Automated Border Control Market Projected to Exhibit a High Single-Digit CAGR through 2018-2026
Posted: May 28, 2018
Automated border control systems are essential to ensure safety of a country and avoid border laws prohibition. The system is gaining popularity with the increasing safety concerns and risks globally. A new research report by Persistence Market Research (PMR) highlights the global automated border control market in its new research report titled ‘Automated Border Control Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026’. According to the market forecast by PMR, the recent adoption of automated border control system, which is taking place at a fast pace, is helping its global market to grow at a skyrocketing CAGR of 18.4% during the forecast period 2018-2026. The growth is expected to help the global automated border control market reach at a value of over US$ 2,900 Mn by the end of 2026.
Global Automated Border Control Market: Overview
The border control systems are deployed at airports, seaports and land borders, where a large number of passengers cross borders every day. The kiosk and eGates system stores each passenger’s information in their database. Increase in corporate travel and simplification & flexibility in border crossing process are some of the primary factors which are fueling the growth of the automated border control market. Among various application areas of automated border control systems, airports are expected lead with the highest market share and exceptional CAGR of 19.6% during the forecast period. However, other application areas are also progressing at a significant rate due to increase in the application of systems.
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The regional forecast depicts that Europe is expected to hold the highest market value by the end of forecast period. The growth in Europe is driven majorly with the help of government initiatives taken in the region. The European Union noticed that more than 85% of all international travel to the EU comes from within the region. This has led to the launch a new projects that could enhance the customer experience by simplifying the process of border crossing, immigration, and biometrics, while maintaining security and increasing the use of automated border control systems.
The European region is expected to reach a market value of over US$ 1,000 Mn by the end of 2026, growing at a CAGR of 20.9%. However, in terms of growth rate SEA and APAC is also expected to witness a stellar CAGR of 18.7% during the forecast period. The growth is also a result of rising efforts by the region to provide efficient travel systems. Many initiatives are being taken by the governments to reduce security breaches at airports and Land Borders, so as to provide a seamless and secured travel experience to customers. With an increase in the number of passengers traveling nationally and internationally, new systems are being installed or integrated with existing systems to enhance security at border crossings.
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Global Automated Border Control Market Strategy and Competition
Product launches and innovations help increase business revenue by increasing customer base and providing automated border control systems to border authorities, and creates a strong market presence. Collaborations and partnerships are expected to remain as the key strategies of key players in this market to increase their sales growth. The leading companies in the market areIndra Sistemas, S.A., Atos SE, SITA SA, IDEMIA Group (OT-Morpho), Secunet Security Networks AG, Vision-Box, DERMALOG Identification Systems GmbH, Veridos GmbH, Gunnebo Group and Vancouver Airport Authority.
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