Market Research Future published a research report on “Contraband Detectors Market Research Report- Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The global contraband detectors market is estimated to reach USD 6.2 billion by 2027, registering a CAGR of 5.83% during the forecast period of 2021–2027. The market has a substantial growth potential owing to numerous factors, including increasing adoption of x-ray screening machines in the travel &transportation sector and growing adoption of contraband detectors in retail places primarily due to rising security concerns in public places including malls, and commercial establishments, among others.
Increasing incidents by extremist elements that can potentially lead to substantial risk to life and property have boosted the adoption of these machines over the past two decades. Security checks and drills at malls, airports, train stations, and other large venues such as stadiums and hotels have become part of the standard procedure to access these places. A marked increase in the trade of illegal narcotics and drugs over the past few years has further driven the Contraband Detectors Market growth.
However, the significant initial investment and higher maintenance and operational costs associated with large security systems are among the key factors restricting the growth of the contraband detector market. Contraband detector systems are increasingly used to enforce security and safety standards at public places, transit facilities, government organizations, commercial buildings, banks, critical infrastructure such as hospitals and educational institutions; however, they come at a high cost of ownership.
Many of these places require costly explosive detectors, for which the operational cost is equally high.For example, full-body X-ray scanners require a huge initial investment. Additionally, the maintenance cost of numerous explosive detectors is comparatively higher than other technologies. All these factors could result in a reluctance to deploy security measures at facilities. This is likely to impact the contraband detector market negatively in the coming years.
The market experienced a fall in March 2020, owing to the impact of COVID-19 lockdown. Supply chains were disrupted due to the global lockdown imposed by various governments and labor and raw material shortages in industries due to restrictions greatly affect the contraband detector market.
The prominent players in the global contraband detectors market are Smiths Group (UK), OSI Systems (US), Leidos (US), Nuctech (China), Metrasens (UK), Adani Systems (India), Berkeley Varitronics Systems (US), CEIA (Italy), CSECO (US), and Godrej Security Solutions (India).
Contraband Detectors Market - Segmentation
Based on screening type, the contraband detectors market has been categorized as people, baggage & cargo, and vehicle. The baggage & cargo is projected to account for the largest share during the review period. Early adoption of the technology in the baggage & cargo segment and the use in theatres and malls have led to the growth of technologies in this segment. The advancements in material sensing and tactical deployment in sensitive areas are expected to revolutionize the contraband detectors market as well, with new technologies introduced, which will boost the reach and capacity of detectors globally. However, the vehicle segment is predicted to register the highest CAGR owing to the increasing adoption of this technology.
Based on the technology, the contraband detectors market has been categorized as X-ray, metal detection, spectrometry & spectroscopy, and others. The X-ray segment dominated the market in 2019owing largely to consumer preference as the technology and ease of adoption. Spectrometry & spectroscopy technology is also projected to witness increasing market share owing to growing awareness regarding the technology coupled with increasing tangible results presented through the extensive use of detection devices. The metal detection segment is expected to register the highest CAGR during the forecast period from 2021 to 2027, owing to the growing application of technology in airports, ports, and large social gathering venues.
Contraband Detectors Market - Regional Analysis
The contraband detectors market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
North America, followed by Europe, is expected to be the largest market in the forecast period owing to the high concentration of market players and the abundant availability of competent technical expertise. Additionally, the increasing demand for operative contraband detectors and effective surveillance management of large events and the rising consumer interest in technologies in the region further drive the growth of the contraband detectors market. Additionally, the market in Asia-Pacific is projected to register a significant CAGR during the forecast period.
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