Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Border Security Technologies: Emerging Trends, Key Opportunities & Market Forecasts 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The value of the border security technology market will exceed $70 billion globally in 2027; rising from $48 billion in 2022.
Growing 47% over the period, the new report predicted that the adoption of AI-integrated technologies, such as advanced surveillance systems will be a key driver. However, this adoption is causing controversy, with campaigners raising concerns over privacy issues.
Border perimeter technologies, comprised of camera systems and perimeter intrusion detection systems, will account for 36% of market revenue globally by 2027, up from 26% in 2022. It found that countries are increasingly seeking automated border perimeter technologies to secure borders from the growing illegal movement of people.
Furthermore, the adoption of AI-integrated surveillance towers will be critical to driving growth, with the total value of camera systems globally expected to reach $22.8 billion by 2027; up from $10.1 billion in 2022. Surveillance towers are capable of creating a virtual border, detecting, identifying, and tracking threats over great distances.
AI-integrated surveillance towers are at the centre of growing concern by campaign groups regarding their potential to analyse the behaviour of the general population, possibly infringing upon people's human rights. These concerns may slow adoption unless addressed. Vendors must ensure that privacy regulations, such as GDPR, are adhered to and the population is made aware of the data protection measures in place to protect people's privacy.
Market Dynamics:
Through this comprehensive report, discover market drivers, key trends and challenges within the border security technologies market; addressing challenges posed by illegal activities, such as drug smuggling and the illegal movement of people, the potential benefits of increasing defence spending, and the increasing militarisation of border control in the border security market.
The detailed analysis also includes a regional analysis examining the current development of the border security technologies market in 20 countries, as well as looking at contested borders and providing future prospects for enhanced border security.
This research suite comprises:
- Market Trends & Strategies (PDF)
- Competitor Leaderboard (PDF)
- Data & Forecasts (PDF & Excel)
- 12 Months' Access to harvest Online Data Platform
Key Market Statistics
- Market size in 2022: $48bn
- Market size in 2027: $70bn
- 2022 to 2027 Growth: 47%
Competitor Leaderboard:
- Atos
- Controp Precision Technologies
- Elbit Systems
- General Atomics
- Giesecke+Devrient (G+D)
- IDEMIA
- Indra Sistemas S.A
- Leidos
- Leonardo
- Lockheed Martin
- Moog
- Raytheon Technologies
- Saab AB
- SITA
- Teledyne FLIR
- Thales
For more information about this report visit https://www.researchandmarkets.com/r/l0l2bu
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