Growth Opportunities in the Global Metal Detector Market
The future of the metal detector market looks attractive with opportunities in the government, commercial, consumer, food & beverage, pharmaceutical, and textile industries. The global metal detector market is expected to reach an estimated $1.6 billion by 2022 and is forecast to grow at a CAGR of 5.1% from 2017 to 2022. The major growth drivers for this market are rapidly increasing terrorism activities, expansion in infrastructure, and increasing stringency in government compliances in various sectors to maintain high level of security and safety.
Emerging trends, which have a direct impact on the dynamics of the metal detector industry, include increasing trend towards advancement in metal detector technology for superior performance and growing use of metal detectors in new applications such as sports and medical applications.