According to the latest report by IMARC Group, titled "Mass Transit Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global mass transit security market exhibited strong growth during 2015-2020. Mass transit security refers to the numerous safety solutions deployed at the entry and exit points of multiple public transportation modes. These security systems are employed to detect, monitor, and scan public locations to ensure the safety of passengers and their belongings. Video surveillance and analytics are essential components of these safety solutions as they are programmed to send alerts to the transit security force upon witnessing violations of rules and regulations. Some of the other forms of security tools employed at transportation hubs include voice recognition, biometric access controls and automated 3D and X-ray scanners.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Mass Transit Security Market Trends:
The global market is primarily driven by the increasing incidences of criminal and terrorist attacks in public spaces. This has impelled governments and law enforcement agencies to deploy high-quality and efficient public safety solutions at places with high traffic. Consequently, advanced and innovative safety systems are being employed at mass transit locations, including airports, bus stops, railway stations and subways, to avoid security breaches. Furthermore, governments of several countries are heavily investing in the renovation and development of existing transportation systems to offer enhanced convenience to the passengers. This, along with the growing adoption of new public service vehicles, due to population explosion and inflating disposable incomes of the masses, is creating a positive outlook for the market. The market is further driven by the integration of these security systems with advanced technologies, such as cargo inspection, biometrics and the global positioning system (GPS). Systems equipped with the Internet of Things (IoT) are also gaining prominence among end users. Some of the other factors contributing to the market growth include the rising adoption of perimeter intrusion detection systems (PIDS) and the increasing demand for chip-embedded passports. On account of the aforementioned factors, the market is projected to grow at a CAGR of around 10% during the forecast period (2021-2026).
- On the basis of the transit type, the market has been divided into airways, waterways, railways, and roadways.
- Based on the solution type, the market has been classified into surveillance, screening, biometric security and authentication, C2/C4ISR, critical communication, and other systems.
- On the basis of the service type, the market has been bifurcated into managed and professional services.
- Based on the application, the market has been segmented into homeland security, industrial, retail and payment industries, logistics and transportation industries, healthcare, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Axis Communications AB, Bosch Security Systems, Inc., Cisco Systems, Inc., Fortem Technologies, Inc., Genetec Inc., Hikvision Digital Technology, IndigoVision Group PLC, NICE Systems Ltd., and Panasonic Corporation.
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