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AI For Public Security And Safety Market Outlook 2024: Exclusive Report By The Business Research Company
AI For Public Security And Safety Market
The Business Research Company offers in-depth market insights through AI For Public Security And Safety Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The AI for public security and safety market size has grown exponentially in recent years. It will grow from $12.62 billion in 2023 to $16.45 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth in the historic period can be attributed to increased data availability, integration of video analytics, rise in concerns about terrorism, urbanization and smart city initiatives, and increased cybersecurity threats.The AI for public security and safety market size is expected to see exponential growth in the next few years. It will grow to $46.52 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to expanding use of drones and robotics, increasing focus on predictive policing, integration of ai in emergency communication systems, global efforts against cybersecurity threats, incorporation of explainable AI (XAI). Major trends in the forecast period include ethical AI and responsible deployment, AI-powered virtual assistants for emergency response, customized ai solutions for smart cities, integration of ai in wearable devices, and interoperability of AI systems.
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Market Segmentation:
The ai for public security and safety market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Model: On- Premises, Cloud - Based
3) By Application: Preventative Policing, Criminal Investigation, Combating Terrorism, Emergence Response , Disaster Management, Other Applications
4) By End User: Law Enforcement Agencies, Federal Intelligence And Security, Other End Users
Major Driver - Mitigating Escalating Security Threats For Enhanced Public Security And Safety
Increasing security threats are expected to propel the growth of AI in the public security and safety market going forward. Security threats refer to potential dangers or risks that can compromise the confidentiality, integrity, or availability of information, systems, and resources. Security threats use AI for public security and safety to rapidly analyze vast amounts of data, identify patterns, and enhance the efficiency of surveillance, threat detection, and response mechanisms, ultimately augmenting the capabilities of security systems to adapt to evolving threats and protect communities. For instance, in January 2024, according to AAG IT Services, a UK-based information technology and services company that provides cloud technology solutions, global cyberattacks increased by 38% in 2022 compared to 2021, and in 2022, data breaches cost businesses an average of $4.35 million, up from $4.24 million in 2021. Therefore, increasing security threats are driving the growth of AI in the public security and safety market.
Competitive Landscape:
Major companies operating in the ai for public security and safety market report are Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., IBM Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., Telefonaktiebolaget LM Ericsson, NVIDIA Corporation, BAE Systems plc, Thales SA, Atos SE, Motorola Solutions Inc., Hexagon AB, Elbit Systems Ltd., Tata Communications Limited, Milestone Systems A/S, Palantir Technologies Inc., Axis Communication AB, Ainsworth Game Technology Limited, Alcatel Lucent Enterprise SA, Verient Systems Inc., NEC Corporation, Veritone Inc., Genetec Inc., Intelli-Vision Technologies Corporation, Voyager Labs Ltd., Quanergy Systems Inc., XenonStack Pvt. Ltd., Agent Video Intelligence Ltd.
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Top Trend - C2A Security's GenAI Integration Unleashes Innovation In EVSec Platform
Major companies operating in the AI for public security and safety market are developing innovative products by integrating stacks purpose-built for AI-powered applications, such as GenAI in EVSec, to transform product and system development for enhanced security. Generative AI (GenAI) refers to the use of artificial intelligence to create new content, such as text, images, or code, based on existing data. For instance, in August 2023, C2A Security, an Israel-based security company, launched its Generative AI Integration product. GenAI in EVSec improves threat detection and training capabilities and enables adaptive responses, fostering more efficient and effective security measures for public security and safety. It also allows developers, security engineers, and product leaders to optimize production processes, detect inefficiencies, automate security controls, and prioritize responses to vulnerabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. AI For Public Security And Safety Market Characteristics
3. AI For Public Security And Safety Market Trends And Strategies
4. AI For Public Security And Safety Market - Macro Economic Scenario
5. AI For Public Security And Safety Market Size And Growth
…..
27. AI For Public Security And Safety Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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