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Public Safety And Security Market Expansion Outlook: $1137.04 Billion in 2029
Public Safety And Security Market
What Is the Projected CAGR for the Public Safety And Security Market from 2024 to 2025?
The size of the public safety and security market has expanded swiftly over the past few years. The projections for growth show an increase from $616.61 billion in 2024 to $690.05 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.9%. The historical growth can be linked to factors such as the effects of natural disasters, the rise of terrorism and threats, investments in public safety, the implementation of community policing initiatives, and changes in crime trends.
What are the Expected Market Size and CAGR for Public Safety And Security by 2029?
The size of the public safety and security market is projected to experience swift expansion in the upcoming years. The market is anticipated to reach a value of $1137.04 billion in 2029, with a compound annual growth rate (CAGR) of 13.3%. This increase during the forecast period can be linked to factors like resilience planning, the development of integrated command centers, the implementation of remote monitoring solutions, data privacy solutions, and the use of AI-powered analytics. Noteworthy trends during the forecast period incorporate the integration of AI and machine learning, the uptake of the internet of things (IoT), the utilization of biometric authentication, the instigation of cybersecurity measures, and the introduction of intelligent surveillance systems.
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Which Factors Are Driving the Global Public Safety And Security Market Expansion?
The escalation in occurrences of transnational and regional instability is predicted to catalyze the growth of the public safety and security market. This instability involves political turmoil in countries in proximity to each other. The function of public safety and security is to shield both the population and infrastructure from threats and hazards on a national and international level. For example, the U.S. Customs and Border Protection, a government entity based in the US, recorded in September 2024 that nationwide encounters had notably increased to 3,201,144 in 2023 from 2,766,582 in 2022. This demonstrates a considerable growth in activity compared to the previous year. Thus, the mounting transnational and regional instability is projected to fuel the development of the public safety and security market.
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Which Segment Currently Holds the Largest Share of the Public Safety And Security Market?
The public safety and security market covered in this report is segmented -
1) By Component: Services, Solutions
2) By Vertical: Homeland Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, Other Verticals
Subsegment: Critical Communication Network, Biometric And Authentication System, Surveillance System, Emergency And Disaster Management, Cyber Security, C2/C4ISR Networks, Scanning And Screening System, Public Address And General Alarm, Backup And Recovery Systems, Professional Services, Managed Services
Subsegments:
1) By Services: Consulting Services, Installation And Integration Services, Maintenance And Support Services, Training And Education Services, Monitoring And Response Services
2) By Solutions: Surveillance Systems (CCTV, Drones), Access Control Systems, Alarm And Emergency Response Systems, Communication Systems, Cybersecurity Solutions, Incident Management Software
Which Major Trends Are Shaping the Future of the Public Safety And Security Industry?
The emergence of product innovations is a notable trend that is gathering momentum in the public safety and security market. The prime players in the sector are pivoting towards launching innovative products, a strategy aimed at solidifying their market presence. In a case in point, Teledyne FLIR LLC, a firm based in the US that specializes in thermal imaging cameras and sensors, unrolled its product named SIRAS in September 2022. This public safety and industrial inspection drone has been engineered with a focus on data security, performance, and cost-effectiveness. The drone is particularly tailored for industrial and utility inspection, firefighting, public safety, and search and rescue operations. SIRAS is also distinguished by a swift-connect payload system that enables the user to seamlessly interchange between a dual radiometric thermal and visible camera payload and other payloads including lidar and multispectral sensors. Additionally, it is fitted with front collision avoidance sensors to reduce accidents.
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Which Key Players Dominate the Public Safety And Security Industry Globally?
Major companies operating in the public safety and security market include accenture* Plc., AGT International, Atos SE, BAE Systems plc, Cisco Systems Inc., Elbit Systems Ltd., Ericsson, Fotokite, L3Harris Technologies Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., Northrop Grumman Corporation, NEC Corporation, Teltronic S.A.U., Thales Group, Halma plc, Brady Corporation, Securitas AB, ADT Inc., Allegion plc, Federal Signal Corporation, Honeywell International Inc., Motorola Solutions Inc., International Business Machines Corporation (IBM), General Dynamics Corporation, CentralSquare Technologies LLC, Hexagon AB, Environmental Systems Research Institute Inc. (Esri), Sun Ridge Systems Inc., Telstra Corporation Limited, Axis Communications AB, Bosch Security Systems, Genetec Inc., Hanwha Techwin Co. Ltd., Johnson Controls International plc, Nice Ltd., Panasonic Corporation, Qognify Inc., Verint Systems Inc., Zhejiang Dahua Technology Co. Ltd.
What Are the Fastest-Growing Regions in the Public Safety And Security Market?
North America was the largest region in the public safety and security market in 2024. The regions covered in the public safety and security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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