The global Public Safety Analytics market is predicted to reach USD 12.51 billion in 2024 and USD 29.12 billion by 2029, growing at a CAGR of 18.4% during the forecast period.
Concerns about public safety are the primary drivers of the market. Public transportation security, law enforcement and intelligence agencies, critical infrastructure securities, border controls, manufacturing, and emergency services are expected to increase investments, which will further drive the Public Safety Analytics Market.
Increased government spending to curb criminal and terrorist activities is also a significant public safety analytics market driver. Economic constraints are the most significant restraints on the market. Public safety devices are expensive due to constant R&D work to improve the products.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
18.4% |
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Segments Covered |
By Component, Analytics, Application, Deployment Mode, Industry Vertical, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), Haystax (US), and others. |
Based on the component, the Solution had a larger market share as of 2019. These solutions have been designed to identify, prevent, respond to, and prepare for an emergency event. The identity analytics solutions in the solution segment are expected to dominate the market during the forecast period.
Based on the application, surveillance has the largest market share by miles due to its very high demand all across the globe and relatively low price than other segments.
Based on the deployment model, the organized deployment mode segment has a more significant market share as it requires less capital investment, helps decrease operational and maintenance costs, and reduces the management’s efforts.
North America has the largest Public Safety Analytics market share as of 2018. Development & adoption of innovative technologies, apart from being the R&D hub of Public Safety Analytics, are driving the growth of North America's Public Safety Analytics market.
Asia-Pacific is the fastest-growing market for Public Safety Analytics. The growth of the Public Safety Analytics market across the Asia-Pacific region is primarily driven by the escalating demand for better security services, a large population, and a rising standard of living. Border control is a big issue in some APAC countries such as India, Pakistan, China, etc., further strengthening the market requirement for Public Safety Analytics.
The major market players in the Public Safety Analytics market include Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), Haystax (US), and others.
Five tech companies developing public safety tools, from magnetic sensors to drones to augmented reality, for use in hazardous environments will be the first cohort working in Verizon’s dedicated 5G First Responder incubator lab.
By Component
Solution
Social media analytics
Identity analyticsSensor data analytics
Others (crowd analytics, speech analytics, and text analytics)
Service
System integration
Support and maintenance
Consulting services
By Analytics Type
Predictive
Prescriptive
Descriptive
By Application
Pattern Recognition
Incident detection
Person of Interest Screening
Surveillance
By Deployment Mode
On-premises
Hosted
By Industry Vertical
Law Enforcement and Intelligence Agencies
Border Control (Land, Sea, and Air)
Public Transportation Security
Critical Infrastructure Security
Others (manufacturing and emergency services)
By Region
North America
Asia Pacific
Europe
Latin America
Middle East & Africa
Frequently Asked Questions
Emerging trends in the public safety analytics market include the integration of AI and machine learning algorithms for predictive analytics, the adoption of cloud-based analytics platforms for scalability and flexibility, and the development of real-time monitoring and alerting systems for rapid response to emergencies.
Some of the key challenges faced by the public safety analytics market include concerns regarding data privacy and security, interoperability issues among various systems and agencies, and the lack of skilled professionals to effectively utilize and manage analytics tools.
Advancements in AI technologies such as natural language processing, image recognition, and predictive modeling empower public safety analytics solutions to automate data analysis processes, extract actionable insights from unstructured data sources, and detect anomalies or potential threats with greater accuracy and efficiency.
Key players in the global public safety analytics market include IBM Corporation, Hexagon AB, Cisco Systems, Inc., NEC Corporation, and Motorola Solutions, Inc., among others. These companies are focusing on strategic partnerships, product innovation, and mergers and acquisitions to expand their product portfolios, enhance their technological capabilities, and gain a competitive advantage in the market.
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