Threat Detection Systems Market by Detection Type (Explosive, Radiological & Nuclear, Chemical & Biological, Narcotics, Intrusion), Product (Dosimeter, Laser, Radar, Video Surveillance, Biometric), Application, and Geography - Global Forecast to 2022
“Threat of terrorism is fueling the growth of the threat detection systems market.”
The threat detection systems market is expected to grow at a CAGR of 13.11% between 2016 and 2022 to reach USD 119.17 billion by 2022 from USD 48.38 billion in 2015. Threat of terrorism is the key factor which is increasing the demand for the threat detection devices including explosive detector, intrusion detector, radiological and nuclear detector, and others. Increasing demand for threat detection equipment, especially for commercial application, is one of the major factors fueling the growth of this market. The key restraining factor for the growth of the threat detection systems market is the complexities and high acquisition cost of these equipment.
“Market for Video surveillance systems to grow at the highest rate during the forecast period.”
The market for video surveillance systems is expected to grow at the highest rate. Growing need for surveillance systems at public infrastructure would boost the demand for video surveillance systems. Also, video surveillance systems are used on a large scale in commercial places such as offices, banks, retail shops, and healthcare clinics, among others for safety. Also, to minimize the threat of terrorist activities and crime scenes, video surveillance systems are deployed in the public places on a large scale.
“Commercial application is estimated to grow at a high rate during the forecast period.”
Commercial sector is expected to grow at the highest rate among all the applications. Intrusion detection systems are used on a large scale in office spaces, banks, lodging, and warehouses. Video surveillance systems and biometric systems are used on a large scale in the commercial sector to restrict the unauthorized access. Public infrastructure is the second-highest growing application for the threat detection systems market. Public avenues are targeted by terrorists. To minimize such incidences, threat detection devices are deployed in these places on a large scale.
“North Americas and APAC are the major markets for threat detection systems.”
North America is expected to hold the largest share of the threat detection systems market during the forecast period, while the market in APAC is expected to grow at the highest rate during the same period. China, Japan, and India are some of the major countries driving the growth of the threat detection systems market in APAC. A significant number of prominent companies offering threat detection equipment are based in North America. This is one of the major factors driving the growth of the threat detection systems market in North America.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the power over Ethernet solutions industry. The break-up of primary participants for the report has been shown below:
By Company Type: Tier 1 – 18 %, Tier 2 – 31%, and Tier 3 – 51%
By Designation: C-Level Executives – 26%, Directors – 40%, and Others – 34%
By Region: North America – 51%, Europe – 32%, APAC – 12%, and RoW – 5%
The report also profiles the key players in the threat detection systems market and analyzes their market ranking. The prominent players profiled in this report are Smiths Group PLC (U.K.), Safran S.A. (France), FLIR Systems Inc. (U.S.), Thales S.A. (France), Rapiscan Systems Inc. (U.S.), RAE Systems Inc. (U.S.), Chemring Group plc (U.K.), ChemImage Sensor Systems (U.S.), Mirion Technologies Inc. (U.S.), and Axis Communication AB (Sweden), among others.
This research report categorizes the threat detection systems market on the basis of type, product/ system, application, and geography. The report also provides the Porter’s five forces analysis, along with a description of each of its forces and their respective impact on the threat detection systems market; description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to buy the Report
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the threat detection systems market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report is expected to help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product launches & developments, partnerships, and mergers & acquisitions.