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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Public Safety Market Report Snapshots
Public Safety Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global public safety market attained a value of nearly USD 30.54 billion in 2023.
The market is projected to grow at a CAGR of 27.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 280.15 billion by 2032.
The market is being driven by the growing adoption of the latest technologies and the increasing threats to human security.
Increasing risk of terrorism activities, cyberattacks, and the rising awareness regarding the importance of security are the key trends of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components of public safety in the market are software and services.
The major deployment modes of public safety are on premise and cloud.
The significant verticals in the market are law enforcement, medical, firefighting, and transportation, among others.
The key players in the global public safety market are Cisco Systems, Inc., Honeywell International Inc., Motorola Solutions, Inc., IBM Corporation, and Telefonaktiebolaget LM Ericsson, among others.
Issues related to data security and privacy and shortage of skilled professionals are hampering the market growth.
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