The Public Safety And Security by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Public Safety And Security, The public safety and security market size has grown rapidly in recent years. It will grow from $557.69 billion in 2023 to $628.89 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to natural disasters impact, terrorism and threats evolution, public safety investments, community policing initiatives, shifts in crime patterns.
The public safety and security market size is expected to see rapid growth in the next few years. It will grow to $1039.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to resilience planning, integrated command centers, remote monitoring solutions, data privacy solutions, ai-powered analytics.. Major trends in the forecast period include ai and machine learning integration, internet of things (iot) adoption, biometric authentication, cybersecurity measures, smart surveillance systems.
The rising instances of transnational and regional instability are expected to propel the public safety and security market. Transnational and regional instability refers to the political instability in neighboring countries. Public safety and security protect citizens and infrastructure from threats and danger nationally and internationally. For instance, according to the Global Peace Index from the Institute for Economics & Peace (IEP), a Sydney-based organization dedicated to studying peace, in 2020, political instability increased, with twice as many countries deteriorating than improving. The economic impact of violence increased in 2021 to $15.1 trillion due to an increase in global military expenditure, which rose by 0.9% over the previous year. Hence, the increasingly transnational and regional instability is expected to drive the public safety and security market.
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The public safety and security market covered in this report is segmented –
1) Public Safety And Security Market By Component: Services, Solutions
2) Public Safety And Security Market By Vertical: Homeland Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, Other Verticals
Subsegment : Critical Communication Network, Biometric and Authentication System, Surveillance System, Emergency and Disaster Management, Cyber Security, C2/C4ISR Networks, Scanning and Screening System, Public Address and General Alarm, Backup and Recovery Systems, Professional Services, Managed Services
Top Major Players
Product innovations have emerged as a key trend gaining popularity in the public safety and security market. Major companies operating in the public safety and security sector are focused on developing innovative products to strengthen their position in the market. For instance, in September 2022, Teledyne FLIR LLC, a US-based provider of thermal imaging cameras and sensors, launched SIRAS, an industrial inspection and public safety drone. It is designed for data security, performance, and affordability and is optimized for industrial and utility inspection, public safety, firefighting, and search and rescue missions. SIRAS features a quick-connect payload system that allows users to easily swap between the dual radiometric thermal and visible camera payload and other payloads, such as lidar and multispectral sensors. It is equipped with front collision avoidance sensors that help prevent accidents.
The public safety and security market report table of contents includes:
1. Executive Summary
2. Public Safety And Security Market Characteristics
3. Public Safety And Security Market Trends And Strategies
4. Public Safety And Security Market – Macro Economic Scenario
5. Global Public Safety And Security Market Size and Growth
……
31. Global Public Safety And Security Market Competitive Benchmarking
32. Global Public Safety And Security Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Public Safety And Security Market
34. Public Safety And Security Market Future Outlook and Potential Analysis
35. Appendix
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