Market Highlights:
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.
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.
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Major Key Players:
- Cisco Systems, Inc. (U.S.),
- NEC Corporation (Japan),
- Thales Corporation (France),
- International Business Machines Corporation (U.S.),
- Honeywell International Inc. (U.S.),
- Huawei Technologies (China),
- Northrop German Corporation (U.S.),
- Alcatel-Lucent (France),
- Harris Corporation (U.S.),
- Motorola Solutions Inc. (U.S.).
According to MRFR, The global Public Safety Solutions Market, which valued USD 60.2 billion in 2016, is expected to exhibit a highly promising CAGR of 24.8% during the forecast period of 2017 to 2023, and reach an evaluation of USD 299.36 billion by the end of 2023.
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.
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.
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Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- Global infrastructure suppliers
- Communications component providers
- Smart grid and energy management companies
- Big data, analytics, and information processing companies
- Telecom Service Providers.
List of Tables
TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 RESTRAINTS IMPACT ANALYSIS: PUBLIC SAFETY SOLUTIONS FOR SMART CITY MARKET
TABLE 4 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SOLUTION (USD MILLION) (2017-2023)
TABLE 5 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SERVICES (USD MILLION) (2017-2023)
TABLE 6 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY APPLICATION (USD MILLION) (2017-2023)
TABLE 7 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY REGION, 2016-2023 (USD MILLION)
TABLE 8 NORTH AMERICA PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY COUNTRY (USD MILLION) (2017-2023)
Continued……
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