Global Public Safety and Security Market Size, Trends & Analysis - Forecasts to 2026 By Type of Components (Solution, and Service); By Type of Solution (Critical Communication Network, Cybersecurity, Emergency, and Disaster Management, C2/C4ISR System, Surveillance System, Scanning and Screening System, Biometric Security and Authentication System, Public Address and General Alarm, Backup and Recovery System); By Type of Service (Professional Services [Design and Consulting, Support and Maintenance, Installation and Integration, and Training and Education] Managed Services (Managed Network Services and Managed Security Services]); By type of Industrial Vertical (Homeland Security, Emergency Services[Disaster Management, Medical Services, and Firefighting Services] Critical Infrastructure Security, Transportation Systems Airports[Seaports, Railways and Other] Other Industrial Verticals); By Region (North America, Europe, Asia Pacific, MEA, CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Public Safety and Security Market Insights
The worldwide public safety and security market is relied upon to develop at a CAGR of 9.5% during the gauge time frame (2020-2026). Public safety and security is a governmental service that ensures public, organization, and institutional security from threats like injury or property damage, criminal activity, severe accidents, terrorist attacks, and environmental disasters. Factors such as increasing developmental initiatives taken by the government, surging trends related to public safety on the internet, rising number of criminal activities, and the need for strict government policies and regulations are the booster to the public safety market growth.
Public Safety and Security Market: By Type of Components
Solution and services are the types of components of this market. The service segment is further divided into managed service and professional service. Managed service is expected to grow at the highest CAGR rate as the globe organizations are growing their network to install public safety and security service solutions. However professional service will be the fastest-growing segment from 2020 to 2026.
Public Safety and Security Market: By Type of Solution
Based on the solution type, the market is segmented into the authentication system, public address and general alarm, backup and recovery system, C2/C4ISR system, cybersecurity, critical communication network, biometric security, surveillance system, scanning, screening system, and emergency and disaster management.
The critical communication network is ought to have the highest share in the market in the forecast period due to the high demand for high-speed wireless and broadband communication networks on a global scale. Besides, increasing the adoption of the critical communication network by developing regions for emergency and disaster management is estimated to drive this segment.
Public Safety and Security Market: By Type of Service
Based on the type of services offered, the market is segmented into professional services [design and consulting, support and maintenance, installation and integration, and training and education] managed services (managed network services and managed security services. The professional service will dominate the market and is estimated to perform similarly in the forecast period due to the high demand for the design and development of new public safety and security network. The government is continuously focusing on improving public safety and security by installing advanced biometric systems and authentication, surveillance system, and the C2/C4ISR system.
Public Safety and Security Market: By Type of Industry Vertical
Based on the industry services, the market is segmented into homeland security, emergency services [disaster management, medical services, and fire fighting services] critical infrastructure security, transportation systems airports [seaports, railways, and other). Homeland Security is expected to grow in the coming years due to increasing government initiatives in terms of polices towards improving homeland security and safety. Due to the COVID-19 outbreak, the internet is playing a very vital role across the globe leading to increase dependency on homeland security and law enforcement services.
Public Safety and Security Market: By Region
Based on the region, the market is segmented into Asia-Pacific, MEA, Europe, North America, and CSA. North American government is more focused on investing and improving the current public safety and security policies against terrorism and illegal immigration of people is the booster for the market growth of the segment, and hence this region will dominate the market from 2020 to 2026. Furthermore, rapidly urbanizing, witnessing illegal immigration process, high crime rate, and cross-border terrorism are the fuelling factors responsible for the Asia-Pacific’s fast-growing market in the forecast period. Furthermore, a growing number of smart cities in countries like India and China, who are investing more in improving surveillance and communication system are adding more values to the overall growth of the segment.
Public Safety and Security Market Share and Competitor Analysis
The key players operating in the market include Rave Mobile Safety, NICE, NEC, Motorola Solutions, IDEMIA, IBM, Huawei, Honeywell, Hexagon, Haystax Technology, Harris, General Dynamics, Esri, Ericsson, Elbit Systems, Cisco Systems, BAE Systems, Atos, Alcatel-Lucent Enterprise, and AGT International among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Motorola Solutions collaborated with the Dallas Police Department and Safer Dallas Better Dallas, to reduce crimes at a particular location.
In May 2020, Rave Mobile Safety, launched the Rave coronavirus safety solution to create a safe environment for the public.
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The Global Public Safety and Security Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Public Safety and Security Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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