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OREGAON, PORTLAND, UNITED STATES, February 20, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Narcotics Scanner Market by End Use, Technology, and Product: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global narcotics scanner market size was valued at $6.89 billion in 2020, and is projected to reach $12.59 million by 2030, registering a CAGR of 6.6%. Asia-Pacific was the highest revenue contributor, accounting for $2.42 billion in 2020, and is estimated to reach $4.27 billion by 2030, with a CAGR of 6.3%. North America is estimated to reach $4.57 billion by 2030, at a significant CAGR of 7.8%.
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Covid-19 Scenario of Narcotics Scanner Market:
Owing to lockdown restrictions during the Covid-19 pandemic, there were commute restrictions, weak financial performance of leading players, and reduced demand. This impacted the overall revenue of the narcotics scanners market.
Private and commercial security industries were affected severely by the pandemic. There had been a decline in investments initially. This affected the demand for narcotics scanners.
Manufacturers and suppliers of narcotics scanners utilized in law enforcement applications faced challenges in continuing their operations. However, the market is expected to recover soon.
The report offers detailed segmentation of the global narcotics scanner market based on end use, technology, product, and region.
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Based on end use, the airport segment contributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is expected to manifest the fastest CAGR of 7.4% from 2021 to 2030. The report also analyzes the segments including railways, seaports, and others.
Based on technology, the ion mobility spectrum technology segment accounted for the highest share in 2020, contributing to around two-fifths of the total share of the global narcotics scanner market, and is projected to maintain its dominant share during the forecast period. In addition, this segment is expected to register the largest CAGR of 7.4% from 2021 to 2030. The report also discusses the segments including infrared spectroscopy and others.
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Based on region, Asia-Pacific held the largest share in 2020, accounting for more than one-third of the total share. However, North America is estimated to portray the highest CAGR of 7.8% during the forecast period.
Leading players of the global narcotics scanner market analyzed in the research include Astrophysics Inc., Aventura Technologies, Inc., Bruker Corporation, FLIR Systems Inc., Klipper Enterprises, Nuctech Company Ltd., OSI Systems, Inc., Smiths Group PLC, Thermo Fisher Scientific Inc., and Viken Detection.
Similar Reports We Have on Defense & Security Industry:
Automotive Shielding Market – https://www.alliedmarketresearch.com/automotive-shielding-market-A08454
Automotive Split-view Camera Module Market – https://www.alliedmarketresearch.com/automotive-split-view-camera-module-market-A08455
Boat Rental Market – https://www.alliedmarketresearch.com/boat-rental-market-A08443
About Us –
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Analytics LLP
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