Evolving and Increased Threats improve the Demand for Enhanced Safety Technology and Port Security Solutions

According to Frost & Sullivan, security spending will be pushed by the new developments in the region such as Africa, APAC, and the Middle East. The shipping industry contributes 90% of global trade volume. The recent analysis by Frost & Sullivan on the global maritime port security market reveals that international governments prioritize the secure and safe transportation of various goods to ensure economic stability and growth. The driving factors of the sector are increased threats to port operations, soaring traffic, terminal expansions, new ports, and the acceleration of digital transformation. Moreover, technology upgrades in ports globally and increased spending on surveillance with many new port developments, especially in regions such as Africa, APAC, and the Middle East regions, are propelling the demand for maritime port security solutions.

As a result, the global industry is expected to hit, by 1930, $9.10 billion, from $6.74 billion in 2020. Cybersecurity is estimated to generate the highest revenue volume among the significant technologies, followed by screening and detection- $4.08 billion and $1.69 billion, respectively.

Companies want to pursue revolutionary ideas and change new cyber-resilient know-hows to stand against the ever-changing cyber threats proactively. To attain this, market contributors should emphasize on:

• Integrated systems for effective security operations
• Managed services business model
• Cybersecurity of physical security systems

A Dynamic Threat Landscape Propels the Global Maritime Port Security Market is the newest addition to Frost & Sullivan's Aerospace & Defense research and analyses accessible through the Frost & Sullivan Leadership Council, which supports administrations identify a constant flow of growth prospects to prosper in an impulsive future.

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