Public Safety and Security Market by Solution (Critical Communication Network, Biometric and Authentication System, Surveillance System, Emergency and Disaster Management, Cyber Security), Service, Vertical, and Region - Global Forecast to 2021
“The rise in criminal activities, natural disaster, and cross border terrorism will drive public safety and security market”
The public safety and security market size is estimated to grow from USD 247.53 billion in 2016 to USD 456.56 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 13.0%. The public safety and security market is driven by factors such as rise in criminal activities, natural disaster & cross border terrorism, need for stringent government policies & regulations for public safety, and increase in attack on critical infrastructures & public utilities. Whereas, high installation cost for public safety & security systems, and lack of interoperability between legacy & advanced security systems may limit the growth of the public safety and security market.
“Emergency and disaster management segment is expected to grow at the highest CAGR during the forecast period”
Emergency and disaster management solution is expected to grow at the highest CAGR during the forecast period, due to high adoption by government and public safety agencies in case of natural disasters such as earthquake, cyclone, and tsunami or any other emergency situations. However, critical communication network is expected to have the largest market size in 2016, as they are the backbone of public safety infrastructure for mission-critical communications.
“The managed services segment is expected to grow at the highest CAGR during forecast period”
Organizations are rapidly growing their partnership networks to deploy public safety and security solutions across the globe. Thus, the managed services segment is expected to grow at the highest CAGR during the forecast period. However, the professional services segment is expected to have the largest market size in 2016.
“Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period”
APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the deployment of public safety and security solutions for protecting critical infrastructure projects in the emerging economies of regions such as China, Australia, and India. Furthermore, North America is expected to have the largest market size in 2016.
In-depth interviews were conducted with CEOs, marketing directors, innovation & technology directors, and executives from various key organizations operating in the public safety and security market.
By company type: Tier 1: 55%, Tier 2: 20%, Tier 3: 25%
By designation: C-Level: 60%, Director Level: 25%, Others: 15%
By region: North America: 10%, Europe: 20%, APAC: 40%, RoW: 30%
The report includes the study of key players offering public safety and security solutions such as Cisco Systems, Inc. (U.S.), NEC Corporation (Japan), Thales Corporation (France), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Huawei Technologies (China), Northrop Grumman Corporation (U.S.), Alcatel-Lucent (France), AGT International (Switzerland), and ESRI (U.S.).
The report provides a picture on public safety and security solutions and associated services across different verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as solution, services, verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on closest approximations of the revenue numbers for the overall public safety and security market and the subsegments. This report will help stakeholders understand the competitor landscape and gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.