Public Safety Solution For Smart City Market Analysis

Global Public Safety Solution for Smart City Market Overview

Public Safety Solution for Smart City market was valued at USD 642.65 billion in 2023 and is expected to reach USD 2603.93 billion by the year 2032, at a CAGR of 16.82%.

According to the analyst, Public Safety Solution for Smart City market is expected to show high demand and growth in CAGR because of the high growth in the population in developing countries like India, China, and Japan. Due to the high growth in population, the government is focusing on developing smart cities making an increased and fast-paced growth for the Public Safety Solution for Smart City market.

Due to the third world issues and the fast-paced technological growth in developing countries the market for public safety solutions for smart city is expected to increase in the forecast period. The high demand for intelligence agencies and disaster management is expected to lead Public Safety Solution for Smart City market in the forecast period. Regions like Asia-Pacific, MEA, and North-America are leading the market due to the onset of developing new smart cities which develops fragmented data in large values that increase the sales of the public safety solution market.

By the end of 2027, the Public Safety Solution for Smart City market size is estimated to be at USD 1179.49 billion due to the need in Law enforcement and Intelligence agencies.

Public Safety Solution for Smart City market is growing at a robust pace due to the industry overview and Public Safety Solution for Smart City market size in regions like Asia-Pacific and North-America. The Public Safety Solution for Smart City market is segmented by solution, services, and application type, and regional market size according to the analyst of Introspective market research.

 Key market players and competitors are focusing on various strategic activities involving research and development to explore the applications of Public Safety Solution for Smart City market. Mergers and acquisitions, facility expansions, and related investments are expected to be the most researched and invested type for end-user industries like Business Intelligence, healthcare, defence, and wholesale market for the products.

Market Trend Analysis :

Advancements in Smart Infrastructure Development

• The Public Safety Solution for Smart City Market is experiencing significant growth, driven by several key factors. One of the primary drivers is the increasing demand for public safety and the continuous advancements in infrastructure. As urbanization and globalization increase, cities face growing challenges in maintaining security for their expanding populations. The rapid development of infrastructure is enabling the integration of smart technologies, enhancing the efficiency and effectiveness of public safety solutions.
• The lack of skilled security personnel poses a challenge in ensuring public safety across urban environments. As a result, cities are turning to advanced technologies, such as surveillance systems, IoT devices, and AI-based solutions, to bridge the gap and reduce the reliance on human intervention. These solutions enable cities to proactively monitor and address security threats, reducing the burden on an already strained workforce.
• The rising rates of crime worldwide are compelling cities to adopt smarter public safety systems. The increased frequency of cyber threats, natural disasters, and civil unrest requires more robust and adaptable security measures. These concerns drive the demand for innovative public safety solutions, contributing to the overall growth of the smart city market. As cities continue to evolve, the need for enhanced public safety solutions will only continue to escalate, fueling market expansion.

Enhanced Public Security in Eco-Friendly Urban Environments

• The growing environmental concerns and the increasing demand for green innovations are significant driving forces behind the opportunities in the Public Safety Solutions for Smart City Market. As urban areas are responsible for a substantial portion of global energy consumption and carbon emissions, addressing these challenges is crucial to ensuring public safety and reducing environmental harm. The unchecked release of greenhouse gases (GHG) contributes to global warming and ozone depletion, directly impacting both the environment and the quality of life for urban residents.
• These environmental challenges present an opportunity to develop smart cities that not only prioritize sustainability but also enhance public security and safety. The adoption of smart city solutions, such as energy-efficient infrastructure, renewable energy sources, and advanced public safety technologies, can significantly reduce carbon emissions and minimize energy wastage. These solutions integrate technologies such as intelligent traffic management, surveillance systems, and emergency response systems, ensuring a safer and more environmentally friendly urban environment.
• Smart cities offer the potential for improved disaster management, early warning systems for natural hazards, and optimized resource management, leading to reduced environmental impact and enhanced public safety. With increasing awareness of climate change and urban sustainability, the demand for such solutions is expected to rise, opening significant growth prospects for businesses offering public safety technologies and services tailored for smart cities.

Market Segmentation

• In Solution Type,

• Emergency and Disaster Management and Surveillance system are dominating Public Safety Solution for Smart City due to the need in the multinational companies for the security of the database generated in their system. Also, the government and public sector are more focused on the public alarms and the security in the pandemic which has impacted the growth of the public safety solution market.

• In Application Type,

• Public Transportation Security and Intelligent Agencies are expected to dominate the market with a CAGR of 16.92% and 16.45% respectively. 

• Competitive Landscape:

• Public Safety Solution for Smart City market is advancing as the need for the end-user industries is increasing over the years. Public Safety Solution for Smart City market is consolidated and Public Safety Solution for Smart City market share and revenue is distributed among the major key players for the forecast period. The industries offer products for specific end-usage applications and the product type. With the increase in demand, the new product development, merger & acquisitions, and research & development strategies are expected to have high growth potential in the global Public Safety Solution for Smart City market during the forecast period.

Salient Features of the Public Safety Solution for Smart City Market

• The growing demand for the safety of huge databases in the multinational and the corporate is the growing need for the Public Safety Solution for Smart City market.
• Additionally, Public Safety Solution for Smart City market share and revenue owing to the growing need and consumption in the firefighting and law enforcement industry has given a robust growth for the market size.
• In the solution type segment, the System emergency and disaster management segment is accounted to have the largest Public Safety Solution for Smart City market share in 2019 for public and government confidential data due to the increasing market size for the corporate.
• Professional services for Public Safety Solution for Smart City market have also emerged as the fastest-growing segment for the Public Safety Solution for Smart City market due to the businesses expecting more optimized and secured data for the growing multinationals in the Public Safety Solution for Smart City.
• China and India have emerged as a major consumer and producer of Public Safety Solution for Smart City and houses the largest service provider region. But after the COVID-19 pandemic, the companies have been affected by the Public Safety Solution for Smart City market due to the delay in services in all the industrial companies.
• The growth in the end-user industries and the high demand in the telecom industry are expected to lead Public Safety Solution for Smart City market in the forecast period.
• North-America is the fastest emerging region due to the robust growth of the IT industry in the region.

Major Key Players Considered in the Market

• Cisco systems
• NEC Corporation
• Thales Corporation
• International Business Machine Corporation
• Honeywell International
• Huawei Technologies
• Northrop German Corporation
• Alcatel-Lucent, Harris Corporation
• Motorola Solutions and other major players.

Key Industry Development in the Public Safety Solution for Smart City Market:

• In July 2023, Videonetics unveiled its cutting-edge AI-powered Unified Video Management Platform at Secutech Vietnam 2023, targeting the Southeast Asia market. The platform, designed to support the vision of a safe and smart city, equipped multiple agencies with advanced tools to address real-world challenges, extending beyond traditional security monitoring. This innovative solution showcased Videonetics' commitment to enhancing city management and public safety with smart, integrated technology.
• In March 2023, Business Technologies (IBTech) and Software AG have announced their successful partnership to develop mission-critical public safety systems across the MEA region. This collaboration follows their successful involvement in a prominent megacity project in Saudi Arabia, where both companies worked together to enhance the region’s public safety infrastructure. The partnership aims to deliver cutting-edge solutions to support the evolving needs of public safety in the region.