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Public Safety and Security Market may reach to $516.5 billion by 2025

12-16-2021 01:51 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Public Safety and Security Market

Public Safety and Security Market

According to a new market research report "Public safety and security Market by Component, Solution (Critical Communication Network, Biometric & Authentication System, Surveillance System, Emergency & Disaster Management, Cyber Security), Service, Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the market size projected to grow from USD 365.0 billion in 2020 to USD 516.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period. The rising number of terror attacks and increasing investment in public safety measures for smart cities to drive the market growth.

Browse in-depth TOC on "Public safety and security Market”
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By solution, the emergency and disaster management segment to register the highest growth rate during the forecast period

Emergency and disaster management solutions are used by government and private organizations to rescue the public from man-made or natural disasters, such as hurricanes, typhoons, earthquakes, cyclones, or tsunamis. E Such systems are web-based, easier to manage, and offer quick responses, disaster recovery solutions, and simulation. systems such as traffic simulation, hazard propagation, and incident evaluation. Therefore, detection service segment holds the highest growth rate during the forecast period.

Based on vertical, the transportation system to grow at the highest CAGR during the forecast Period

The transportation systems vertical includes airports, seaports, railways, and others (traffic management, parking management, and subways and tunnels management). Urban transportation plays a vital economic and social role, enabling large numbers of people to travel safely and quickly at very cheap rates. Road, rail, and metro networks are physically integrated with each other and the other modes of transportation. Concerns such as terrorist attacks, natural disasters, and accidents have increased the security challenges in terms of threat response and prevention. Public safety and security solutions for the transportation systems vertical can help prevent unnecessary consequences Therefore, the transportation systems register the highest growth rate during the forecast period.

North America to hold the largest market share during the forecast period

North America has the presence of several prominent market players delivering public safety and security solutions to all end users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the growth of the Public safety and security market. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for the deployment of Public safety and security and services. The major vendors such as Cisco Systems, Esri, General Dynamics, Harris, Haystax Technology, IBM, Motorola Solutions, Rave Mobile Safety, and Verint Systems are headquartered in the US.

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Market Players

Major vendors offering Public safety and security software include AGT International (Switzerland), Alcatel-Lucent Enterprise (France), Atos (France), BAE Systems (UK), Cisco Systems (US), Elbit Systems (Israel), Ericsson (Sweden), Esri (US), General Dynamics (US), Harris (US), Haystax Technology (US), Hexagon (Sweden), Honeywell (France), Huawei (China), IBM (US), IDEMIA (France), Motorola Solutions (US), NEC (Japan), NICE (Israel), Rave Mobile Safety (US), Siemens (Germany), Teltronic (Spain), Thales Group (France), Tyco (Johnson Controls) (Ireland), and Verint Systems (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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