NewswireToday - /newswire/ -
Palo Alto, CA, United States, 2007/04/03 - New analysis from Frost & Sullivan, Container Security: A Market Analysis, finds that the U.S. container scanning market earned revenues of $380.0 million in 2006 and is forecasted to reach $1,268.1 million in 2013.
Expanding global trade and increasingly complex supply chains are highlighting the demand for intelligence about containers as they pass through trade lanes. Recent government legislation on port and container security has also identified timely data as a significant factor for improving the container issue. Such information will also profit the shipping industry in tracking cargo, managing inventories and reducing costs.
New analysis from Frost & Sullivan (defense.frost.com), Container Security: A Market Analysis, finds that the U.S. container scanning market earned revenues of $380.0 million in 2006 and is forecasted to reach $1,268.1 million in 2013. Meanwhile, the world container sealing and monitoring markets earned combined revenues of $310.0 million in 2006 and Frost & Sullivan estimates this to reach $599.2 million in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the Container Security: A Market Analysis, then send an email to Vanessa Quezada - Corporate Communications at vanessa.quezada[.]frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.
"Despite differing opinions on the appropriateness of container security systems, the public and private sector are both demanding increased visibility," says Frost & Sullivan Research Analyst David Fishering. "While the government needs information for intelligence and risk assessments, the shipping industry wants the information to increase visibility and efficiency throughout the supply chain."
Although several factors are driving market growth, efforts to increase market penetration have been hampered by technological limitations and the high cost of container security. In segments dominated by the government, funding for the adoption of advanced technology is not yet warranted, as the government is still waiting for improved technological test results.
The shipping industry has also been reticent to implement advanced technology due to its relatively high cost; therefore, only the most progressive companies have implemented security solutions.
"In order to meet the needs of the government and the shipping industry, the container security providers are expected to innovate and develop systems that increase the value proposition through integration and interoperability," states Fishering.
Integrating systems through interoperable networks and communications will not only address the need for more accurate and timely data, but will also improve the value proposition for the public and private sector clients. This move by the system providers is likely to increase their total market share and help further expansion of the container security market.
Container Security: A Market Analysis is part of the Aerospace & Defense subscription, which also includes research services in the following: U.S. federal homeland security markets, world chemical and biological agent detector markets, North American unmanned aerial systems markets, North American distributed mission operations markets, and U.S. C4ISR markets.
All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership service, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.