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Public Safety and Security Market
The growing digitalization globally is a prominent factor driving the public safety and security market.
The possibility for cyberattacks or data violation surges as more systems and gadgets are becoming interlinked through the Internet of Things (IoT).” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, November 5, 2024 /EINPresswire / -- The public safety and security market forecast for 2032 is a specialized study of the
industry with a specific concentration on the global market trend analysis.
The recently published Public Safety and Security Market study report by Polaris Market Research reveals that the global market was USD 466.30 billion in 2023, with a CAGR of 10.7% projected from 2024 to 2032. The global market is expected to offer an absolute opportunity of USD 1,160.32 billion by 2032.
What is Public Safety and Security?
Public safety and security are rudimentary to the comfort and standard of life of persons and circles. It offers an ambiance where people can reside, operate, and pursue their desires with a perception of safety and faith. When persons perceive security in their localities and public spheres, they are more expected to participate in social and economic ventures, causing group advancement and affluence.
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Sustaining public safety needs the collaboration and application of several elements. Law execution agencies involving police departments play an important part in crime prohibition, inspection, and sustaining order. Public security is frequently handled by governmental organizations at several levels, such as local, regional, and national. Ascertaining that people are protected against menaces and may cause destruction to property is impacting the public safety and security market growth favorably.
Who Makes Public Safety and Security?
Cisco Systems, Inc., Honeywell International Inc., Motorola Solutions, Inc., IBM, Siemens, Hexagon AB, Thales, and Huawei Technologies Co., Ltd. are some of the leading players in the public safety and security market. Prominent market contenders are funding massively in research and development in order to augment their offerings which will assist the market to grow even more.
Some of the latest developments in the market are:
.In September 2024, IDEMIA Public Security North America, the prominent donor of appropriate and dependent biometric-based solutions, instigated its contemporary commodity ID2Issuance, a cloud-native credential issuance and management system for motor vehicle firms to speedily verify contender's photos and signatures or carry out point to multipoint facial and fingerprint biometric matching.
.In April 2024, OnSolve, a crucial global event management donor, assists firms in diminishing tangible menaces and staying agile in the face of a crisis.
Major Companies in Public Safety and Security Market
.Cisco Systems, Inc.
.Honeywell International Inc.
.Motorola Solutions, Inc.
.IBM
.Siemens
.Hexagon AB
.Thales
.Huawei Technologies Co., Ltd.
.IDEMIA
.General Dynamics Corporation
.L3Harris Technologies, Inc.
.BAE Systems
.Esri
.SAAB AB
.Teltronic S.A
.Barrier1 Systems, LLC
.OnSolve
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What's Driving Market Forward?
.Technological Progressions: The market is further pushed by growing progressions in technology. Inventions in video monitoring, such as high-definition cameras and facial identification systems, sanction real-time observation and recognition of accused, discouraging criminal activity.
.Growing Urbanization: According to a report proclaimed by the World Bank, 56% of people reside in cities, and the aggregate is anticipated to reach 68% by 2050. Growing population compactness in urban areas frequently causes escalated crime rates. This, in turn, is having a favorable impact on public safety and security market sales.
.Growing Cases of Cyber Extortion: The growing cases of cyber extortion are pushing the market. Firms and governments are growingly classifying employees and public tutoring to assist in identifying phishing endeavors and other strategies engaged by cybercriminals.
Which Region Leads Market Growth?
.North America: North America accounted for the largest public safety and security market share. The region's robust growth is primarily due to notable funding by federal, state, and local governments in progressive security frameworks and technologies.
.Asia Pacific: Asia Pacific is anticipated to witness significant growth from 2024 to 2032. This can be attributed to speedy urbanization and growing concentration on public safety enterprises in nations such as China and India.
How Is Market Segmentation Done?
By Solution Outlook:
.Critical Communication Network
.C2/C4isr System
.Biometric Security and Authentication System
.Surveillance System
.Scanning and Screening System
.Emergency and Disaster Management
.Cyber-security
.Public Address and General Alarm
.Backup and Recovery System
By Service Outlook:
.Managed Services
oManaged Security Services
oManaged Network Services
.Professional Services
oDesign and Consulting
oInstallation and Integration
oSupport and Maintenance
oTraining and Education
By Application Outlook:
.Homeland Security
.Law Enforcement and Intelligent Agencies
.Border Control
.Emergency Services
.Transportation Systems
By Deployment Outlook:
.On-premises
.Cloud
By Software Type Outlook:
.Record Management Software
.Investigation Management
.Locations Management
.Crime Intelligence and Crime Analysis
By Region Outlook:
.North America (US, Canada)
.Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
.Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
.Latin America (Brazil, Mexico, Argentina)
.Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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FAQs:
How much is the public safety and security market worth?
The market size was valued at USD 466.30 billion in 2023 and is projected to grow to USD 1,160.32 billion by 2032.
What is the growth rate of the public safety and security market?
The market is projected to register a CAGR of 10.7% from 2024 to 2032.
Which region held the largest market share?
North America held the largest share of the global market in 2023.
Which deployment type is expected to grow with a significant CAGR in the market?
The cloud segment is projected for significant growth in the market.
Browse PMR's Public Safety and Security Market Report Coverage from Different Publications:
The public safety and security industry is expected to reach USD 1,160.32 billion by 2032, exhibiting a CAGR of 10.7% from 2024 to 2032.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+ +1 929-297-9727
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