Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Passenger Security Equipment Market size is expected to reach $105.9 billion by 2028, rising at a market growth of 8.6% CAGR during the forecast period.
The Services segment has shown growth rate of 10.8% during (2022 - 2028). Many companies provide traveller security services to the railway, airport, and bus administrations to reduce costs and increase the degree of security at these locations. These services also include cabin crew screening, passenger screening, and non-passenger screening.
The Airport segment acquired maximum revenue share in the Global Passenger Security Equipment Market by Transport Infrastructure in 2021, thereby, achieving a market value of $40,654.5 million by 2028. The majority of baggage and cargo thefts are performed by airport employees, such as airline airport workers and security screening officers. The fact that these employees have a valid need to examine baggage, especially security screening staff who have the power to open a bag if they believe a physical examination of the contents is necessary to maintain the flight's security, makes catching this type of crime difficult.
The Intrusion Detection & Prevention System segment is showcasing a CAGR of 9.3% during (2022 - 2028). Intrusion detection is the act of continuously monitoring and analysing network events for signals of potential incidents, violations, or dangers to the security policy. Intrusion prevention refers to the process of detecting intrusions and then terminating the detected occurrences. Intrusion detection systems (IDS) and intrusion prevention systems (IPS) are network security solutions that identify and prevent future attacks.
The Asia Pacific market dominated the Global Passenger Security Equipment Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $38,269.5 million by 2028. The Europe market is estimated to witness a CAGR of 8.1% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 7.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, L3Harris Technologies, Inc., Smiths Group PLC, Autoclear LLC, Kapsch TrafficCom AG, Honeywell International, Inc., Axis Communications AB, Bosch Security Systems GmbH, Rapiscan Systems, Inc., and SITA.
By Transport Infrastructure
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