DUBLIN–(BUSINESS WIRE)–The “Global Contraband Detector Market with COVID-19 Impact Analysis by Technology (X-Ray, Metal, Spectroscopy), Screening Type (People, Baggage & Cargo, Vehicle), Deployment Type (Fixed, Portable), Application and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global contraband detector market is expected to grow from USD 3.9 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 7.5%.
The market has a promising growth potential due to several factors, including growing adoption of x-ray screening technology in the transportation industry and rising adoption of contraband detectors in retail applications during rising security concerns in public places such as shops, malls and others.
The major factor restraining the growth of the contraband detector market is the huge initial investment and higher operational and maintenance costs associated with security systems. Contraband detector systems are widely used to ensure security and safety at transit facilities, public places, hospitals, government organizations, banks, commercial buildings, educational institutions, critical infrastructure, etc., however, they have a high cost of ownership.
Many of the aforementioned places require costly explosive detectors for which the operational cost is equally high. For instance, full-body X-ray scanners require a huge initial investment. Also, the maintenance cost of several explosive detectors is comparatively high. All these factors may result in a reluctance to deploy security measures at facilities This is expected to impact the contraband detector market negatively in the coming years.
The market declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the contraband detector market. Though the market has been impacted in 2020, it is expected to fully recover by 2021.
Metal detection technology is the fastest-growing segment of the contraband detector market by technology type. There have been several technological advancements in metal detection systems owing to COVID-19. Many players have started offering metal detectors integrated with temperature sensing technology or thermal imaging which is driving the market for metal detection. Furthermore, exposure to high levels of X-rays can increase the risk of cancer and cardiovascular diseases hence x-ray technology is being replaced by metal detection technology by many organizations. This is expected to drive the market for metal detection technology during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Impact of Drivers and Opportunities on Contraband Detector Market
Figure 20 Impact of Restraints and Challenges on Contraband Detector Market
Figure 21 Increasing Security Concerns due to Rapid Urbanization Drive Contraband Detector Market Growth
5.2.1 Drivers
5.2.1.1 Growing Security Concerns due to Rapid Urbanization
5.2.1.2 Rising Government Investments for Improvement of Existing Transit Facilities and Construction of New Transit Locations, Especially Airports
5.2.1.3 Ongoing Technological Advancements in Security Screening Systems and Revised European Union Threat Detection Standards
5.2.2 Restraints
5.2.2.1 Huge Initial Investment and Higher Operational and Maintenance Costs Associated with Security Systems
5.2.3 Opportunities
5.2.3.1 Digital Transformation Through Inclusion of AI Technology in Security Applications
5.2.3.2 High Importance of Security Measures in Aviation and Retail Applications
5.2.4 Challenges
5.2.4.1 Medical Threats Posed by Full-Body Scanners
6 Contraband Detector Market, by Technology
7 Contraband Detector Market, by Screening Type
8 Contraband Detector Market, by Deployment Type
9 Contraband Detector Market, by Application
10 Contraband Detector Market, Geographic Analysis
11 Competitive Landscape
12 Company Profiles
3DX-Ray Adams Electronics Adani Systems Astrophysics Autoclear Aventura Technologies Berkeley Varitronics Systems Bruker Ceia Cseco Garrett Metal Detectors Gilardoni Global Security Solutions Godrej Security Solutions Leidos Metrasens Nuctech OSI Systems PKI Electronic Intelligence Ranger Security Scanna Smiths Group Vidisco Voti Detection Westminster For more information about this report visit https://www.researchandmarkets.com/r/fxv08l
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