The global Public Safety And Security Market size is expected to reach USD 812.6 billion by 2025, expanding at a CAGR of 14.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. The rapid modernization of public safety regulations and policies across the globe is anticipated to drive the market growth over the forecast period. These solutions have provided users with effective measures to ensure the safety of organizations, individuals, and critical infrastructure against multiple threats such as illegal immigration, terrorist attacks, and illegal drugs and arms trafficking. Furthermore, the rapidly increasing number of natural and man-made disasters is also expected to play a pivotal role in driving the demand for these solutions worldwide.
Over
the past few years, an increasing collaboration among countries has been
witnessed regarding the measures taken for public safety. Countries are hence
focusing on establishing regional cooperation in the area of cross-border
disaster management to address key issues by deploying emergency management
systems, critical communication network infrastructure, and geospatial data
collection and analysis tools, among others. Furthermore, developed as well as
emerging economies around the world have realized the importance of public
safety and security solutions in emergency and crisis management. Governments
are now developing regulations and standards to improve surveillance and
enhance public safety. Surveillance systems are particularly effective for
transit agencies to monitor their systems remotely, while critical
communication network enables secure communication between various units, which
is crucial for crisis management.
Due
to rapid digital transformation of global financial and banking systems, there
has been a constant focus on deployment of digital security measures to deal
with the increasing number of cyber-attacks. The increasing awareness regarding
security systems, replacement of obsolete systems and technologies, and rise in
hazardous industrial operations are also some of the major factors expected to
drive the demand for these systems. Hence, to comply with the growing demand,
there has been a significant increase in financial allocation by countries for
upgrading and modernizing the existing information technology infrastructure
and the setting-up of dedicated departments to deal with the emerging cyber
threats. However, the high system acquisition and deployment costs and lack of
interoperability between legacy and emerging security systems is hindering the
growth of the public safety and security market.
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Further key findings from the study suggest:
- Managed
services is anticipated to emerge as the fastest-growing service segment
over the forecast period owing to the increasing deployment of public
safety and security solutions as part of smart city initiatives
- The
emergency & disaster management segment is expected to gain traction
over the forecast period owing to the increasing need for these solutions
for better management of natural calamities and emergency situations
worldwide
- The
logistics & transportation systems segment is expected to register the
highest CAGR over the forecast period due to the increasing focus of
governments on the development of road and rail infrastructure projects
- The Asia
Pacific regional market is expected to grow at the highest CAGR from 2019
to 2025 owing to the increased spending on these solutions to improve
public safety, particularly in emerging economies such as India and China
- Key players
operating in the market include Atos; ESRI; NEC Corporation; SAP SE; Cisco
Systems, Inc.; Genetec; Harris Corporation; General Dynamics; Ericsson;
and Huawei Technologies Co., Ltd.
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headquartered in San Francisco. The company provides syndicated research
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