Market Size of Mass Transit Security Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mass Transit Security Market Analysis
The mass transit security market is anticipated to register a CAGR of over 8.7% over the forecast period (2021 - 2026). Transportation is critical infrastructure, disruption or destruction of its systems or assets can have a negative and disastrous effect on the public health and safety and the economic status of a country.
- The growing concerns regarding terror attacks and crimes have increased the requirement for infrastructural development in the mass transit security market. Technologies, such as video surveillance and voice recognition, are being used across a number of transportation hubs for the purpose of surveillance and identification.
- Over the years, there has also been the introduction of various scanners, which detect specific compounds and solutions, for instance, the Department of Homeland Security (DHS) has been exploring the expansion of passenger and luggage screening at various railway networks globally.
- Airports account for a significant share of demand for mass transit solutions and are expected to continue its dominance over the forecast period, owing to the robust rise in the number of airports and consequent air passenger traffic. Increased air passenger traffic might lead to a rise in threats to passengers because of the higher chances of unacceptable practices and passenger threats.
