LONDON --- Technavio analysts forecast theglobal mass transit security systems market to grow at a CAGR of over 9% during the forecast period, according to their latest report. In 2016, the global mass transit security systems market was in its growth stage. Increasing instances of violence and the rising awareness about mass transit security systems led to its market growth. It has become a necessity to enhance the quality and standard of the mass transit security systems because of the vulnerability of mass transit locations like railways, bus, and marine stations to crime-related incidents. The need for security in these premises is important because of the increased incidents of trespassing and the illegal export-import of arms and goods.
Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global mass transit security systems market:
• Growing need for public safety
• Investment in infrastructure development
• High-end technology adoption in railway safety
Growing need for public safety
The global public safety and security market is expected to reach USD 385 billion by 2020. As terror attacks are increasing worldwide, corrective methods are being taken especially in mass transit locations such as bus and railway stations, airports, and marine ports. Though mass transit security systems are helpful in monitoring and scanning people and their luggage, law enforcement agents are expected to take precautionary measures for the safety of people.
Investment in infrastructure development
Governments across the EU have invested in the development of their national infrastructure. The development of multilane highways and ultra-modern airports has ensured the rapid growth of access control installations and traffic surveillance systems. The growing number of airports increases the security threats, which drives the installation of security systems for proper and safe functioning.
High-end technology adoption in railway safety
Railways are experiencing a faster growth rate than airways and seaways. Therefore, it has become imperative to ramp up the security mechanisms through CCTV, train-to-track communication systems, and positive train control systems. CCTV helps in controlling train traffic schedules through various functions of cameras such as motion detection, automatic lens control, and backlight reduction.
Top vendors:
• Axis Communications
• Bosch Security Systems
• NICE Systems
• Panasonic
• Tyco
Browse Related Reports:
•Global Light Rail Market 2016-2020
•Global Smart Security Market 2016-2020
•Global Residential Security Systems Market 2016-2020
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