Security Screening Market to Witness Contraction, as Uncertainty Looms Following Global Coronavirus Outbreak
Analysts at Future Market Insights find that the global Security Screening market has been evolving at a CAGR of xx% during the historic period 2013-2017. The market study suggests that the global market size of Security Screening is projected to reach ~US$ xx Mn/Bn by the end of 2028 with a CAGR of xx% over the stipulated timeframe 2018-2028.
The COVID-19 pandemic has been posing measurable impact on the global economy and, in turn, on the Security Screening market. Quarantines, traveling constraints, and social distancing measures on a broad-scale drive a steep decline in business and consumer spending until the end of Q2. This research work intends to offer market players with a viewpoint on the changing scenario and implications for the market players.
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Looking at the loopholes in current security screening models in terms of efficiency and sustainability, airports have been accelerating the industry’s shift to smart security screening solutions, over the recent past. A combined initiative of Airports Council International (ACI) and the International Air Transport Association (IATA), smart security is emerging as a streamlined solution for airlines, passengers, and their belongings. Recently, Australia’s first-ever smart security screening checkpoint was unveiled at the Melbourne Airport.
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Westminster Group PLC, one of the key players competing in security screening market, recently completed the acquisition of Keyguard UK Ltd. The latter is a leading company in the security screening space, providing the blend of manned security and the latest technology enabled security screening systems. The former will now offer packages combining technology and guarding – particularly to the infrastructure security domain. This deal is expected to benefit both the business bases, in form of multiple cross-selling opportunities.
Besides Westminster, FMI’s report covers detailed strategic profiles of some of the most prominent companies operating in security screening market landscape, including American Science and Engineering, Inc., Analogic Corporation, Argus TrueID, Aware Incorporation, Digital Barriers, Mangal Security Systems Ltd., OSI Systems, Inc., Smiths Group plc, LAXTON GROUP, NEXT Biometric, Aratek, NEC Corporation, and Cognitec Systems GmbH..
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What does the Security Screening market research holds for the readers?
- One by one company profile of key vendors.
- Influence of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Security Screening market.
- Evaluation of supply-demand ratio in every end use industry.
- Regional analysis on the basis of market share, growth outlook, and key countries.
- Positive and negative aspects associated with the consumption of Security Screening.
The Security Screening market research clears away the following queries:
- What is the present and future outlook of the global Security Screening market on the basis of region?
- What tactics are the Security Screening market vendors implementing to give tough competition to their business counterparts?
- What are the macro- and microeconomic factors affecting the global Security Screening market?
- Which end use segment is spectated to lead by the end of 2029?
- Why region has the highest consumption of Security Screening?
COVID -19 : Impact Analysis @ https://www.futuremarketinsights.com/covid19/rep-gb-2673
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