IoT In Public Safety Market Report 2024: Size, Share, Growth, Trends, Analysis, Forecast, Outlook

The iot in public safety market size has grown rapidly in recent years. It will grow from $3.07 billion in 2023 to $3.6 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to growing need for improved emergency response, expansion of smart cities initiatives, integration of iot in video surveillance, adoption of wearable devices for first responders, emphasis on predictive policing and crime prevention.

The iot in public safety market size is expected to see rapid growth in the next few years. It will grow to $6.85 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to growth in iot-enabled traffic management and control, increased adoption of drones for surveillance and response, expansion of iot in disaster management, emphasis on health and safety monitoring in public spaces. Major trends in the forecast period include integration of artificial intelligence in iot for public safety, development of iot-based emergency communication systems, use of iot for environmental monitoring and air quality, integration of 5g networks for enhanced connectivity, collaboration between public and private sectors for iot implementation.

Market Overview -
IoT in public safety is the way to ensure public safety with computer vision employed in conjunction with cameras, microphones, and sensors to collect information about traffic, accidents, and crime and to enhance urban mobility by analysing traffic conditions. It is used to record and examine traffic patterns, identify risks, and issue warnings about impending accidents.

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Rising Criminal Activities Spark Growing Demand For IOT In Public Safety
The increasing number of criminal activities is driving the demand for the IoT in the public safety market going forward. Criminal activities refer to any type of behaviour that manifests physically or any type of mental desire that contributes to the commission of the crime. IoT aids in estimating the occurrence and incidence of crimes, and its data-driven methodology is crucial in anticipating crime. For instance, in September 2023, according to The Bureau of Justice Statistics (BJS), a US-based government agency, reported that the violent victimization rate increased from 16.5 victimizations per 1,000 persons in 2021 to 23.5 per 1,000 in 2022. Motor vehicle theft victimization increased from a rate of 4.3 victimizations per 1,000 households in 2021 to 5.5 per 1,000 in 2022. Therefore, the increasing number of criminal activities will drive the IoT in the public safety market growth.

Competitive Landscape -
Major companies operating in the iot in public safety market report are International Business Machines Corporation, Hitachi Vantara Corporation, NEC Corporation, Microsoft Corporation, Cisco Systems Inc., Sierra Wireless, Telit Communications Ltd., Intrado Life & Safety Inc., Nokia Networks, ThroughTek Co. Ltd., Kontron d. o. o., Intellivision, Star Controls Engineering Co. Ltd., Huawei Technologies Co. Ltd., Securens Systems Pvt. Ltd., Intel Corporation, Kova Group Ltd., Esri Inc., Tibbo Systems, Endeavour Technology Ltd., X-Systems Inc., Yardarm Technologies Inc., CityShob Software LTD., Aeris Communications India Pvt. Ltd., Caverion Corporation, Dallmeier Electronic GmbH & Co., Digital Barriers, Elbit Systems Ltd., Telefonaktiebolaget LM Ericsson, Genetec Inc., Honeywell International Inc.

Growing Adoption Of AI And Machine Learning In IOT Public Safety Solutions
Increasing adoption of machine learning (ML) And AI-based public safety solutions is a key trend gaining popularity in the IoT in the public safety market. ML and AI-based public safety solutions are employed to improve public safety by utilising the best AI practises and techniques, enabling AI systems to improve public safety, and utilising ML and deep neural networks for more accurate decision-making and prediction. Major players in the IoT in the public safety sector are focused on increasing the adoption of ML And AI-based public safety solutions to sustain their marketplace. For instance, in March 2022, Seeed Studio, a China-based company engaged in the development of IoT hardware, launched AI and IoT solutions, including sensors, as a service for full digitalization purposes as well as EdgeAI for the real world. They can always-on infer using vision and sound thanks to the ultra-low-power machine learning that powers the SenseCAP sensors.Seeed introduced the 2 series of Edge Computing devices powered by Nvidia Jetson to make data gathering and inference happen in real-time, enabling more AI-based solutions to be used in the real world.

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Key Segments -
The iot in public safety market covered in this report is segmented -
1) By Type: Surveillance Systems, Incident Management and Response, Disaster Management, Security Systems, Other Types
2) By Component: Software, Hardware, Services
3) By End User: Government and Public Sector, Transportation, Healthcare, Retail, Education, Manufacturing, Other End User

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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