In 2022, the public safety and security market size was around US$ 433,602.4 million. The Public Safety and Security Market’s main drivers are an increase in terrorist attacks and security measures, the need for security education and awareness, and tighter COVID-19 law enforcement standards for community security. The market for public safety and security solutions is anticipated to reach US$ 1,063,396.1 Million by the end of 2032, expanding at a strong CAGR of 9.4% between 2022 and 2032.
It is usually conceived and believed to be a government responsibility.
Most states and countries have departments for public safety & security. The primary goal of such department is prevention and protection of the public from dangers affecting safety such as crimes, revolt, political turmoil, natural and man -made catastrophic.
In most of the cases public safety & security division comprises of individuals from other organizations including police, emergency medical services, fire force etc.
But gradually the term public safety & security has evolved, apart from the conventional security and safety measures the term has widened and now with help of science and technology public safety & security includes state of the art technology, IT systems and software etc.
With rise in safety thwarting issues, people are moving towards adopting safety and security measures and considering this trend it can be anticipated that market will exhibit a healthy CAGR over the forecast period.
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Public safety & security Market: Drivers and Restraints
If we observe the recent commotion across globe from Aleppo to U.S. campus shootings, it is evident that public safety & security is a grim issue which need to be taken up with utmost issues. Public safety & security issues are not only limited to land even cybercrimes are on rise with leaps and bounds.
Social media monitoring, installation of thermal sensor cameras, deployment of cameras on traffic signals and in critical zones for live monitoring, up-gradation of security systems in banks and ATMs, installation of digital RFID door lock system are few of those equipment and technology through which public safety & security has been improved.
And constant innovations and research activities are on rise which can contribute towards public safety & security.
According to a recent article by Homeland Security of U.S. it is about to spend approximately around US$ 81 Bn by 2021 in public safety & security.
Aforementioned factors have equal potential to individually drive the public safety & security market.
Public safety & security is a responsibility which one can’t shed off and over the time it has multiplied in every aspect.
This sole reason substantiate the reason that there is least of any restraint for the growth of public safety & security market unless human being stop existing on this planet.
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Public safety & security Market: Regional Outlook
Geographically, the Public safety & security market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
North America is the market leader in terms of value in the public safety & security market management owing to the strong economy and capability and consciousness to improve public safety & security.
Followed by Western Europe and Eastern Europe which has similar trend alike North America. In APEJ region countries like India, China are too not lagging in public safety & security market.
Initiatives and plans are being introduced and executed for improving public safety & security.
In MEA region, public safety & security has been growing constantly due to rise in spending in improving city life and understanding importance of public safety & security.
Latin America is in nascent stage in public safety & security market. But government has been introducing plans and adopting measures for public safety & security.
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Public safety & security: Key Players
The key players in the Public safety & security market are
- Motorola Solutions, Inc
- Hexagon AB
- Paessler AG
- NORTHROP GRUMMAN CORPORATION
Public safety & security Market: Segmentation
The Public safety & security market is segmented as follows:
Public safety & security Market, by solution
- Critical Communication Network
- 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
Public safety & security Market, by end user
- Homeland Security
- Emergency Services
Public safety & security Market, by services
- Professional Services
- Managed Services
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