Global Public Safety Market Report and Forecast 2024-2032

Global Public Safety Market Size

The global public safety market attained a value about USD 30.54 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 27.9% to reach nearly USD 280.15 billion by 2032.

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Public Safety Market Regional Insights

The Asia Pacific Region to Hold a Significant Share of the Public Safety Industry

The Asia Pacific region is witnessing robust growth owing to the dynamic and advanced acquisition of the latest technologies and is anticipated to record one of the highest compounds annual growth rates in the global public safety industry in the coming years. This region comprises the major population and economies, such as India, Japan, China, Australia, Singapore, and New Zealand, which are expected to register high growth rates in the market for public safety. Moreover, the geographical expansion of business operations by multinational companies in the region, particularly in emerging economies like China, Indonesia, India, and the Philippines, are anticipated to drive the economic growth and financial markets in the region, thus making them potential targets for cybercrimes and terrorism, which, in turn, is projected to increase the public safety market revenue.

According to the recent Internet security threat report released by Symantec Corporation, U.S., India, and China were the main countries with the highest number of cyber threats. Hence, the growing prevalence of cyberattacks is expected to surge the acquisition of public safety solutions by the governments over the forecast period. In addition, the growing awareness regarding the importance of security, rise in hazardous industrial exploration, and replacement of obsolete architecture, among other factors, are expected to increase the public safety market value.

Industry Outlook

Credit card fraud is the most reported type of identity theft in 2022, with 440,672 cases, according to Forbes Advisor via the Federal Trade Commission Consumer Sentinel Network. Other forms of identity theft, which include various unauthorized uses of personal information, rank second with 326,511 reports. Bank fraud follows with 156,143 reported cases, indicating significant financial sector vulnerabilities.

Loan or lease fraud, involving fraudulent attempts to obtain loans or leases, accounts for 153,583 reports, demonstrating a considerable risk in the lending market. Employment or tax-related fraud, which includes fraudulent use of personal information for employment or tax benefits, has 103,420 reports, highlighting ongoing concerns in tax and employment verification processes.

California leads in cybercrime victim losses with $2,013 million and 80,766 victims, highlighting the state's significant exposure to cyber threats, according to Forbes Advisor. Florida ranks second, with losses amounting to $845 million and 42,792 victims, indicating a high prevalence of cybercrime incidents. New York follows, experiencing $777 million in losses and 25,112 victims, showing substantial financial impact from cybercrime.

Texas reports $763 million in losses with 38,661 victims, reflecting significant cybercrime activity. Georgia, with $323 million in losses and 13,415 victims, also faces considerable cybercrime challenges. New Jersey has $285 million in losses and 11,793 victims, underscoring its vulnerability to cyber threats.

Illinois, experiencing $267 million in losses and 14,786 victims, demonstrates notable cybercrime impacts. Pennsylvania reports $251 million in losses with 14,714 victims, indicating widespread cybercrime issues. Alabama, with $248 million in losses and 4,893 victims, and Arizona, with $241 million in losses and 11,882 victims, round out the top ten states for cybercrime victim losses.

How Do Technological Advancements and Government Support Strengthen the Global Public Safety Market Growth?

• Continuous innovation in public safety technologies such as AI, IoT, and big data analytics.

• Strong governmental policies and funding dedicated to enhancing public safety infrastructure, which may impact the public safety market dynamics and trends.

• Growing awareness and demand for public safety solutions among communities and businesses.

What Opportunities Do Smart City Initiatives and Technological Innovations Create in the Global Public Safety Market?

• Rising trend of smart cities offers vast opportunities for public safety technology deployment, which is expected to provide several public safety market opportunities.

• Rapid advancements in AI, machine learning, and drone technology can enhance public safety measures.

• Growing demand in emerging markets provides opportunities for expansion.

• Increased collaboration between government and private sector to develop innovative public safety solutions, which will likely influence the public safety demand forecast.

What Risks Do Cybersecurity Threats and Regulatory Compliance Pose to the Global Public Safety Market?

• Increasing cyber threats can compromise public safety systems.

• Fast-paced technological changes may render existing systems obsolete, requiring constant upgrades, thus hampering the growth of the public safety market.

What Challenges Do High Implementation Costs and Integration Issues Pose to the Global Public Safety Market?

• Significant financial investment required for deploying advanced public safety systems.

• Difficulties in integrating new technologies with existing infrastructure influences the growth of public safety market.

• Issues related to data security and privacy can hinder the adoption of certain technologies.

• Shortage of skilled professionals to manage and operate advanced public safety systems.

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Global Public Safety Industry Trends

• Rising awareness and concern for personal and community safety.

• Adoption of advanced technologies like surveillance systems and smart security devices.

• Preference for reputable and established brands.

• Cost remains a significant factor influencing purchasing decisions.

• Preference for tailored safety solutions.

• Growing concern about digital security is a key trend of public safety market.

• Rising preference for eco-friendly and sustainable products.

• Demand for products that comply with safety standards.

• Impact of effective marketing campaigns and educational initiatives.

Key Advancements in the Global Public Safety Market

• AI and Machine Learning for predictive analytics.

• IoT and Smart Devices for real-time monitoring.

• Next-Generation 911 (NG911) for enhanced emergency response.

• Interoperable Communication Networks for seamless agency communication.

• Robust Cybersecurity Measures.

• Data Encryption and Privacy Solutions.

• Utilization of Drones and UAVs.

• Development of Wearable Technology.

• Forming International Partnerships.

• Market Penetration in Emerging Regions.

• Integration into Smart Infrastructure.

• Collaboration with Governments.

• Advanced Disaster Response Platforms.

• Deployment of Mobile Command Centers.

Key Indicators for Demand in the Global Public Safety Market

• Increased crime rates.

• Heightened terrorism threats.

• Frequency of natural disasters.

• Growing urban populations.

• Availability of government funding.

• Technological advancements.

• Greater public awareness.

• Stricter regulatory requirements.

• Economic stability.

Price Competition in the Global Public Safety Market is Determined by:

• Aggressive Pricing Strategies

• Cost of Technology

• Government Budgets

• Economic Conditions

• Market Saturation

• Regional Pricing Differences

• Vendor Relationships

• Bulk Purchasing

• Technological Advancements

• Service and Maintenance Costs

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Public Safety Industry Segmentation

Public safety refers to the protection of the public, critical infrastructure, and properties of both private and government sectors. It is typically handled by special agencies across various departments, such as EMS, police and other civil organisations. The rising prevalence of cybercrimes and the increasing security threats are surging the demand for public safety tools, thus increasing the public safety market share.

The major components of public safety are:

• Software

• Services

The software segment is further divided into record management, investigation management, location management, criminal intelligence, and crime analysis, among other software.

Based on deployment mode, the market is bifurcated into:

• On Premise

• Cloud

The market can be broadly categorised on the basis of verticals into:

• Law Enforcement

• Medical

• Firefighting

• Transportation

• Others

The EMR report looks into the regional markets of public safety like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Rise in Threats of Cyber-Attacks and Terrorism to Augment the Public Safety Market Share

The development of intelligence mitigation plans by governments and security agencies to reduce the response time and damage caused by natural and man-made disasters to protect its citizens from cyber threats and terrorism is expected to drive the demand of public safety market. In addition, emergency situations, such as cybercrimes and terrorist attacks, resulted in massive public and private property losses, which is projected to further fuel the demand for public safety solutions. This is also prompting law enforcement agencies and governments to develop regulatory policies with a primary objective to protect the public and minimise the effects of calamities. As per public safety industry analysis, as corporates and tax payers are increasingly facing continuous natural and man-made disasters, cyber-attacks, and terrorism, the market for public safety is anticipated to witness rapid growth. Moreover, in the expeditiously evolving global security, governments are giving importance to advanced solutions to improve and strengthen the security systems and existing information technology infrastructure, which is expected to thus supporting the public safety demand growth.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global public safety market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Cisco System, Inc.

• Honeywell International

• Motorola Solutions, Inc.

• IBM Corporation

• Telefonaktiebolaget LM Ericsson

• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Public Safety Market Report Snapshots

Public Safety Market Size

Public Safety Market Share

Public Safety Companies

Public Safety Market Regional Analysis