Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Overview:
The global public safety analytics market is gaining a momentum of 16% CAGR and can reach a valuation of USD 11.75 billion during the forecast period (2018-2023). Market Research Future (MRFR) claims that the Public Safety Analytics Market is poised to acquire this growth by getting charged from several factors. Public safety analytics is a recently developed department like any other law enforcement agencies that tries to ensure safety and security of the public by analyzing data collected from various sources like video analytics, identity analytics, and social media analytics
Factors to inspire the global public safety analytics market position are rising criminal and terrorist activities, possibility of analyzing real-time data, integration of machine learning, and increased takers from the law enforcement agencies.
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Key Players:
The public safety analytics market includes vendors which provides security evaluation services across the globe. The companies include Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), Haystax (US) and among others.
Segmentation:
The global public safety analytics market study has its focus on segments like component, analytics type, deployment type, application, and vertical. These segments have been included in the study to facilitate a closer review of the entire process.
Based on the component, the public safety analytics market includes solution and service. The solution segment comprises video analytics, sensor data analytics, social media analytics, identity analytics, others (speech analytics, text analytics, and crowd analytics) and the service segment has support & maintenance, consulting services, system integration, and managed services. The social media analytics is gaining substantial mileage as its deep probing ability into published opinions can strongly influence safety system.
Based on the analytics type, the public safety analytics market comprises predictive analytics, prescriptive analytics, and descriptive analytics. The predictive analysis segment has possibilities of growth as it can help in staying a step ahead of the miscreants.
Based on the deployment type, the public safety analytics market consists on-premise and cloud. The cloud segment has notable taker owing to increasing digitalization.
Based on the application, the public safety analytics market encompasses pattern recognition, incident detection, person of interest screening, and surveillance. The surveillance segment has widespread application in several sectors.
Based on the vertical, the public safety analytics market includes law enforcement & intelligence agencies, border control, public transportation security, critical infrastructure security, and others (manufacturing and emergency services). The law enforcement & intelligence agencies segment is enriching each day with the facility and its demand to protect the populace is quite substantial.
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Mapping the Global Market:
Geographically, the global public safety analytics market can be studied as per regions like North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW). These regions offer a better glimpse into the regional market dynamics and open up readings of growth pockets.
North America has better market positioning and its inclusion of several devices to constantly monitor the public domain to ensure safety and reduce the chances of any kind of terrorist activity is really commendable. Several major cities like the US and Canada are impacting the regional market the most.
The APAC region is facing substantial threat from terrorist groups all the time. Hence, the demand for the inclusion of such public safety analytics tools is witnessing a surge. This creates a possibility for the market to grow at a remarkable speed and come close to the North American region in the coming years. Smart city projects are also ensuring better intake of the public safety analytics market.
Head-to-Head
In July 2019, Motorola Solutions took over WatchGuard, a company that is known for their latest developments in mobile video camera and video capture technologies. WatchGuard also works as public safety analytics provider in the US. Such an acquisition is marked to develop better analytics tools.
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