How Has the Tourism Security Market Evolved Historically and What is its Current Size?
The tourism security market has seen considerable growth due to a variety of factors.
• The tourism security market has grown strongly in recent years, projected to increase from $4.9 billion in 2024 to $5.37 billion in 2025, at a CAGR of 9.7%.
Factors contributing to this growth include enhanced health and safety protocols, rising crime rates in tourist destinations, the influence of social media, and a preference for integrated security solutions.
What Is The Projected Growth Of The Tourism Security Template Market?
The tourism security market is expected to maintain its strong growth trajectory in upcoming years.
• The tourism security market is expected to reach $7.67 billion by 2029, growing at a CAGR of 9.3%.
This growth is driven by the rising number of international travelers, increasing awareness of safety concerns, terrorism threats, cyber risks, and higher spending on security measures. Key trends include the use of AI, biometrics, IoT in security solutions, demand for security in disaster-prone areas, smart surveillance systems, and investment in secure infrastructure.
What Are The Key Drivers Fueling Growth In The Tourism Security Market?
The expansion of global travel due to enhanced transportation choices, increased globalization, and a rise in disposable income is predicted to boost the tourism security market. Tourism security, which ensures the safety of travelers, guards their belongings, and offers help in emergencies, is crucial as people travel more frequently. As an illustration, the report released by the UK's Office for National Statistics in May 2023 stated that the UK received 31.2 million visits in 2022, a surge of 24.9 million from the previous year. Furthermore, 2022 saw an increase in the overseas trips of UK residents, from 51.8 million in 2021 to 71.0 million. Hence, the escalating global travel trend is propelling the tourism security market.
What Are The Principal Market Segments In The Global Tourism Security Industry?
The tourism security market covered in this report is segmented –
1) By Safety Issues: Tourism And Security Issues, Tourism And Crime Issues, Tourism Crisis Management Issues
2) By Technology: Video Surveillance, Access Control, Biometrics, IoT And Sensors, Cybersecurity Software
3) By Booking Channel: Phone Booking, Online Booking, In Person Booking
4) By Tourist Type: Domestic, International
5) By End-User: Airports, Hotels And Accommodations, Tourist Attractions, Transportation
Subsegments:
1) By Tourism And Security Issues: Physical Security, Cybersecurity, Infrastructure Protection, Terrorism And Threats, Surveillance And Monitoring
2) By Tourism And Crime Issues: Theft And Pickpocketing, Fraud And Scams, Sexual Harassment, Human Trafficking, Violent Crime And Assaults
3) By Tourism Crisis Management Issues: Emergency Response And Rescue, Natural Disaster Response, Health And Medical Emergencies, Evacuation Plans And Protocols, Crisis Communication And Public Relations
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What Trends Are Reshaping The Future Of The Tourism Security Market?
Leading companies in the tourism security sector are advancing solutions using state-of-the-art technology, for instance, platforms as a service. These platforms provide a scalable, flexible, and cost-effective route to launch and maintain security applications, removing the need to control the intricate details of the underlying infrastructure. Otherwise known as Platform as a Service (PaaS), this is a cloud computing model that provides developers with a complete platform, inclusive of hardware and software tools necessary for the creation, deployment, and administration of applications. In January 2023, for example, Battleface Insurance Company, which is a US-based travel insurance organization, unveiled Robin Assist. This global API-driven InsurTech platform has been created specifically for insurance carriers, brokers, MGAs, and self-insured enterprises. It provides an extensive travel insurance service with 24/7 customer help, emergency medical assistance and an efficient claims process. Other features it provides are managing medical cases, being able to access worldwide medical networks, containing costs, and instantly paying in more than 140 different currencies. The development of Robin Assist was based on the necessity for tech-driven solutions regarding emergency travel and medical assistance. The platform continues to provide top-notch service, thereby enhancing travel insurance brands globally.
Who Are the Key Players In The Tourism Security Market?
Major companies operating in the tourism security market are:
• IBM Corp.
• Honeywell International
• Johnson Controls
• NEC Corporation
• Allied Universal
• G4S Plc
• Securitas AB
• Transguard Group
• Bureau Veritas
• Serco Group Plc
• Prosegur
• Brink's Global Services
• Paladin Security Group Ltd.
• International SOS Ltd.
• Axis Communications
• Kroll LLC
• Verint Systems
• Control Risks LLC
• Smiths Detection
• Pinkerton Consulting & Investigations Inc.
• Andrews International
• MEDEX Global Solutions
• Global Elite Group
• CPS Security
What Are The Regional Insights Into The Tourism Security Market?
North America was the largest region in the tourism security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tourism security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
