Global AI For Public Security And Safety Market - By Size, Share Analysis, Growth Trends And Forecasts 2024-2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the AI For Public Security And Safety Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The AI for public security and safety market size has grown exponentially in recent years. It will grow from $12.62 billion in 2023 to $16.45 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth in the historic period can be attributed to increased data availability, integration of video analytics, rise in concerns about terrorism, urbanization and smart city initiatives, and increased cybersecurity threats.

The AI for public security and safety market size is expected to see exponential growth in the next few years. It will grow to $46.52 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to expanding use of drones and robotics, increasing focus on predictive policing, integration of ai in emergency communication systems, global efforts against cybersecurity threats, incorporation of explainable AI (XAI). Major trends in the forecast period include ethical AI and responsible deployment, AI-powered virtual assistants for emergency response, customized ai solutions for smart cities, integration of ai in wearable devices, and interoperability of AI systems.

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Key Market Players:

Major companies operating in the ai for public security and safety market report are Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., IBM Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., Telefonaktiebolaget LM Ericsson, NVIDIA Corporation, BAE Systems plc, Thales SA, Atos SE, Motorola Solutions Inc., Hexagon AB, Elbit Systems Ltd., Tata Communications Limited, Milestone Systems A/S, Palantir Technologies Inc., Axis Communication AB, Ainsworth Game Technology Limited, Alcatel Lucent Enterprise SA, Verient Systems Inc., NEC Corporation, Veritone Inc., Genetec Inc., Intelli-Vision Technologies Corporation, Voyager Labs Ltd., Quanergy Systems Inc., XenonStack Pvt. Ltd., Agent Video Intelligence Ltd.

Market Drivers:

Increasing security threats are expected to propel the growth of AI in the public security and safety market going forward. Security threats refer to potential dangers or risks that can compromise the confidentiality, integrity, or availability of information, systems, and resources. Security threats use AI for public security and safety to rapidly analyze vast amounts of data, identify patterns, and enhance the efficiency of surveillance, threat detection, and response mechanisms, ultimately augmenting the capabilities of security systems to adapt to evolving threats and protect communities. For instance, in January 2024, according to AAG IT Services, a UK-based information technology and services company that provides cloud technology solutions, global cyberattacks increased by 38% in 2022 compared to 2021, and in 2022, data breaches cost businesses an average of $4.35 million, up from $4.24 million in 2021. Therefore, increasing security threats are driving the growth of AI in the public security and safety market.

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The ai for public security and safety market covered in this report is segmented -

1) By Component: Solution, Services
2) By Deployment Model: On- Premises, Cloud - Based
3) By Application: Preventative Policing, Criminal Investigation, Combating Terrorism, Emergence Response , Disaster Management, Other Applications
4) By End User: Law Enforcement Agencies, Federal Intelligence And Security, Other End Users

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