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NEW YORK, United States, Jan. 30, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Traveler security services market Analysis by Component, Service Type and Organization Size – Forecast 2030 Valuation Will Reach USD 2.37 Billion by 2030, Registering a CAGR of 9.51% Over the Forecast Period (2020-2030) To do.
market analysis
The global traveler security services market is expected to experience significant demand due to increased business travel. TSA continues to pilot self-service checkpoint technology, which will have a positive impact on market revenue. In addition, public health measures through constitutional and legislative measures to promote domestic and international travel safety will boost the market size of traveler security services. Government initiatives to promote smart city projects and public safety offer significant growth opportunities for the traveler security services industry.
main player
The prominent market players profiled in the global Traveler Security Services market report are:
- SOS Security LLC (United States)
- Pinkerton Consulting & Investigations, Inc. (India)
- Sicuritalia Group Holding SpA (Italy)
- Anvil Group (UK)
- GardaWorld Corporation (Canada)
- Integrated Security Services, Inc. (United States)
- Drum Cusack (Canada)
- Northcott Global Solutions Ltd (UK)
- Sicuro Group LLC (UAE)
- Global Rescue LLC (US)
- American International Group, Inc. (USA)
- Tiger Swan (USA)
- Solace Global Limited (UK)
- TRACK24 (UK)
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Reporting scope:
| Reporting metrics | detail |
| Revenue forecast for 2030 | US$2.37 billion |
| growth rate | 9.51% CAGR from 2020 to 2030 |
| base year | 2019 |
| Forecast period | 2020-2030 |
| historical data | 2018 |
| Forecast unit | Value (USD Billion) |
| key market drivers | This report analyzes economic scenarios and factors, challenges, trends, opportunities, and constraints for estimating market growth and revenue trajectories. Covering macro and micro economic factors, we categorize the report into: |
COVID-19 safety measures for domestic and international travel drive up the market value of traveler security services. The COVID-19 outbreak has severely hit the travel sector and accelerated the traveler security services industry. Governments around the world recognize that science-based public health measures are important to prevent the spread of coronavirus by domestic travelers and people entering from abroad.
Therefore, the government has mandated executive orders to promote COVID-19 safety in domestic and international travel. These initiatives include governmental departments and agencies with relevant regulatory authority, including health and human services, the transportation sector, homeland security, the Transportation Security Administration (TSA), and the Coast Guard in travel infrastructure such as airports. appropriate action based on Commercial aircraft, trains, public vessels including ferries, and intercity bus services.
Read our in-depth market research report on the Traveler Security Services Market (page 130).
https://www.marketresearchfuture.com/reports/traveler-security-services-market-9392
industry trends
The traveler security services market has seen a steady rise over the past few months. Globalization and increased business travel by international organizations are major trends positively impacting the growth of the market. Huge R&D investments and technological advances by solution and service providers offer significant market opportunities. Additionally, huge demand for healthcare, legal liability, and the rise of business class travelers are impacting the growth of the market.
The TSA is implementing touchless technology that can match live photos with photos of travelers’ IDs, automatically authenticate IDs, and provide near-real-time flight information. All these factors have boosted the traveler security services market, allowing it to stay competitive and gain an advantage in adopting the latest technology.
segment
The market forecast for Traveler Security Services is segmented into component, service type, organization size, industry, and region. The Components segment is sub-segmented into Services and Platforms. The service type segment is sub-segmented into risk consulting, emergency and contingency planning, emergency response, regulatory compliance, investigation, privacy and fraud prevention, threat assessment, and others.
The organization size segment is sub-segmented into large enterprises and small and medium enterprises (SMEs). The industry segment is sub-segmented into government and public sector, family, corporate, and others. The regional segment is sub-segmented into Europe, Americas, Asia-Pacific, and Rest of the World.
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Regional analysis
North America is recognized as maintaining its dominance in the global traveler security services market. The largest market share comes from the growing number of organizations using these services for corporate travelers. Additionally, the rise in terrorist attacks and the COVID-19 pandemic measures in place at airports have increased the adoption of these services. U.S. and Canadian passengers are increasingly opting for traveler security due to increased security measures at airports.
Europe is the second largest market for traveler security services in the world. The market is driven by the increasing adoption of technologically advanced public safety platforms in their respective markets to improve traveler safety. In addition, rising purchasing power and prevalence of safety devices have a positive impact on market growth. The European traveler security services market is expected to generate a sizeable revenue pocket during the review period.
Asia Pacific is emerging as a globally profitable market for traveler security service solutions. Factors such as the growth of the tours and tourism industry and the increasing number of small and medium enterprises (SMEs) in the region are driving the market size. The growth of digital technologies in transport infrastructure presents various opportunities and presents several security concerns.
In addition, the proliferation of consumer electronics and increased use of electronic devices, along with growing demand for wireless technology from various industries, are creating considerable market demand. The rise of IoT and wireless networking technologies, along with the emergence of 5G networks, are triggering the sale of security services for travelers.
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Competitor analysis
The traveler security services market is witnessing several strategic partnerships alongside other strategic approaches such as expansion, collaborations, mergers and acquisitions, service and technology launches. Industry-leading companies invest heavily in research and development activities and pursue expansion plans.
For example, on January 5, 2023, AIG Travel Guard (AIG Travel), a well-established travel insurance company, announced the development of a business travel assistance app, the AIG Travel Assist app. The app has been developed in partnership with GeoSure to provide travelers with the most detailed safety assessments in the world.
In addition to allowing users to choose to track with an extra layer of security, the new app will enable state-of-the-art travel security alerts and reporting. Its GPS allows it to track the user’s last known location, while the traveler can send her an SOS or call Solace’s security center directly. The app also helps clients stay safe while traveling without interfering with their trip, and allows them to be notified of nearby incidents quickly.
Through the app, AIG Travel provides detailed country reports and real-time security alerts, travel health information such as required vaccinations and Covid-19 requirements, and other general travel information such as visa requirements and currency exchange rates. offers.
Related reports:
Fraud detection and prevention market By Solution, By Application – Forecast to 2030
Risk analysis market By Component, By Deployment – Forecast to 2030
Incident and Emergency Management Market By Solution, By System – Forecast to 2030
On the future of market research:
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