Public Safety and Security Market Segment Analysis- By Type
Based on type segmentation, Software segment is analysed to grow with the highest CAGR of 7.6% in the global public safety and security market during the forecast period 2021-2026. Deployment of public safety and security software helps the end-users to have a real-time situational awareness required to drive protection or mitigate impacts against unexpected or unplanned disaster events. According to Cisco 2021 white paper report, video surveillance has been facing new advances over time to bring operational benefits for public safety agencies, for improving speed as well as precision towards decision making. Adoption of software solutions for automating back-end video management services through alerting appropriate personnel during any event occurrence can help in reduce staffing costs, leading to more savings. This in turn, can help in positively impacting the market growth of public safety and security software. In addition, the public safety and security software solutions can offer advantages like handling growing complexities during crime investigations faced by the authorities, eliminate loss of evidence, improved case solvability, automated manual processes, and so on, intended to raise its market demands in the long run. In March 2020, iBwave announced the launch of a software solution, named iBwave Public Safety, designed specifically for serving critical communications and public safety networks. This development was meant to help engineers design public safety networks with a high accuracy level, automated documentation, as well as help in defining critical zone areas or isolating donor antennas under affordable cots while reducing planning and deployment time. Such factors will further boost the market growth for public safety and security solutions in the coming time.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=500551
Report Price: $ 4500 (Single User License)
Public Safety and Security Market Segment Analysis- By End Users
Homeland Security is analysed to acquire the largest share of 45% in 2020 and is estimated to witness significant growth of CAGR of 9.5% during 2021-2026. The growing rate of criminal activities including terrorism, financial frauds, cyber-attacks, illegal trafficking of goods and others, have been attributing to the need for improving public safety, security, and surveillance across law enforcement and intelligence agencies. These governmental law enforcement agencies serve as an integral part of a countrys law system for ensuring safety and security for the citizens, which drives the adoption of public safety tools to gather real-time data insights with high accuracy and shorter time intervals. According to the Federal Bureau of Investigation (FBI), a total of 2,109.9 property crimes with around 379.4 violent crimes per 100,000 people was reported in 2019 within the U.S, showing the rising rate of crimes. Moreover, with the outbreak of COVID-19 pandemic, there is a significant surge in the rate of criminal activities like frauds, robbery, and others, which is further propelling the need for improving public safety, security & surveillance by law enforcement organizations over time. In May 2020, the Aurora Police Department had revealed the launch of new record management and analytics solution with Hexagons Safety & Infrastructure division, as a part of supporting law enforcement efforts in Illinois, U.S through providing deeper insights regarding public safety. In addition to this, in July 2020, the police department will be deploying HxGN OnCall Analytics, for ensuring deeper and detailed analysis of crime data, trends as well as continue the proactive policing strategy for combating crimes or identifying areas of concern for the country. Such factors are set to aid the market growth towards public safety and security solutions in the long run.
Public Safety and Security Market Segment Analysis- By Geography
APAC region is analysed to witness the fastest growth in the global public safety and security market with a CAGR of 7.8% during the forecast period 2021-2026. Factors such as rising rate of cybercrimes and terrorism attacks, concerns related to homeland security as well as growing need for safety, security or surveillance solutions owing to industrial safety have been attributing towards the market growth. Governmental initiatives towards improving public safety and security infrastructures along with spreading awareness for raising adoption of surveillance tools along with increasing adoption of AI technologies to monitor, track or identify suspicious fraudulent attacks overtime can also assist the market demands across the region. Moreover, the rapid rise in security breach incidents of multinational companies or enterprises owing to COVID-19 pandemic, stringent regulating norms of law enforcement or legal entities along with growth of illegal trafficking and financial scams or frauds related activities are further set to drive the market forward in the coming time. According to IBM, the average total cost of a data breach in India had accounted for Rs. 165 million in 2021, a comparative increase of over 17.85% from 2020. In August 2021, Indias financial crime agency, Enforcement Directorate agency had charged a penalty of around $1.35 billion to Flipkart, due to allegedly violation of foreign investment laws. Such factors show the growing regulatory compliance by the government authorities regarding security and surveillance, affecting its market demands in the long run.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=500551
Public Safety and Security Market Drivers
Rise in criminal activities or incidents like terror attacks, cyber threats and others drive the need for improving public safety and security
The rise in criminal activities or incidents like terror attacks, cyber threats and others drive the need for improving public safety and security standards, which act as one of the major factors boosting the market growth. Rapid rise in various criminal activities including terrorism, cybercrimes, counterfeiting, financial frauds and so on overtime have been contributing towards the need for implementation or integration of public safety, security or surveillance tools for conducting varied lawful interception applications. Occurrence of terror attacks poise an adverse impact on the citizens as well as government, causing homeland security, border or related threats, and so on. Adoption of public safety and security solutions by the governmental agencies or defence organizations help in mitigating such risks by continuous tracking or monitoring criminal interface data from time to time and causing required alerts owing to confirmation of crime events, which in turn help in aiding its market demands. According to Indian Government, about 1.16 million cyber security cases were reported in 2020, which was three times higher compared to 2019 reported cases. In September 2021, according to Asian News International, intelligence agencies have issued a country wide terror alert to the Indian police departments regarding safety as well as security of Jewish citizens. This terror alert showcases targeting of Israeli citizens or Jewish sites like Israeli embassy, Jewish Community Centre, Synagogues Chabad House and others, where the security personnel have been asked to stay vigilant ahead of Jewish holidays. Such rise in reported cyber-attacks along with terrorism related incidents or alerts can further raise the need for public safety and security tools in the coming time.
Integration of advanced technologies like artificial intelligence (AI), IoT, cloud and others towards enhancing security or surveillance standards drive the market forward
Integration of advanced technologies like artificial intelligence, IoT, cloud and others towards enhancing security or surveillance standards can also be considered as a major driver impacting the growth of public safety and security market. Expansion of advanced technologies like IoT, cloud and others, to drive automation across varied industries act as an integral part of lawful intercept operations. Incorporating AI based algorithms help in deriving real-time insights through facial recognition, biometrics and many more to improve crime mapping as well as forecasting by the law enforcement agencies. According to Cisco Internet Report, the share of machine-to-machine (M2M) connections will grow from 33% in 2018 to 50% by the year 2023, with around 14.7 billion M2M connections. These statistical data show the rise of connected data or IoT devices driving the need for advanced public safety, surveillance and interception solutions in the long run. In June 2021, CalypsoAI announced about the launch of an end-to-end AI security tool, VESPR to address challenges faced by national security customers. This development ensures deployment of a secured, explainable as well as compliant machine learning model for the defence and intelligence communities towards making mission-critical decisions, alongside making the systems capable of withstanding adversarial attacks. Such factors are set to boost the market forward in the coming time.
Public Safety and Security Market Challenges
Privacy concerns or vulnerabilities regarding hacking impeding public safety and security market growth
Privacy concerns or vulnerabilities regarding hacking act as one of the major challenges restraining the growth of public safety and security market. With advances towards data breaching incidents, spread of malicious software or malwares, hacking of confidential data or information regarding crime activities or records have eventually raised violation of privacy and undue surveillance issues from the public safety solutions. Various governments have banned the adoption of lawful interception tools as a part of providing nations security and implementing privacy violation barriers between lawful interception and governmental authorities and citizens. In addition, growing shift towards public safety and security software have also poised concerns regarding data exploitation, hacking or breach, software piracy with advances in cybercrimes overtime. Since public safety or security tools can give unauthorized access at times, creating privacy concerns for an individual, leading to data security threats or vulnerabilities. These factors can eventually slow down its adoption, creating an adverse impact on the market growth.
Public Safety and Security Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Public Safety and Security Market. The Public Safety and Security Market top 10 companies include:
Cisco Systems, Inc.
Honeywell International Inc.
Haystax Technology, Inc.
Motorola Solutions Inc.
In October 2020, Honeywell announced the launch of first set of tools, a cloud platform under the connected life safety services portfolio. This development was meant to help customers with remote access as well as management of fire safety systems.
In September 2020, Hexagon announced about the launch of an assistive artificial intelligence Technology, HxGN OnCall Dispatch smart advisor. This will enable public safety agencies in detecting as well as responding towards complex emergencies faster.
Public safety & security software is analyzed to grow with the highest CAGR during 2021-2026 owing to growing crime investigation complications, loss of data records or evidence and others.
APAC Public safety & security market is analyzed to grow with the highest CAGR during the forecast period, owing to rising cybercrime activities, terrorism, and so on.
Rise in criminal activities or incidents like terror attacks, cyber threats, and others as well as integration of advanced technologies like artificial intelligence (AI), IoT, cloud and others towards enhancing security or surveillance standards is analyzed to drive the market growth during the forecast period 2021-2026.
A. Smart Personal Safety & Security Device Market
B. Adaptive Security Software Market
For more Information and Communications Technology Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
Discussion about this post