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Public Safety and Security Market Predicted to Surge to $461.8 Billion by 2030

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RAJUL BIJOLE
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Meticulous Research®, a leading global market research company, has published a research report titled "Public Safety and Security Market by Offering (Safety Devices, Safety Software, Safety Services), Technology (IoT, AI, Cloud Computing, ML), Application (Data Gathering, Mapping, and 3D Imaging), End Use (Warehouses & Depots, Workplaces, Shopping Malls & Retail Stores) and Geography - Global Forecast to 2031."

According to this latest publication from Meticulous Research®, the global public safety and security market is projected to grow from $234.2 billion in 2024 to $514.1 billion by 2031, reflecting a compound annual growth rate (CAGR) of 11.9%. The market's expansion is primarily driven by the increased use of AI, ML, and analytics in safety and security applications, rising awareness and initiatives for public safety, and government efforts to address the needs of growing urban populations. However, substantial initial investments required for these solutions may hinder market growth. Opportunities lie in the integration of cloud computing and big data analytics, alongside the increasing incidence of terrorism and security breaches. Challenges include the complexities of implementing advanced systems and the rise in data theft incidents.

The global market is segmented by offering, technology, application, end use, and geography, with an evaluation of industry competitors and analysis of country and regional markets.

Segment Analysis:

By Offering:

  • Safety Devices, Safety Software, Safety Services

    • In 2024, safety services are expected to dominate the market due to the growing demand for specialized services addressing specific safety and security challenges, such as critical infrastructure security, emergency medical services, firefighting, and disaster management. This segment is also projected to have the highest CAGR during the forecast period.

By Technology:

  • IoT, AI, Cloud Computing, ML, Cybersecurity, Other Technologies

    • The Internet of Things (IoT) is expected to hold the largest market share in 2024, driven by the need for real-time data insights and improved situational awareness. This segment is also anticipated to register the highest CAGR during the forecast period.

By Application:

  • Data Gathering, Mapping and 3D Imaging, Threat Detection, Security and Incident Management, Monitoring, Fire and Explosion Examination, Network Security, Other Applications

    • The security and incident management segment is projected to account for the largest market share in 2024, supported by the need for effective emergency responses, the adoption of smart city technologies, and IoT integration. This segment is expected to experience the highest CAGR during the forecast period.

By End Use:

  • Warehouses & Depots, Workplaces, Shopping Malls & Retail Stores, Schools & Universities, Hospitals & Healthcare, Residential, Transportation, Other End Uses

    • The transportation segment is anticipated to hold the largest market share in 2024, driven by concerns over terrorist threats and passenger safety, advances in contactless ticketing, and AI-based video analytics for crowd monitoring. However, the hospitals and healthcare segment is forecasted to have the highest CAGR during the forecast period.

By Geography:

  • North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

    • North America is expected to dominate the market in 2024 due to the increasing adoption of digital technologies and data. Europe, however, is projected to register the highest growth rate during the forecast period.

Key Players:

Major players in the global public safety and security market include Hexagon AB (Sweden), Fujitsu Ltd. (Japan), Robert Bosch GmbH (Germany), Atos SE (France), Cisco Systems, Inc. (U.S.), Saab AB (Sweden), Airbus SE (Netherlands), Siemens AG (Germany), Intel Corporation (U.S.), Fotokite AG (Switzerland), CityShob (Israel), 3xLOGIC (U.S.), L3Harris Technologies, Inc. (U.S.), OnSolve (U.S.), and Haystax (U.S.).

Download Sample Report Here @ meticulousresearch.com/download-sample-repo..

Key Questions Answered in the Report:

  • Which are the high-growth market segments by offering, technology, application, end use, and geography?

  • What is the historical market size for the global public safety and security market?

  • What are the market forecasts and estimates for the period 2024–2031?

  • What are the major drivers, restraints, opportunities, and challenges in the global market?

  • Who are the major players, and what are their market shares?

  • How is the competitive landscape of the global public safety and security market?

  • What are the recent developments in the market?

  • What strategies are adopted by major players?

  • What are the key geographic trends and high-growth countries?

  • Who are the local emerging players, and how do they compete?

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