Global Transportation and Security Systems Market to Reach $151.1 Billion by 2030
The global market for Transportation and Security Systems estimated at US$79.6 Billion in the year 2023, is expected to reach US$151.1 Billion by 2030, growing at a CAGR of 9.6% over the analysis period 2023-2030. Transportation and Security Systems for Roadways, one of the segments analyzed in the report, is expected to record a 10.5% CAGR and reach US$59.8 Billion by the end of the analysis period. Growth in the Transportation and Security Systems for Railways segment is estimated at 8.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $24.7 Billion, While China is Forecast to Grow at 8.9% CAGR
The Transportation and Security Systems market in the U.S. is estimated at US$24.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.5 Billion by the year 2030 trailing a CAGR of 8.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9% and 7.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR.
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