SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automated Border Control - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
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Edition: 8; Released: January 2022
Executive Pool: 789
Companies: 37 - Players covered include Accenture; Arjo Systems; Cognitec Systems; Cross Match Technologies; Gemalto; Gunnebo; IER SAS; Indra Sistemas; NEC Corporation; OT-Morpho and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software, Services); Solution Type (ABC e-Gates, ABC Kiosks); Application (Airports, Land Ports, Seaports)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Automated Border Control Market to Reach $2.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Automated Border Control estimated at US$849.2 Million, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 17% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 16.1% CAGR and reach US$1.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 18.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $300.4 Million in 2021, While China is Forecast to Reach $384.8 Million by 2026
The Automated Border Control market in the U.S. is estimated at US$300.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$384.8 Million by the year 2026 trailing a CAGR of 16.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.1% and 14.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR.
Services Segment to Reach US$578 Million by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 16.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$181.2 Million will reach a projected size of US$529.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.