Global Vehicle Scanner Market to Generate $5,812.3 Million by 2031, Owing to the Increasing Applications of Vehicle Scanner in Industrial Sector

Vehicle scanners are used by military and law enforcement authorities to check and scan vehicles for any illegal substances and materials. These vehicle scanning systems are generally employed at border check posts to reduce cross-border smuggling of drugs, arms and weapons, explosives, etc. Vehicle scanning systems typically employ X-ray or similar imaging technologies to scan the entire vehicle and provide an accurate picture of the vehicle’s interior to law enforcement officers.

Forecast Analysis of the Vehicle Scanner Market

In recent years, there has been an increase in applications of vehicle scanners in the industrial sector which is predicted to be the primary growth driver of the global vehicle scanner market in the forecast period. Additionally, an increase in the adoption of vehicle scanners to address security concerns is anticipated to push the market forward. Along with this, growing demand for full-body vehicle scanners from military and government facilities is projected to offer numerous growth and investment opportunities to the market in the analysis timeframe. However, the high cost of vehicle scanners is estimated to create hurdles in the full-fledged growth of the vehicle scanner market in the coming period.

The vehicle scanner market in the North America region is expected to be highly dominant by 2031. A rise in the development of advanced testing scan tools with complex software is expected to be the leading factor behind the growth of the market.

According to the report published by Research Dive, the global vehicle scanner market is expected to gather a revenue of $5,812.3 million by 2031 and grow at 6.0% CAGR in the 2022–2031 timeframe. Some prominent market players include Gatekeeper Security, Inc., International Road Dynamics Inc., Rapiscan Systems, SecuScan, SCANLAB GmbH, Advanced Detection Technology, LLC, SecureOne International BV, Omnitec Group, Chemring Technology Solutions, Leidos, and many others.

Covid-19 Impact on the Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The vehicle scanner market, too, faced a negative impact of the pandemic. The lockdowns and travel restrictions put in place during the pandemic led to a decrease in overall use of both passenger and commercial vehicles and thus reduced the demand for vehicle scanners. This decline in demand for vehicle scanners ultimately brought down the growth rate of the market in the pandemic period.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the vehicle scanner market to flourish. For instance:

• In June 2022, General Motors, a multinational automobile manufacturing giant, announced a collaboration with UVeye, a vehicle diagnostic solutions developer. This collaboration is aimed at developing advanced vehicle diagnostic systems that will scan and check for defects in a vehicle. This collaboration is expected to help both the companies to boost their market share significantly.

• In December 2022, Vehant Technologies, a leading AI-based security surveillance solutions provider, announced the launch of DepScan UVSS. DepScan UVSS is an advanced vehicle scanner that uses stereoscopic vision technology to fully check the vehicle’s interiors accurately. This product launch is anticipated to help Vehant Technologies to meet the demands of the vehicle scanner market comprehensively in the coming period.
   
• In March 2023, Tek84 Inc., a leading security surveillance products developer, announced the acquisition of Integrated Defense and Security Solutions (IDSS) Corp., a global leader in airport scanner systems. This acquisition is predicted to augment the market share of Tek84 Inc. substantially in the next few years.