Global Passenger Security Market Report and Forecast 2023-2028

Global Passenger Security Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global passenger security market reached a value of USD 5.7 billion in 2022. Aided by the increasing emphasis on public safety, adoption of advanced security technologies, and the burgeoning air and urban transit traffic, the market is projected to further grow at a CAGR of 7.10% between 2023 and 2028 to reach a value of USD 8.6 billion by 2028.

Passenger security involves a set of protocols, technologies, and solutions designed to protect individuals using various modes of transportation, such as airplanes, trains, and buses, from potential threats and incidents. The market is getting shaped, given the growing complexity and sophistication of security threats around the world.

The urgency for enhanced passenger security systems is propelled by the mounting threat of terrorist attacks, increased crime rates in urban transit systems, and growing public awareness and demand for safety. This urgency is driving significant investments in technology and innovations aimed at keeping passengers safe, without compromising the speed and convenience of travel.

Emerging technologies, such as Artificial Intelligence (AI), biometrics, and advanced surveillance cameras, are at the forefront of the passenger security market growth. These technologies enable quicker and more effective screening processes at airports, railway stations, and bus terminals. For instance, AI-powered solutions can rapidly analyse large volumes of security data, offering the potential to identify potential threats in real time and significantly enhance response capabilities.

Regulatory requirements are a significant driver in the passenger security market expansion. Government agencies around the world are implementing stringent security protocols that transportation services must comply with. These regulations, which are becoming increasingly harmonised across regions, necessitate significant investments in security technologies and personnel training.

The North American region is a major contributor towards the global passenger security market share driven by substantial investments in airport security, advanced technologies, and a stringent regulatory environment. Europe follows closely, spurred by significant spending on railway security solutions. The Asia-Pacific region is emerging as a key player, owing to rapid urbanisation and the massive growth in air travel.

As per the passenger security market analysis, the integration of the Internet of Things (IoT) in security systems appears promising. IoT devices can collect extensive data on passenger movements and behaviours in real-time, offering potential for more proactive and responsive security measures. Blockchain technology, known for its ability to securely and transparently track transactions, is another emerging trend. It has potential applications in ensuring the integrity of the security process, from the manufacturer of a security device through to its deployment and the analysis of the data it generates.

Further, as urban transportation networks expand and evolve, the need for security solutions that can integrate across multiple modes of transport (e.g., from trains to buses to airplanes) will grow. This represents an area of likely future investment and innovation.

Market Segmentation

The market can be divided based on equipment type, end use, and region.

Market Breakup by Equipment Type

• Baggage Inspection System
• Explosive Detection System
• Video Surveillance System
• Intrusion Detection and Prevention Systems
• Fire Safety and Detection System
• People Screening Systems
• Others

Market Breakup by End Use

• Airports
• Train Stations
• Bus Stations
• Seaports
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global passenger security market. Some of the major players explored in the report by Expert Market Research are as follows:

• Adani Systems Inc.
• Advanced Perimeter Systems Limited
• Autoclear LLC
• Axis Communications AB
• Bosch Sicherheitssysteme GmbH 
• L3Harris Technologies, Inc.
• C.E.I.A. S.p.A.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.