Public Safety and Security Market Size & Share, Global Forecast 2029

 

The Public Safety and Security Market is estimated to grow at a CAGR of 9.5% during the forecast period, 2022-2029.

The factors driving growth of the Public Safety and Security Market includes increasing incidences of cyber crimes around the world, emerging need for security training and awareness, growing demand for effective security solutions, rise in the volumes of data generated around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), and Big Data Analytics, increasing penetration of connected devices and rising focus by Governments on protecting critical infrastructure, are some of the additional factors supplementing the Global Public Safety and Security Market. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.

However, growth of the Public Safety and Security Market is hindered due to insufficient availability of skilled workforce.

The major players operating in the market are Siemens, IBM, Honeywell, Huawei, AGT International, Atos, Motorola Solutions, Cisco Systems, Ericsson, Tyco, Nec, Nice and Rave Mobile Safety, among others. 

Based on Component, the Services emerged as the fastest growing segment during the forecast period

Integration of advanced technologies with public safety and security solutions and Government initiatives regarding the deployment of public safety systems, are some of the factors propelling segment’s growth.

Based on Application, the Medical Services segment is projected to dominate the market over the forecast period

Increasing prevalence of Covid-19 worldwide and rising focus by companies on reducing operational costs, are pushing growth of the segment.

Based on Region, the North American region is anticipated to capture the largest market share during the forecast period

Presence of the leading players such as IBM Corporation, Motorola Solutions and Cisco Systems, growing adoption of advanced technologies by manufacturers, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the Public Safety and Security Market size in the North American region.

Key Developments

• In 2021, Cisco introduced Digitization Program in Japan for supporting inclusive pandemic recovery to drive mass-scale digitization across the country in support of its Society 5.0 vision.
• In 2020, Verizon Business developed public safety applications portal to help public safety professionals and support industry standards for interoperability. The applications portal supports browsers, Windows, web apps, Android, and iOS platforms.

Market Segmentation

Segmentation by Component

• Solution
  • Cyber Security
  • Emergency & Disaster Management
  • Critical Communication Network
  • Biometric & Authentication System
  • Surveillance System
• Service

Segmentation by Application

• Emergency Services
• Natural Disaster Management
• Firefighting Services
• Medical services
• Others

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

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