Transportation safety and security markets worth US$62.96 billion by 2018

The latest report from MarketsandMarkets forecasts the global transportation safety and transportation security market to grow from US$37.80 billion in 2013 to US$62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7 per cent from 2013 to 2018. North America (NA) is expected to be the biggest contributor in terms of revenue contribution, while the growing markets Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction
December 2, 2013 Read time: 2 mins
The latest report from 6418 MarketsAndMarkets forecasts the global transportation safety and transportation security market to grow from US$37.80 billion in 2013 to US$62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7 per cent from 2013 to 2018.

North America (NA) is expected to be the biggest contributor in terms of revenue contribution, while the growing markets Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction with high CAGRs, during the forecast period.

The major driving forces which are enabling the growth of this market is constant need of public safety, massive infrastructural development, higher return on investment (ROI) from enhanced security, and business continuity. The significant rise in this market is due to development of critical transportation infrastructural facilities, new transportation-related projects across the globe. The increasing threats, catastrophic accidents, and natural and unnatural disasters have also been the influencing factors for the growth of this market.

Some of the solutions which are gaining traction and investment from various vendors are integration software, security/software-as-a-service (SaaS), integration of command and control systems with communication systems, and advanced imaging technology.

MarketsAndMarkets has segmented this market by modes of transportation (airways, seaways, railways, and roadways); regions; and services. All the modes of transport are further segmented on the basis of infrastructure and mode safety and security.

Infrastructure safety and security systems includes, passenger screening and scanning system, cargo inspection system, secure communication system, intrusion detection and perimeter protection system, fire detection and protection system, video surveillance and access control. Mode security solutions comprise of traffic control systems, tracking and navigation systems, and mode safety and security systems.
Detection, Monitoring & Machine Vision

For more information on companies in this article

Related Content

  • Solid growth for IRD
    April 14, 2015
    International Road Dynamics showed solid growth for the three months ended 28 February, with revenue up 3.6 per cent in key geographic markets and product segments. The company’s gross margin continues to strengthen, up 11.6 per cent from last year's first quarter, rising to 30.6 per cent of revenues from 28.4 per cent last year. It reports a stable financial position with working capital rising to US$7.7 million and forecasts continued growth through the balance of fiscal 2015. "Following solid growth
    Read More
  • Investment boost for Canada’s weather warning systems
    August 5, 2013
    David Crawford reviews national and regional initiatives to boost Canada’s weather forecasting. Over the next five years Canada’s national weather services are due to benefit from a CAN$248 million injection of funding into the Environment Canada (EC) department to deliver timelier and more accurate weather warnings and forecasts for users including travellers and transport operators. The scheme, set out in the country’s 2013 Economic Action Plan, is to revitalise the services with new investments in federa
    Read More
  • EVs on a roll
    October 8, 2014
    A recently updated report by IDTechEx, Electric Vehicle Forecasts, Trends and Opportunities 2015-2025, indicates that the global market forecast for all hybrid and pure electric vehicles is expected to exceed US$533 billion in 2025. Sales of the BMW i3 and Tesla Model S pure electric cars are rising rapidly, with Tesla holding back demand because it cannot produce enough for at least a year. Those are premium priced vehicles. The major problem with mainstream pure electric cars is price. However, App
    Read More
  • Companies depend on automation, AI and machine learning for cyber security
    February 23, 2018
    To defend against cyber attacks, 39% of organisations are reliant on automation, 34% on machine learning and 32% on artificial intelligence (AI), according to the Cisco 2018 annual report conducted on 3,600 chief information security officers. It found that over half of all attacks resulted in financial damages of more than $500,000 (£697,000), including, but not limited to, lost revenue, clients, opportunities, and out-of-pocket costs. The study revealed that adversaries are using Malware sophistication
    Read More

Highlighted Content