Public Safety And Security Market By Service (Managed Services And Professional Services), Vertical (Homeland Security, Manufacturing, Emergency And Disaster Management), Solution (Critical Communication Network, & Cyber Security), & Region For 2024-2031

Public Safety And Security Market Valuation – 2024-2031

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Public Safety And Security Market is likely to develop throughout the forecast period. Rising government mitigation strategies to reduce reaction time and damage from man-made and natural disasters are expected to enhance market growth. Rising smart city projects, an increase in the use of IoT for safety and security, and an increase in criminal activity are some of the drivers for the Public Safety And Security Market during the projection period. Some of the factors driving market expansion include the increasing use of IoT-enabled devices to share and connect information for coordinated choices, as well as escalating terrorist threats. The market size surpass USD 518.57 Billion valued in 2023 to reach a valuation of around USD 1285 Billion by 2031.

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Furthermore, government officials in all regions are heavily investing in safety and security by pooling funds for communication and monitoring systems. Due to budget constraints, public sector firms are choosing cloud-based apps over on-premises systems, which will incur significant costs for setup and maintenance. The rising demand for cost-effective and efficient public safety and security is enabling the market grow at a CAGR of 13.25% from 2024 to 2031.

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Public Safety And Security Market: Definition/ Overview

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Public safety and security refer to a wide range of actions and efforts designed to protect the well-being, rights, and property of individuals within a community or society as a whole. At its heart, public safety refers to the collaborative efforts of governments, law enforcement agencies, emergency services, and communities to prevent and minimize risks posed by a variety of dangers, including crime, natural disasters, accidents, terrorism, and public health emergencies. It entails the creation and enforcement of laws, regulations, and norms that aim to maintain order, improve resilience, and reduce harm.

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The concept of public safety goes beyond law enforcement and includes proactive methods for risk assessment, preparedness, and reaction. This includes measures like community policing, crime prevention programs, disaster preparedness training, public health education campaigns, and infrastructure development projects that attempt to improve resilience to various risks.

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The government offers public safety and security to safeguard individuals, organizations, and infrastructure against threats such as terrorism, natural disasters, fraud, smuggling, and others.

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How can the Public Safety And Security Market Adapt to Address the Terrorist Activities and Security Breaches?

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The Public Safety And Security Market is experiencing an increase in demand as terrorist activities and security breaches occur more frequently. With crime rates on the rise and terrorism becoming more prevalent, there is a greater sense of urgency in protecting assets, individuals, and vital processes. These disturbing trends are resulting in a high number of human casualties and infrastructure damage, emphasizing the importance of strong public safety and security measures.

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According to data from the US Department of State, terrorist attacks have increased significantly over the world. The global expansion of organized crime endangers not just national sovereignty but also international stability. Criminal syndicates are broadening their reach and diversifying their operations, resulting in a convergence of hazards to public safety, health, and the fundamental pillars of democracy. These risks have far-reaching consequences that influence global economic balance.

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In response to these pressing concerns, the Public Safety and Security industry is rapidly evolving, driven by technological, policy, and collaborative breakthroughs. Stakeholders from the government, business, and civil sectors are stepping up their efforts to create and implement cutting-edge solutions that may successfully minimize risks and protect populations. From advanced surveillance systems to proactive intelligence-gathering approaches, the landscape of public safety and security solutions is always evolving to meet the changing nature of threats in the modern world.

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How can the Public Safety And Security Market Balance High Installation and Maintenance Costs?

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A significant barrier in the Public Safety And Security Market is the high cost of installing and maintaining vital systems. Governments around the world prioritize public safety and security, necessitating expenditures on a wide range of hardware and software components. These include essential communication networks, biometric authentication systems, surveillance infrastructure, screening technologies, and emergency response systems.

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However, the financial expense of implementing such complete solutions is a significant barrier, especially as minimal security budgets were listed as one of the top five security concerns in the F5 State of Application Delivery Survey 2020.

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Furthermore, the ongoing maintenance of public safety and security solutions accounts for roughly 40% of the total cost of ownership (TCO). Regular maintenance is required to ensure the stability and functionality of these devices in order for them to remain successful in protecting communities. Despite the government’s and law enforcement agencies’ continuous commitment to public safety, the economic feasibility of high-level security institutions remains a major concern. Balancing the need for security with budgetary prudence needs new ideas and collaborative efforts within the Public Safety and Security business to successfully solve the issue of high installation and maintenance costs.

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Category-Wise Acumens

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Will Natural Disaster Surge Demand for Public Safety & Security Technologies?

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Throughout the projected period, the emergency and disaster management segment is expected to grow at a rapid pace. As natural or man-made disasters like earthquakes, hurricanes, cyclones, typhoons, and tsunamis become more common, safety agencies are increasingly employing emergency and catastrophe management systems. It gives users access to critical documentation such as risk assessments, protocols, guidebooks, and emergency contacts.

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Because each nation’s government is constantly working to improve domestic safety and security, the homeland security category has the largest Public Safety And Security Market share. In the United States, for example, the National Infrastructure Protection Plan (NIPP) is based on National Strategy for Homeland Security procedures for physical protection of critical infrastructure, as well as cyberspace and vital assets.

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Will Critical Communication Network Dominate the Public Safety And Security Market?

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In Public Safety And Security Market, emergency responders such as police, fire departments, and ambulances employ critical communication networks (CCNs), which are very reliable and secure. Their value stems from the fact that they allow for smooth communication during critical occasions. CCNs are becoming a prominent player as the public safety budget increases and inter-agency coordination becomes more important.

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Emergency responders such as police, fire departments, and ambulances employ critical communication networks (CCNs), which are very reliable and secure. Their value stems from the fact that they allow for smooth communication during critical occasions. CCNs are becoming a prominent player as the public safety budget increases and inter-agency coordination becomes more important.

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Surveillance Systems or video surveillance is becoming more widespread in public safety, with applications including traffic monitoring, crime prevention, and border security. Advances in AI-powered video analytics have increased its effectiveness. This, combined with increased concerns about terrorism and criminality, strengthens their market position.

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Emergency and disaster management the rising frequency and severity of natural catastrophes, along with the development of cyber risks, make EDM solutions a quickly developing market. These solutions include tools for risk assessment, emergency response coordination, and resource management, all of which are essential for effective disaster preparedness and recovery.

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Country/Region-wise Acumens

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How will Public Safety And Security Market Fare in North America?

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North America leads the worldwide Public Safety And Security Market, with the highest number of providers. The region, which includes the United States and Canada, has the most modern infrastructure and a high level of cyber technology use. The North American market is predicted to develop due to the widespread use of smartphones, the expanding e-commerce industry, and technological advancements in competitive regions.

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Public safety and security have been identified as the most serious economic and national security problem for regional administrations. In recent years, the growing need to protect key infrastructure and sensitive data has prompted more government involvement. Governments in this region are increasingly focusing on implementing more Intrusion Detection System/Intrusion Prevention System (IDS/IPS) solutions across many departments, particularly in healthcare and training assistance programs.

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Over the years, growing budgets and incentives have encouraged a number of major players to make large investments in this region. Various government and law enforcement agencies in the United States and Canada are improving the security infrastructure.

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For instance, the Canadian government developed a Cyber Incident Response Center to detect and eliminate cybersecurity incidents. With terrorist organizations increasingly exploiting the internet for fundraising and propaganda purposes, the Canadian government is launching public awareness and outreach campaigns to educate individuals about the potential hazards of cyberspace. The US and Canadian governments collaborate with law enforcement to prevent violent extremism and counterterrorism initiatives.

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Will Rise in Demand for Security and Safety in Asia Pacific Fare the Public Safety And Security Market?

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Due to the ever-changing danger scenario, Asia Pacific governments are profoundly concerned about increasing security costs. To address increasingly complex attacks, India, Japan, and Singapore have amended or introduced new national cybersecurity regulations. Organizations in the Asia Pacific area are projected to spend a significant amount of money to deal with cyber security breaches. The region’s increasing terrorist acts and cyberattacks have caused massive damage, prompting India, China, Australia, Japan, Malaysia, and Singapore to implement world-class public safety and security measures.

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The Australian Government has appointed a National Counterterrorism Coordinator to assist the Australian Prime Minister in developing policies. China has implemented stronger security procedures, including monitoring and perimeter security systems in the Xinjiang Uyghur Autonomous Region. The Asia-Pacific area is seeing an increase in smart city projects, which is driving up demand for public safety and security technology like surveillance systems, scanning and screening systems, and essential communication networks. The Indian government focuses on infrastructure development and improving security procedures at airports, ports, and refineries.

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Competitive Landscape

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The Public Safety And Security Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

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The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the Public Safety And Security Market include:

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NEC Corporation, ESRI, Northrop Grumman Corporation, Thales Group, Cisco Systems, Inc., IBM Corporation, AGT International, Honeywell International, Inc., Alcatel-Lucent S.A., Huawei Technologies Co. Ltd., Cisco Systems, Inc., Motorola Solutions, Inc., Siemens, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Johnson Controls, Hexagon AB, IDEMIA, General Dynamics Corporation, Esri Global, Inc., L3Harris Technologies, Inc., ALE International, ALE USA, Inc., BAE Systems.

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Latest Developments

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• In January 2022, Honeywell announced a strategic investment in RapidSOS. Honeywell’s Connected Life Safety System (CLSS) will be linked to the RapidSOS emergency response data platform to enhance public safety communications capabilities.

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• In December 2021, Honeywell purchased US Digital Designs to expand its portfolio of public safety communications solutions, which it intends to merge with its Fire and Connected Life Safety systems division.

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• In February 2021, Cisco and Openpath, a pioneer in touchless, modern access control and automated workplace safety, collaborated.

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Report Scope

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Public Safety And Security Market, By Category

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Service:

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• Managed Services_x000D_
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  1. Managed Network Services

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  2. Managed Security Services

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• Professional Services_x000D_
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  1. Design And Consulting

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  2. Training And Education Managed services

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  3. Support And Maintenance

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  4. Installation And Integration

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Vertical:

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• Homeland Security_x000D_
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  1. Border Control

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  2. Law Enforcement And Intelligence Agencies

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  3. Critical Infrastructure Security

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  4. Public Transportation Security

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• Manufacturing_x000D_
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  1. Automotive And Logistics

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  2. Energy And Chemicals

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• Emergency And Disaster Management_x000D_
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  1. Firefighting Services

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  2. Disaster Management

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  3. Medical Services

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Solution:

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• Cyber Security

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• Critical Communication Network

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• Biometric Security And Authentication System

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• Backup And Recovery System

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• Emergency And Disaster Management

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• Surveillance System

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• C2/C4ISR System

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• Scanning And Screening System

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• Public Address And General Alarm

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Region:

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• North America

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• Europe

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• Asia-Pacific

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• South America

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• Middle East & Africa

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Research Methodology of Market Research:

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Reasons to Purchase this Report:

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Provision of market value (USD Billion) data for each segment and sub-segment
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• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
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• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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