Public Safety and Security Market Size, Share, Trends, Growth 2032

Public Safety and Security Market Insights

Zion Market Research has published a report on the global Public Safety and Security Market, estimating its value at USD 368.96 Billion in 2023, with projections indicating that it will reach USD 927.11 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 10.78% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Public Safety and Security Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Public Safety and Security Market: Growth Dynamics

Public safety includes emergency medical and services; law enforcement and others. Public security is functioned by government to protect territory, citizens, organizations and institutions against any threats.

The public safety and security market is expected to witness growth in the projected period. The rising government mitigation plans to reduce the response time and damage caused by man-made and natural disasters is anticipated to boost the market growth. Rising smart city projects, rising trend of IoT for safety and security along with increasing criminal activities are some of the drivers for the public safety and security market in the forecast period. Rising use of IoT enabled devices to share and connect the information for coordinated decisions and rising terrorist attacks are some of factors fostering market growth.

Furthermore, government across all regions is heavily investing in safety and security by pooling the funds for communication and surveillance systems. Owing to the budget constraints, the public service organizations are opting cloud based applications instead of on-premises as it will require a huge cost for the setup and maintenance.

The cloud based type will exclude the requirement of infrastructure needed by the public service organizations eventually reducing the expenses incurred on software infrastructure, like SQL licenses, which is why cloud based deployments is preferred by the organizations. Market players are also offering new software delivery models, like PSaaS (Public Safety as a Service) to public safety organizations with on premises and cloud based deployment options, eventually letting agencies focus on keeping property and people safe rather than handling complex infrastructure.

Other market divers such as cheaper cost of utilizing SaaS mode and advancement of cloud security is anticipated to help the law enforcement agencies and also end users of the market which includes medical, transportation and firefighting. All these factors will stimulate market demand and protect & serve public in an effective way. However, the high installation and maintenance cost of public safety and security systems are anticipated to hinder market demand in the long run.

Public Safety and Security Market: Segmentation

The public safety and security market is segmented to the basis of solution, services and vertical.

The service segment is further divided into managed service and professional services. Managed service is anticipated to hold a higher CAGR of public safety and security market in comparison to professional services, as organizations are expanding their network to install the public safety and security solutions across the globe. However, the professional services are estimated to hold a significant share during the predicted period.

Public Safety and Security Market: Report Scope

Global Public Safety and Security Market: Regional Analysis

On the basis of region the product analytics market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa. North America will hold a substantial share during the forecast period, owing to the early adoption of public safety and security solution along with the presence of key market players are the factors behind high market growth in this region.

public safety and security market players are:

• General Dynamics
• Cisco Systems
• Huawei
• Ericsson
• Harris Corporation
• NEC Corporation
• IBM
• Hexagon
• Ericsson 
• MotoRoLA Solutions

The report segments public safety and security market as follows:

Global Public Safety and Security Market: Solution Segment Analysis

• C2/C4isr System
• Critical Communication Network
• Surveillance System
• Biometric Security and Authentication System
• Emergency and Disaster Management
• Scanning and Screening System
• Public Address and General Alarm
• Backup and Recovery System
• Cyber security

Global Public Safety and Security Market: Services Segment Analysis

• Managed Services
• Professional Services

Global Public Safety and Security Market: Vertical Segment Analysis

• Emergency Services
• Homeland Security
• Transportation Systems
• Critical Infrastructure Security
• Others

Global Public Safety and Security Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa