ALBANY, New York, Nov. 24, 2017 (GLOBE NEWSWIRE) -- As traditional ways of developing law enforcement technologies become inadequate for dealing with the current strategic realities, several companies within and beyond the defence sector are partnering with governments to bolster public safety. New technologies to counter global terrorism are being developed actively across several parts of the world.
Technology trends such as automation, artificial intelligence, and data analytics are aiding the development of robust solutions on public safety. System integration technologies will also play an instrumental role in development of advanced public safety solutions. These technologies will be responsible in bringing considerable efficiency in information sharing, value assessment and redundancy lowering operations of a national counterterrorism system. Tech giants such as International Business Machines Corp., popularly known as IBM, are also actively participating in the global counter terror and public safety technologies market. Other leading companies in the global counter terror and public safety technology market include, AT&T Inc., Accenture PLC, ABB Ltd., 3xLOGIC, Inc., AeroVironment, Inc., ACTi Corporation, Avigilon Corporation, The ADT Corporation, Alcatel-Lucent France, S.A., and Airbus SE.
Global Overview: Counter Terror & Public Safety Technologies
An exclusive report by Transparency Market Research projects that the global market for counter terror and public safety technologies will witness a steadfast growth in the approaching years. According to the research study, the global counter terror and public safety technology market will be worth nearly US$ 100 Bn in 2017. With the emergence of autonomous security robots and breakthroughs in data analysis, the demand for counter terror and public safety technologies will gain impressive traction in the next five years. By the end of 2022, the global counter terror and public safety technology market will reach a value of US$ 192.1 Bn, creating an overall incremental opportunity of around hundred billion dollars. During the forecast period, 2017-2022, the global counter terror and public safety technology market will expand robustly at a CAGR of 14.1%.
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North America to Remain Largest Developer of Counter Terror & Public Safety Technologies
In terms of development, the advanced technological infrastructure in the US, coupled with its expansive military and homeland security forces, will contribute to the growth of North America’s counter terror and public safety technology market. Through 2022, North America will dominate the global market and bring in close to US$ 60 Bn revenues. Europe and Asia-Pacific excluding Japan (APEJ) are also observed to be leading regions in the global counter terror and public safety technology market. During the forecast period, the counter terror and public safety technology market in these regions is anticipated to showcase expansion at more than 13% CAGR.
Increasing Focus on Intelligence Services & Growing End-use in CBRN Safety and Security
The study projects the chemical, biological, radiological, and nuclear (CBRN) safety and security will be the largest end-user of counter terror and public safety technologies. By 2022, over US$ 33 Bn worth of counter terror and public safety technologies will be used in the field of CBRN safety & security. Concurrently, the report also reveals intelligence services as the largest technology segment, and will account for more than 16% share on global revenues in 2017. Electronic fencing technologies will also witness steady revenue growth, and will create over US$ 10 Bn incremental opportunity between 2017 and 2022.
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