What Is The Current and Historic Market Size Analysis Of The Transportation And Security System Market?
The transportation and security system market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a significant increase in the size of the transportation and security system market. It is projected to expand from $18.4 billion in 2024 to $20.4 billion in 2025, with a compound annual growth rate (CAGR) of 10.9%.
The considerable growth during the historical period can be ascribed to the rise in efficiency, reduction in traffic congestion, and enhancement of user experience via intelligent transport systems. Factors such as increasing urbanization, population growth, concerns around cybersecurity, and initiatives for smart cities have also contributed to the market's expansion.
What Is The Forecast For The Transportation And Security System Market Size?
The transportation and security system market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for significant expansion in the transportation and security system market in the coming years, with projections pointing to a growth to $29.13 billion by 2029 at a compound annual growth rate (CAGR) of 9.3%.
Contributing factors to this predicted growth in the forecast period include the rapid pace of urbanization which is likely to increase sales in the cold storage sector, an escalating demand for smart transportation, government regulatory measures, environmental sustainability concerns, and traffic congestion. Technological advancements in areas such as video surveillance, screening, surveillance technologies, artificial intelligence integration, machine learning, and cybersecurity solutions are predicted to be major trends throughout the forecast period.
What Are The Essential Drivers Behind The Growth Of The Transportation And Security System Market?
The transportation and security system market is experiencing a surge in growth due to the escalating desire for smart transportation. The term smart transportation is associated with the application of the latest technologies and management tactics in transportation networks to optimize efficiency, safety, and comfort. The infrastructure, technologies, and services essential for establishing efficient, secure, and sustainable transportation networks are provided by transportation and security systems to aid smart transportation projects. For instance, in the month of December in 2022, the Insurance Institute for Highway Safety, a non-profit organization based out of the US, published a report estimating that about 3.5 million autonomous or self-driving vehicles would occupy American roads by the year 2025. Furthermore, by 2030, the number of autonomous vehicles is expected to reach 4.5 million. Thus, the transportation and security system market's expansion can be attributed to the growing demand for smart transportation.
How Is The Global Transportation And Security System Market Divided Into Key Segments?
The transportation and security system market covered in this report is segmented –
1) By Component: Surveillance Systems, Access Control Systems, Perimeter Intrusion Detection Systems, Biometric Identification Systems, Command And Control Centers
2) By Modes: Roadways, Railways, Airways, Seaways
3) By Application: Critical Infrastructure Protection, Passenger Screening And Safety, Traffic Monitoring And Management, Freight And Cargo Security
Subsegments:
1) By Surveillance Systems: Video Surveillance Cameras (CCTV), Video Analytics, Video Management Software (VMS), Sensors And Detectors, Pan-Tilt-Zoom (PTZ) Cameras
2) By Access Control Systems: Card-Based Access Control, Biometric Access Control, Smart Card Access Control, Mobile-Based Access Control, Keypad And PIN Access Control
3) By Perimeter Intrusion Detection Systems: Fence Mounted Detection Systems, Ground-Based Detection Systems, Motion Detectors, Laser-Based Intrusion Detection, Radar And Acoustic Sensors
4) By Biometric Identification Systems: Fingerprint Recognition, Facial Recognition, Iris Recognition, Voice Recognition, Hand Geometry Recognition
5) By Command And Control Centers: Security Management Systems, Emergency Response Systems, Integrated Communication Systems, Data Analytics And Visualization Tools, Incident Management Systems
Pre-Book The Transportation And Security System Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Transportation And Security System Market?
Leading corporations in the market of transportation and security systems are introducing innovative solutions such as passenger screening equipment aimed at barring prohibited items and threats from breaching airport High-security areas. This form of passenger screening is utilized in transportation safety. For example, Vanderlande Industries BV, a Dutch firm specializing in automated material handling systems and services, unveiled PAX MX2, a novel passenger checkpoint solution for airports, in January 2023. This inventive technique allows passengers to deposit and collect their handbags from two separate lines before and after the screening operation, improving upon the efficiency of two conventional lanes with fewer staff and equipment. The PAX MX2's unique dual-lane system bolsters airport security checks, making them more efficient by accelerating screening procedures and optimising the use of the checkpoint space and screening tools.
Who Are the Key Players In The Transportation And Security System Market?
Major companies operating in the transportation and security system market are:
• Bosch GmbH
• Siemens AG
• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Cisco Systems Inc.
• Honeywell International Inc.
• Broadcom Inc.
• ABB Ltd.
• BAE Systems plc
• NEC Corporation
• Safran SA
• Thales Group
• Alstom SA
• L3Harris Technologies Inc.
• Leidos Holdings Inc.
• Assa Abloy AB
• Hangzhou Hikvision Digital Technology Co. Ltd.
• ADT Inc.
• Fortinet Inc.
• Saab AB
• Smiths Group plc
• NortonLifeLock Inc.
• QinetiQ Group plc
• Cubic Corporation
• OSI Systems Inc.
• FLIR Systems Inc.
• Kapsch TrafficCom AG
• Rapiscan Systems Inc.
• ORBCOMM Inc.
What Are The Regional Insights Into The Transportation And Security System Market?
Asia-Pacific was the largest region in the transportation and security system market in 2024. The regions covered in the transportation and security system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
