DUBLIN--(BUSINESS WIRE)--The "Global Public Safety and Security Market by Component, Solution (Critical Communication Network, Biometric & Authentication System, Surveillance System, Emergency & Disaster Management, Cyber Security), Service, Vertical and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Public Safety and Security market size is expected to grow from USD 433.6 billion in 2022 to USD 707.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.3% from 2022 to 2027.
The major factors fueling the Public Safety and Security market include rising instances of terrorist activities and security breaches, Increasing law enforcement requirements for public safety amid COVID-19 and Increasing investment in public safety measures for smart cities.
Services to grow at a higher CAGR during the forecast period
The public safety services sector constantly looks for new and better ways to protect cities, infrastructure, businesses, and citizens. An increase in the number of security breaches in healthcare institutions and other organizations during the COVID-19 pandemic has boosted the demand for public safety and security services. The public safety and security market has been segmented into managed services and professional services based on services. The managed services segment has been further segmented into Managed Security Services (MSS) and managed network services. The professional services segment has been segmented into design and consulting, installation and integration, support and maintenance, and training and education.
In services segment, professional services to have a higher market share during the forecast period
Professionals, specialists, and experts offer professional services to support businesses. Professional services comprise design and consulting, training and education, support and maintenance, and installation and integration. Professionals use the latest techniques, comprehensive strategies, and skills to fulfill the security requirements of an organization. They also offer customized implementation and risk assessment and assist with deploying public safety and security solutions using industry-defined best practices.
The study includes an in-depth competitive analysis of the key players in the Public Safety and Security market, with their company profiles, recent developments, and key market strategies.
Key Topics Covered:
Executive Summary
- Rising Terrorist Attacks and Their Economic Impact, 2014 - 2019
- Public Safety and Security Market Size and Growth, 2022-2027 (USD Million, Y-O-Y Growth)
- COVID-19 Impact on Vendor Revenue and Action Plan for Recovery
- The Market to Witness a Significant Growth During the Forecast Period
- North America to Account for the Highest Market Share in 2022
- Fastest-Growing Segments of the Market
Premium Insights
- Brief Overview of the Public Safety and Security Market - The Increasing Instances of Terror Cases and Thefts to Drive the Growth of the Market
- Market, by Solutions, 2022 - Critical Communication Network Segment to Hold the Largest Market Share During the Forecast Period
- Market, by Verticals, 2022 - Homeland Security Segment to Hold the Largest Market Size During the Forecast Period
- Market Investment Scenario - APAC to Emerge as the Best Market for Investments in the Next Five Years
Market Overview and Industry Trends
-
Drivers
- Rising Instances of Terrorist Activities and Security Breaches
- Increasing Law Enforcement Requirements for Public Safety Amid COVID-19
- Need for Security Training and Awareness
- Increasing Investment in Public Safety Measures for Smart Cities
- Growing Trend of IoT in Public Safety
-
Restraints
- High Installation and Maintenance Costs for Public Safety and Security Systems
- Violation of Privacy
-
Opportunities
- Emergence of Big Data Analytics in Public Safety and Security
- Adoption of Cloud Computing Technologies in the Public Safety Industry
- Integration of Technologies, Such as Ai, Ml, and Analytics, in Border and Public Safety
- Convergence of Multiple Public Safety and Security Systems
-
Challenges
- Lack of Efficient Storage and Data Management Capacities
- Integration of Logical and Physical Components of Security Systems
- Device Vulnerability and Chances of Systems Being Hacked
-
Use Cases
- Cisco Helped the City of San Luis Potosi to Improve the Physical Security of Citizens
- Honeywell Intelligently Secured and Transformed Pristina International Airport
- Government of India Uses NEC Biometric Identification System for Over One Billion People
- Secom Eliminated the Need for Manned Guarding at Speedy Hire
- Dublin Airport Implemented ADT's Video Management System
- Trends and Disruptions Impacting Customers
Companies Mentioned
- 3Xlogic
- AGT International
- Alcatel-Lucent Enterprise
- Atos
- Bae Systems
- Briefcam
- Cisco
- Cityshob
- Elbit Systems
- Ericsson
- ESRI
- Fotokite
- General Dynamics
- Haystax Technology
- Hexagon Ab
- Honeywell
- Huawei
- IBM
- Idemia
- L3Harris Technologies
- Motorola Solutions
- NEC
- Nice
- Onsolve
- Openpath
- Rave Mobile Safety
- Sayvu
- Scadafence
- Siemens
- Smartcone Technologies
- Teltronic
- Thales
- Tvilight
- Tyco (Johnson Controls)
- Verint Systems
For more information about this report visit https://www.researchandmarkets.com/r/y9x5my
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
