Public Safety Software Market is set to race ahead at close to 30% CAGR through 2031- States Fact.MR
Despite COVID-19 putting the brakes on manufacturing processes and several end-use sectors such as courts, in 2020, risks from natural disasters and terrorist attacks are creating new challenges for manufacturers.
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The new edition of the public safety software market study by Fact.MR reassesses previous findings, updating forecasts after consider the COVID-19 pandemic impact.
According to the study, rising demand from municipal police departments, law enforcement agencies, and courts will be the major driving factor for public safety software sales over the coming years, with computer-aided dispatch solutions, jail management solutions, and incident management solutions witnessing a spike in demand.
Key Takeaways from Study
The global public safety software market to surge at close to 30% CAGR through 2031
Computer-aided dispatch solutions remain the top-selling software
Law enforcement agencies to emerge as key end user
Cloud-based deployment to account for increase in sales
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The United States to lead in the world’s largest public safety software industry - North America
China, followed by India, to hold the major share of the fastest-growing APEJ (Asia Pacific Except Japan) market
Germany to lead in the Europe public safety software space
The United Kingdom, France, Canada, Japan, and Italy to remain in the limelight
“With increase in cyber risks and threats, various public safety software solutions such as computer-aided dispatch solutions, record management solutions, and mobile police software solutions are gaining rapid traction. Adoption of stricter policies by law enforcement agencies, prosecutors, and other key end users is projected to surge adoption,” says a Fact.MR analyst.
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Rise in Cyber Risks and Attacks Boosting Market Growth
With rise in security threats, adoption of public safety software by diverse end-use sectors such as district attorneys, municipal police departments, and courts has become imperative.
In March 2018, Europol, the European Union’s agency for law enforcement cooperation, announced the arrest of a suspected leader of a cybercrime ring that targeted over 100 financial institutions in more than 40 countries, resulting in over 1 billion Euros in losses.
The FBI has taken its ‘Cyber Strategy’ with a goal to change the behavior of individuals and nation-states who believe they can compromise U.S. networks, steal financial and intellectual property, and put critical infrastructure at risk, without facing risk themselves.
Such initiatives will positively impact the sales of public safety software over the coming years.
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Who is Winning in this Space?
With the competition getting stronger, key players in the global public safety software market is adopting strategic approaches along with launching broader range of products in order to sustain their positions. For instance,
Spillman Technology, Inc. launched its new range of public safety software solutions such as Spillman Computer-Aided Dispatch, Spillman Records Management, and others, during the last 5 years.
DF Labs SPA launched its new range of products such as IncMan SOAR and others, a couple of years back.
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