Global Security Metal Detector Market Status and Prospect, Forecast 2018 to 2026
Posted by Andreas Winkler on February 16th, 2018
A security metal detector is an electronic device which detects the presence of metal nearby. Metal detectors are useful for finding metal inclusions hidden within objects, or metal objects buried underground. Security metal detectors are functioning upon the sensors, if any piece of metal come into contact with sensors then the device gives an indication in the form of audible or visual signals.
The market for security metal detectors (https://marketresearch.biz/report/security-metal-detector-market/) is likely to gain high momentum in the coming years, due to government"s increasing focus on fighting terrorism and growth in commercial sectors. Moreover, heightened investments in infrastructural developments for public such as airports, hotels, commercial spaces, malls and others; has increased the need for stricter surveillance. Sectors including government, commercial, food & beverages, consumer, pharmaceuticals and textiles are the key end-users for the global security metal detectors market.
Other important factors that are likely to fuel growth of the metal detectors market are new technological advancements made in the products for enhanced performance and the increased usage of metal detectors in additional spaces such as hospitals and sports stadiums.
The market is segmented under two main product types, namely - handheld and static metal detectors. Static metal detectors is expected to attain the largest share, due to its application in sectors such as pharmaceuticals, food & beverages, hospitals, airports and others. Yet, handheld metal detectors are likely to foresee a higher growth over the forecast period.
Nonetheless, high cost of technology is likely to be a key restraining factor which will hamper growth of the security metal detectors market. Some government also regulate the usage of metal detectors in the mining sector which is likely to have an adverse effect on the market.
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The global security metal detector market is segmented on the basis of product type, technology, application, and region. The regions covered are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Amongst the various geographical region, Asia Pacific is expected to remain a major revenue contributor to the global security metal detectors over the forecast period. North America and Europe are expected to witness significant CAGR over the forecast period for global security metal detectors. Latin America and Middle East & Africa are estimated to expand at a slower growth rate as compared to Asia Pacific, North America and Europe.
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