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Public and Personal Safety Market Trends

ID: MRFR//2078-HCR | 100 Pages | Author: Aarti Dhapte| April 2024

Public and Personal Safety Market Overview

Public and personal safety is an umbrella term as it refers to the security measures that are taken to provide safety from all types of criminal activities. TheĀ public and personal safety marketĀ is growing at a faster pace mainly due to the increase in the number of criminal activities, terrorism, and natural disaster. The growth of the market is also supported by safety features. The market growth is increasing as the vendors are offering advanced products consisting of innovative features at reasonable prices.

TheĀ global public and personal safety marketĀ is expected to reach a value of USD 518 billion by 2023. To reach this value, the market would have to obtain a CAGR of 13% during the forecast period. The growth of the market is also supported by a few major factors like population, increasing urbanization, and upgrading the economic conditions of the country. Along with this, advanced and user-friendly technologies have taken the market to another new level.

Ā Public and Personal Safety Market

COVID-19 Analysis

Due to the sudden outbreak of the COVID-19 pandemic, governments in various countries imposed strict lockdown and social distancing norms. During this time, many industries were impacted. Among all industries,Ā public and personal safety businessĀ also felt a huge impact. Only the healthcare centers were earning a huge revenue as they were continuously fulfilling the people with medical supplies and life support.

Market Dynamics

  • Market Drivers

During the outbreak of the COVID-19 pandemic, the CDC or the Centers for Disease Control and Prevention in the US and other such agencies all over the world have made certain recommendations to protect the people of their respective countries. Many technology companies are trying to help the first responders with various innovative and unique products to safeguard them as well as their families.

  • Market Opportunities

The speed at which new technologies are invented is increasing year over year. In order to protect some critical infrastructures from attacks, connected devices are trying to generate more information that can give actionable insights. The CCTV systems are now integrating advanced big data analytics.

  • Market Restraints

Ensuring the security and safety of the public is a priority for every government across the world. TheĀ marketĀ provides a wide variety of not only hardware components but also its software solution along with it. The governments of different countries are installing various communication networks, surveillance systems, emergency and disaster management systems, biometric security and authentication systems, scanning and screening systems. The maintenance cost of such safety and security solutions is around 40% of the TCO or Total Cost of Ownership. Hence, with the rise in the population, the cost of installing such security systems is also increasing. Such high installing costs may restrain the growth of theĀ public and personal safety market.

  • Market Challenges

The major challenge faced by theĀ public and personal safety marketĀ is the lack of enough storage and capacities for data management. The public and personal safety agencies are assimilating different digital solutions like in-car cameras, body-worn cameras, and high-quality video surveillance in order to give authentic evidence against the criminals and also to carry out sting operations. Though body-worn cameras provide enough benefits of public safety security they can also create challenges like data security.

  • Cumulative Growth Analysis

TheĀ globalĀ public and personal safety marketĀ are expected to grow at a considerable rate in the forecast period, which is between 2021 and 2023. With the rising number of criminal activities, cross-border terrorism, and natural disasters, the necessity for surveillance systems and their authentication is also increasing. These factors are responsible for the constant growth of theĀ public and personal safety market.

Technology Analysis

TheĀ public and personal safety marketĀ relies upon mainly IP-based solutions for dispatch communications. With the introduction of 5G in the market and advancements in LTE, the growth of the public and personal safety market has increased. This report mainly focuses on theĀ Public and Personal Safety Market Trends, value at the company level, regional level, and global level.

Market Segment Overview

According to theĀ Public and Personal safety analysis, the market of public and personal safety is segmented into four categories. They are ā€“ by service, by solution, by component, and by industry verticals. Here are the sub-segments of the four divisions.

Public and Personal Safety Service

  • Managed Services which include Managed Network Services and Managed Security Services.

  • Professional Services which include support and maintenance, design and consulting, installation and integration, training, and education managed services.

Public and Personal Safety Solution

  • Cybersecurity

  • Surveillance system

  • Biometric and Authentication System

  • C2/C4ISR System

  • Critical Communication Network

  • Emergency and Disaster Management

  • Scanning and Screening System

  • Backup and Recovery System

  • Public Address and General alarm

Public and Personal Safety Component

  • Service

  • Solution

Public and Personal Safety Vertical

  • Border Control

  • Public Transportation Security

  • Automotive and Logistics

  • Firefighting Services

  • Medical Services

  • Law Enforcement and Intelligence Agencies

  • Homeland Security

  • Manufacturing

  • Emergency Services

  • Disaster Management

  • Energy and Chemicals

  • Critical Infrastructure Security

Regional Analysis

North America is leading theĀ global public and personal safety marketĀ due to its high demand for safety features and the continuous adoption of new advanced technologies. The growth opportunity for this market also enhances due to the BFSI industry in that region. Among other North American countries, the US is currently leading the growth in theĀ public and personal safety industry.

In terms of volume and size, the market for public and personal safety in Europe is quite large. The public and personal safety market of the Asia Pacific region is appearing to be a promising market due to its few best manufacturers and technological advancements. China, among all other Asia Pacific countries, has got one of the largest publics and personal safety markets.

Competitive Landscape

TheĀ global public safety and security market industryĀ is coming up with new strategies as many new companies are joining the market which includes Cisco System, AGT International, Honeywell, Huawei, and many others.

List of Key Companies

  • Esri (US)

  • AGT International (Switzerland)

  • Honeywell (France)

  • Haystax Technology (US)

  • Huawei (China)

  • IDEMIA (France)

  • Teltronic (Spain)

  • Verint Systems (US)

  • Motorola Solution (US)

  • Rave Mobile Safety (US)

  • NEC (Japan)

  • Hexagon (Sweden)

  • Elbit Systems (Israel)

  • Alcatel-Lucent Enterprise (France)

  • BAE Systems (UK)

  • Siemens (Germany)

  • NICE (Israel)

  • Atos (France)

  • Cisco Systems (US)

Recent Developments

  • A company named Motorola Solutions introduced two new products in the market which are the L5Q License Plate Recognition Camera and the Avigilon Cloud Services 3.8. These are the two solutions that helped to ensure the safety and security of the public.

  • Cisco Systems announced the accessibility of Cisco SecureX in June 2020, which is a cloud-native security platform. Again in July 2020, Cisco bought Fluidmesh networks to support the increasing demand for wireless critical applications. The technology of Fluidmesh offers zero loss of data transfer within any high-speed assets. In the same month, Cisco added some new functionalities in its intent-based networking portfolio. The new functionalities include Indoor loT services to maintain the physical spaces' safety and Cisco DNA spaces which was for Return to Business.

  • Honeywell, in May 2020, introduced a temperature monitoring solution which was Artificial Intelligence. It was named as ThermoRebellion temperature. In June, Honeywell once again introduced another solution, Honeywell Forge Cybersecurity Suite which offered asset discovery capabilities and cybersecurity risk monitoring. These helped industries to embrace remote operations quickly.

Report Overview

This report is a detailed research based on the various other factors that are responsible for theĀ public and personal safety market growthĀ during the forecast period. This report also provides a qualitative and quantitative analysis of various segments that are related to theĀ public and personal safety market. The information in this report is gathered from both first-hand and second-hand sources. The public and personal safety research report will also give you detailed knowledge about the recent developments that took place. The factors that play a major role in the growth of the market are drivers, challenges, restraints, and opportunities.Ā 

Report Detail

  • Historic Period: 2018-2021

  • Base Year: 2021

  • Forecast Period: 2021-2023

By Geographically

  • Europe

  • North America

  • Latin America

  • Asia Pacific (APAC)

  • The Middle East and Africa

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