Public Safety Solution For Smart City Market 2018 Global Industry Share, Size, Key Players, Trends, Competitive And Regional Forecast To 2022

Market Highlights:

Public security is a growing problem for cities worldwide, therefore cities are increasingly using intelligent technology to connect public and private stakeholders with the goal of making cities smarter, safer and more sustainable. Integration of public safety systems with third-party, private-entity camera systems, encourages private and public entities to join forces to fight crime. Public safety solutions find application in public transportation security, critical infrastructure security, medical emergency services, and disaster management among others. The current rate of urbanization is favourable for the market with new growth opportunities which is likely to arise in the near future.

According to MRFR, global public safety solution for smart city market is expected to reach USD 295.98 billion by 2023, at a CAGR of 10.97% during the forecast period. Major factor driving the public safety solution for smart city market is growing adoption of cloud and Internet of Things (IoT). Moreover, growing demand of residents for clean and safe environment, and rising criminal activities are fuelling the growth of this market. However, high installation and maintenance costs for public safety and security systems is restraining the growth of this market. Public safety solutions find application in public transportation security, critical infrastructure security, medical emergency services, and disaster management among others.

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Major Key Players:

• Cisco Systems, Inc. (U.S.),
• NEC Corporation (Japan),
• Thales Corporation (France),
• International Business Machines Corporation (U.S.),
• Honeywell International Inc. (U.S.),
• Huawei Technologies (China),
• Northrop German Corporation (U.S.),
• Alcatel-Lucent (France),
• Harris Corporation (U.S.),
• Motorola Solutions Inc. (U.S.).

According to MRFR, The global Public Safety Solution For Smart City Market is expected to grow approximately at USD 336 Billion by 2022, approx.11% of CAGR between 2016 and 2022.

Industry News
July 18, Bucharest mayor signs contract with Deloitte for drafting Smart City strategy
Bucharest mayor Gabriela Firea signed a contract with Deloitte for drafting the Romanian capital’s Smart City strategy. Deloitte wanted to analyze the situation in Bucharest and find the main problems in these areas to come up with a list of priority projects that need to be implemented to fix the problems.

July 18, DimOnOff teams with Microsoft CityNext
Smart city solutions provider, DimOnOff, partnered with Microsoft’s CityNext to enable its clients to utilize Microsoft’s Azure cloud platform and partner ecosystem. This partnership is expected to build intelligent solutions that would allow cities to become connected societies through modernizing its infrastructure, optimizing city operations and improving sustainability.

July 18, Oman signs a MoU with South Korea on smart cities
The Sultanate of Oman and the Republic of Korea (ROK) signed a memorandum of understanding (MoU) to establish futuristic smart cities in the sultanate. MoU aimed at coming up with a study on the importance of factors, projects, and investment areas in the smart cities sector in the Special Economic Zone in Duqm (SEZD).

Segmentation

The global public safety solution for smart city market is segmented on the basis of solution, service, application, and region. By solution, the market is segmented into the critical communication network, biometric security and authentication system, emergency and disaster management, backup & recovery system, public address & general alarm and surveillance systems. the critical communication network segment accounts for the largest share of the total market due to its extensive use in control mission-critical field communications traffic. The strong need for reliable connectivity between first responders and various agencies for seamless collaboration is driving the segment's growth. However, the surveillance segment is expected to grow at the highest CAGR of 27.5% during the forecast period due to the innovation in live streaming videos and camera surveillance.

By services, the market is segmented into professional service and managed service. Presently, the professional services segment dominates the market with a majority share due to the increasing demand for IoT which has led to the enhancement of the segment. Use of professional services in smart cities for intelligent lighting control, wireless positive train control, intelligent bus route monitoring and other solutions make it vital to the growth of the global market. Meanwhile, the managed services segment is expected to grow at the highest CAGR of 26.3% during the forecast period.

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Intended Audience

• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• Global infrastructure suppliers
• Communications component providers
• Smart grid and energy management companies
• Big data, analytics, and information processing companies
• Telecom Service Providers.

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