Future Scope of Public Safety Market Poised to Achieve CAGR of 37.88% by 2023 | Global Key Players - GENERAL DYNAMICS, APTEAN, IBM, ERICSSON,AND KRATOS DEFENSE & SECURITY SOLUTIONS

Public Safety Market is expected to register a CAGR of 37.88% during the forecast period, (2018 - 2023). The scope of the report is limited to deployment mode including on-premise and cloud, software type including record management software, investigation management, location management solutions, criminal intelligence, crime analysis, and others, and vertical including law enforcement, medical, firefighting, transportation, and others. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of public safety in accordance with diverse industries and future prospect of the same.

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The government across the globe is considering safety to the public as their first priority, which is likely to be the key factor driving the market. The threat from terrorist attacks, natural disaster, and cybercriminals are increasing at a significant rate. Moreover, analytics generated from machines coupled with human-derived analysis provides robust data that have a positive impact on the public safety. This predicts any unforeseen attacks or pattern leading to unwanted action, which is expected to fuel the market growth during the forecast period. Furthermore, it can also be utilized to enhance defense operation and national security owing to which the demand for the system is projected to grow at a significant rate over the next six years.

Recent Developments
January 2018 - VOXX Advanced Solutions Corporation (VASC) expanded the product line of public safety solutions and products including mounted camera and live streaming surveillance camera. This is projected to fuel the company’s portfolio and increase revenue
June 2017 - Aptean Corporation acquired FDM Software, a leader in CAD and RMS to expand their enterprise software solutions and public safety solutions. This is expected to expand the company’s customer base and bring high amount of revenue

The major companies include –
CISCO SYSTEMS, GENERAL DYNAMICS, APTEAN CORPORATION, IBM, ERICSSON,AND KRATOS DEFENSE & SECURITY SOLUTIONS, amongst others

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Rising Criminal Activities
The growth in technological advancement and innovation is giving rise to anonymity, which is propelling the cybercrime, one of the major criminal activities. In addition, illegal human and drug trafficking is a major concern increasing at a noteworthy rate. As of 2017, approximately 20% of the victims of trafficking are children, however, in Africa, they account for the key share. This can be mitigated by using public safety system, which tracks the people’s activity, which is expected to propel the market growth during the forecast period.

Transportation to Exhibit the Highest Growth
The utilization of various mode of transportation including airways, railways, and seaways are rapidly increasing. With the growing usage, the number of fatal and minor accidents is also increasing leading to several casualties. Implementation of the public safety system to these modes of transportation is offering high-end analytics to understand the pattern and anticipate any further faults. As a result, the public safety market is expected to witness the highest growth in transportation industry during the forecast period.

North America to Have the Highest Market Share
The number of smart city projects in North America is increasing owing to encouragement from government across various cities and increasing investments. As of 2017, approximately 65% of the U.S. cities are investing in technology associated with smart cities whereas rest is exploring ways to implement the same. The rise in investment is expected to have a positive impact on the market growth.

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