Overview and Scope
Mass transit security refers to the measures and practices implemented to protect public transportation systems, such as buses, trains, subways, and ferries, as well as the passengers and employees who use and operate them. These measures include the enforcement of various rules and regulations, human and video surveillance, the deployment of a transit police force, and other techniques.
Sizing and Forecast
The mass transit security market size has grown strongly in recent years. It will grow from $39.76 billion in 2023 to $42.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to public transportation systems, demand for innovative security solutions, increased investments in advanced surveillance, increased access control systems, increased biometrics, security breaches.
The mass transit security market size is expected to see strong growth in the next few years. It will grow to $55.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing public incidents, deployment of biometric identification systems, terrorism threats, public awareness and cooperation, geopolitical tensions. Major trends in the forecast period include AI-driven threat detection, enhanced biometric identification, internet of things (IoT) security, mobile security solutions, drone detection and mitigation.
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Segmentation & Regional Insights
The mass transit security market covered in this report is segmented –
1) By Type: Airways Transit Security, Seaways Transit Security, Roadways Transit Security, Railways Transit Security, Other Types2) By Service Type: Managed Services, Professional Services3) By Solution: Surveillance and Monitoring, Screening System, Biometric Security And Authentication System, Fire Safety and Detection System, Perimeter Intrusion Detection, Access Control, Other Solutions4) By Application: Homeland Security, Industrial, Retail and Payment Industries, Logistics and Transportation Industries, Healthcare, Other Applications
North America was the largest region in the mass transit security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mass transit security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing threats and security concerns are expected to propel the growth of the mass transit security market going forward. Security threats and concerns refer to any potential danger or harmful event that can exploit a vulnerability and cause harm to any personnel. Public transit environments may be susceptible to criminal activities, including theft, assaults, and vandalism. Mass transit security plays a crucial role in addressing threats and security concerns by implementing measures to protect passengers, infrastructure, and operations from various risks. For instance, in June 2023, according to International Air Transport Association, a Canada-based trade association, in 2022, there was one unruly incident reported for every 568 flights, up from one per 835 flights in 2021. The most common incidents were non-compliance, verbal abuse, and intoxication. Although physical abuse incidents are rare, they increased by 61% over 2021, occurring once every 17,200 flights. Therefore, increasing threats and security concerns are driving the mass transit security market.
Key Industry Players
Major companies operating in the mass transit security market are Siemens AG, Panasonic Corporation, Cisco Systems Inc., Hanwha Group, Honeywell International Inc, Johnson Controls International PLC, Thales Group, Tyco International PLC, L3Harris Technologies Inc, Analog Devices Inc., Hikvision Digital Technology Co. Ltd, Bosch Security Systems Inc., NICE Systems Ltd., Axis Communications AB, OSI Systems Inc, Kratos Defense & Security Solutions Inc. (KTOS), Flir Systems Inc., Smiths Detection Inc, Avigilon Corporation, Nuctech Company Limited, Rapiscan Systems Inc, Genetec Inc., Analogic Corporation, Teleste, SDI Presence LLC, March Networks Corporation, IndigoVision Group PLC, High Rise Security Systems LLC, AngelTrax, Fortem Technologies Inc.
The mass transit security market report table of contents includes:
1. Executive Summary2. Mass Transit Security Market Characteristics3. Mass Transit Security Market Trends And Strategies4. Mass Transit Security Market - Macro Economic Scenario5. Global Mass Transit Security Market Size and Growth...32. Global Mass Transit Security Market Competitive Benchmarking33. Global Mass Transit Security Market Competitive Dashboard34. Key Mergers And Acquisitions In The Mass Transit Security Market35. Mass Transit Security Market Future Outlook and Potential Analysis36. Appendix
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