Public Safety And Security Market To Generate Revenue Of $812.6 Billion With A Significant CAGR Of 14.8% By 2025 | Grand View Research Inc.

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Public Safety And Security Market To Generate Revenue Of $812.6 Billion With A Significant CAGR Of 14.8% By 2025 | Grand View Research Inc.

February 04
16:39 2021
Public Safety And Security Market To Generate Revenue Of  $812.6 Billion With A Significant CAGR Of 14.8% By 2025 |  Grand View Research Inc.

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According to the report published by Grand View Research, Inc., increasing incidences of terrorism and criminal violence all over, rising investment in modernization and betterment of security infrastructure along with growing usage of modern technologies like IoT and AI in security are expected to keep the market on the growth track.

According to a report, “Public Safety And Security Market Analysis Report By Service (Professional, Managed), By Solution, By Application (Homeland Security, Critical Infrastructure Security), By Region, And Segment Forecasts, 2019 – 2025”, published 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.

Public safety has taken the center-stage due to several ill activities happening around which demands a change in perspective from which it was being viewed earlier. 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. In addition to this, governments after realizing its importance, are now taking massive steps in 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 networks enable 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. 

U.S. public safety and security market size, by application, 2014 - 2025 (USD Billion)

Further key findings from the study suggest:

  • In December 2020, Remote Faroe Islands are now inter-connected for the public safety communications and connectivity from Faroese Telecom, which has deployed Ericsson Group-Radio Mission Critical Push-To-Talk solution.

  • In June 2020, Atos Public Safety LLC, announced that it has been recognized by Frost & Sullivan with the 2020 North America Growth Excellence Leadership Award for its flexible, scalable and upgradable capabilities in Next Generation 9-1-1 (NG9-1-1) emergency services.

  • Based on the service type, 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

  • Based on solutions, 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

  • Based on applications, 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

  • Based on the region, 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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Grand View Research has segmented the global public safety and security market on the basis of service, solution, application, and region:

Public Safety and Security Service Outlook (Revenue, USD Billion, 2014 – 2025)

  • Professional Services

  • Managed Services

Public Safety and Security Solution Outlook (Revenue, USD Billion, 2014 – 2025)

  • Biometric Security & Authentication System

  • Critical Communication Network

  • C2/C4ISR System

  • Surveillance System

  • Screening & Scanning System

  • Emergency & Disaster Management

  • Cybersecurity

  • Public Address & General Alarm

  • Backup & Recovery System

Public Safety and Security Application Outlook (Revenue, USD Billion, 2014 – 2025)

  • Emergency Services

  • Homeland Security

  • Critical Infrastructure Security

  • Logistics & Transportation Systems

  • Others

Public Safety and Security Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

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About Grand View Research

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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