Threat Detection Systems Market worth 119.17 Billion USD by 2022

(IT-NEWSWIRE.COM, February 23, 2017 ) The market for video surveillance systems are likely to grow at the highest rate during the forecast period

Video surveillance systems are expected to lead the overall threat detection systems market during the forecast period and is expected to grow at the highest rate between 2016 and 2022. Increasing need for reconnaissance at commercial places, industry premises, and public avenues is one of the prime factors which is leading the demand for video surveillance systems. Video surveillance recordings are also used for the investigation purpose in many crime scenarios which is also driving the market for video surveillance systems.

Public infrastructure sector accounted for the largest share of the threat detection systems market in 2015

The threat detection systems market is led by the public infrastructure which is further segmented into airports, railway stations, sports stadiums, shopping malls, pilgrimages, and others. The high demand for threat detection devices from airports and shopping malls, especially for explosive detectors, video surveillance systems, and biometric systems, is one of the major factors driving the growth of the threat detection systems market for the public infrastructure application. The commercial sector is the second-largest market and the threat detection systems market for the commercial sector is estimated to grow at the highest rate between 2016 and 2022.

North America held the largest market share in 2015

North America held the largest share of the threat detection systems market in 2015, followed by APAC and Europe. The U.S. accounted for the largest share of the threat detection systems market in North America, followed by Canada and Mexico. The region has several companies operating as manufacturers and suppliers of components that are used in internal threat detection and border security management. North America is witnessing a continuous increase in the research & development activities, particularly in high-energy laser system technologies.

The major players operating in this market includes Smiths Group PLC (U.K.), Safran S.A. (France), FLIR Systems Inc. (U.S.), Thales S.A. (France), Rapiscan Systems Inc. (U.S.), RAE Systems Inc. (U.S.), Chemring Group plc (U.K.), ChemImage Sensor Systems (U.S.), Mirion Technologies Inc. (U.S.), and Axis Communication AB (Sweden), among others

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Threat Detection Systems Market worth 119.17 Billion USD by 2022