Public Safety and Security Market to Reach $461.8 Billion by 2030

Meticulous Research® Reveals Insights on the Global Public Safety and Security Market

Report Forecasts Market Valuation of $461.8 Billion by 2030

[City, Date] - Meticulous Research®, a renowned global market research company, announces the release of its latest research report titled 'Public Safety and Security Market by Offering, Technology, Application, End Use, and Geography - Global Forecast to 2030.' This comprehensive study delves into the evolving landscape of the global public safety and security market, offering invaluable insights for industry stakeholders.

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Market Overview:

According to the findings of the report, the global public safety and security market is poised to witness remarkable growth, projected to reach $461.8 billion by 2030 from an estimated $217.9 billion in 2023. This growth, reflecting a CAGR of 11.3% during the forecast period (2023-2030), is fueled by several factors including the increasing utilization of AI, ML, and analytics technologies, rising awareness and initiatives for public safety, and governmental focus on managing the needs of the burgeoning urban population. However, challenges such as significant initial investments and complexities in implementing advanced systems may impede market growth.

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Segmentation Insights:

The report segments the global public safety and security market based on offering, technology, application, end use, and geography. Notably, safety services are expected to dominate the market, driven by the increasing demand for specialized safety solutions. Moreover, the Internet of Things (IoT) is projected to command a significant share in the technology segment, owing to the rising demand for real-time data insights.

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Geographic Analysis:

Geographically, North America is anticipated to lead the global market, driven by the region's adoption of digital technology and data to enhance decision-making and promote citizen safety. However, Europe is poised to exhibit the highest growth during the forecast period.

Key Players:

Leading players in the global public safety and security market include Hexagon AB, Fujitsu Ltd., Robert Bosch GmbH, Cisco Systems, Inc., and Siemens AG, among others.

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This release was published on openPR.