The public safety and security market is expected to grow from USD 277.02 Billion in 2017 to USD 532.39 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period.
Increasing number of smart city projects, growing trend of IoT in public safety security, and rising criminal activities and terrorist attacks are main drivers of the market. The public safety and security market is segmented by solution, service, vertical, and region.
The public safety and security market by solution includes critical communication network, C2/C4ISR system, biometric security and authentication system, surveillance system, scanning and screening system, emergency and disaster management, cyber security, public address and general alarm, and backup and recovery system.
The critical communication network solution segment in the market is expected to hold the largest market size during the forecast period. The market for the solution segment is expected to be growing, as the individuals, law enforcement agencies, and government agencies are concerned about securing public and private infrastructures.
The managed service segment is expected to grow at a higher CAGR during the forecast period, as organizations are rapidly expanding their partnership networks to deploy the public safety and security solutions across the globe. However, the professional services segment is estimated to hold a larger market size in 2017.
Public safety and security solutions have been deployed across verticals, including the homeland security, emergency services, critical infrastructure security, and transportation systems. The transportation systems vertical is expected to grow at the highest CAGR during the forecast period. However, the homeland security vertical is estimated to have the largest market size in 2017.
Smart City Initiatives Are Expected to Drive the Public Safety Investments The Growing Trend of Iot in Public Safety The Rise in Criminal Activities And Terrorist Attacks
High Installation And Maintenance Costs for Public Safety And Security Systems
Emergence of Big Data Analytics in Public Safety And Security Adoption of Cloud Computing Technologies in the Public Safety Industry AI Innovations in Border And Public Safety
Lack of Efficient Storage And Data Management Capacities
Cisco Systems Ericsson Esri General Dynamics Harris Corporation Haystax Hexagon Huawei IBM Motorola Solutions Nec Corporation Nice
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