What Factors Propelled The Growth Of The Public Safety And Security Market In The Past?
The public safety and security market has seen considerable growth due to a variety of factors.
• In recent years, the market size of public safety and security has experienced a fast-paced growth. It is predicted to expand from $616.61 billion in 2024 to $693.85 billion in 2025 with a compound annual growth rate (CAGR) of 12.5%. The historic growth could be associated with factors such as the effect of natural disasters, evolution of terrorism and threats, investments in public safety, community policing efforts, and changes in criminal activities.
What Are the Future Growth Projections for the Public Safety And Security Market?
The Public Safety And Security market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the public safety and security market is projected to undergo swift expansion. The expected growth rate is forecasted to be at a 13.6%.
compound annual growth rate (CAGR), reaching $1154.45 billion by 2029 . The projected expansion during this period can be linked to factors like resilience planning, the establishment of integrated command centers, the implementation of remote monitoring solutions, data privacy measures, and the use of AI-powered analytics. The period is also expected to see prevalent trends such as the incorporation of artificial intelligence and machine learning, the widespread use of the internet of things (IoT), the adoption of biometric authentication, the implementation of cybersecurity precautions, and the application of smart surveillance systems.
What Are The Core Factors Supporting Growth In The Public Safety And Security Market?
The escalating cases of transnational and regional instability are anticipated to bolster the public safety and security market. This type of instability pertains to the political unrest in neighboring nations. Public safety and security measures aim to safeguard citizens and infrastructure from national and international threats and dangers. For example, the U.S. Customs and Border Protection, a U.S. government agency, reported in September 2024 that there was a significant increase in nationwide encounters to 3,201,144 in 2023, up from 2,766,582 in 2022. This is indicative of a considerable uptick in interactions when compared to the preceding year. Thus, the rising levels of transnational and regional instability are projected to fuel the public safety and security market.
What Are The Major Segments Within The Global Public Safety And Security Market?
The public safety and security market covered in this report is segmented –
1) By Component: Services, Solutions
2) By Vertical: Homeland Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, Other Verticals
Subsegment: Critical Communication Network, Biometric And Authentication System, Surveillance System, Emergency And Disaster Management, Cyber Security, C2/C4ISR Networks, Scanning And Screening System, Public Address And General Alarm, Backup And Recovery Systems, Professional Services, Managed Services
Subsegments:
1) By Services: Consulting Services, Installation And Integration Services, Maintenance And Support Services, Training And Education Services, Monitoring And Response Services
2) By Solutions: Surveillance Systems (CCTV, Drones), Access Control Systems, Alarm And Emergency Response Systems, Communication Systems, Cybersecurity Solutions, Incident Management Software
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Which Trends Are Expected To Transform The Public Safety And Security Market?
The emergence of product innovations is a rising trend in the public safety and security market. Firms in this industry are primarily focusing on creating novel products to enhance their market standing. For instance, Teledyne FLIR LLC, a firm in the USA that specializes in thermal imaging cameras and sensors, unveiled SIRAS in September 2022. This is an industrial inspection and public safety drone specifically designed for data security, operational efficiency, and cost-effectiveness. It is purposed for applications like industrial and utility inspection, public safety measures, firefighting actions, and search and rescue operations. It features a quick-connect payload system that facilitates swift swapping between dual radiometric thermal and visible camera payloads and other payloads like lidar and multispectral sensors. Moreover, SIRAS has front collision avoidance sensors to reduce the risk of accidents.
Who Are the Key Players In The Public Safety And Security Market?
Major companies operating in the public safety and security market include:
• Accenture Plc.
• AGT International
• Atos SE
• BAE Systems plc
• Cisco Systems Inc.
• Elbit Systems Ltd.
• Ericsson
• Fotokite
• L3Harris Technologies Inc.
• Hitachi Ltd.
• Huawei Technologies Co. Ltd.
• Northrop Grumman Corporation
• NEC Corporation
• Teltronic S.A.U.
• Thales Group
• Halma plc
• Brady Corporation
• Securitas AB
• ADT Inc.
• Allegion plc
• Federal Signal Corporation
• Honeywell International Inc.
• Motorola Solutions Inc.
• International Business Machines Corporation (IBM)
• General Dynamics Corporation
• CentralSquare Technologies LLC
• Hexagon AB
• Environmental Systems Research Institute Inc. (Esri)
• Sun Ridge Systems Inc.
• Telstra Corporation Limited
• Axis Communications AB
• Bosch Security Systems
• Genetec Inc.
• Hanwha Techwin Co. Ltd.
• Johnson Controls International plc
• Nice Ltd.
• Panasonic Corporation
• Qognify Inc.
• Verint Systems Inc.
• Zhejiang Dahua Technology Co. Ltd.
What Is The Most Dominant Region In The Public Safety And Security Market?
North America was the largest region in the public safety and security market in 2024. The regions covered in the public safety and security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
