Luton, Bedfordshire, United Kingdom, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Public Safety and Security market.
Public Safety and Security Market to Garner USD 1000.52 Million, Globally, by 2029 at 10.8% CAGR
A government function known as public safety and security makes ensuring that people, organisations, and institutions are secure from dangers such bodily harm or property damage, criminal activities, serious accidents, terrorist attacks, and environmental disasters. The public safety market is growing as a result of factors such rising government development initiatives, soaring internet trends related to public safety, an increase in criminal activity, and the requirement for rigorous government policies and regulations.
For the welfare of communities and the growth of the economy, public safety and security are crucial. Government also embraces the systems and tools that let intelligence agencies gather, comprehend, examine, and spot activity in real time. Furthermore, communities may secure important infrastructure, enhance public safety and security, and significantly impact resident lives by utilising smart technology such as internet of things (IOT), artificial intelligence (AI), machine learning (ML), and network technology devices.
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Recent Developments
- Honeywell made a strategic investment in RapidSOS in January 2022. To improve its capabilities for public safety communications, Honeywell's Connected Life Safety System (CLSS) will be connected to the RapidSOS emergency response data platform.
- In order to enhance its portfolio of products for public safety communications, Honeywell bought US Digital Designs in December 2021 and plans to combine it with its Fire and Connected Life Safety systems division.
- In February 2021, Cisco teamed up with Openpath, a pioneer in touchless, contemporary access control and automated workplace safety.
| Report Attribute | Details |
| Base year for estimation | 2021 |
| Actual estimates/Historical data | 2017-2020 |
| Forecast period | 2022-2029 |
| Market representation | Revenue in USD billion and CAGR from 2022 to 2029 |
| Regional scope | North America, Europe, Asia Pacific, Latin America, and MEA |
| Country scope | U.S., Canada, U.K., Germany, India, Japan, China, and Brazil |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Public Safety and Security Market Players
Cisco, Honeywell, IBM, Siemens, Hexagon AB, L3HRRIS Technology, Teltronic, Idemia, Motorola Solutions, Scadafence, SmartCone Technologies, Cityshob, Alcatel Lucent Enterprise, AGT International, General Dynamics
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Public Safety and Security Market Segmentation
Global Public Safety and Security Market By Component
- Solution
- Services
Global Public Safety and Security Market By Deployment Type
- On-Premise
- Cloud
Global Public Safety and Security Market By Solution
- Critical Communication Network
- C2/C4isr Networks
- Biometric Security And Authentication System
- Surveillance System
- Scanning And Screening System
- Emergency And Disaster Management
- Cybersecurity
- Public Address And General Alarm
- Backup And Recovery System
Global Public Safety and Security Market By Services
- Professional Service
- Managed Services
Global Public Safety and Security Market By End-User
- Homeland Security
- Emergency Services
- Critical Infrastructure Security
- Transportation Systems
- Others
Public Safety and Security Market Regional Analysis
Due to the existence of developed economies like the United States and Canada, strong economic growth, the predominance of strict public safety rules, and increased investments by SMEs in the region, North America dominates the public safety and security industry. Another crucial element influencing this region's success is the prevalence of cutting-edge IT infrastructure.
The Asia-Pacific area is projected to grow at the greatest rate during the forecast period and is already displaying promising potential. This is due to the expanding need for intelligent security solutions in China and India, as well as an increase in cyberattacks and terrorist activity and the number of small and medium-sized businesses.
Increased demand for effective security solutions
The number of data breaches are increasing rapidly all across organizations. centralised data safety and security solutions are receiving significant investment from large enterprises. This has increased the market's potential for growth. The market's growth rate is being sharply boosted in an upward direction as a result of the growing trend toward cloud-based data platforms to manage and mitigate difficulties with data theft and cyber security.
Other significant market drivers throughout the projection period include growing urbanisation, industrialization, and the growing requirement to derive in-depth insights from expanding data quantities and perform benchmarking. The market's growth rate is also projected to be driven by increased company expenditure in data storage facilities and rising consumer desire for streamlined access to organisational data from departmental silos.
Key Takeaways
- The market for cloud-deployed public safety and security is predicted to develop at the quickest rate between 2022 and 2027 due to reasons like the quick uptake of cloud-based services and applications, the prevalence of R&D initiatives, and others.
- Due to the rise in criminal activity, including terrorism and illicit trade in products, as well as governmental measures to raise border security standards, the Homeland Security segment led the global Public Safety and Security market in 2021.
- Due to government measures aimed at enhancing public security, an increase in cybercrime, and other factors, the North American public safety and security market held the highest share in 2021.
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