Passenger Security Market is projected to reach USD 7,770 Million by 2030 and register a CAGR of 6.91%. Passenger security alludes to the systems and strategies utilized to ensure travelers, staff, airship, dispatch, and other transportation modes/stations safety from unintentional/noxious mischief, wrongdoing, and different dangers. The passenger security equipment is used to safeguard passengers from accidentals harms, crimes, and other threats.
Market Synopsis
Global Passenger Security Market is expected to register significant growth during the forecast period owing to factors such as increasing global passenger traffic and the growing development of new ports and stations. Furthermore, the growing investment by the government of developed countries such as the US in advanced security equipment to offer enhanced security to its citizens is also expected to drive the growth of the market.
However, issues related to cybersecurity and the high cost of development might hamper the growth of the Passenger Security Market.
The growing adoption of advanced technologies, such as AI, blockchain, data analytics, and biometrics, to offer enhanced security to passengers is expected to drive the growth of the Passenger Security Market.
Market Drivers
Market Restraints
By Solution
By Investment Type
By End-User
By Region
Other Prominent Players
Smiths Detection (UK): Information on recent developments is a little scarce online, but they are a major player known for continuous innovation. You can expect them to be at the forefront of advancements in passenger security.
Honeywell International (US): They've been focusing on integrated security solutions. This means creating systems that combine various security technologies for a more holistic approach.
Axis Communications (Sweden): In 2019, they launched a new high-resolution, multi-directional camera offering 24/7 operation and 360-degree coverage. This improves situational awareness for security personnel.
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