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X-Ray Security Screening Market to Reach $8.3 Billion, Globally, by 2032 at 9.4% CAGR: Allied Market Research

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The global x-ray security screening market is driven by factors including a surge in security threats, a rise in air travel and international trade, and ongoing airport upgrades and expansions.

PORTLAND, Ore., Aug. 4, 2023 /PRNewswire/ — Allied Market Research published a report titled,X-Ray Security Screening Market, by Application (People Screening and Product Screening), End Use (Transit, Commercial, and Government): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global x-ray security screening industry generated $3.4 billion in 2022 and is projected to reach $8.3 billion by 2032, registering a CAGR of 9.4% from 2023 to 2032.

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The X-ray security screening industry has advanced rapidly, and the adoption of new technologies has improved its usability, speed, and safety. Beyond industrial applications, the use of X-ray security screening systems has expanded because of the factors mentioned. The effectiveness of X-ray security systems has been greatly improved by technological developments in hardware, such as tubes, detectors, and sources, as well as advancements in software. Nowadays, there are opportunities for the industry’s growth in upgrading existing security screening installations.

Prime Determinants of Growth: 

The global x-ray security screening market is driven by factors including a surge in security threats, a rise in air travel and international trade, and ongoing airport upgrades and expansions. However, health and safety concerns pose a restraint on the growth of the X-ray security screening market during the forecast period. Moreover, technological advancements and the availability of diverse solutions have driven the growth of airport-related security solutions and upgrades, which will create lucrative opportunities in the upcoming future.

Report Coverage & Details: 

Report Coverage 

Details 

Forecast Period 

2022–2032 

Base Year 

2022

Market Size in 2022 

$3.4 Billion 

Market Size in 2032

$8.3 Billion 

CAGR 

9.4 %

No. of Pages in Report 

285

Segments covered 

Application, End Use, and Region

Drivers  

Rise in security threats   

Growing air travel and international trade  

Opportunities 

Technological advancements

The availability of diverse solutions has driven the growth of airport-related security solutions and upgrades

Restraints 

Health and safety concern   

 

COVID-19 Scenario:

  • The global X-ray security screening market experienced a significant impact from the COVID-19 pandemic. The demand for security screening systems at airports and transportation hubs decreased with travel restrictions and border closures. In addition, delayed infrastructure projects and budget constraints further affected market growth.
  • However, the pandemic highlighted the importance of safety and security and generated a growing interest in advanced screening technologies. In response, X-ray security screening vendors introduced touchless and contactless solutions to address health concerns. As restrictions eased, airports and malls implemented non-contact methods like X-ray screening and automated checkpoints. Thus, this increases the X-ray security screening industry’s growth.

The People Screening Segment to maintain its Leadership Status during the forecast period

Based on application, the people screening segment held the major share in 2022, accounting for more than three-fifths of the global x-ray security screening market revenue, and it is expected to maintain its leadership status during the forecast period. The continuous demand for enhanced security measures in high-risk locations, such as airports and government buildings, drives the sustained growth of people screening applications. On the other hand, the product screening segment would display the highest CAGR of 10.4% from 2023 to 2032. Factors contributing to its dominance include the increasing need for stringent security measures in response to rising security threats and the growing importance of securing supply chains and critical infrastructure in various industries, such as logistics and manufacturing.  

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The Transit Segment is Projected to Rule the Roost by 2032

Based on end use, the transit segment held the largest share in 2022, contributing to nearly two-fifths of the global x-ray security screening market revenue, and is projected to rule the roost by 2032. The same segment would also showcase the fastest CAGR of 10.05% from 2023 to 2032. The remarkable growth of the transit segment can be attributed to several factors. Its continued dominance is fueled by increasing global passenger numbers and growing security concerns. The introduction of innovative screening technologies, such as walk-through body scanners and baggage screening systems, contributes to its remarkable growth.  

North America to Maintain its Dominance Throughout the Forecast Period

Based on region, North America held the highest market share in 2022, garnering nearly two-fifths of the global x-ray security screening market revenue, and is expected to maintain its dominance throughout the forecast period. The growth is attributed to advanced screening technologies, investments in security infrastructure, and the presence of major airports. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.56% from 2023 to 2032. This is due to rapid urbanization, population growth, and increased critical infrastructure, which drive the demand for X-ray security screening solutions. Additionally, significant economic development, international trade activities, and government investments in advanced security scanners further fuel market growth in the region.

Leading Market Players: 

  • Rapiscan Systems Inc.
  • Analogic Corporation
  • 3DX-Ray Ltd.
  • L-3 Communications Security & Detection Systems
  • Smiths Detection, Inc.
  • Westminster International Ltd.
  • Thales
  • Astrophysics Inc.
  • Burker
  • OSI Systems, Inc.

The report provides a detailed analysis of these key players in the global x-ray security screening market. These players have adopted different strategies, such as product launches, collaborations, and contracts, to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Want to Access the Statistical Data and Graphs, Key Players Strategies: https://www.alliedmarketresearch.com/x-ray-security-screening-market/purchase-options

Key Benefits For Stakeholders:

·  This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the x-ray security screening market analysis and x-ray security screening market outlook from 2021 to 2031 to identify the prevailing market opportunity.

  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global x-ray security screening market trends, key players, market segments, application areas, and market growth strategies.

X-Ray Security Screening Market Key Segments:

By Application

  • People Screening
  • Product Screening

By End-Use

  • Transit
  • Commercial
  • Government

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (UK, Germany, France, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

Buy this Research Report @ https://bit.ly/3s4R3fm

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
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#205, Portland, OR 97220
United States
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Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/semiconductor-and-electronics

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Blockchain Press Releases

Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options

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VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.

What is GPTV?

GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.

Staking Opportunities with Attractive Yields

Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.

Bitrue’s Focus on Community Engagement

The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.

With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.

About Bitrue

Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/bitrue-expands-bitcoin-runes-offerings-with-gptv-listing-and-staking-options-302135402.html

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Blockchain

ZettaBlock announces the addition of blockchain data

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ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.

By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.

ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.

Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.

The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.

Source: cryptonewsz.com

The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.

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Blockchain

Hong Kong joins global crypto ETF race

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Hong Kong has entered the cryptocurrency ETF market with the debut of its first spot cryptocurrency exchange-traded funds (ETFs) on Tuesday, signaling the city’s ambition to compete with the US in the rapidly growing sector.

The launch, led by the Hong Kong units of three mainland Chinese asset managers — Bosera Asset Management, Harvest Global Investments, and China Asset Management — saw the introduction of two ETFs each tracking bitcoin and ether prices. Bosera’s funds were launched in collaboration with HashKey Capital.

On their debut, the three bitcoin ETFs closed between 1.5% and 1.8% higher, while the ether ETFs experienced slight losses of between 0.5% and 0.8%. Despite this, total trading turnover for all six ETFs, which included trading in US dollars, Hong Kong dollars, and renminbi, reached approximately HK$99.5 million (US$12.7 million). In comparison, US-based funds saw turnover exceeding $4 billion on their first trading day.

The move marks Hong Kong’s commitment to becoming a significant player in the cryptocurrency space, following its announcement in 2022 amid pandemic restrictions and increased Chinese oversight. Joseph Chan, Hong Kong’s under-secretary for financial services and the treasury, emphasized the city’s leading position in Asia’s crypto asset development during the ETF listing ceremony.

Prior to this, CSOP Asset Management had launched Hong Kong’s first bitcoin and ether futures ETFs in late 2022, following the publication of rules for spot ETFs by the Securities and Futures Commission in December.

In January, the US Securities and Exchange Commission approved the country’s first spot bitcoin ETFs, which have since attracted significant assets under management and net inflows. Robert Zhan, director of risk consulting at KPMG China, remains optimistic about the potential of the Hong Kong funds, despite current market sentiments and relatively flat prices of bitcoin and ether leading up to the launch.

The launch of crypto-linked funds by major Chinese asset managers has generated excitement within the industry, despite China’s strict cryptocurrency regulations. Donald Day, COO of Hong Kong-based digital asset exchange VDX, believes the new funds will cater to active investors unable or unwilling to trade during US hours.

Source: ft.com

The post Hong Kong joins global crypto ETF race appeared first on HIPTHER Alerts.

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