Asia Pacific Security Inspection Market

Market Introduction

The presence of developing economies and the rising adoption of innovative as well as advanced technologies contribute to the overall growth of the APAC region. Australia, China, Japan, India, South Korea are the major contributors to the growth of the security inspection market in APAC region. Rapid developments in technologies, digitalization of economies, and adequate support by the governments are among the major factors contributing to the smooth evolution of these economies from a developing to developed stage in terms of security inspection systems. Within the region, security is the major concern of the government across countries such as India, Australia, Malaysia, New Zealand, Myanmar, the Philippines and Sri Lanka. In the long-term scenario, while China is expected to continue to be the key driver for adoption of automated solutions in the region, the shifts in security preference from traditional systems to technologically advanced automated systems is the major factor that is influencing the growth of the security inspection market across the APAC region. Security inspection systems combining with modern AI is expected to create a significant demand for security inspection in the coming years, which is further anticipated to drive the APAC security inspection market.

COVID-19 pandemic, which emerged in China later, affected several other countries such as South Korea and India. The countries such as China, India, South Korea, and Japan  are  moving toward the deployment of the new security solutions. China and India are the biggest manufacturing hub in the region and have increasing focus toward industrialization. Due to lockdown, businesses remained closed for several periods and the manufacturing industry has been hampered due to lockdown, but soon recovered the growth by enhancing the production capabilities is second half of 2020. Although, China is the most important manufacturer and industrial producer across the world, a large number of COVID-19 cases in China have affected the economy of APAC. According to the Organization for Economic Co-operation and Development (OECD), other than China, the pandemic has also affected other major economies such as the large South Korea, India, Australia, and Japan. Countries such as China, Japan, South Korea, India, Hong Kong and Taiwan have experienced tremendous losses due to low production and a poor supply chain. Additionally, the labor shortage in these countries has negatively affected the manufacturing sector. Due to the high impact of COVID-19 in the manufacturing sector, the exports from the countries are highly impacted; thereby, keeping the impact of COVID-19 on APAC region is low to moderate.

Market Overview and Dynamics

The security inspection market in APAC is expected to grow from US$ 2,416.6 million in 2019 to US$ 4,388.8 million by 2027; it is estimated to grow at a CAGR of 8.2% from 2020 to 2027. Owing to rising trade through roadways and surge in intercity travel among the population the governments of various countries are implementing security measures across borders to avoid illegal entry of people or materials. The adoption of vehicle inspection system enables the border security team to check all vehicles crossing borders without involving manpower. This reduces the risk of omission due to human eyes or any other unauthorized proceedings between border officials. These factors are promoting the adoption of vehicle inspection systems across border checkpoints; thereby, contributing to the market growth.

Key Market Segments

In terms of product type, the personnel screening systems segment accounted for the largest share of the APAC security inspection market in 2019. In terms of application, the commercial security segment held a larger market share of the APAC security inspection market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the security inspection market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ADANI; Analogic Corporation; Leidos; Nuctech Company Limited; OSI Systems, Inc.; Smiths Group plc.

Reasons to buy report

• To understand the APAC security inspection market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC security inspection market
• Efficiently plan M&A and partnership deals in APAC security inspection market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC security inspection market
• Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.

APAC Security Inspection Market Segmentation

APAC Security Inspection Market - By Product Type

• Personnel Screening Systems
• Cargo and Baggage Inspection Systems
• Vehicle Inspection Systems
• Others

APAC Security Inspection Market - By Enterprise Size

• Aviation
• Border Security
• Critical Infrastructure Protection
• Commercial Security
• Others

APAC Security Inspection Market - By Country

• China
• Japan
• South Korea
• India
• Australia
• Rest of APAC

APAC Security Inspection Market - Company Profiles

• ADANI
• Analog Corporation
• Leidos
• Nuctech Company Limited
• OSI Systems, Inc.
• Smiths Group plc   

Asia Pacific Security Inspection Market Strategic Insights

Asia Pacific Security Inspection Market Segmentation Analysis

Asia Pacific Security Inspection Market Report Highlights

Asia Pacific Security Inspection Report Scope

Asia Pacific Security Inspection Market Country and Regional Insights