Global Vehicle Scanner Market is Predicted to Value Over US$ 2.5 Billion by the End of 2026

  • 15 May 2019

The global vehicle scanner market is predicted to value over US$ 2.5 billion by the end of 2026 and record a CAGR of 5.14% during the forecast period of 2019 to 2026. 

Increasing border security threats and militant activities have always been a global concern. Thus making it imperative for government bodies as well as private and public establishments to employ up to date security scanning and monitoring systems. Hype in air and seaways cargo transportation across countries with ease of foreign trade also needs appropriate security checks. Rapid developments of roadways and increasing number toll stations to scan vehicles for security and collection of toll charges require vehicle scanners.
The present scanning systems are to witness the technological disruptions and expected to adopt automation with the advent of IoT and an increased amount of data storage requirements. Also, it is estimated that electronic toll collection systems would be rapidly employed in several countries and would require round the clock IoT enabled vehicle scanners.

Global Vehicle Scanner Market Restraints
•  The high cost of scanning setups and maintenance due to the regular upgrade of high-resolution screens and operating software
•  Moderately fragmented market due to the presence of multiple market players
•  Slow growth due to the limited sale of the scanning systems

By Scanner
+ Portable/Mobile Scanner 
+ Fixed/Static Scanner 
Cutting-edge features, low installation cost, high efficiency and ease of handling are factors promoting wide adoption of portable scanners. Further, the adoption of IoT and Artificial Intelligence is estimated to augment the growth of the portable vehicle scanner sub-segment during future years. The threats posed towards huge commercial setups hotels, chemical and nuclear plants are promoting utilization of portable scanners at critical entry and exit points.

By Structure 
+ Drive-Through 
Increased e-commerce and friendly foreign trade policies are promoting the growth of air and sea cargo services. This, in turn, is supporting the implementation of drive-through vehicle scanners at seaports, airports, cross-border security check posts and toll stations. The X-ray technology employed in the drive through scanners is capable of detecting drugs, grenades and bombs. Thus drive-through vehicle scanners are projected to lead the market in terms of implementation, registering a considerable CAGR during the next 5 years or so.

By Application 
+ Private/Commercial Facilities 
  > Commercial Parking Facilities
  > Stadiums and Other Public Venues

+ Government/Critical Infrastructure Protection
 > Government Buildings, Palaces, Presidential Complexes 
 > Military, Defense Facilities, and Borders
 > Entrances of Energy Plants 
Securing geographical borders, curbing illegal migrants’ entry and combating terrorism remains a major global driving factor for the growth of critical infrastructure protection sub-segment. Rising budgets for military security are further extending the progression of government/critical infrastructure protection sub-segment with a promising CAGR in the near future.

By Technology
+ Scanning
+ Sensing
+ Imaging
+ Illuminating
+ Processing

By Component
+ Camera
+ Barrier
+ Vehicle Scanning Software 
+ Lighting Unit 
+ Others

By Region:
+ Europe 
+ North America 
+ Latin America
+ Rest of World
The safety and security concerns along with the increasing requirement of monitoring illegal activities on wider geographical areas of North America is driving the growth of global vehicle scanner market. All the government, defence, and commercial properties rely on full body vehicle scanning to ensure safety and combat terrorism vulnerabilities. Also, it is a base for major vehicle scanner manufacturers positioning it as a market leader in terms of revenue and estimated to grow at remarkably incremental CAGR in the coming years.

Competitive Landscape: 
+ Tier 1 players- established companies in the market with a major market share 
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants  

Future Wise Takeaways 
+ Growth prospects 
+ SWOT analysis
+ Key trends
+ Key data points affecting market growth 

Objectives of the Study:
+ To provide an exhaustive analysis on the global vehicle scanner market by scanner, structure, application, technology, component, and region
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market 
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies 


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