Public Safety and Security Market on Track to Hit $461.8 Billion by 2030

 

Meticulous Research® has released a new report titled 'Public Safety and Security Market by Offering (Safety Devices, Safety Software, Safety Services), Technology (IoT, AI, Cloud Computing, ML), Application (Data Gathering, Mapping, and 3D Imaging), End Use (Warehouses & Depots, Workplaces, Shopping Malls & Retail Stores) and Geography - Global Forecast to 2031.'

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5661

The research highlights that the global public safety and security market is set to grow from $234.2 billion in 2024 to a staggering $514.1 billion by 2031, with a compound annual growth rate (CAGR) of 11.9%. The market's expansion is primarily driven by the increasing deployment of AI, ML, and data analytics in public safety and security measures. Additionally, rising awareness of public safety, along with various government initiatives aimed at ensuring security for the urban population, are contributing to this growth. Despite the positive outlook, the market faces challenges, including the high initial investment required for the deployment of these systems, which could potentially hinder growth. However, the integration of cloud computing and big data analytics, combined with the rising threat of terrorism, presents significant growth opportunities. Nevertheless, complexities in implementing advanced systems and the growing incidents of data theft are expected to be key challenges for market participants.

The report provides a detailed segmentation of the global public safety and security market, examining the market by offering, technology, application, end use, and geography. It also includes a competitive analysis of the market at both country and regional levels.

Offering: The global public safety and security market is segmented into safety devices, safety software, and safety services. Among these, the safety services segment is expected to account for the largest market share in 2024, driven by the increasing demand for specialized safety services to address specific safety and security challenges. Safety services such as critical infrastructure security, emergency medical services, firefighting, and disaster management are essential for ensuring the safety and security of citizens and critical assets. This segment is also projected to register the highest CAGR over the forecast period.

Technology: The market is further segmented by technology into the Internet of Things (IoT), artificial intelligence (AI), cloud computing, machine learning (ML), cybersecurity, and other technologies. The IoT segment is expected to hold the largest market share in 2024, driven by the growing demand for real-time data insights and enhanced situational awareness. This segment is also anticipated to register the highest CAGR during the forecast period.

Application: Based on application, the global public safety and security market is segmented into data gathering, mapping and 3D imaging, threat detection, security and incident management, monitoring, fire and explosion examination, network security, and other applications. The security and incident management segment is expected to account for the largest share of the market in 2024, driven by the need to respond effectively to emergencies, the growing adoption of smart city technologies, and the integration of IoT devices. This segment is also projected to register the highest CAGR during the forecast period.

End Use: The market is segmented by end use into warehouses and depots, workplaces, shopping malls and retail stores, schools and universities, hospitals and healthcare facilities, residential areas, transportation, and other sectors. The transportation segment is expected to account for the largest share of the market in 2024, driven by the increasing concern over terrorist threats and the growing focus on passenger safety. The adoption of advanced transportation security solutions, such as contactless ticketing and facial recognition technology for identity verification, is further driving the growth of this segment. Additionally, the use of AI-based video analytics for crowd monitoring is expected to contribute to the growth of this segment. However, the hospitals and healthcare segment is projected to register the highest CAGR during the forecast period.

Geography: The market is segmented by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the global public safety and security market in 2024, driven by the region's rapid adoption of digital technology and data-driven approaches to improving decision-making, promoting digital inclusivity, and prioritizing citizen safety. However, Europe is expected to register the highest growth rate during the forecast period, with a strong CAGR.

Key Players

The key players operating in the global public safety and security market are Hexagon AB (Sweden), Fujitsu Ltd. (Japan), Robert Bosch GmbH (Germany), Atos SE (France), Cisco Systems, Inc. (U.S.) Saab AB (Sweden), Airbus SE (Netherlands), Siemens AG (Germany), Intel Corporation (U.S.), Fotokite AG (Switzerland), CityShob (Israel), 3xLOGIC (U.S.), L3Harris Technologies, Inc. (U.S.), OnSolve (U.S.) and Haystax (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/public-safety-and-security-market-5661

Key Questions Answered in the Report:

  • Which are the high-growth market segments in terms of offering, technology, application, end use, 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 2024–2031?
  • 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?

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Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
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