Billion-Dollar Threat Detection Systems Market Analysis | North America to Dominate Market Growth through 2023-2027
The Threat Detection Systems Market is a billion-dollar sector in making with an estimated to exhibit growth of USD 94.14 Bn. It is estimated between 2022 and 2027, the market will exhibit growth at a CAGR of 12.75%. The increasing number of terrorist activities, growing demand for large-scale surveillance in public places, and tightening regulations for security devices are some foremost elements of market advancements.
When it comes to market segmentation, it can be done on the basis of application (defense, commercial, industrial, public infrastructure, and residential), type (hardware, software, and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
North America to Lead the Threat Detection Systems Market
North America to Lead the Threat Detection Systems Market:
North America is one of the most technologically advanced regions in the world due to the high adoption rate of advanced and emerging technologies and will be the highest contributor in the global market scenario with a growth of 37% during the forecast period, coupled with the growing focus on R&D activities, especially technologies such as high-energy laser systems, which will make threat detection systems more reliable and efficient, will further boost the demand.
The region also houses several manufacturers and component suppliers of threat detection systems. Leading Companies of threat detection systems in the region include RAE Systems, FLIR Systems, ChemImage Corp., and Vectra AI Inc. which will further boost the demand in the region.
Technavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment.
Core Companies of the Threat Detection Systems Market Analysis :
Companies are also using these technologies and launching new products to capture the market. There has been a rising number of strategic partnerships, and collaborations across geographies as growing terrorist activities and geopolitical issues are expected to increase the demand for threat detection systems, which will have a positive impact on the growth of the market during the forecast period.
Organizations like Vectra AI Inc. offer threat detection system solutions such as Vectra MDR service, and Vectra TDR platform. This segment focuses on the Cognito platform which is an intelligent, AI-driven threat detection and response for cloud, and SaaS services across various industries.
Some of the prominent names are Chemring Group Plc, Corptz, Fortra LLC, Group IB Service Ltd, Honeywell International Inc., LogRhythm Inc., Mirion Technologies Inc., OSI Systems Inc., PerimeterX Inc., Safran SA, Smiths Group Plc, Stellar Cyber, etc. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. Download our sample report
Threat Detection Systems Market: Key Highlights of the Report for 2023-2027