Future Market Insights (FMI) has published its latest report into the transportation and security systems market.
The global transportation and security system market is estimated to reach US$ 17.8 billion in 2023 and is expected to grow to US$41.1 billion by 2023, trailing a CAGR of 8.8% during the forecast period.
According to the report from Future Market Insights (FMI), between 2018 and 2022 the transportation and security system market witnessed growth of 4.6% CAGR.
Transportation and security systems market: a regional look
Projections show that the Europe market will produce 19.8% of all transportation and security systems by 2033.
According to estimates, the transportation and security system market in the United Kingdom will generate US$ 36 million by 2033.
“Higher security and advanced technologies in railway systems will make transportation and security systems more popular. Video monitoring and screening developments created by emerging technologies are expected to increase in popularity in the coming years,” said an analyst from Future Market Insights.