors are expected to drive the market for people screening during the forecast period.
The market in Asia Pacific is expected to register the highest CAGR during 2021–2026. Rising security concerns which has increased the adoption of contraband detectors is one of the major driving factors for the market growth. The rising trend of adoption of advanced technologies including thermal temperature sensing detectors and touchless technologies is expected to create growth opportunities for contraband detector market. Furthermore, several busiest airports in the world and seaports located in this region provide growth opportunities to the contraband detector market in APAC. There has been rising demand for infrastructural development which has ultimately caused rise in need for contraband detectors in APAC. The growing adoption of contraband detectors in retail and transportation is expected to drive the growth of market in APAC.
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Joined: February 8th, 2021
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