Global public safety and security market growing

North America expected to be largest market share
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Wednesday, March 21, 2018

PUNE, India—According to a MarketsandMarkets study, the market for public safety and security is growing globally, with the North American market comprising the biggest share.

The global public safety and security market was valued at $247.55 billion in 2016, according to MarketsandMarkets, and the firm expects it to reach $532.39 billion by 2022, at a CAGR of 14 percent over that time. “North America is expected to grow from USD $102.79 billion in 2017 to a market size of USD $188.82 billion in 2022 at a CAGR of 10.9 percent,” Padmini Moundekar, MarketsandMarkets industry analyst, Information Security, told Security Systems News in an email interview.

"North America is expected to hold the largest market share and dominate the public safety and security market from 2017 to 2022, due to the high number of early technology adopters in this region. Specific budget allocations and mandated public safety and security policies are expected to make North America the most lucrative region for vendors,” Moundekar said.

In terms of the public safety and security market, MarketsandMarkets is focused on the technology development as well as solution and service vendors. “The study covers all the major segments and analyses of the trends and key dynamics governing the public safety and security market,” Apurva Ranbhise, MarketsandMarkets industry analyst, Information Security, told SSN via email.

“The technology backbone of public safety and security solutions comprises of critical communication network, C2/C4isr system, biometric security and authentication system, surveillance system, scanning and screening system, emergency and disaster management, cyber security, public address and general alarm, and backup and recovery systems,” said Ranbhise.

Current trends in public safety and security technology include “body-worn cameras, in-vehicle video and smartphones which works as one integrated system that automatically captures the incidents and digital evidence,” according to Ranbhise.

In addition, Ranbhise said, “Critical communication network technologies are increasingly being adopted by organizations in North America as in public safety and security market space data is becoming mission critical for next-generation public safety communication.”

Smart city initiatives are among the drivers for the public safety and security market. “Smart technologies are revolutionizing the structure of cities. Smart technologies such as smart energy meters, security devices, smart appliances, and smart transportation are being used to develop many smart cities. The integration of security technologies in the smart cities is expected to drive the growth of public safety and security market,” Moundekar said.

The Internet of Things also plays a role, integrating various security infrastructures, including cybersecurity, traffic safety, crowd sensing and crime detection, among others. “IoT helps cities to achieve public safety goals by offering various capabilities such as real-time monitoring, real-time analytics and improved decision making,” said Moundekar.

There is also a rise in criminal activities and terrorist attacks that is driving the market, according to Moundekar.

Primary vertical markets for public safety and security solutions include, homeland security, emergency services, critical infrastructure security, and transportation systems, Ranbhise said.

High installation and management costs are one potential inhibitor for the market, according to Moundekar. Another is the lack of efficient storage or data management solutions. “Public safety vendors are using cloud technologies for storage of [a] huge amount of data as they are cost effective for agencies that might not be able to accommodate on-premises software system,” she said.

“The major vendors who specialize in the public safety and security technology include Cisco Systems, General Dynamics, Harris Corporation, Huawei, IBM, NEC Corporation, Hexagon, Motorola Solutions, Ericsson, ESRI, Nice, and Haystax,” Moundekar said. “Furthermore, the vendors in public safety and security market in North America includes Kratos Defense & Security Solutions, Rockwell Collins, CACI International, Booz Allen Hamilton, Robert Bosch LLC, UL LLC, and ATALIAN Global Services.”