Overview and Scope
Transportation and security systems refer to integrated solutions and technologies designed to enhance the safety, efficiency, and security of various modes of transportation. These systems aim to address challenges related to the movement of people and goods while minimizing risks and ensuring the protection of assets.
Sizing and Forecast
The transportation and security system market size has grown rapidly in recent years. It will grow from $16.56 billion in 2023 to $18.40 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increasing efficiency reducing traffic congestion and improving user experience through smart transport systems to grow the market, growing urbanization, population growth, cybersecurity concerns, smart cities initiatives.
The transportation and security system market size is expected to see strong growth in the next few years. It will grow to $26.70 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rapid urbanization is set to boost sales in the cold storage industry, rising demand for smart transportation, government regulations, environmental sustainability, traffic congestion. Major trends in the forecast period include technology advancements in video surveillance and screening, technological advancements, advancements in surveillance technologies, integration of ai and machine learning, cybersecurity solutions.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the transportation and security system market in 2023. 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.
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Major Driver Impacting Market Growth
Rising demand for smart transportation is expected to propel the growth of the transportation and security system market going forward. Smart transportation refers to the integration of modern technologies and management strategies into transportation systems to enhance efficiency, safety, and convenience. Transportation and security systems strive for smart transportation initiatives by providing the infrastructure, technologies, and services needed to create efficient, safe, and sustainable transportation networks. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, rising demand for smart transportation is driving the growth of the transportation and security system market.
Key Industry Players
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.
The transportation and security system market report table of contents includes:
1. Executive Summary
2. Transportation And Security System Market Characteristics
3. Transportation And Security System Market Trends And Strategies
4. Transportation And Security System Market – Macro Economic Scenario
5. Global Transportation And Security System Market Size and Growth
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32. Global Transportation And Security System Market Competitive Benchmarking
33. Global Transportation And Security System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Transportation And Security System Market
35. Transportation And Security System Market Future Outlook and Potential Analysis
36. Appendix
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