According to the latest report by IMARC Group, the global mass transit security market is expected to grow at a CAGR of around 10% during the forecast period (2021-2026).
Mass transit, also known as mass transportation, refers to the movement of a large group of people using public transportation facilities. To ensure the day-to-day safety and security of transit riders and their goods, various security measures are enforced at entry and exit locations, such as bus stops, railway stations, airports and marine ports. Moreover, technologies, such as ticket vending machines (TVMs) and closed-circuit televisions (CCTVs), are also employed to enhance security and provide a protected public transportation environment.
Transportation systems are vulnerable to security threats as a large number of passenger board public transport every day. This, in turn, is escalating the sales of mass transit security systems to ensure the safety of these passengers. In addition to this, owing to increasing terrorist activities on a global scale, governments of several countries are undertaking various measures to strengthen the security at transit locations. Such concerns have further led to technological advancements, such as e-passports that are embedded with smart chips to generate a unique code for the identification of the user. This is expected to strengthen the market growth in the coming years.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The competitive landscape of the industry has also been examined with some of the key players being Axis Communications AB, Bosch Security Systems, Inc., Cisco Systems, Inc., Fortem Technologies, Inc., Genetec Inc., Hikvision Digital Technology, IndigoVision Group PLC, NICE Systems Ltd., Panasonic Corporation, etc.
View Report TOC, Figures and Tables: https://bit.ly/3eVLjvC
The report has segmented the market on the basis on Region, Transit Type, Solution Type, Service Type and Application .
Segmentation by Transit Type:
Segmentation by Solution Type:
1. Surveillance System
2. Screening System
3. Biometric Security and Authentication System
4. C2/C4ISR System
5. Critical Communication System
Segmentation by Service Type:
1. Managed Services
2. Professional Services
Segmentation by Application:
3. Retail and Payment Industries
4. Logistics and Transportation Industries
Segmentation by Region:
1. North America
2. Asia Pacific
3. South Korea
4. United Kingdom
5. Latin America
6. Middle East and Africa
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