Public Safety and Security Market is anticipated to grow at a CAGR of 7.7% during forecast period and estimated to reach USD 599 billion by 2028.

Introduction of the Public Safety and Security Market Report

Public safety and security is mostly preferred by the several countries governments that ensures the protection of persons, citizens in their territory, organizations, and institutions against threats of natural disasters and cyber threat. Public security and safety are the system that offers several advantages including rapid application development, accessibility, cybersecurity, and secure mobility.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global public safety and security market include the rising cases of the natural disasters, increasing number of criminal activities, growing cyber attacks on the banking, finance and government institutions along with increasing infrastructure and cross-border terrorism.  Also, increasing necessity for the authentication and surveillance systems for ensuring the safety of the public data with rise in demand for predictive data-controlled security measures such as the implementation of a communication infrastructure for public safety is contributing market growth. For instance, according to the Insurance Information Institute Organization Report, cyber attacks accounted for 878 events which affected 170 Million individuals in the North America. Cyber attacks are being induced by emails (phishing), texts (smishing) to supply personal information and banking details.

Further, in the United States, the average annual cost of cybercrime increased by 29% in 2018 which accounted for USD 27.4 Million. Globally, demand for the public safety & security market is driven by increasing demand in the banking industry to reduce the threat of cyber criminals.

Also, several leading players are developing new higher security-based solutions by partnerships, collaboration, mergers and acquisitions with the industry leading tech players globally that expected to strengthen the market growth. For instance, in Jan 2020, Cisco launched comprehensive public and private security architecture for industrial IoT that uses the IT solutions to provide advanced anomaly detection.

Restraint in the Public Safety and Security Market

However, high skilled workforce required, capital intensive services & solutions due to requirement of huge fund to protect public infrastructure that may hamper the market growth.

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Component- Segment Analysis

Based on the component, solution expected to grow at the fastest rate in the global public safety and security market during the forecast period owing to increasing demand by the several governments during the Covid-19 pandemic in order to meet the emergency needs at the time of lockdown in several countries. Solutions offered include Cyber Security Emergency & Disaster Management, Critical Communication Network, Biometric & Authentication System, and Surveillance System. Among these, emergency & disaster management segment has the highest share in 2020, this is primarily due to rising rapid adoption of the advanced technologies. For instance, in 2021, The Minister for Public Safety and Emergency Preparedness had launched an Emergency Preparedness Public Awareness Campaign in Canada to protect people against the risk of natural disasters and emergencies.

Application – Segment Analysis

Based on the application, medical services segment is projected to have the largest market share over the forecast period in the global public safety and security market in 2020, owing to rising prevelence of the COVID-19 pandemic outbreak during the lockdown to reduce the operational cost.

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Regional – Segment Analysis:

Based on the region, North America region is dominated the global public safety and security market in 2019 due to increasing government initiatives and funding for the public safety during the natural disasters such as Covid-19 outbreak, hurricane with fastest utilization of the advanced technologies. For instance, during the Covid-19 pandemic, as per the Home Treasury Government Organization in United States, the American Rescue plan provided USD 350 Billion as the emergency funding for state, local, territorial, and Tribal governments to remedy this mismatch between rising costs and falling revenues. These investments have been made to improve the public safety and solution by the effective utilization of the E systems such as web-based, disaster recovery solutions etc.

Top Market Players

Various notable players operating in the market, includes AGT International, Atos, Motorola Solutions, Nec, Nice, Rave Mobile Safety, Siemens, IBM, Honeywell, Huawei, Cisco Systems, Ericsson, Tyco, and among others. 

Key Developments:

• • In 2021, Cisco launched Digitization Program in Japan for supporting inclusive pandemic recovery to drive mass-scale digitization across the country in support of its Society 5.0 vision.
  • In 2020, Verizon Business launched public safety applications portal to help public safety professionals and support industry standards for interoperability. The applications portal supports browsers, Windows, web apps, Android and iOS platforms.

Segments covered in the Report:

The global public safety and security market has been segmented on the basis of component, application, and key regions. Based on component, the market is segmented into solution and service. Further, solution segment is divided into cyber security, emergency & disaster management, critical communication network, biometric & authentication system and surveillance system. In terms of application, the global public safety and security market is divided into emergency services, natural disaster management, fire fighting services, medical services and others. 

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Key questions answered in this research report:

• • At what pace is global Public Safety and Security market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Public Safety and Security market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Public Safety and Security market?
  • Which component generated maximum revenues in 2020 and identifies the most promising Component during the forecast period?
  • What are the various application areas of global public safety and security market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2008)	USD 599 billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Application, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	AGT International, Atos, Motorola Solutions, Nec, Nice, Rave Mobile Safety, Siemens, IBM, Honeywell, Huawei, Cisco Systems, Ericsson, Tyco, and among others; a total of 13 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Public Safety and Security Market by Component

• • Solution
    • Cyber Security
    • Emergency & Disaster Management
    • Critical Communication Network
    • Biometric & Authentication System
    • Surveillance System
  • Service

Global Public Safety and Security Market by Application

• • Emergency Services
  • Natural Disaster Management
  • Firefighting Services
  • Medical services
  • Others

Global Public Safety and Security Market by Region

• • North America Public Safety and Security Market (Option 1: As a part of the free 25% customization)
    • North America Public Safety and Security Market by Component
    • North America Public Safety and Security Market by Application
    • US Public Safety and Security Market All-Up
    • Canada Public Safety and Security Market All-Up
  • Europe Public Safety and Security Market (Option 2: As a part of the free 25% customization)
    • Europe Public Safety and Security Market by Component
    • Europe Public Safety and Security Market by Application
    • UK Public Safety and Security Market All-Up
    • Germany Public Safety and Security Market All-Up
    • France Public Safety and Security Market All-Up
    • Spain Public Safety and Security Market All-Up
    • Rest of Europe Public Safety and Security Market All-Up
  • Asia-Pacific Public Safety and Security Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Public Safety and Security Market by Component
    • Asia-Pacific Public Safety and Security Market by Application
    • China Public Safety and Security Market All-Up
    • India Public Safety and Security Market All-Up
    • Japan Public Safety and Security Market All-Up
    • Rest of APAC Public Safety and Security Market All-Up
  • RoW Public Safety and Security Market (Option 4: As a part of the free 25% customization)
    • RoW Public Safety and Security Market by Component
    • RoW Public Safety and Security Market by Application
    • Brazil Public Safety and Security Market All-Up
    • South Africa Public Safety and Security Market All-Up
    • Saudi Arabia Public Safety and Security Market All-Up
    • UAE Public Safety and Security Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Public Safety and Security Market All-Up

Major Players Operating in the Public Safety and Security (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AGT International
  • ATOS
  • Motorola Solutions
  • NEC
  • NICE
  • Rave Mobile Safety
  • Siemens
  • IBM
  • Honeywell
  • Huawei
  • Cisco Systems
  • ERICSSON
  • Tyco