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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Competitive Overview:

The key vendors profiled in the global Public Safety and Security market include Cisco(US),  Honeywell(US), Motorola Solutions (US), IBM(US), Siemens(Germany), NEC(Japan), Thales(France), Hexagon(Sweden), Ericsson(Sweden), Huawei(China), Atos(France), Idemia(France), General Dynamics(US), ESRI(US), L3harris Technologies(US), Alcatel-Lucent Enterprise(France), Bae Systems(UK), Verint Systems(US), SAAB AB(Sweden), Nice(Isreal), Teltronic(Spain), Secure Passage(Kansas),  Fotokite(Switzerland), Onsolve(US), Barrier1 Systems(US), IOTAS(India), Veoci(US), Cityshob(Israel)  These players have captured a significant market share by incorporating a high product footprint and efficient business strategy excellence.

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.

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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