Segmentation Analysis
- By Product, the market is classified into walk-through, handheld, and ground search.
- By Application, the market is classified into security and hobby.
- By Geography, the market is classified as North America, Europe, APAC, MEA, and South America.
- To know about the contribution of each segment -Click Now!
Market Dynamics
Drivers:
- The key factors driving growth in the metal detector market are technological innovations and features. Many vendors in the market are developing innovative products that meet the demand existing in the market. The latest innovation in metal detectors includes wireless audio, integrated GPS, and weatherproof platforms. Numerous companies are developing and integrating new technological solutions in metal detectors to enhance their security features. For instance, Sesotec, a manufacturer of contaminant detection and material sorting technologies, introduced THiNK, new software that uses machine learning for better metal detection.
Challenges:
- The high cost of metal detectors will be a major challenge for the metal detector market during the forecast period. Prices of metal detector products differ, based on a variety of factors, including the detection surface design, LED indicators, alarm types, sensitivity levels, and warranties offered. Handheld metal detectors are priced at $95-$550. Most of the handheld metal detectors provide visual and audible alarms, and some metal detectors provide vibration alarms. Walk-through metal detectors are priced at $2,500-$10,000. Ground search metal detectors are priced at $250-$1,000. Thus, the high price of metal detectors makes most customers, especially in developing countries, reluctant to use such high-priced products, which, in turn, affects the revenue of the global metal detector market.
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Company Profiles
The metal detector market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the companies covered in this report are Codan Ltd., Costruzioni Elettroniche Industriali Automatismi SpA, First Texas Products, Garrett Electronics Inc., Leidos Holdings Inc., and Metal Detectors Inc., Nokta Makro Metal Detectors, OSI Systems Inc., View Systems Inc., and XP Metal Detectors, etc.
- Codan Ltd - The company offers VANQUISH series of metal detectors which include three turn-on-and-go detecting modes.
- For highlights on the vendor offerings - Grab a sample now!
Get ready to achieve excellent business outcomes from this exclusive Metal Detector Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Metal Detector Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Metal Detector Market Forecast Report - Buy Now!
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Metal Detector Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
Market growth 2020-2024 |
USD 160.56 million |
Market structure |
Fragmented |
YoY growth (%) |
-3.35 |
Performing market contribution |
APAC at 35% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Codan Ltd., Costruzioni Elettroniche Industriali Automatismi SpA, First Texas Products, Garrett Electronics Inc., Leidos Holdings Inc., Metal Detectors Inc., Nokta Makro Metal Detectors, OSI Systems Inc., View Systems Inc., and XP Metal Detectors |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Table of Content
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Walk-through - Market size and forecast 2019-2024
- Handheld - Market size and forecast 2019-2024
- Ground search - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Security - Market size and forecast 2019-2024
- Hobby - Market size and forecast 2019-2024
- Market opportunity by Application
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive Scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Codan Ltd.
- Costruzioni Elettroniche Industriali Automatismi SpA
- First Texas Products
- Garrett Electronics Inc.
- Leidos Holdings Inc.
- Metal Detectors Inc.
- Nokta Makro Metal Detectors
- OSI Systems Inc.
- View Systems Inc.
- XP Metal Detectors
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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