Vehicle Scanner Market to hit $2.5 Bn by 2032, Says Graphical Research Powered by GMI.

Selbyville, Delaware, June 06, 2023 (GLOBE NEWSWIRE) —

Vehicle Scanner Market is anticipated to cross a valuation of USD 2.5 billion by 2032, according to latest research report by Global Market Insights Inc.

The increasing demand for advanced security measures and innovative scanning technologies will bolster the industry growth. The need for advanced security measures, coupled with the rising number of vehicles on the road, has led to the development of sophisticated vehicle scanning technologies. According to the ACEA, motor vehicle production was recorded at over 85.4 million in 2022.

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Concerns about unauthorized access, smuggling, and terrorism are creating a strong requirement for efficient and reliable scanning solutions to ensure the safety of individuals and assets. Thus, a combination of factors such as technological advancements, increased security concerns, and growing demand for efficient vehicle inspection solutions will propel vehicle scanners market expansion over the forecast period.

Ease of use & convenience to boost demand for mobile scanners

Vehicle scanner industry size from the mobile scanner type segment will be over USD 900 million by 2032, owing to the technology’s flexibility, ease of use, and cost-effectiveness. The emergence of mobile scanner types, including handheld and portable devices, has revolutionized the inspection process, enabling efficient and seamless scanning of vehicles at various locations.

These systems offer several advantages over traditional, fixed scanning systems, including easy installation and relocation, lower upfront costs, and enhanced portability. This technology has found widespread adoption in law enforcement agencies, border control, and parking management systems, fueling the market development.

Growing need for comprehensive vehicular inspection in private/commercial spaces

The private/commercial application segment in vehicle scanner market will exhibit over 5% CAGR through 2032. Vehicle scanners are increasingly being adopted in private and commercial facilities, driven by the need to ensure the safety of occupants and assets. These scanning systems play a crucial role in identifying and preventing unauthorized access, detecting contraband or hazardous materials, and ensuring compliance with regulatory requirements.

Airports, seaports, shopping malls, and government buildings, among other facilities, are deploying advanced scanners to conduct comprehensive vehicle inspections. The implementation of advanced technologies such as automatic license plate recognition (ALPR) systems and artificial intelligence (AI) algorithms is augmenting the capabilities of vehicle scanners, resulting in improved threat detection and reduced manual intervention.

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APAC to remain a key market for vehicle scanners

Asia Pacific vehicle scanner market value will be worth more than USD 800 million by 2032, due to rapid urbanization, infrastructure development, and stringent security regulations. Countries like China, India, and Japan are witnessing a surge in automotive production and sales, necessitating efficient scanning systems for quality control and safety compliance. Furthermore, the region’s increasing investments in smart city projects and border security infrastructure are driving the demand for advanced vehicle scanner solutions.

Vehicle Scanner Industry Leaders

Vehant Technologies, Cass Parking, Advanced Detection Technology, LLC., Gatekeeper Security, Inc, Dahua Technology USA Inc., INFINITE TECHNOLOGIES, Godrej & Boyce, Omnitec Group, Leidos, Rapiscan Systems, PARKnSecure, SecuScan, SecureOne International BV, UVeye Inc., Tescon AG, and VMI Security System are among the key players operating in the vehicle scanner market.

Vehicle Scanner Industry News

• May 2023 – UVeye, an Israel-based provider of automated vehicle inspection systems, raised funding worth USD 100 million from various investors, including General Motors Co. This was aimed at introducing the firm’s industry-first AI-powered camera-based vehicle scanning technology across dealerships, used-car auctions, and fleets in the United States over a three-year period and to establish manufacturing operations in North America.

Partial Table of Contents (ToC) of the report:

Chapter 2   Executive Summary
2.1    Vehicle scanner market 360º synopsis, 2018 – 2032
2.2    Business trends
2.2.1    Total Addressable Market (TAM)
2.3    Regional trends
2.4    Scanner type trends
2.5    Structure type trends
2.6    Technology trends
2.7    Application trends
Chapter 3   Vehicle scanner market Insights
3.1    Impact on COVID-19
3.2    Russia- Ukraine war impact
3.3    Industry ecosystem analysis
3.4    Vendor matrix
3.5    Profit margin analysis
3.6    Technology & innovation landscape
3.7    Patent analysis
3.8    Key news and initiatives
3.9    Cost structure analysis
3.10    Regulatory landscape
3.11    Impact forces
3.11.1   Growth drivers
3.11.1.1    Increasing need for advanced security systems.
3.11.1.2    Growing demand for security and safety in public places
3.11.1.3    Rising usage of vehicle scanners in transportation and logistics
3.11.1.4    Stringent government regulations regarding safety and security
3.11.2   Industry pitfalls & challenges
3.11.2.1    High cost associated with vehicle scanner
3.11.2.2    Lack of standardization
3.12    Growth potential analysis
3.13    Porter’s analysis
3.14    PESTEL analysis

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