NEW YORK, June 23, 2021 /PRNewswire/ –The global container security scanning market is anticipated to exceed a valuation of US$ 3.5 Bn in 2021. Fact.MR estimates that container security scanning market revenues will grow positively at compound annual growth rate (CAGR) of 8% over forecast period 2021-2031.
Cybercrime costs around US$ 6 trillion globally, which equates to a loss of US$ 190,000 per second. Container security scanning was introduced in order to prevent and reduce security issues as number of cyber-attacks and hacking of confidential information has increased across the world. Hence, increasing applications will drive market growth.
According to the United Nations Conference on Trade and Development, goods traded in 2019 recorded more than US$ 19.5 trillion. Nearly 60% of the trade was seaborne. With seaborne trade forecast to increase in tandem with expanding international trade, businesses are acknowledging the importance of secure supply chain.
Companies are spending a lot of money on security systems to protect their data. According to study by Fact.MR, the global security market is expected to reach $170 billion by 2022. Furthermore, the exponential growth due to internet connections has fueled risk of cyber-attacks in a various industries. Thus, rising investments on security systems driving market growth.
“Numerous cloud service providers are collaborating with container security scanning companies to improve protection and alleviate customer concerns about security issues. This will result in greater adoption of container security across a variety of industries,” says a Fact.MR analyst.
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- The U. S. has emerged as most lucrative growth market and it has recorded 7% CAGR in 2020. The market will grow at 9% CAGR in forecast period.
- Increasing investment in security systems has escalated container security scanning market growth in Europe.
- East Asia is expected to surge at 11% CAGR due to growing demand for container security in countries such as China, Japan, and South Korea.