Public Safety and Security Market is projected to rise at a CAGR of 9.5% during the forecast period till 2029 | Size, Share Report & Forecast

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

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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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