Market Trends of Security Assessment Industry
Applications at Airports will Increase to a large extent
- The global aviation industry is expected to increase significantly in the coming future. According to IATA, commercial airlines generated only 227 billion U.S. dollars in passenger revenue in the previous year. Still, in the present year, commercial airlines have already generated 378 billion U.S. dollars in passenger revenue and are further expected to increase.
- Additionally, airports are rapidly implementing cutting-edge security screening techniques because of the enormous increase in passengers and commercial air traffic. Governments worldwide are investing a heft sum of money in the enlargement of these airports. According to the previous year's research by IATA, governments all across the globe have already allocated over 243 billion U.S. dollars to airlines due to the COVID-19 pandemic.
- Self-screening technologies are anticipated to gain significant demand from airport authorities in the upcoming years. Passengers can run their personal belongings through an X-ray machine due to the automated scanners as they simultaneously pass through a different body scanner.
- Vendors are rapidly creating solutions for automating airport screening, which is anticipated to expand the percentage of investments in the upcoming years dramatically. For instance, to improve the customer experience, London Southend Airport is testing a new cabin baggage screening system. To further minimize interaction points throughout the terminal journey, Smiths Detection's HI-SCAN 6040 CTiX, a cutting-edge computed tomography (CT) cabin baggage screening device, is being tested with the iLane.evo automated tray handling system.
- The Asia Pacific spent the most on current airport building in the previous year, with over 227 billion dollars invested. When combined, the value of these initiatives in North America and Europe was comparable to the amount spent in the Asia Pacific.
- Security assessments are routine exercises that assess your organization's security readiness. They include scanning for vulnerabilities in your IT systems and business processes and recommending steps to reduce the risk of future attacks. Security audits are also helpful in keeping your systems and policies up to date.
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North America is Expected to Hold a Significant Market Share
- The North American continent is anticipated to account for a significant market share. The main reason for this is the market's strong presence of large security assessment service providers, who supply a variety of services to several firms across numerous end-user industries. In other words, North America is home to some of the major players in the market, such as IBM Corporation, FireEye, Rapid7 Inc., and Qualys Inc., among others.
- The significant rise in data breaches across various industries encourages businesses to use thorough evaluation services. For instance, the White House Council of Economic Advisers estimates that risky cyber operations cause the United States economy to suffer losses of between USD 57 billion to USD 109 billion annually.
- Additionally, cyberattacks in North America, particularly in the United States, are on the rise and have hit an all-time high, primarily due to the region's fast-rising number of connected devices. For the convenience of banking, shopping, communication, and other activities, American customers use public clouds, and many mobile applications come preloaded with their data.
- The regulations imposed by the regional government authorities are also accelerating the adoption of cyber security solutions. The United States released an executive order to improve cybersecurity the previous year. Some top priorities highlighted in the order include the prevention, detection, assessment, and remediation of cyber incidents.
- The US government signed the law to establish the Cybersecurity and Infrastructure Security Agency (CISA), to enhance national defense against cyberattacks. It works with the Federal Government to provide cybersecurity tools, incident response services, and assessment capabilities to safeguard the government networks that support essential operations of the partner departments and agencies.
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