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Public Safety Market 2019-2024 Comprehensive Analysis of Leading Key Players with Significant Growth Rate and Gross Margin Forecast to 2024

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Public Safety

Public Safety Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Public Safety Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of Public Safety Market.

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Key Insights of Public Safety Market:

  • Complete in-depth analysis of the Public Safety
  • Important changes in market dynamics.
  • Segmentation analysis of the market.
  • Emerging segments and regional markets.
  • Historical, on-going, and projected market analysis based on volume and esteem.
  • Assessment of niche industry players.
  • Market share analysis.
  • Key strategies of major players

Market Overview:

  • The public safety market was valued at USD 8.58 billion in 2018, and it is expected to reach USD 38.98 billion by 2024, registering a CAGR of 29.9.%, during the forecast period of (2019-2024). Increasing awareness about the importance of security, replacement of obsolete architecture, rise in hazardous industrial explorations, among other factors is expected to drive the demand for public safety software.
  • – Governments are increasingly trying to develop intelligent mitigation plans to minimize the response time and damage caused by both natural and man-made disasters, which is expected to drive the market.
  • – Factors, such as high installation cost and lack of interoperability between legacy and advanced security systems are hindering the market growth. In addition, data security concerns due to the evident threat of cyber-attacks on public safety and security systems also persist. The concerns over privacy and surveillance have also been recognized as major challenges for public safety companies to adopt software solutions.
  • – Governments across regions are investing in enhancing their surveillance and communication systems. For instance, in 2018, the Boston Police Department (BPD) invested in the full spectrum of public safety which accounts to almost 3.8% or USD 14.6 million increase over the previous fiscal year. As part of their mission to safeguard the citizens, BPD was reported to be focusing on new technological improvements, including the rollout of additional mobile devices, security upgrades at the evidence storage facility, additional automatic license plate recognition cameras, and also the department-wide USD 56 million radio replacement project. Such investments are evident across regions and are indicative of the increasing reliance on technology solutions.

    Public Safety Market Segmentation by Top Key Players:

  • Cisco Systems Inc.
  • General Dynamics Corporation
  • IBM Corporation
  • Ericsson Inc.
  • Harris Corporation
  • NEC Corporation
  • Atos SE
  • Motorola Solutions Inc.
  • Aptean Corporation(Vista Equity Partners)
  • Hexagon AB
  • Esri Inc.
  • Sun Ridge Systems Inc.
  • Telstra Corporation Limited

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    Scope of the Report:

  • Public safety refers to the welfare and protection of the general public, usually expressed as a government responsibility. Most states have departments for public safety. The primary goal of the department is the prevention of the public from dangers affecting safety, such as crimes or disasters. This is achieved by collaboration with private organizations for technology and other support services. The collaboration will help the government organizations to achieve public safety.

    Key Market Trends:

    Cloud Deployment has Largest Growth in the Market for the Forecast Period.

    – Considering the lean budgets, public service organizations have been increasingly opting for cloud-based applications rather than on-premises. Also, as cloud deployment would eliminate the need for agencies to acquire infrastructure and also reduce the expense of software infrastructure, such as SQL licenses, the cloud-based deployments are being preferred.
    – Vendors in the market offering new software delivery models, such as Public Safety as a Service, PSaaS, are providing the public safety organizations with hosted and cloud deployment options, which allows agencies to focus on keeping people and property safe and not on managing complex hardware and software infrastructure.
    – Public safety organizations also find that these deployment options streamline the maintenance and upgrade process, which happen to be significant factors for agencies with on-premises software.
    – Moreover, factors, such as advancement of cloud security and cost benefits of utilizing SaaS model, are expected to benefit not only the law enforcement agencies but also other end users of the market (firefighting, medical, and transportation), thus enabling them to serve and protect the public in an efficient way.

    United States presently has the Largest Share in the Market

    – The stringent governmental regulations for industrial safety is one of the factors driving the demand for public safety in the United States. The Patriot Act of 2001 identified a number of locations and areas that require security, such as agriculture and food, emergency services, defense, IT, energy and power, transportation and shipping, banking, chemical and hazardous manufacturing industry, and national monuments, among others.
    – The National Infrastructure Protection Plan (NIPP) has been revised to identify 16 critical sectors susceptible to attacks. Implementation of this plan has increased the demand for public safety solutions in those 16 sectors.
    – Moreover, the crime rate in the United States is a more serious issue, which the government is trying to address through public safety. Traditionally, the crime rate decreased drastically since 1992, when the government first introduced digital initiatives in law and order. However, there has been a slight increase in the crimes committed in recent years, since 2014.
    – There has been a significant increase in the number of mass shootings in the United States. In 2018 alone, the United States faced 12 mass shootings in a school. Apart from that, the US prison is overflowing, with almost 2.6 million prisoners, as of 2018.
    – The United States represented about 4.4% of the total world’s population in prison in 2018, according to the data by the US Bureau of Justice Statistics. This has posed new challenges for law enforcement and due to the lack of police officials, the country is dependent on digital public safety measure to manage law and order related activities.
    – Public safety and disaster management integration is being used to reduce those losses.

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    Public Safety Market Covers Following Points in TOC:

    • Chapter 1: Public Safety Market Definition
    • Chapter 2: Research Methodology of Public Safety Market
    • Chapter 3: Public Safety Market Executive Summary
    • Chapter 4: Public Safety Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Public Safety Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Public Safety Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Public Safety Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Public Safety Market

     

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