Market Highlights:
The steadfast growth of global economy in recent years has encouraged new urban and rural infrastructure development efforts in various parts of the world. The onset of smart city concept can be liked with these development agendas primarily to tackle many of the third-world issues with public safety being one of the top-priorities. Many of the fast-developing countries in Asia, Latin America and the Middle-East are making heavy investments in smart city concepts, which has also led to an increased sales of public safety solutions and systems. The market size for public safety solutions for smart cities is expected to surpass USD 299 Bn by the year 2023. Public safety solutions find application in public transportation security, critical infrastructure security, medical emergency services, and disaster management among others. The current rate of urbanization is favorable for the market with new growth opportunities likely to arise in the near future.
This market perspective delivers detailed information on public safety solution for smart cities. It also highlights the current trends in the smart city landscape along with market potential in the future. The assessment of the global market for public safety solution for smart city covers all the critical parameters, which enable investors to gain a pragmatic view of the market. The scope of research covers revenue analysis of different types of public safety solutions such as critical communication network, biometric security and authentication system, emergency and disaster management, backup and recovery system, public address and general alarm and surveillance system. Market analysis based on services (professional services and managed services) is also available in the research document.
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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 Solution for Smart City 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.
Segmentation:
Segmentation by solution: critical communication network, biometric security and authentication system, emergency and disaster management, backup and recovery system, public address and general alarm, surveillance system.
Segmentation by services: professional service, managed services.
Segmentation by application: public transportation security, critical infrastructure security, disaster management, medical emergency service, firefighting services, law enforcement and intelligence agencies, others.
Segmentation by region: North America, Europe, Asia-Pacific and rest of the world.
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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
TABLE 5 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SERVICES
TABLE 6 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY APPLICATION
TABLE 7 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY REGION, 2016-2023
TABLE 8 NORTH AMERICA PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY COUNTRY
Continued……
List of Figures
FIGURE 1 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET: MARKET STRUCTURE
FIGURE 2 NORTH AMERICA MARKET SIZE BY COUNTRY (2017 VS 2023)
FIGURE 3 NORTH AMERICA MARKET SHARE BY COUNTRY (2017)
FIGURE 4 EUROPE MARKET SIZE BY COUNTRY (2017 VS 2023)
Continued……
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