The explosive detectors market is expected to grow at a CAGR of 12.2% during the forecast period of 2024 to 2032, driven by increasing global security concerns, technological advancements in detection systems, and substantial government investments in security infrastructure. Despite the high costs and technical complexities, the market offers substantial growth opportunities, particularly in regions like Asia-Pacific, where rapid economic growth and rising security concerns are driving the adoption of advanced detection technologies.
The global market for automatic identification systems is predicted to increase at a CAGR of 6% between 2023 and 2030. In order to improve the safety and security of ships, the government has mandated AIS adoption. In 2000, the International Maritime Organization (IMO) mandated that all ships be equipped with an Automatic Identification System (AIS) capable of automatically communicating information to other ships and coastal authorities. The regulation mandates the installation of AIS on ships of 300 gross tons or more involved in international journeys, cargo ships of 500 gross tons or more engaged in non-international voyages, and passenger ships of any size. So, it is anticipated that stringent government regulation will fuel the growth of the automatic identification system market.
In 2032, the global market revenues for security and surveillance equipment are anticipated to reach $31.5 billion. Security and Surveillance Equipment demand has increased due to the expanding worldwide security concerns, theft prevention, and safety assurance. The elements of increasing safety and security concerns, deterring thieves and robbers, reducing crimes and thefts, obtaining evidence of some irregular acts, and maintaining its record are responsible for the expansion of Security and Surveillance Devices utilized in many end-use industries.
The developing critical infrastructure, which includes commercial sectors such as financial services, government offices, business zones, institutions, emergency services, information technology services, and transportation, requires a high level of security to prevent activities or accidents before they occur. Almost every one of these industries installs Security and Surveillance Devices, such as CCTV cameras and audio equipment, in order to record video or audio evidence of the incident that occurred at that location. Similarly, the majority of industries face the possibility of dangerous incidents such as fire outbreaks, workplace accidents, and equipment breakdowns. To prevent this from occurring, practically every business and factory owner installs security surveillance technology for industry safety and constant plant site monitoring. Government and residential buildings are the most likely targets for crimes such as theft, robbery, and assault in modern times. To effectively combat theft, violence, and vandalism, building owners are installing new-generation CCTV cameras that enable them to detect and analyze suspicious activity on their own. These Security and Surveillance Equipment systems are also compatible with other systems, including alarm systems. Many of these reasons are propelling the Security and Surveillance Equipment Market forward.
Companies in auto ID, security, and surveillance collaborate with Acute Market Reports because of the high quality of the market research and professional solutions we offer to our clients. The state-of-the-art solutions that Acute Market Reports provide to its clients are the result of a novel research and futuristic model that allows them to make educated business choices. Working with large corporations has allowed us to demonstrate the value we bring across our clients' entire product and service portfolio.
