Public Safety and Security Market

The global Public Safety and Security Market is projected to grow from USD 520.8 billion in 2024 to USD 878.2 billion by 2029 at a compound annual growth rate (CAGR) of 11.0% during the forecast period. Evolving security threats in the form of terrorism and other crimes are making the governments of countries like the U.S., Canada, the UK, and Germany undertake advanced safety measures like biometric security and video surveillance. Apart from that, other forces of technology in the form of IoT, AI, and Big Data are revising strategies related to public safety through enhanced surveillance and improved emergency response capabilities.

What is Public Safety and Security?

According to MarketsandMarkets, public safety refers to the public's safety, security, and welfare. Public safety and security are top priorities of governments worldwide. The role of public safety professionals is to prevent danger and protect the well-being of citizens, communities, and organizations against cyber threats, terrorism, frauds, criminal activities, natural calamities, national and international terrorism, and other emergencies and disaster situations.

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Top Companies in Public Safety and Security Industry Include

• IBM 
• Cisco
• Honeywell
• Motorola
• Siemens

IBM mainly contributes to public safety and security through the full solution portfolio that targets law enforcement and emergency management agencies. IBM uses state-of-the-art technology in fusing data, analysis, and artificial intelligence to minimize intervention times and facilitate agency coordination. Public safety solutions from IBM aid agencies in overcoming affiliated hurdles, thus helping the agencies in collecting, storing, and analyzing mission-critical data. IBM optimizes solutions for the management of incidents to optimize operations and consumable resources. The underlying key technologies laid down in the baselines of tools promote AI, machine learning, and other innovative tools, which ensures system predictive analysis and automated threat detection. IBM public safety solutions generally enable maximum operational effectiveness in the building of safer communities and improve the effectiveness of public safety.

Cisco plays a pivotal role in public safety and security improvement through a wide range of solutions for law enforcement, emergency management agencies, and smart city projects. Cisco is using advanced technology in data integration, analytics, and artificial intelligence to allow for better coordination among agencies and faster response times. Cisco's public safety solutions support numerous challenges through the collection, storage, and advanced analytics of video surveillance and weather information, which supports enhanced situational awareness and decision-making, automated incident detection, real-time situational awareness, secure mobile communications, and video surveillance with access control. Cisco promotes strong cybersecurity in all its products with network, cloud, endpoint security, and advanced threat protection.

According to MnM's approach to evaluating the market most businesses are using various organic and inorganic growth tactics to maintain their position in the evolving market. These strategies cover deals like alliances, acquisitions, collaborations, and partnerships. Moreover, various organizations are focusing on organic growth strategies to provide public safety and security solutions to the end consumers, such strategies are boosting market revenue.

Honeywell Honeywell is an American multinational conglomerate headquartered in Charlotte, North Carolina. The company operates in four primary business areas: aerospace, building automation, industrial automation, and energy and sustainability solutions. Founded in 1906, Honeywell has evolved into a Fortune 500 company, ranking 115th in 2023. As of 2023, it employs approximately 95,000 people worldwide. In 2023, Vimal Kapur was appointed as the Chief Executive Officer, succeeding Darius Adamczyk, who continues as Chairman.

Motorola Motorola Solutions is an American technology and communications company headquartered in Chicago, Illinois. Established as the legal successor to Motorola, Inc. in 2011 after the spinoff of its mobile phone division, the company focuses on mission-critical communications, command center software, video security, and access control solutions. Its product portfolio includes public safety radio systems, body-worn cameras, video surveillance systems, and two-way radios for various markets. As of 2023, Motorola Solutions employs approximately 21,000 people.

Siemens Siemens is a German multinational technology conglomerate headquartered in Munich. Founded in 1847, it is Europe's largest industrial manufacturing company, focusing on industrial automation, distributed energy resources, rail transport, and health technology. Siemens operates through principal divisions such as Digital Industries, Smart Infrastructure, Mobility, and Financial Services. As of 2023, the company employs approximately 320,000 people worldwide and reported revenues of around €78 billion. Roland Busch serves as the Chief Executive Officer.

Related Reports:

Public Safety and Security Market by Solution (Critical Communication, C4ISR, Biometric Security, Surveillance, Emergency and Disaster Management, Cybersecurity), Application (Homeland, Critical Infrastructure, Transportation) - Global Forecast to 2029

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