The Insight Partners

X-Ray Security Scanner Market Challenges, Key Vendor Analysis, Vendor Landscape by 2025

X-ray security scanner market is expected to grow from US$ US$ 3881.2 Mn in 2017 to US$ 5951.0 Mn by 2025 at a CAGR of 5.4% between 2018 and 2025.

 

Pune, India -- (SBWIRE) -- 03/26/2019 -- Latest market study on "X-ray Security Scanners Market to 2025 by Product Type (Body Scanner and Baggage Scanner); and End-user (Air Transport, Land Security, Commercial Malls and Multiplexes, Government & banks, and Postal Items) - Global Analysis and Forecast?, the X-ray Security Scanners Market is estimated to reach US$ 5.95 billion by 2025 from US$ 3.88 billion in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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Asia Pacific is the leading region in the X-ray security scanners market. The e-commerce industry of Asia Pacific region is flourishing attributed to the presence of several in the developing countries in the region. Further, the rising proliferation of internet connectivity and increasing penetration of smartphones is another factor driving the demand for e-commerce in Asia Pacific. Further, the increasing government spending on the infrastructure sector of the region is propelling the deployment of X-ray security scanners in the region.

Some of the major players operating in the market of X-ray security scanner include Astrophysics, Inc., ADANI, Eurologix Security Group, L3 Security & Detection Systems, NUCTECH COMPANY LIMITED, OSI Systems, Inc., Gilardoni S.p.A., Kromek Group plc, Smiths Detection Inc., and TELEDYNE ICM.

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This report contains:

-Market sizing for the global X-ray Security Scanner Market.
-Compare major X-ray Security Scanner providers strategies and approaches to the challenges they face
-Analysis of the effects deglobalisation trends may have for X-ray Security Scanner providers
-Profiles of major X-ray Security Scanner providers
-6-year CAGR forecasts for X-ray Security Scanner -intensive vertical sectors

E-commerce industry is growing rapidly across the globe, with each passing day, a new e-commerce market is coming into existence and the established markets are reaching new heights. E-commerce sales globally is expected to grow fiercely in 2017, it is expected that the market will account for one-tenth of total retail sales worldwide. China and the U.S. are expected to lead the industry with a share of US$ 1.6 Tn in 2017, which is approx. 70% of total e-commerce market. Furthermore, this will increase the growth of cross-border transfer of goods. This would result in deployment of enhanced security equipment for scrutinizing goods that enter or exit the border of the countries. Thus, the demand for X-security scanners is anticipated to increase. This has resulted in increasing air cargo traffic. As per IATA, global air freight market grew by 9% (measured in AFTKs) in 2017, representing over double the annual growth recorded in 2016. The growth in air cargo will result in increased deployment of X-ray scanning devices in ports, cargo facilities, warehouses etc.

The sales of X-ray security scanner is largely influenced by numerous factors. On the basis of product type, baggage X-ray security scanner is dominating the global X-ray security scanner market owing to enhanced security requirements at places with large mass population such as airports, shopping malls, stadiums etc. Further, government buildings, customs, and borders need improved safety equipment to evade the risk of terrorism, illegal immigrations, and transfer of contrabands.

Further, the market heavily depends on the changing government standards and budgets. For instance, the EU has recently passed a legislation mandating every airports in the region to update their baggage screening systems to comply with standard 3 of ECAC by 2020. However, for U.K. airports, the deadline in 2018. Also, in 2011, EU banned the use of X-ray full-body scanners across all the airports in the region, followed by the U.S. and China.

The growth has been noticed in the commercial infrastructure of emerging economies, resulting in construction of new shopping malls, hospitals, stadiums, and other commercial buildings. The deployment of X-ray security scanners in these buildings and airports, is expected to boost the market growth.

The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market.

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Key Benefits

-This report provides a detailed study of market trends and forecast from 2019 to 2025, which assist to identify the prevailing market opportunities.

-In-depth coverage of the global market that includes drivers, restraints, and opportunities, helps professionals to understand the market behavior in a better way.

-This study further includes market share analysis in terms of type and applications.

-Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.

-Porter's Five Forces analysis examines the competitive structure of the market and assists strategists in better decision-making.