The market for AI baggage scanning system is expected to grow at a CAGR of around 41.3% from 2020 to 2027 and expected to reach the market value of around US$ 5,544.9 Mn by 2027.
AI baggage scanning system is an artificial intelligence-based solution that ensures accuracy and efficiency in threat detection at various security checkpoints. These may offer the features like high throughput, huge range, flexible integration, universal compatibility, and regulation-compliant among others. The integration of AI in the baggage scanning system allows ultimate in-image detection, examination of bags with high contrast filter, and allows enhanced material discrimination.
The increasing terrorist activities and consequent safety concerns have increased the demand for security systems including baggage scanners across the globe. Law enforcement and government agencies across the globe are significantly upgrading their security capabilities is additionally boosting the market value. The increasing investments in infrastructure development of developing economies are further propelling the market value. Additionally, increasing smart city projects and the growing maritime tourism industry are further expected to provide potential growth during the forecast period from 2020 to 2027. Furthermore, the increasing usage of destination coded vehicles and robotics in baggage scanning is expected to drive the market during the forecast period.
On the other hand, the high cost associated with the AI-based application as well as the complexity and high price associated with the initial installation and maintenance is further hampering the market growth in the estimated period.
Segment Instance of Global AI Baggage Scanning System Market
Destination coded vehicle segment is projected to exhibit fastest growth over the forecast period
Destination coded vehicles (DCV) are anticipated to experience the fastest growth in the near future. The faster operation rate of DCV as compare to the conveyor, which helps in handling the increasing number of air travelers is supporting the market growth. The increasing number of airport infrastructural development projects in order to expand the capacity is additionally bolstering the regional market value.
North America accounted for the maximum revenue share in the AI baggage scanning market
In 2019, North America leads the market with dominating share, and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The presence of major players and advanced Application infrastructure in the region is supporting the regional market value. The high risk associated with the terrorist activities in the major economy of the region US is highly involved in the market growth.
Asia Pacific is estimated to exhibit fastest growth over the forecast period from 2020 to 2027
The increasing number of air travelers along with the tourism industry of developing economies is supporting the fastest growth of the region. The increasing disposable income and growing upper-middle-class population are boosting the demand in the market. The continuous efforts towards the infrastructural development in terms of security and fast services by the government owing to the increasing security concern are additionally propelling the regional market value. The increasing number of startups in the AI industry is additionally expected to boost the growth in the near future.
Baggage AI, an Indian startup has developed a sophisticated high-performance artificial intelligence (AI)-based system for automatic object detection of banned items in baggage through x-ray images. The system looks at each image like a human eye, outline banned items, and send alert to the connected screen. The existing scanners work on manual detection, while this system has automated the process by finding and locating prohibited items in the x-ray image of the scanned baggage.
The players profiled in the report include Astrophysics Inc., Daifuku Co. Ltd., Rapiscan Systems, Siemens Postal, BaggageAI, Parcel & Airport Logistics, SITA, Smiths Detection, Synapse Application Corporation, Vehant Technologies, and Westminster Group Plc.
Market By Component
Market By Type
Destination Coded Vehicle
Market By Application
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The market for AI baggage scanning system is expected to reach a market value of around US$ 5,544.9 Mn by 2027.
The AI baggage scanning system market is expected to grow at a CAGR of around 41.3% from 2020 to 2027.
Destination Coded Vehicle segment by type is expected to experience major growth in the AI baggage scanning system market.
The increasing terrorist activities and consequent safety concerns, increased demand for security systems, law enforcement and government agencies across the globe are significantly upgrading their security capabilities, and increasing investments on the infrastructure development in developing economies are some of the factors driving the market growth.
Astrophysics Inc., Daifuku Co. Ltd., Rapiscan Systems, Siemens Postal, Parcel & Airport Logistics, SITA, Smiths Detection, Synapse Application Corporation, Vehant Technologies, and Westminster Group Plc. are the prominent players in the market.
North America held the highest market share in the AI baggage scanning system market
Asia Pacific is expected to be the fastest growing market over the forecast period