Public Safety and Security Market Forecasts to 2028 – Global Analysis By Type (Hardware, Services), Software Type Crime Intelligence and Crime Analysis, Investigation Management, Locations Management Solutions), Deployment Mode Cloud, On- Premises) and By

Public Safety and Security Market Forecasts to 2028 – Global Analysis By Type (Hardware, Services), Software Type Crime Intelligence and Crime Analysis, Investigation Management, Locations Management Solutions), Deployment Mode Cloud, On- Premises) and By Geography

According to Stratistics MRC, the Global Public Safety and Security Market is accounted for $400.23 billion in 2021 and is expected to reach $901.52 billion by 2028 growing at a CAGR of 12.3% during the forecast period. Public safety and security is a service of the government by which it safeguards that its organizations, people, and institutions, are protected from threats and kept safe. Government bodies such as law enforcement, fire services, ambulance & emergency medical services, and police are playing a major role in public safety and security. Public safety and security are the crucial parameters that regulate the actual quality of life of the residents of a particular region and ensure their welfare and solace. The public safety and security solutions offer numerous benefits for their customers including secure mobility, cyber security, rapid application development, and accessibility.

Market Dynamics:

Driver:

Digital Revolution in Security Transformation

Growing digitization, connectivity, and data fuel digital transformation. This alteration happens across industries to generate improved operational efficiencies, new services, and improved customer satisfaction. It drastically changes how security organizations operate and increases public safety and security provision as digital transformation has digitized security operations due to a more networked and data-led approach. For instance, the development of 5G and public safety 4G LTE networks will effortlessly enable data flow from the public to control rooms and first responders. Thus, more information on the ground allows quick access to police databases, allowing quick and better decision-making.

Restraint:

Risk and Limited Budget

Although smart technologies deliver captivating advantages to law enforcement and other security departments, some challenges exist for which public entities must also be prepared for potential risks. For instance, mCyber Risks – If sensitive data gets leaked or is not properly secured, the citizen or the public entity might experience significant financial loss, reputational damage, and business disruption. Apart from this, limited budgets, aging or missing infrastructure, data storage and retention, and ongoing maintenance are considerations that must be weighed.

Opportunity:

Rise of Big Data Analytics

The pace of technological innovation is accelerating year over year. Connected devices generate enormous amounts of information that can provide actionable insights to protect critical infrastructure from attacks. Data analytics is the process of analyzing historical data to gain valuable insights. Big data analytics involves analyzing huge amounts of structured or unstructured data. Such data generated from various security devices are first cleaned and managed so that it supports pattern recognition and anomaly identification; this can help public safety organizations and security officers understand the suspect in a crime and easily prevent further crimes. Advanced big data analytics capabilities are now integrated with various CCTV surveillance systems to improve crime response times.

Threat:

Lack of Efficient Storage and Data Management Capacities

Public safety and law enforcement agencies incorporate various digital solutions, such as high-quality video surveillance, body-worn cameras, and in-car cameras to provide reliable evidence against criminals. However, while body-worn cameras provide various public safety benefits, they also create public safety challenges, such as data security.

Services segment is expected to be the largest during the forecast period

The 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. Service providers offer these components to end users as a combined package of solutions and associated services or individually. The public safety services sector constantly looks for new and better ways to protect cities, infrastructure, businesses, and citizens.

The Homeland Security segment is expected to have the highest CAGR during the forecast period

The homeland security segment dominated the market, owing to the increasing number of government initiatives to improve safety and security. For instance, the National Infrastructure Protection Plan (NIPP) in the U.S. is a formal directive issued by the U.S. Department of Homeland Security (DHS) to combine Critical Infrastructure and Key Resource (CIKR) protection efforts in the U.S. The NIPP outlines the government and private sector participation in protecting the CIKR assets and locations across 16 sectors. The implementation of NIPP is expected to drive the deployment of public safety and security solutions to manage risks.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to rising crime proportions; prompt urbanization, cross-border violence, and illegitimate migration are the prominent factors powering the growth of the Asia Pacific market. Moreover, the ever-growing threat landscape. India, Japan, and Singapore have updated or launched new national cybersecurity policies to deal with the increasingly sophisticated threats. Organizations in the Asia Pacific region are expected to spend large amounts of money to deal with cybersecurity breaches. The Asia Pacific region is witnessing a surge in smart city projects, creating a greater demand for public safety and security technologies such as surveillance systems, scanning and screening systems, and critical communication networks. The Indian government focuses on infrastructure development and enhancing the security systems at airports, ports, and refineries.

Region with highest CAGR:

North America is projected to have the highest CAGR, owing to recurrent government funds to progress the security infrastructure to confront and solve unlawful migration and violence. High government investment in improving the existing public safety and security infrastructure to tackle terrorism and illegal immigration is anticipated to drive market growth over the forecast period. North America is also home to several leading public safety and security solutions providers such as General Dynamics; Harris Corporation; and Cisco Systems, Inc.

Key players in the market:

Some of the key players profiled in the Public Safety and Security Market include Cisco Systems, General Dynamics, Harris, Huawei, IBM, NEC, Hexagon, MotoRoLA Solutions, Ericsson, ESRI, Elbit Systems Ltd, Kroll Inc.

Key developments:

In March 2021: Kroll acquired Redscan, a cyber-security services provider, to expand its Kroll Responder capabilities to support a broader array of on-premises and cloud telemetry sources.

In June 2021: Cisco acquired Kenna Security, Inc. to resolve security challenges with Kenna’s risk-based vulnerability management platform. Cisco would be integrating Kenna’s security risk-management technology into Cisco's Secure X platform.

In March 2021: Elbit Systems Ltd. signed a contract with Korea Aerospace Industries Ltd. (KAI) to enlarge backing in the field of Unmanned Aircraft Systems (UAS)..

Types Covered:
• Hardware
• Services
• Managed Services
• Professional Service

Software Types Covered:
• Crime Intelligence and Crime Analysis
• Investigation Management
• Locations Management Solutions
• Record Management Software

Deployment Modes Covered:
• Cloud
• On-Premises

Solutions Covered:
• Backup and Recovery System
• Biometric Security and Authentication System
• C2/C4ISR Networks
• Critical Communication Network
• Cybersecurity
• Emergency and Disaster Management
• Public Address and General Alarm
• Scanning and Screening System
• Surveillance System

End Users Covered:
• Homeland Security
• Manufacturing
• Emergency Services
• Other End User

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances