Public Safety Market Research Report: Growth, Trends and Forecast to 2025

DUBLIN, April 9, 2020 /PRNewswire/ -- The "Public Safety Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

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The global public safety market was valued at USD 11.15 billion in 2019, and it is expected to reach USD 50.64 billion by 2025, registering a CAGR of 29.9.%, during the forecast period of (2020-2025).

Increasing awareness about the importance of security, replacement of obsolete architecture, rise in hazardous industrial explorations, among other factors is expected to drive the demand for public safety software.

Governments are increasingly trying to develop intelligent mitigation plans to minimize the response time and damage caused by both natural and man-made disasters, which is expected to drive the market.

Factors, such as high installation cost and lack of interoperability between legacy and advanced security systems are hindering the market growth. In addition, data security concerns due to the evident threat of cyber-attacks on public safety and security systems also persist. The concerns over privacy and surveillance have also been recognized as major challenges for public safety companies to adopt software solutions.

Governments across regions are investing in enhancing their surveillance and communication systems. For instance, in 2018, the Boston Police Department (BPD) invested in the full spectrum of public safety which accounts to almost 3.8% or USD 14.6 million increase over the previous fiscal year.

As part of their mission to safeguard the citizens, BPD was reported to be focusing on new technological improvements, including the rollout of additional mobile devices, security upgrades at the evidence storage facility, additional automatic license plate recognition cameras, and also the department-wide USD 56 million radio replacement project. Such investments are evident across regions and are indicative of the increasing reliance on technology solutions.

Key Market Trends

Cloud Deployment to Witness the Largest Growth

    --  Considering the lean budgets, public service organizations have been
        increasingly opting for cloud-based applications rather than
        on-premises. Also, as cloud deployment would eliminate the need for
        agencies to acquire infrastructure and also reduce the expense of
        software infrastructure, such as SQL licenses, the cloud-based
        deployments are being preferred.
    --  Vendors in the market offering new software delivery models, such as
        Public Safety as a Service, PSaaS, are providing the public safety
        organizations with hosted and cloud deployment options, which allows
        agencies to focus on keeping people and property safe and not on
        managing complex hardware and software infrastructure.
    --  Public safety organizations also find that these deployment options
        streamline the maintenance and upgrade process, which happen to be
        significant factors for agencies with on-premises software.
    --  Moreover, factors, such as advancement of cloud security and cost
        benefits of utilizing SaaS model, are expected to benefit not only the
        law enforcement agencies but also other end users of the market
        (firefighting, medical, and transportation), thus enabling them to serve
        and protect the public in an efficient way.

United States Presently has the Largest Share

    --  The stringent governmental regulations for industrial safety is one of
        the factors driving the demand for public safety in the United States.
        The Patriot Act of 2001 identified a number of locations and areas that
        require security, such as agriculture and food, emergency services,
        defense, IT, energy and power, transportation and shipping, banking,
        chemical and hazardous manufacturing industry, and national monuments,
        among others.
    --  The National Infrastructure Protection Plan (NIPP) has been revised to
        identify 16 critical sectors susceptible to attacks. Implementation of
        this plan has increased the demand for public safety solutions in those
        16 sectors.
    --  Moreover, the crime rate in the United States is a more serious issue,
        which the government is trying to address through public safety.
        Traditionally, the crime rate decreased drastically since 1992, when the
        government first introduced digital initiatives in law and order.
        However, there has been a slight increase in the crimes committed in
        recent years, since 2014.
    --  There has been a significant increase in the number of mass shootings in
        the United States. In 2018 alone, the United States faced 12 mass
        shootings in a school. Apart from that, the US prison is overflowing,
        with almost 2.6 million prisoners, as of 2018.
    --  The United States represented about 4.4% of the total world's population
        in prison in 2018, according to the data by the US Bureau of Justice
        Statistics. This has posed new challenges for law enforcement and due to
        the lack of police officials, the country is dependent on digital public
        safety measure to manage law and order related activities.
    --  Public safety and disaster management integration is being used to
        reduce those losses.

Competitive Landscape

In the public safety market, the competitive rivalry among the existing players lies between moderate and high and is expected to increase, considering the inflow of new entrants into the market. Acquisitions, partnerships with industry participants, and new product/service rollouts have been key competitive strategies exhibited by vendors in the market. As a software service, companies are involved in continuously updating their solutions and offering them within their service period. New product developments also offer an edge over the others.

Some key developments in the market include:

    --  March 2019 - General Dynamics Information Technology announced to
        support the Defense Threat Reduction Agency through its new information
        technology support services contract vehicle. The award will allow GDIT
        to compete on individual task orders in support of DTRA's mission and
        technology domains. The multiple-award, indefinite delivery, indefinite
        quantity (IDIQ) contract holds a total estimated value of USD 535
        million. It includes a five-year base period with one five-year option.
    --  March 2019 - Harris Corp. in Rochester delivered 9,000 state-of-the-art
        public safety radios to the United States Department of Homeland
        Security's (DHS) Customs and Border Protection (CBP) the first order of
        a USD 25.7 million contract Harris received to produce 17,000 radios for
        CBP. Specifically, CBP's order is for Harris Corp.'s XL-200P radio that
        was designed in cooperation with public safety experts to best suit
        their operational needs.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Number of Global Catastrophic Accidents, Crime Rates, and Terrorist Activities
4.3.2 Rising Adoption of IoT and Growth in Smart Cities
4.4 Market Restraints
4.4.1 Costs, Lack of Inter-Operability, and Security Concerns
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Software
5.1.1.1 Record Management
5.1.1.2 Investigation Management
5.1.1.3 Location Management
5.1.1.4 Criminal Intelligence
5.1.1.5 Crime Analysis
5.1.1.6 Other Software
5.1.2 Services
5.2 By Deployment Type
5.2.1 On-premise
5.2.2 Cloud
5.3 By End-user Vertical
5.3.1 Law Enforcement
5.3.2 Medical
5.3.3 Firefighting
5.3.4 Transportation
5.3.5 Other End-user Verticals
5.4 Geography
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 UK
5.4.2.3 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Rest of Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cisco Systems Inc.
6.1.2 General Dynamics Corporation
6.1.3 IBM Corporation
6.1.4 Ericsson Inc.
6.1.5 Harris Corporation
6.1.6 NEC Corporation
6.1.7 Atos SE
6.1.8 Motorola Solutions Inc.
6.1.9 Aptean Corporation (Vista Equity Partners)
6.1.10 Hexagon AB
6.1.11 Esri Inc.
6.1.12 Sun Ridge Systems Inc.
6.1.13 Telstra Corporation Limited

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/px6rt7

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