Public Safety and Security Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Public Safety and Security Market is Segmented By Component (Solutions, Services), By Solutions (Critical Communication Network, Biometric Security & Authentication System, Others), By End-User (Home & Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, Others), By Services (Professional Services, Managed Services), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Public Safety and Security Market Overview

The global public safety and security market is growing at a high CAGR during the forecast period (2024-2031).

The government's public security and safety service guarantees that its citizens, institutions, and organizations are safe and secure against threats. Customers benefit from features such as rapid application development, cybersecurity, accessibility, and secure mobility provided by the public safety and security system.

With increasing criminal activities, natural disasters, infrastructure attacks, and cross-border terrorism, authentication, and monitoring systems are becoming more important. Due to the rise in demand, more predictive data-controlled security measures, such as installing a public safety communication infrastructure, are required. These variables drive the public health and safety market.

Public Safety and Security Market Scope

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Public Safety and Security Market Dynamics

Rising instances of terrorist activities and security, the need for security training & awareness, and increasing law enforcement requirements for public safety amid COVID-19 are the primary factors driving the public safety and security market. Furthermore, the growing trend of IoT in public safety will aid the vendor in growing the market for public safety and security.

The increasing security breaches and terrorist activities

Concerns regarding the safety and security of assets, people, and processes have grown as crime rates and terrorist activities have increased. The rising number of attacks has resulted in the deaths of several people and severe infrastructure damage, emphasizing the need for public safety and security solutions.

Terrorist operations have been on the rise around the world. Organized crimes rise has presented a danger to national and international security. Criminal networks are growing and diversifying their operations, posing new challenges to public safety, public health, and democratic institutions and threatening global economic stability.

Growing adoption of big data analytics

Year after year, the rate of technological advancement accelerates. Connected devices provide massive volumes of data that can be used to provide meaningful insights about how to defend critical infrastructure from cyber-attacks. Data analytics is the study of historical data to gain meaningful insights. Big data analytics study enormous volumes of structured or unstructured data.

Pattern recognition and anomaly detection are used to clean and preserve data collected from various security equipment, which can help public safety organizations and security professionals better understand the suspect in a crime and prevent future crimes. Advanced big data analytics capabilities are combined with various CCTV monitoring systems to improve criminal reaction times.

High costs of installation and maintenance

Governments all across the world are focused on ensuring public safety and security. Many physical components and software solutions are used in public safety and security systems. Critical communication networks, biometric security & authentication systems, surveillance systems, scanning & screening systems, and emergency & disaster management systems all cost a lot of money to governments. Small security expenditures (38%) are one of the top five security issues for guaranteeing public safety internationally, according to the F5 State of Application Delivery report 2020.

Effective and frequent maintenance is required to ensure that public safety and security solutions remain dependable. Maintenance costs account for roughly 40% of the Total Cost of Ownership for public safety solutions (TCO). While government regulations and law enforcement agencies work to ensure the public's safety, health and welfare, high-level public safety facilities are not cost-effective.

COVID-19 Impact on Public Safety and Security Market Growth

The COVID-19 pandemic had a major impact on the public safety and security business. The supply chain for public safety and security sensors has severely impacted every region. Many projects have had their public safety and security deployments suspended due to a shortage of personnel. A shortage of hardware is impacting the market. Platforms for public safety and security will likely increase steadily, with businesses focusing on large-scale smart infrastructure scaling.

Many manufacturers recognize the benefits of remote monitoring solutions among software solutions. Because of the drop in the sale of technological hardware equipment during the pandemic, the physical installation and integration of components were considerably hampered. As a result of the pandemic's influence on the supply chain, many manufacturing plants reduced production, resulting in a slowdown in demand for public safety and security products among the industrial units.

Public Safety and Security Market Segment Analysis

By component, the public safety and security market is segmented into solutions and services.

The rising need for services to drive the growth

The solutions and services needed to safeguard the public and public infrastructure comprise the component section of the public safety and security market. End users can purchase these components individually or as part of a package of solutions and related services from service providers. The public safety sector is always looking for better ways to safeguard cities, infrastructure, businesses, and residents.

The public safety and security sector has been divided into managed and professional services. The managed services sector has included managed security services (MSS) and managed network services. The professional services section includes design & consulting, installation & integration, support & maintenance, and training & education.

Public Safety and Security Market Geographical Share

The rising threat landscape in Asia-Pacific

Due to the ever-rising threat landscape, Asia-Pacific governments are very concerned about increasing security spending. India, Japan, and Singapore have amended or created national cybersecurity regulations to deal with increasingly complex attacks. Organizations in the Asia-Pacific region are anticipated to spend a lot of money to deal with data breaches. Terrorist attacks and cyberattacks have become increasingly common in the region, prompting India, China, Australia, Japan, Malaysia, and Singapore to implement world-class public safety and security systems.

The Australian government has appointed the National Counterterrorism Coordinator to assist the Prime Minister in developing policies. China has tightened its security measures in the Xinjiang Uyghur Autonomous Region and installed surveillance and perimeter security systems and solutions. Surveillance systems, scanning & screening systems, and key communication networks are in high demand in Asia-Pacific, driving up demand for public safety and security technologies. The Indian government concentrates its efforts on infrastructure development and improving security at airports, ports, and refineries.

Public Safety and Security Companies and Competitive Landscape

Market participants aim to provide sophisticated public safety and security solutions to increase governments' ability to manage emergencies successfully. Research and development teams at companies like General Dynamics, Harris Corporation, and Cisco Systems, Inc. are building cutting-edge technology systems. Many companies that supply public safety and security solutions also design and manufacture weapon systems for the military.

Furthermore, some solution suppliers, such as Harris Corporation and General Dynamics, collaborate closely with government agencies to deliver public safety and security solutions. For example, the U.S. Department of Homeland Security's Customs and Border Protection (CBP), the country's major border control department, received 9,000 sophisticated public safety radios from Harris Corporation in 2019. The XL-200P radio was developed with public safety specialists to fulfill the DHS's performance and operational needs.

Major global public safety and security market companies include IBM Corporation, Honeywell International, Motorola Solutions, Hexagon AB, General Dynamics, L3HRRIS Technology, Alcatel-Lucent Enterprise, BAE Systems, SmartCone Technologies, and Siemens AG.

IBM Corporation

Overview: International Business Machines Corporation, or IBM, is a leading American computer manufacturer with a sizable local and international market share. The headquarters of IBM are in Armonk, New York. The Computing-Tabulating-Recording Company was formed in 1911 when three smaller companies that made punch-card tabulators and other office equipment joined to establish the Computing-Tabulating-Recording Company. The company now has over 40,000 active patents, which generate significant revenue in royalties.

Product Portfolio: The company's segments are Cloud & Cognitive Software, Global Business Services (GBS), Systems, and Global Financing. The Cloud & Cognitive Software Solutions category offers clients integrated and secure cloud, data, and artificial intelligence (AI) solutions. It encompasses three business areas: cognitive apps, cloud & data platforms, and transaction processing platforms.

IBM's smart, modern identity solutions make it possible to interact with users, assets, and data frictionless and safe. The IBM Law Enforcement Investigative Platform combines hybrid cloud, artificial intelligence, and intelligent workflows to help law enforcement agencies meet their mission objectives of serving and protecting citizens.

Key Development: UK’s Science Minister Amanda Solloway announced a five-year, US$ 227.3 million cooperation with IBM in June 2021. Its mission is to help UK businesses and the public sector reduce the risk of exploring and adopting innovative new digital technologies like artificial intelligence (AI) and quantum computing by removing practical barriers to innovation like infrastructure and digital skills gaps within their organizations. The collaboration will increase productivity, create new skilled employment and support regional and national economic growth by hastening enterprises' adoption of new digital technologies.