In a recent release, SECURITY TECHNOLOGIES FOR TRANSPORTATION MARKETS (IAS036A) from BCC Research, the global market for transportation security solutions totaled more than $2.3 billion in 2010. That value is projected to reach $5.9 billion in 2015 after increasing at a five-year compound annual growth rate (CAGR) of 20.4 percent.
In a recent release, SECURITY TECHNOLOGIES FOR TRANSPORTATION MARKETS (IAS036A) from BCC Research, the global market for transportation security solutions totaled more than $2.3 billion in 2010. That value is projected to reach $5.9 billion in 2015 after increasing at a five-year compound annual growth rate (CAGR) of 20.4 percent.
The global security transportation market can be broken down by technology into five segments – video surveillance, biometrics, access control technologies, CBRN (chemical, biological, radiological, nuclear) detection technologies, and perimeter intrusion detection technologies.
The video surveillance segment held a value of $1.1 billion in 2010, and is expected to increase at a CAGR of 11.6 percent to reach a value of $1.9 billion in 2015.
The segment made up of biometrics, worth $710 million in 2010, should be worth nearly $3 billion in 2015, increasing at CAGR of 33.2 percent. The segment consisting of access control technologies was valued at $336 million in 2010 and in 2015 it should be worth $626 million, a CAGR of 13.3 percent.
The segment made up of CBRN detection technologies totaled $159 million in 2010 and, after increasing at a CAGR of 17.5 percent, should amount to $356 million in 2015.
The segment made up of perimeter intrusion detection technologies was worth $37 million in 2010 and should be worth $55 million in 2015, increasing at a CAGR of 8.3 percent.
The global security market has seen progressive strides toward recovery after the recent economic crisis of 2008 to 2010. While most security projects and deployments are still facing cautious end-user investments, there is a definite upward growth trend in the overall industry. Several major factors are contributing to this. The market transition from analog to Internet protocol (IP) and digital technologies has significantly changed market dynamics. Software developments have added intelligence to security solutions. The emerging markets in the Asia-Pacific region are promising significant growth in the long term.
These and other changing market dynamics coupled with the increase in global convergence of security technologies has meant that manufacturers and vendors are required to collaborate and compete more fiercely for their market shares. Key opportunity areas need to be identified to keep pace with these changing dynamics. This report sheds light on such important trends that will enable its audience to make effective decisions. The report will be most useful to manufacturers, distributors, and vendors of security solutions. Others who will find the report informational and helpful include consultants, systems integrators of the security solutions' industry, regulatory bodies and governmental agencies, research-oriented agencies, and those in the financial analysis community.