Public Safety and Security Market Definition

Safety and security are believed to be the right of every human being, which needs to be ensured by governments across the world. Rising cases of terrorism, natural disasters, accidental, and human-made catastrophes led to the demand for public safety and security. Governments and large institutions responsible for the security of people are opting for public safety and security solutions. 

Public Safety and Security Market Scope Report

Global Public Safety and Security Market Highlights Over 2023 - 2033

The global public safety and security market is estimated to garner a revenue of USD 950.0 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 435.0 Billion in the year 2022. The growth of the market can be attributed to the rising awareness of safety and security. In the year 2019, nearly 775 Million surveillance cameras were installed across the globe.

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Public safety and security are critical for economic growth and public welfare. Its development will be possible only if the government accepts the infrastructure and technologies that allow intelligence agencies to collect, comprehend, evaluate, and identify real-world events. Moreover, the government is providing public safety and security services in order to ensure that the organizations, people, and infrastructure are secure and safe against dangers. Hence, increasing criminal activities are anticipated to surge the growth of the global public safety and security market. The rate of violent crime has increased to nearly 48.30 per 100,000 inhabitants in the United States by 2022.

Global Public Safety and Security Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Number of Security Breaches – There has been an increase in the number of security breaches in healthcare and other organizations that are anticipated to surge the growth of the global public safety and security market. More than 60 percent of the firms in the United States faced a data breach in the year 2022.

• Growing Adoption of IoT Devices– In the year 2021, there were more than 11 Billion active IoT devices

• Rising Smart City Missions– As per the Indian Brand Equity Foundation, the smart city mission in India will cover 100 cities that have been distributed among states/ Union Territories

• Surging Urban Population– As per the data released by the World Economic Forum, 80% of the world's population is anticipated to reside in urban areas by the end of 2050.

Challenges

• High Cost for the Installation of the Safety and Security System

• Lack of Proper Storage Infrastructure

• Scarcity of Trained Employees

The global public safety and security market is segmented and analyzed for demand and supply by application into surveillance & security, disaster management, emergency communication, and others. Out of these, the surveillance & security segment is anticipated to hold the largest share over the forecast period owing to the increasing security-related issues in various public places. In the year 2019, there were approximately 2165 commercial bank robberies in the United States.

Global Public Safety and Security Market Regional Synopsis

Regionally, the global public safety and security market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 on the back of the rising adoption of artificial intelligence, and the rapid growth of information and communication technology.

The market in the Asia-Pacific region is anticipated to have the fastest growth over the forecast period owing to rising criminal activities, illegitimate migration, and cross-border violence. The number of murder cases in India has increased from 29,193 in the year 2020 to 29,272 in the year 2021.

Market Segmentation

Our in-depth analysis of the global public safety and security market includes the following segments:

Key Companies Dominating the Global Public Safety and Security Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global public safety and security market that are included in our report are IBM Corporation, Huawei Technologies Co., Ltd., NEC Corporation, Cisco Systems, Inc., Siemens Aktiengesellschaft, Thales Group, Honeywell International Inc., Hexagon AB, Telefonaktiebolaget LM Ericsson, L3Harris Technologies, Inc., and others.

Global Public Safety and Security Market: Latest Developments

• June 2021: IBM Corporation announced to establishment cybersecurity center for US Federal Clients to support federal agencies addressing current and future cybersecurity threats.

• March 2022: NEC Corporation announced the completion of Vietnam’s national ID system modernization as a part of the government’s digital transformation plan.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client's requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.   

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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