Public Safety Solution for Smart City Industry Size To Expand at a Notable CAGR Of 24.8% During 2017-2023

Pune, India, December, 2018, MRFR Press Release/- Market Research Future published a cooked research report on Global Public Safety Solution for Smart City Industry.

Market Scenario

The Global Public Safety Solution for smart city market is presumed to garner USD 299 billion during the forecast period (2017-2023). The Global Market is likely to register 24.8% CAGR owing to the rapid globalization, asserts Market Research Future (MRFR). Public safety solutions for smart city are known to be one of the developing technology trends that transform the data collected from different sources to a centralized entity in order to permit a quick response for emergencies. As public security is a growing problem across the world, cities are using intelligent technologies to connect private and public stakeholders to make cities smarter, sustainable, and safer.

Drivers and Constraints Impacting the Market:

With rapid globalization and urbanization, the global public safety solution for smart city market is presumed to fuel the market growth during the appraisal period. Also, job creation and industry growth in the metro cities have directly influenced the demand for public safety solutions in the past few years. The rising demand for internet of things has also led to enhancements in professional services for public safety in smart cities. Public safety solutions are incorporated for application across the world in public transportation, critical infrastructure security, disaster management, and medical emergency services. Moreover, transit agencies and smart cities have joined forces in order to deploy IoT in transportation security models to simplify proper commutation in the metro cities, which has further contributed to the market growth during the review period. With the increasing disposable income coupled with high per capita income levels, the market is likely to boost in the coming years. Also, the scarcity of security personnel is highly motivating the development of the market.

On the flip side, the high price of such products and lack of skilled workforce for operating such services are likely to dampen the growth of the market in the coming years.

Global Public Safety Solution for Smart City Market: Segmental Analysis:

The Global Public Safety Solution for smart city market has been segmented on the basis of solution, services, application, and region.

By mode of solution, the global public safety solution for smart city market has been segmented into biometric security & authentication system, critical communication network, backup & recovery system, emergency & disaster management, surveillance system, and public address & general alarm. Among these, the critical communication network segment is considered to dominate the global market with 25.7% CAGR.

By mode of services, the global public safety solution for smart city market has been segmented into managed service and professional service. Among these, the managed service is considered to be the fastest growing segment with a CAGR of 26.3%.

By mode of application, the global public safety solution for smart city market has been segmented into critical infrastructure security, public transportation security, medical emergency service, disaster management, law enforcement, firefighting services, and intelligence agencies. Among these, the public transportation security leads the segment with a CAGR of 26.2%.

Regional Insights:

Geographically, the public safety solution for smart city market span across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).

Among all the regions, North America is considered to dominate the global market owing to the technical developments and high adoption of cloud technology along with IoT in this region. Moreover, the United States is estimated to be the prime public safety solution for smart city market and has produced revenue around USD 15,746.5 million.

The Asia Pacific region is presumed to hold a significant role in the market owing to the rapid urbanization coupled with smart city projects and industrialization.

Browse more details on this report at: https://www.marketresearchfuture.com/reports/public-safety-solution-smart-city-market-2738

Industry Updates:

December 07, 2018: The State of Nevada, Nippon Telegraph and Telephone Corporation, and City of Las Vegas, one of the world’s largest ICT companies have recently announced an agreement to accelerate and advance smart technologies following a Smart City proof of concept.

Competitive Dashboard

The prominent players operating the global public safety solution for smart city market are Motorola Solutions Inc. (U.S.), Honeywell International Inc. (U.S.), Alcatel-Lucent (France), Harris Corporation (U.S.), Northrop German Corporation (U.S.), Cisco Systems Inc. (U.S.), Thales Corporation (France), International Business Machines Corporation (U.S.), NEC Corporation (Japan), and Huawei Technologies (China).