The study involved four major activities in estimating the size of the security screening market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
Various secondary sources were used to identify and collect relevant information. These include corporate filings such as annual reports, press releases, investor presentations, and financial statements; trade, business, and professional associations; white papers, journals, and articles from recognized authors; certified publications related to security screening; directories; and databases.
Secondary research was conducted to obtain key information about the supply chain of the industry, the monetary chain of the market, the total pool of key players, the segmentation of the market according to industry trends to the bottommost level, geographic markets, and key developments from the market-oriented perspective. Secondary data was collected and analyzed to arrive at the overall market size, which was further validated through primary research.
Primary Research
In the primary research process, various primary sources, from both supply and demand sides, were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included experts such as chief executive officers (CEOs), vice presidents, marketing directors, technology and innovation directors, SMEs, consultants, and related key executives from the major companies and organizations operating in the security screening market.
After the complete market engineering process (which includes market statistics calculations, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical market numbers.
Several primary interviews were conducted with experts from both the demand and supply sides across four major regions—North America, Europe, Asia Pacific, and RoW. Approximately 25% of the primary interviews were conducted with demand respondents and 75% with supply respondents. This primary data was collected through questionnaires, emails, and telephonic interviews.
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the security screening market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
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Identifying the number of players in the security screening market offering products such as X-ray scanners, electromagnetic metal detectors, biometric systems, spectrometry and spectroscopy, and others
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Identifying the annual shipment of X-ray systems, biometric systems, electromagnetic metal detectors, spectrometry and spectroscopy solutions, and other security screening products
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Identifying the average price of the abovementioned products for different companies
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Identifying various current end uses of security screening solutions
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Analyzing each end use segment and application, along with the related major companies in the market
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Understanding the demand generated by different end use for various applications
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Tracking the ongoing and upcoming installation of security screening systems across end use segments, and forecasting the market based on these developments and other parameters
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Conducting multiple discussions with primary respondents to understand the types of OEMs, resellers, manufacturers, and assembling units developed for end use segments; the discussions help analyze the breakdown of the scope of work carried out by each major company in the market
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Arriving at the market estimates through country-wise analysis of security screening companies; thereafter, combining country-wise data to arrive at the market estimates by region
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Verifying and cross-checking the estimates at every level via discussions with key opinion leaders, including CXOs, directors, and operation managers, and, finally, with the domain experts at MarketsandMarkets
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Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases, for this process
Market Size Estimation Methodology-Bottom-Up Approach
Market Size Estimation Methodology-Top-Down Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the total market has been split into several segments and subsegments. Where applicable, data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from the demand and supply sides.
Market Definition
Security screening involves scanning individuals, luggage, cargo, and vehicles using X-ray imaging systems, electromagnetic detectors, biometric systems, and spectrometers to ensure security at airports, government offices, prisons, border checkpoints, educational institutes, and several other establishments. Security screening safeguards individuals, assets, and infrastructure from illicit activities, such as smuggling of weapons, explosives, drugs, and other prohibited items, as well as the infiltration of unauthorized personnel into secure locations.
Stakeholders
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Suppliers of raw materials and manufacturing equipment
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Vendors of semiconductor wafers
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Original equipment manufacturers (OEMs)
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Original design manufacturers (ODM) and OEM solutions providers
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Government and financial institutions
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Distributors and retailers
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Research organizations
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Technology standards organizations, forums, alliances, and associations
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Technology investors
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End users (airport authorities, railway station authorities, private and government offices, educational institutions, and sports stadiums)
Research Objectives
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To define and forecast the security screening market based on technology, end use, application, and region in terms of value and volume
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To forecast the market size, in terms of value, for various segments with respect to four main regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW)
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
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To analyze the opportunities in the market for stakeholders and provide the competitive landscape of the market
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To strategically profile key players and comprehensively analyze their market ranking and core competencies2
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To provide detailed information regarding the drivers, restraints, opportunities, and challenges, value chain, ecosystem, patents, case studies, trade, regulatory landscape, investment, and funding data influencing the market growth
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To analyze the growth strategies such as partnerships, collaborations, product launches, acquisitions, expansions, and contracts adopted by the major market players
Available Customizations:
MarketsandMarkets offers the following customizations for this market report:
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Further breakdown of the market in different regions to the country-level
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Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Security Screening Market