SecurityWorldMarket

29/03/2018

Public safety analytics markets forecast to reach 11.29B USD by 2022

Northbrook, Il (USA)

The latest Marketsandmarkets resesarch report on public safety analytics predicts that the market is expected to grow from USD 5.22 billion in 2017 to USD 11.29 billion by 2022, at a compound annual growth rate (CAGR) of 16.7% during the forecast period.

According to the analysts, the public safety analytics market has gained traction due to the rise in the criminal activities and terrorist attacks across border controls and needs to safeguard the public from various physical threats. Increased adoption Internet of Things (IoT) and connected devices for public safety across government agencies are expected to drive the public safety analytics market over the next 5 years.

The person of interest screening segment is expected to play a key role to change the public safety analytics market landscape and the researchers suggest this segment will grow at the highest CAGR during the forecast period. This application helps public safety agencies and government agencies in criminal investigations to identify the convict of an offence. In addition, it has one of the most advanced features for public safety and has been deployed in various public infrastructures, such as airports, train stations, government and public buildings, and border control, resulting in a high growth rate.

On the other hand, the hosted deployment mode segment is expected to be the fastest-growing segment, as it offers organisations with increased scalability, speed, round the clock services, and improved management capabilities. In addition, these hosted services offer the pay-per-use pricing model. Moreover, such hosted or cloud-based public safety analytics solution and services are available in accordance with the customer’s demand, wherein enterprises could start, stop, or modify any service as per their requirement.

in terms of geography, not surprisingly, North America is expected to have the largest market size in the public safety analytics market, due to the presence of a large number of public safety solution providers and early adoption trends in the region. However, the Asia Pacific (APAC) region is expected to be the fastest-growing area during the forecast period, due to factors, such as growth in need to meet the demand for the general public to ensure safety and security from potential crimes and disasters and rise in investment in the smart city initiatives. Furthermore, the market in regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the surge in technological proliferation across industry verticals, such as public transportation security, law enforcement and intelligence agency, border control, critical infrastructure security.

The major vendors cited by the analysts as being active in the public safety analytics market include Hexagon, IBM , Cisco, NEC, SAP, Esri, SAS, Nice Systems, Verint Systems and various others.


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