Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Overview:
According to Market Research Future (MRFR), the global public and personal safety market is poised to touch a valuation of over USD 518 BN by 2023. MRFR also confirms that the market would acquire a CAGR of 13% throughout the forecast period (2017 to 2023). Additionally, factors such as the increasing urbanization, population, and improving economic conditions are substantiating the growth of the market. Technological advancements transpired in the field alongside, the demand for more efficient and responsive connected devices and the user-friendly, advanced safety systems are providing a considerable impetus to the market growth.
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Conversely, the lack of technical competencies and the high initial investment required for the implementation of safety systems are some of the major factors obstructing the growth of the market. Nevertheless, well-spread awareness about the prominence of the safety systems and safety measures would support the market growth majorly over the assessment period.
Key Players:
Players leading the Public And Personal Safety Market include Tyler Technologies Inc. (US), Huawei Technologies (China), Cisco Systems, Inc. (US), Northrop Grumman Corporation (US), Alcatel-Lucent (France), LM Ericsson (Sweden), ESRI (US), NEC Corporation (Japan), AGT International (Switzerland), and Honeywell International, Inc. (US), among others.
Global Public and Personal Safety Market - Segments
The report is segmented into four key market dynamics to widen the scope of understanding,
By Solution: C2/C4ISR System, Critical Communication Network, Biometric Security & Authentication System, Surveillance System, Scanning & Screening System, and Emergency Disaster Management, among others.
By Service: Managed and Professional Services, among others.
By End-user: Government, Commercial & Residential, Retail, and BFSI, among others.
By Regions: Europe, North America, and the Rest-of-the-World.
Mapping the Global Market:
The North American region leads the global public and personal safety market. The huge adoption of advanced technologies and the augmenting demand for safety & comfort features drive the regional market growth. The presence of well-established BFSI industry in this region creates growth opportunities for the regional market. The US, among other North American countries, leads the growth.
The public and personal safety market in the European region is a substantially large in terms of both size and volume. Stringent government regulation towards public and private safety fosters the growth in the regional market.
The Asia Pacific public and personal safety market is emerging as a promising market, globally. Constant technological advances and the presence of a number of prominent manufacturers in the region are some of the major factors boosting the growth of the regional market. China is one of the largest markets in the region. Increasing awareness about technological developments is a significant tailwind driving the demand in the APAC market.
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Head-to-Head
March 29, 2019 --- MSA Safety Incorporated (the US), a leading global safety equipment manufacturer, announced the acquisition of Sierra Monitor Corporation (the US), a leading global provider of Industrial Internet of Things (IIoT) solutions to protect infrastructure assets to the industrial and commercial facilities management. The definitive agreement is an all-cash transaction valuing approximately USD 33 MN.
The fixed gas and flame detection (FGFD) instruments and Industrial Internet of Things (IIoT) solutions that connect and help protect high-value infrastructure assets. Typical uses for Sierra Monitor technology include wastewater treatment facilities, light manufacturing, transportation infrastructures, and HVAC applications.
The acquisition would accelerate MSA's strategy to enhance worker's safety through the use of cloud technology and wireless connectivity. Simultaneously, it would also help MSA in supplementing its organic investments in software-as-a-service applications, including its recently established Safety io™ subsidiary.
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