Public Safety & Security Market Expected to Worth $832.1 Billion Globally by 2031 at a CAGR of 7.5%: Allied Market Research

Rising instances of terrorist activities and security breaches and increase in government regulations and policies regarding public safety have driven the growth of the global public safety market.

PORTLAND, Oregon., August 15, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Public Safety and Security Market by Offering (Solution, Service), by Company Size (Large Enterprise, SMB), by Application (Communicating emergency and incident management, surveillance and security, disaster management), by vertical sector (government and public sector, transport, healthcare, retail, education, manufacturing, other): analysis of global opportunities and sector forecasts, 2021-2031”. According to the report, the global public safety and security industry was pegged to $405.7 billion in 2021, and should reach $832.1 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031. The report offers detailed analysis of changing market trends, major segments, major investment pockets, chain of value, the regional landscape and the competitive scenario.

Drivers, constraints and opportunities

Rising instances of terrorist activities and security breaches and increase in government regulations and policies regarding public safety have driven the growth of the global public safety market. However, lack of system interoperability and high installation costs are hampering the growth of the market. On the contrary, the advent of big data analytics in public security would open up new opportunities in the future.

Download the sample report (320-page PDF with information) at:

https://www.alliedmarketresearch.com/request-sample/18893

Covid-19 scenario:

  • During the pandemic, the demand for public safety solutions and services has increased due to increased investment in public safety solutions to curb the spread of the virus.
  • Crime rates and terrorist activity have increased during the pandemic, which has had a positive effect on the market.

Get a detailed analysis of the impact of COVID-19 on the Public Safety Market:

https://www.alliedmarketresearch.com/request-for-customization/18893

Services Segment to Show Highest CAGR through 2031

By offer, the services segment is expected to register the highest CAGR of 8.3% during the forecast period. Public safety and security services provide professional services such as implementation, training, and support and consulting services. However, the solutions segment led the market in terms of revenue, contributing nearly two-thirds of the global public safety and security market in 2021, and is expected to maintain its dominance throughout the forecast period. This is due to the increase in demand for artificial intelligence technologies and IoT devices among various governments across the globe to protect countries and citizens from various terrorist attacks.

The large enterprise segment held the largest share

By enterprise size, the large enterprise segment held the largest share in 2021, contributing more than two-thirds of the global public safety and security market, and is expected to maintain its leading position during the growth period. forecast. This is due to the increase in the adoption of AI-based solutions by government and large organizations across the globe to prevent and predict crimes as well as increase organizational security. However, the SME segment is estimated to register the highest CAGR of 8.6% during the forecast period, owing to the increasing trend in developing countries to install compatible intelligent security systems. IoT to capture, store and analyze continuous video streams.

Disaster Management Segment to Show Highest CAGR Till 2031

By application, the disaster management segment is expected to register the highest CAGR of 10.4% during the forecast period, as it is an essential service to provide direct updates on levels water and pond data to deal with disaster situations in cities. However, the surveillance and security segment led the market in terms of revenue in 2021, accounting for more than three-quarters of the global public safety and security market, owing to the increase in illegal events, terrorism and fraudulent activities associated with strict government standards.

The government and public sector segment held the largest share

By vertical, the government and public sector segment accounted for the largest share in 2021, holding more than a quarter of the global public safety and security industry, owing to the rise in adoption various technologies by government and the public sector to predict and analyze criminal activity across nations. However, the healthcare segment would show the highest CAGR of 9.2% during the forecast period, owing to the increase in the need for various incident and monitoring systems in the healthcare sector. healthcare to monitor critical patient conditions.

North America held the lion’s share

By region, the global public safety and security market across North America held the largest share in 2021, accounting for around two-fifths of the market, and is expected to maintain its dominance from 2022 to 2031, owing to the growing need to protect critical infrastructure and sensitive government data. However, the market across the Asia Pacific The region is expected to register the highest CAGR of 9.0% during the forecast period, due to the growing economic boom and various government initiatives.

If you have any questions, do not hesitate to contact our analyst at:

https://www.alliedmarketresearch.com/connect-to-analyst/18893

Main market players

  • amber
  • Atos SE
  • Cisco Systems, Inc.
  • carbyne
  • Esri
  • General Dynamics Society
  • Hexagon AB
  • Honeywell International Inc.
  • Huawei Technologies Co.,Ltd
  • Idemic
  • IBM Corporation
  • L3Harris Technologies
  • Motorola Solutions Inc.
  • NEC Corporation
  • Siemens AG
  • Thales Group

The report analyzes these key players in the global public safety and security market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.

>> LIMITED TIME OFFER

Access AVENUE – A subscription-based library (Premium on-demand, subscription pricing model) at:

http://www.alliedmarketresearch.com/library-access

street is a user-based library of global market reports database, provides comprehensive reports regarding the largest emerging markets in the world. It further offers electronic access to all available industry reports at a glance. By offering essential business information on diverse industries, economies, and end users worldwide, Avenue ensures that registered members get a simple, one-stop gateway to their all-inclusive needs.

Avenue Library Subscription | Request a 14-day free trial before purchasing:

https://www.alliedmarketresearch.com/avenueTrial

Similar reports:

The public safety LTE market is expected to reach $70.44 billion by 2028

The road safety market is expected to reach $14.8 billion by 2031

The Everything as a Service (XaaS) Market is Expected to Reach $2 billion by 2031

About Us:

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All the data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the field concerned. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
hong kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research