Connect with us

Technology

Metal Detector Market to Grow by USD 267.6 Million (2024-2028) as Technological Innovations Advance, with AI Powering Market Evolution- Technavio

Published

on

NEW YORK, Oct. 16, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Metal Detector Market  size is estimated to grow by USD 267.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.2%  during the forecast period. Increase in technological innovations in metal detectors is driving market growth, with a trend towards increase in adoption of metal detectors in residential areas. However, high cost of metal detectors  poses a challenge – Key market players include Bounty Hunter, Codan Ltd, Costruzioni Elettroniche Industriali Automatismi SpA, Dongguan Juzheng Electronic Technology Co. Ltd., Elektral AS, Garrett Electronics Inc., Leidos Holdings Inc., Metal Detectors Inc., Nokta Makro Metal Detectors, OSI Systems Inc., Pirate Electronics Ltd., Quest Metal Detectors, The Tamis Corp., View Systems Inc., WIPOTEC OCS GmbH, XP Metal Detectors, and Zorpro Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Security and Hobby), Product (Walk-
through, Handheld, and Ground search), and
Geography (North America, Europe, APAC, Middle
East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and
Africa, and South America

Key companies profiled

Bounty Hunter, Codan Ltd, Costruzioni
Elettroniche Industriali Automatismi SpA,
Dongguan Juzheng Electronic Technology Co.
Ltd., Elektral AS, Garrett Electronics Inc., Leidos
Holdings Inc., Metal Detectors Inc., Nokta Makro
Metal Detectors, OSI Systems Inc., Pirate
Electronics Ltd., Quest Metal Detectors, The
Tamis Corp., View Systems Inc., WIPOTEC OCS
GmbH, XP Metal Detectors, and Zorpro Inc.

Key Market Trends Fueling Growth

The Metal Detector Market is witnessing significant growth due to increasing residential security concerns. Homeowners and authorities are recognizing the importance of security equipment, leading to the installation of metal detectors in residential areas. Terrorist activities have heightened the need for metal detectors in such places, with both walk-through and handheld models being used. Handheld detectors, which are cost-effective and portable, are popular among small residential apartments. The deployment of metal detectors in residential buildings worldwide is anticipated to increase during the forecast period, driving market expansion. 

The Metal Detector market is experiencing significant growth due to increasing security concerns in various sectors. Portable metal detectors, ideal for finding metallic objects in public spaces, are trending. Security applications include airports, schools, public events, industrial settings, and border checkpoints. Metal detectors are essential for safety purposes, detecting weapons, drugs, contraband, and other threats. Siddhi Equipments offers innovative solutions with handheld and walk-through detectors, featuring wireless audio, integrated GPS, waterproof platforms, and LED indicators. Alarm types and sensitivity levels cater to specific needs. Detectors are used in transportation, law enforcement, and security service providers. Food metal detectors ensure safety in residential areas and theme parks. Ferrous and nonferrous metal detection are crucial in museums and transportation hubs. Warranties and detector innovations ensure customer satisfaction. Security technology continues to evolve, addressing terrorism, mass shootings, and terrorist activity. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global metal detector market faces a challenge due to the high cost of metal detector products. Prices vary based on features such as detection surface design, LED indicators, alarm types, sensitivity levels, and warranties. Handheld metal detectors range from USD95 to USD550, offering visual, audible, and vibration alarms. Walk-through metal detectors cost between USD2,500 and USD10,000, while ground search metal detectors are priced at USD250 to USD1,000. This high price point may deter potential customers, particularly in developing countries, from purchasing these products, potentially impacting the growth of the metal detector market negatively during the forecast period.The Metal Detector Market faces several challenges in various industries. In the security sector, mass shootings and terrorist activity necessitate advanced security technology, including metal detectors for law enforcement, schools, and transportation hubs. Siddhi Equipments and security service providers compete to offer innovative metal detectors with features like wireless audio, integrated GPS, waterproof platforms, and LED indicators. In the food industry, metal detectors are crucial for food safety. Detecting ferrous, nonferrous, and stainless metals in food products is essential to prevent foodborne diseases and comply with regulations. Handheld and walk-through detectors are popular options, with sensitivity levels and alarm types varying to meet specific needs. Warranties and detector innovations are key considerations for food manufacturers. Residential areas and theme parks also use metal detectors for security. Ground searches for metal contaminants are common in these settings. Vibration alarms and sensitivity levels are important features for these applications. Overall, the Metal Detector Market continues to evolve, addressing the diverse needs of various industries.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This metal detector market report extensively covers market segmentation by

Application 1.1 Security1.2 HobbyProduct 2.1 Walk-through2.2 Handheld2.3 Ground searchGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Security-  Metal detectors are becoming essential tools for enhancing security screening processes in various sectors. Following increased security measures after terrorist attacks, major theme parks in the US and government organizations worldwide are installing metal detectors. Airport construction and expansion projects, driven by the growing number of airlines and commuters, will also result in a higher deployment of metal detectors. Commercial places like shopping malls and IT parks are also potential targets for terror attacks, creating demand for metal detector applications in the security segment. This trend is expected to fuel the growth of the global metal detector market during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Metal Detector market encompasses a range of portable devices designed to detect metallic objects in various settings. These devices find extensive applications in security scenarios such as airports, schools, public events, industrial settings, and safety purposes, addressing growing security concerns. The technology is employed at border checkpoints for weapons detection and in theme parks, museums, and transportation hubs for enhanced safety. Portable handheld detectors and walk-through detectors are popular choices, with features like wireless audio, integrated GPS, waterproof platforms, LED indicators, and different alarm types catering to diverse user needs. Sensitivity levels and warranties are crucial factors in determining the suitability of metal detectors for ferrous metals, nonferrous metals, stainless metals, and food metal detection in food industries.

Market Research Overview

The Metal Detector market encompasses a range of portable devices designed to detect metallic objects in various settings. These devices find extensive applications in security scenarios, including airports, schools, public events, industrial settings, and border checkpoints, for safety purposes and security concerns. Metal detectors are essential in detecting weapons, drugs, contraband, and other potential threats in public spaces, where terrorism and mass shootings are a concern. Siddhi Equipments and other manufacturers offer a wide range of metal detectors, including handheld and walk-through models, with features like wireless audio, integrated GPS, and waterproof platforms. Metal detectors are also used in food industries for detecting metal contaminants in food products, ensuring food safety and complying with regulations. Food metal detectors can detect ferrous, nonferrous, and stainless metals in packaged foods, preventing foodborne diseases and ensuring the quality and safety of food products. Metal detector innovations continue to advance security technology, providing sensitivity levels and alarm types to suit various applications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationSecurityHobbyProductWalk-throughHandheldGround SearchGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/metal-detector-market-to-grow-by-usd-267-6-million-2024-2028-as-technological-innovations-advance-with-ai-powering-market-evolution–technavio-302277528.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline

Published

on

By

‘Shen Shou Wan fu’ is an online slot game that features three powerful guardians, symbolizing immense wealth

Now available as physical slot machines in offline casinos through a collaboration with Kangwon Land

MVG plans to expand distribution with exclusive B2B rights to online channels for slot games

SYDNEY, Jan. 16, 2025 /PRNewswire/ — Massive Gaming(“MVG”) announced that it has launched the ‘Shen Shou Wan fu (神兽万福)’ slot game, co-developed with Neowiz, MVG’s parent company, and Kangwon Land, which hosts the only casino in South Korea open to locals. The game is now available in offline venues as slot machines.

‘Shen Shou Wan fu’ is an online slot game featuring motifs of the Golden Dragon (JIN LONG), Phoenix (FENGHUANG), and Haetae (XIEZHI), which symbolize luck and prosperity.

The slot machine debuted in offline casino venues. Key personnel from MVG and Neowiz worked closely on the art resources and software design of ‘Shen Shou Wan fu’, ensuring a seamless integration of creative and technical expertise. Kangwon Land managed the slot machine’s hardware design and manufacturing. This launch marks the first commercialization of software-based products through public-private collaboration in South Korea’s casino market.

After successfully establishing ‘Shen Shou Wan fu’ in the Korean market, MVG is ready to leverage this success for aggressive global sales. Holding exclusive rights to the slot game, MVG plans to expand its presence in the regulated gaming market by targeting key regions with strategic marketing and distribution.

A representative stated, “We are pleased to showcase our slot game in offline casinos with Kangwon Land,” adding plans to introduce diverse content for global markets.

Massive Gaming(MVG), a prominent B2B iGaming content provider and a subsidiary of Neowiz (KOSDAQ:095660), offers a diverse range of slot, table, and crash games, as well as an advanced Casino Management System and Live Streaming Services. With brands like Whale House, known for its unique slot games, and Blitzcrown, focused on non-traditional gaming experiences, MVG leads in innovative gaming solutions. Committed to high-quality service and technological excellence, MVG continues to expand its global presence. Learn more at: https://massivegaming.io/

 

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/massive-gaming-neowiz-and-kangwon-land-launched-shen-shou-wan-fu-slot-machine-offline-302351197.html

SOURCE Massive Gaming Pty. Ltd.

Continue Reading

Technology

LG Display Unveils 4th-Generation OLED Panel Optimized for AI Era

Published

on

By

SEOUL, South Korea, Jan. 15, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, continues to lead the way in large-sized OLED technology by unveiling its fourth-generation OLED TV panel. 33% brighter than the previous generation and optimized for the AI TV era, it is the industry’s first-ever OLED display to achieve a maximum brightness as high as 4,000 nits (1 nit is the brightness produced by a candle).

Panels with both high brightness and energy efficiency are essential for AI TVs, as they use upscaling that analyzes content in real time to deliver ultra-high picture quality of up to 8K. The industry also considers higher brightness to be a key picture quality factor because it enables more vivid images that are akin to natural human vision.

LG Display’s fourth-generation OLED TV panel meets the performance demands of the most advanced AI TVs, interacting in real-time with the TV’s on-device AI to deliver the perfect picture in any environment.   

The new panel’s innovation centers on a Primary RGB Tandem structure, which is LG Display’s proprietary technology that uses independent stacks of RGB elements to produce light. It had previously used a three-stack light source, with two layers of blue elements emitting relatively short energy wavelengths alongside red, green, and yellow elements in a single layer.

The Primary RGB Tandem structure applied to the fourth-generation OLED TV panel organizes the light source into four stacks by adding two layers of blue elements and independent layers of red and green elements. It improves maximum brightness by increasing the amount of light produced by each layer compared to the previous structure.

As well as increasing maximum brightness, LG Display has raised the latest OLED panel generation’s color brightness. Color purity is enhanced by separating the red, green, and blue elements – the three primary colors of light – into distinct layers, resulting in a color brightness of 2,100 nits, a 40% improvement over the previous generation (1,500 nits).

In addition, energy efficiency has been maximized in line with the significantly higher expected power consumption of AI TVs. By enhancing the fourth-generation OLED TV panel’s structure and power supply system, LG Display has reduced its temperature and achieved around 20% greater energy efficiency than the previous generation (in the case of a 65-inch panel).

It also delivers a customer experience that pushes the limits of display with stunning picture quality featuring perfect blacks and rich colors in any environment.

In general, a display’s color reproduction is affected by external light. As the screen reflects ambient light in a bright room, black may appear gray or overlapping reflections of nearby objects might disrupt the viewing experience. For example, while watching content featuring a night sky in a living room in the middle of the day, any sense of immersion would be broken if the sky appears foggy or if reflected furniture overlaps on the screen.

To solve this customer inconvenience, LG Display has developed a special film that offsets both light reflected from the display’s surface and light absorbed and reflected inside the panel. With the advantage of this ultra-low reflection technology, the company’s fourth-generation OLED TV panel blocks 99% of internal and external light reflections, realizing perfect black just like in a movie theater with the lights off even in a midday living room setting (500 lux).

A display’s color gamut and accuracy also decrease dramatically as the viewing environment gets brighter. However, this TV panel sees virtually no change in color gamut and offers 100% color accuracy at 500 lux. It is therefore the only display to overcome the viewing environment limitations of conventional displays.

Meanwhile, the fourth-generation OLED TV panel provides differentiated customer value through human-friendly technologies, such as by emitting only 45% blue light compared with the 70-80% level that would typically be produced by an LCD screen. Blue light is known to negatively affect users’ vision and circadian rhythms.

It additionally stands out as a sustainable display by adopting eco-friendly methods in the entire product life cycle from development to mass production, including using more than 90% fewer plastic raw materials than LCDs and improving the recycling rate of end-of-life product parts to over 92.7%.

LG Display will apply its fourth-generation OLED TV panel to its top-of-the-line mass-produced lineup this year to consolidate its dominance in the premium TV market.

The company then plans to gradually apply its Primary RGB Tandem technology to its Gaming OLED lineup, targeting the high-end gaming market with a diverse range of panels. This already includes the world’s fastest monitor panel equipped with the industry’s highest response speed and refresh rate, which are important specifications for gaming monitors, as well as bendable panels that adjust their curvature according to the gaming content.

“The fourth-generation OLED panel is the essence of innovation that exceeds the limits of existing displays by applying LG Display’s unique technologies such as Primary RGB Tandem and ultra-low reflection technology,” said Hyeon-woo Lee, Senior Vice President and Head of the Large Display Business Unit at LG Display. He added, “We will provide an unprecedented customer experience along with superior picture quality and user-friendly technology while strengthening our OLED technology leadership.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/lg-display-unveils-4th-generation-oled-panel-optimized-for-ai-era-302352499.html

SOURCE LG Display

Continue Reading

Technology

Agoda: Tokyo crowned top international destination for welcoming ‘The Year of the Snake’

Published

on

By

SINGAPORE, Jan. 16, 2025 /PRNewswire/ — As the Lunar New Year approaches, digital travel platform Agoda reveals the top 10 most sought-after cities in Asia to celebrate the start of ‘The Year of the Snake’. Japanese cities emerged as tourist favorites for the holiday period with Tokyo taking the top spot.

Tokyo is followed by Bangkok (Thailand), Osaka (Japan), Fukuoka (Japan), and Seoul (South Korea) rounding out the top five based on accommodation search data on Agoda. The list continues with Hong Kong, Sapporo (Japan), Singapore, Phuket (Thailand), and Hat Yai (Thailand) completing the top ten.

Asian travelers are drawn to celebrate the Lunar New Year in metropolitan hubs such as Tokyo, Bangkok, and Seoul. These cities offer an exciting array of festivities and cultural experiences, making them attractive destinations for a festive getaway. The rankings also reveal that travelers seeking international destinations enjoy a mix of climates, from the cooler weather in Osaka and Sapporo to the warmer temperatures in Phuket and Hat Yai.

Hiroto Ooka, Associate Vice President North Asia at Agoda shared, “The Lunar New Year is a special time for travelers, and it’s exciting to see Japanese cities like Tokyo and Osaka being such sought-after destinations during the holiday. Agoda is thrilled to be part of this journey, helping travelers welcome a prosperous ‘Year of the Snake’ and celebrate in style with great deals on flights, accommodations and activities.”

The Lunar New Year holiday marks new beginnings and the arrival of Spring, making it a popular travel period as people look to reunite with family and friends. ‘The Year of the Snake’ symbolizes rebirth and transformation and is said to present an auspicious opportunity for embracing self-discovery and exploring new horizons. Known for their association with good fortune, snakes inspire travelers to shed the old and welcome the new — whether by rediscovering familiar places or venturing abroad during this festive season. 

As travelers prepare for their Lunar New Year holidays, Agoda offers exceptional deals on over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available on the platform. Travelers can find the latest deals on the Agoda app or at agoda.com/deals.

–ENDS–

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/agoda-tokyo-crowned-top-international-destination-for-welcoming-the-year-of-the-snake-302351213.html

SOURCE Agoda

Continue Reading

Trending