Pune, India -- (SBWIRE) -- 03/11/2020 -- Increasing rate of tourist activities worldwide will play a crucial role in expanding the global passenger security market size in the coming decade. According to the UN's World Tourism Organization (WTO), a staggering 1.4 billion international tourist arrivals were recorded in 2018. Estimates released by the WTO also reveal that tourism contributed USD 1.7 trillion (2%) to the global economy in 2018. A major reason for this prolific rise in tourism is the emergence of budget airlines and development of hitherto unexplored regions as tourist hotspots.

For instance, North African countries saw a 10% rise in tourist arrivals, while Sub-Saharan Africa also experienced a steady growth in tourism. Moreover, research by the University College London shows that online booking and reviews of unconventional tourist destinations is further fueling tourist activities. Thus, this spike in tourism is likely to boost the demand for passenger security technologies at transit infrastructures such as airports and railway stations during the forecast period.

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Key Players Covered in the Passenger Security Market Report:

Smiths Detection Inc.
E.I.A. SPA
Axis Communication AB.
Advanced Perimeter System Ltd.
FLir Systems, Inc.
Bosch Sicherheitssysteme GmbH
Autoclear, LLC.
Adani Systems Inc.

Fortune Business Insights™, through its new report, titled "Passenger Security Market Size, Share & Industry Analysis, By End-User (Railway, Airport, Seaport), By Security Solution (Explosive Trace Detector, Access Control, Baggage Inspection System, Fire Safety and Detection System, Biometric System) and Regional Forecast, 2019-2026", shares the following information:

SWOT analysis of the market by meticulously studying the factors, drivers, and restraints influencing the market;

360-degree research of the regional and competitive dynamics characterizing the market;
In-depth evaluation of the different market segments; and
Accurate prediction of the future prospects and upcoming trends in the market.
Rising Threat of Terrorism to Boost the Uptake of Passenger Safety Measures

The biggest threat to tourism in the 21st century is posed by the proliferation of terrorist activities across the globe. Hijacking and crashing of planes, such as the infamous 9/11 attack in the US, are some of the most commonly practiced forms of terrorism in the past few decades. According to an article published in the newspaper, The Telegraph, occupancy in hotels in Paris halved in 2017 after the terrorist attack in the French capital in 2016. Furthermore, the Thai government reported a fall in tourist numbers by 200,000 in 2016 after the bombings in Phuket and Hua Hin, two of the most well-known tourist destinations in Thailand. As a result, governments around the world have rapidly spruced up their security measures by setting up Artificial Intelligence-based systems to ensure safety of travelers.

Asia-Pacific to Hold Lion's Share; Europe to Offer Largest Growth Prospects

Asia-Pacific is expected to lead the passenger security market share in the forecast period owing to the accelerated pace of air travel in the region and emergence of several tourist destinations in Southeast Asia. In addition to this, India and China are ramping up their investment in airport and railway infrastructure in response to the growing threat of terrorism and a prospering tourism industry.

Europe has been a tourist hub for a long time and EU member states are actively upgrading their security infrastructure to prevent terrorist activities. Increasing rate of air travel has prompted upgradation of airport security systems to attract more tourists and this will be one of the dominating passenger security market trends in the region in the foreseeable future.

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Discover regional market opportunities and trends
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Deliverable formats like PDF, PPT, cloud, etc
Benchmark against competitors & global industry
Explore competitive strategy & market share

Introduction of Innovative Products to Intensify Competition

Major companies in this market are increasing their investment in R&D to come up with novel solutions. Such innovations are making competition exciting as key players diversify their product offerings, the passenger security market analysis says.

Industry Developments:

April 2019: Axis Communication introduced its future-proof ARTPEC 7, its 7th generation chipset. The product features a broad range of capabilities such as high-resolution imaging and the capacity to run real-time analytics, providing effective tools to counter cybersecurity threats.

December 2018: Bosch GmbH announced the launch of its driverless electric shuttles with an efficiently interlinked ecosystem. The system will include sharing, booking, parking, charging, and software tools to effectively manage and maintain vehicles.

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