The global public safety and security market accounted for a value of USD 328.9 billion in 2019. Public safety and security market projected to register growth at a CAGR of 6.1% during forecast period.
COVID-19 has impacted the public safety and security market. The outbreak of corona virus affected all the businesses around the world. The dependency on law enforcement agencies and homeland security has increased during COVID-19. Security, emergency services and others services are very much required by consumers during corona virus outbreak.
For more details, visit: Global Public Safety and Security Market By Solution(Surveillance System, Emergency & Disaster Management, others), By Verticals (Emergency Services, Critical Infrastructure Security, Others), By Region–Forecast & Opportunities to 2026
The governments across the world are taking initiatives to maintain public order to combat community transmission of corona virus. The disease control agencies across the world are focusing to protect the public. Various other agencies have recommended to law enforcement bodies to improve public protection to curb the transmission of corona virus. This drives growth in public safety and security market during forecast period.
On the basis of solution, the public safety and security market is segmented into cyber security, critical communication network, C2/C4 ISR system, emergency & disaster management, surveillance system, biometric security & authentication system, backup & recovery system, scanning & screening system and public address and general alarm. The emergency and disaster management solution is estimated to register growth at highest CAGR during forecast period. This solution is mainly used by government and some private organizations in order to rescue public from any kind of disasters such as tsunamis, earthquake and cyclones etc. This systems offer quick response and easier to manage. These systems provide solution of disaster recovery and incident evaluation. These systems also provide access to information required during emergency & disaster management. All this factors drives growth in emergency and recovery segment during forecast period.
On the basis of vertical, the public safety and security market is segmented into emergency services, homeland security, transportation systems, critical infrastructure security and others. The homeland security vertical is estimated to hold largest market share during forecast period. The number of terrorist attack is rising across the world. The government is investing in this segment to improve security at borders to assure safety of citizens. The homeland security provides protection to power plants, defense and government buildings etc. These factors are responsible to drive growth in this segment during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. The adoption of public safety and security is increasing in this region due to increase in number of criminal activities. The countries such as China, Singapore, New Zealand and Australia are estimated to resister highest growth in public safety and security market. The economic growth in Asia-Pacific region is very much higher and this region is witnessing political and social changes. Many countries have launched new national security polities to combat threats. This is likely to drive growth in Asia-Pacific region during forecast period.
The key market players in public safety and security market are Star, Pervasive, Participants, Emerging Leader, Cisco, Honeywell, IBM, Motorola Solution, NEC, Huawei, Thales Group, Siemens, Ericcson, Tyco, Hexagon and Atos.
- What are the expected industry trends over the next three to five years?
- Which of the public safety and security solution is likely to lead by 2025?
- Which of the vertical segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?