South America Terahertz Body Scanning Market
Published On: Sep 2020
Published On: Sep 2020
Fixed Scanner Segment to Dominate South America Terahertz Body Scanning Market during 2019–2027
According to a new market research study on “South America Terahertz Body Scanning Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Technology Type, Scanner Type, and Application,” is expected to reach US$ 4.92 million by 2027 from US$ 1.22 million in 2019. The market is estimated to grow at a CAGR of 19.5% from 2020 to 2027. The report provides trends prevailing in the South America terahertz body scanning market along with the drivers and restraints pertaining to the market growth. Mounting implementation of terahertz body scanning at public places, airport checkpoints, train stations, and subways followed by the need for robust security management are the major factor driving the growth of the South America terahertz body scanning market. However, concerns over privacy & health, and inadequate technical expertise hinder the growth of South America terahertz body scanning market.
The outbreak of COVID-19 has affected the economic stability in South America, so far Brazil is the worst country hit by the virus followed by Ecuador, Peru, Chile, and Argentina. The presence of various developing nations makes South America as one of the major market for the growth of terahertz body scanning market over the forecast period of 2020 to 2027. However, the sharp decline in manufacturing activities in this region due to COVID-19 lockdown measures is expected to directly impact the growth of terahertz body scanning market in the coming quarters. In addition to this, the supply chain disruptions and non-availability of raw materials will also aggravate the problems of various industries operating in this region. In order to contain the spread of COVID-19 the governments across South America are imposing various actions such as travel bans, factories and business shutdowns, and lockdowns which will ultimately affect the projected revenue generation and growth opportunities in South America. Thus, the decline in business operations and product development activities is expected to directly affect the growth rate of terahertz body scanning market in this region for the next three to four quarters.
The South America terahertz body scanning market is segmented into technology type, scanner type, application, and country. Based on technology type, the market is segmented into standalone and integrated. In 2019, the standalone segment held the largest share South America terahertz body scanning market. Based on scanner type the South America terahertz body scanning market is divided into fixed and portable. Fixed segment is expected to the fastest growing segment over the forecast period. Similarly, based on application, the market is bifurcated into public places, airports and customs checkpoints, trains stations and subways, and others. The airports and customs checkpoints segment contributed a substantial share in 2019.
Terasense Group Inc., Shanghai Eastimage Equipment Co., Ltd., Nuctech Company Limited, and Rohde & Schwarz GmbH & Co. KG are among the leading companies in the South America terahertz body scanning market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, The R&S QPS201 people screening system from Rohde & Schwarz certified by TSA as meeting detection requirements for aviation security checkpoint passenger screening.
The report segments the South America Terahertz Body Scanning Market as follows:
South America Terahertz Body Scanning Market – By Technology Type
South America Terahertz Body Scanning Market – By Scanner Type
South America Terahertz Body Scanning Market – By Application
South America Terahertz Body Scanning Market – By Country
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