London, 14 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the transportation safety and transportation security market in the Americas 2015-2019, which is expected to grow at a CAGR of 7.98% during the forecast period of 2014-2019.
The growing number of airports increases security threats, which again drives the installation of security systems for proper and safe functioning. Increased business operations between countries through ports need secure communications and cargo scanning systems. Therefore, the overall development of infrastructure has pushed the growth of this market.
“Railways are experiencing a rapid growth rate compared to airways and seaways. Therefore, it has become imperative to ramp up security mechanisms through CCTV, train-to-track communication systems, and positive train control,” says Faisal Ghaus, Vice President of Technavio.
“CCTV helps in controlling train traffic schedules through various functions of cameras such as motion detection, automatic lens control, and backlight reduction.”
Key Market Drivers
- Growing Need for Public Safety
- Massive Infrastructure Development
- Business Security Ensuring High ROI
- Ensuring Business Continuity
Key Market Trends
- Emergence of CBRN Defense Systems
- High-end Technology Adoption in Railway Safety Market
- Increased Adoption of e-Passports and Glasses-free 3D Technology
Key Market Vendors
- Alstom SA
- Honeywell International Inc.
- Orbcomm
- Rockwell Collins Inc.
- Siemens AG
- Smiths Detection
- Thales Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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