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The public safety market share is expected to increase by USD 26.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 23.09%.
This public safety market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers public safety market segmentation by deployment (cloud and on-premise) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The public safety market report also offers information on several market vendors, including Atos SE, CentralSquare, Cisco Systems Inc., Environmental Systems Research Institute Inc., General Dynamics Corp., Hexagon AB, Honeywell International Inc., Huawei Investment and Holding Co. Ltd., International Business Machines Corp., L3Harris Technologies Inc., Motorola Solutions Inc., NEC Corp., NICE Ltd., Northrop Grumman Corp., Nuance Communications Inc., OSI Systems Inc., Sun Ridge Systems Inc., Tandu Technologies and Security Systems Ltd., Telefonaktiebolaget LM Ericsson, and Telstra Corp. Ltd. among others.
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The adoption of machine learning and AI-based public safety solution is notably driving the public safety market growth, although factors such as public safety in natural and man-made disasters may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the public safety industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Public Safety Market Driver
The adoption of machine learning and AI-based public safety solution is one of the key drivers supporting the public safety market growth. AI-based solutions are increasingly being adopted by government and corporate organizations across the world to prevent and anticipate crime and improve organizational security. For example, in the US, police departments in New Orleans and Los Angeles collaborated with the commercial sector to develop predictive policing programs. These programs analyze social media posts, outline criminal histories, and identify people's relationships with other members using data obtained from IoT devices under smart city plans, such as traffic cameras, smartphones, and various devices. This solution will use statistics and artificial intelligence to assess whether or not someone is committing or becoming a victim of these crimes, and let law enforcement agencies respond. Due to such factors, the market is expected to grow during the forecast period.
Key Public Safety Market Trend
Law enforcement is expected to have a large share of the market is one of the key public safety market trends that is contributing to the market growth. In law enforcement, the lives of people depend on their ability to respond quickly to crisis situations and use timely and accurate information to coordinate their response. Even after an incident has passed, it is still important to share information with courts and other authorities for fast and effective investigation and resolution, which requires further public security solutions. Moreover, one can increase public safety while using the latest data and technology, and these two can collaborate to identify needs and establish best practices to maintain public safety. Such factors will increase the growth of the public safety market in focus during the forecast period.
Key Public Safety Market Challenge
Public safety in natural and man-made disasters is one of the factors hindering the public safety market growth. The world is full of Internet devices (IoT), including sensor-based options that can detect disasters such as water, excessive heat, earthquake, and air smoke. The IoT of the public safety device helps transform disaster predictions on a domestic or global scale and provides high-para local earners to damage the area infrastructure. Meanwhile, various IoT devices can be used to ensure that emergency equipment such as backup generators work in front of a crisis. Moreover, governments are trying to develop intelligent mitigation plans to minimize the response time and damage caused by natural and man-made disasters. Such factors are expected to drive the growth of the public safety market during the forecast period.
This public safety market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global public safety market as a part of the global communications equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the public safety market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the public safety market encompasses successful business strategies deployed by the key vendors. The public safety market is fragmented and the vendors are deploying growth strategies such as acquisitions, partnerships with industry participants, and new product/service rollouts to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The public safety market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the public safety market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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