DUBLIN, Jan. 19, 2024 — The “Public Safety and Security Market by Offering, Technology, Application, End Use, and Geography – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The study underscores the latest market trends, shares, and development forecasts, projecting a substantial increase in the global market size from $217.9 billion in 2023 to $461.8 billion by 2030, at a CAGR of 11.3%.
Public safety and security encompass the crucial deployment of devices, software, and services aimed at safeguarding the public, infrastructure, and other vital areas from potential safety threats. This market’s growth trajectory is propelled by the increased use of AI, ML, and analytics within the sector; heightened public safety initiatives; and government efforts to mitigate risks associated with expanding urban populations.
Despite the optimism for growth, the market faces challenges, such as the requisite significant initial investments and complexities in deploying advanced systems. Nonetheless, opportunities abound with the integration of cloud computing and big data analytics, and the uptrend in terrorism and security breaches.
Market Dynamics and Segment Analysis
- Offering: Within the market segmentation, safety services are predicted to chart the fastest growth, driven by demand for specialized safety challenges solutions.
- Technology: The Internet of Things (IoT) segment is expected to witness the highest CAGR, due to the increased need for real-time insights and situational awareness.
- Application: Security and incident management lead in terms of swift growth, reflecting the urgency to respond effectively to emergencies and the rise of smart city integrations.
- End Use: The hospitals and healthcare segment is forecasted to experience the highest growth rate, as the sector increasingly adopts safety devices to protect both people and sensitive data.
- Geography: Europe emerges as a most dynamic regional market, expecting the highest growth rates as countries are significantly investing to counteract terrorism, cyber threats, and crime.
The market report is carefully segmented to reflect a broad spectrum of industry components, providing a thorough competitor analysis and evaluating market dynamics at a regional and global level. This foundation offers stakeholders a panoramic view of the current landscape and future prospects.
Global Industry Leaders and Innovations
Key industry players include prominent companies that operate across different regions, contributing to technological advancements and innovative approaches to public safety and security solutions. The wide array of offerings encompasses both products and services, addressing a comprehensive range of applications from threat detection to network security.
Emerging Trends and Market Insights
The report answers crucial questions about market drivers, challenges, and strategies, highlighting key trends and identifying high-growth countries. It provides a lens into local and regional players’ competitive strategies, underlining the need for industry stakeholders to remain vigilant in a dynamically evolving market landscape.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of process, application, and geography?
- What is the historical market size for the public safety and security market across the globe?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, opportunities, and challenges in the global public safety and security market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global public safety and security market?
- What are the recent developments in the global public safety and security market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global public safety and security market, and how do they compete with other players?
Factors Affecting Market Growth
- Growing Use of AI, ML, and Analytics to Enhance Public Safety and Security
- Increasing Awareness and Training Initiatives for Public Safety and Security Supporting Market Growth
- Government Focus on Managing the Needs of the Rising Urban Population Driving the Adoption of Public Safety and Security Products
- Significant Initial Investment Requirements Hampering the Implementation of Public Safety and Security Solutions
- Integration of Cloud Computing and Big Data Analytics Generating Market Growth Opportunities
- Rising Incidence of Terrorism and Security Breaches Boosting the Implementation of Public Safety and Security Systems
- Complexities in Implementation Impacting the Adoption of Advanced Public Safety and Security Systems
- Rising Cases of Data Theft Hindering Market Growth
- Case Study A: CP Plus International Provided Safety Solutions to Government Schools in Delhi (India) for Monitoring School Premises
- Case Study B: CP Plus International Installed Surveillance Products at Crowne Plaza Hotel in Greater Noida (India) to Ensure Customer Safety
Key Market Players (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Hexagon AB
- Fujitsu Ltd.
- Robert Bosch GmbH
- Atos SE
- Cisco Systems, Inc.
- Intel Corporation
- Siemens AG
- Fotokite AG
- Saab AB
- Airbus SE
Other Market Players (Business Overview and Product Portfolio)
- L3Harris Technologies, Inc.
Scope of the Report
Public Safety and Security Market, by Offering
- Safety Services
- Managed Services
- Disaster Management Services
- Critical Infrastructure Security Services
- Emergency Medical Services
- Firefighting Services
- Other Managed Services
- Professional Services
- Safety Devices
- Surveillance Cameras
- Geodetic Sensors
- Geotechnical and environmental sensors
- Other Sensors
- Biometric and Authentication Devices
- Safety Alarms
- Intruder Detection Devices
- Critical Communication Devices
- Other Safety Devices
- Safety Software
- Geographic Information Systems
- Access Control Software
- Building Management Software
- Vehicle Recognition Software
- Behavior Analytics software
- Other Safety Software
Public Safety and Security Market, by Technology
- Internet of Things
- Cloud Computing
- Machine Learning
- Artificial Intelligence
- Other Technologies
Public Safety and Security Market, by Application
- Security and Incident Management
- Threat Detection
- Fire and Explosion Examination
- Network Security
- Data Gathering
- Mapping and 3D Imaging
- Other Applications
Public Safety and Security Market, by End Use
- Shopping malls & Retail stores
- Hospitals & Healthcare
- Warehouses & Depots
- Schools & Universities
- Other End Uses
Public Safety and Security Market, by Geography
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/4f988n
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-public-safety-and-security-market-forecast-to-2030-integration-of-cloud-computing-and-big-data-analytics-generating-lucrative-growth-opportunities-302039270.html
SOURCE Research and Markets