Yahoo Finance Global Public Safety and Security Market Size to Exceed US$713 Bn Through 2026 End
According to Fairfield Market Research Global Public Safety and Security Market is Anticipated to Register A CAGR Of 10.6% During the Forecast Period 2021 to 2026
London, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Critically growing need for developing resilient cybersecurity strategies to obtain an impenetrable security net around all the digital and physical assets of organizations is boosting the revenue growth of public safety and security market. Demonstrating an impressive CAGR of around US$10.6% between 2021 and 2026, global public safety and security market is all set for a promising outlook over the next few years. In a recently published report of Fairfield Market Research, the public safety and security market has been projected to take a leap from US$361.2 Bn (2019) to US$713.4 Bn by the end of year 2026. Increasing security breaches, and the consistently soaring threat of identity theft instances primarily drive the market growth. During the period of projection, 2021 – 2026, the public safety and security market revenue will nearly double, suggests the report.
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Key Research Insights
ID fraud instances soared by a whopping 45% in the year 2020 as per the reports of the Federal Trade Commission (FTC)
Cloud-enabled security solutions continue to be the most sought-after
North America’s public safety and security solutions market is poised to exhibit a solid 10% CAGR through the end of 2026
Insights into Segmental Analysis
Identity thefts, although have been the most commonplace cyberattack, there are several other types of cyberattacks as well, that are also proliferating at a rampant pace in terms of intensity, volume, and the level of sophistication. The analysis of market based on the component shows dominance of public safety and security services over public safety and security solutions. The trend will prevail throughout the period of assessment and the report spots the maximum demand and revenue generation potential in managed services. Demand for managed services has been higher and will clearly outweigh that of the professional services through the end of 2026. On the other hand, inclination toward cloud-enabled solutions is expected to rise high at an exponential rate in the next few years according to the report.
Key Report Highlights
The enterprise world faces several cybersecurity risks with the rampantly improving connectivity, and growing dependence on the digital-first work environment
Swelling demand and consumer base for proactive public safety and security solutions will contribute toward the market expansion to a large extent
With big data analytics capturing attention of a growing number of public safety organizations worldwide, prospects of public safety and security market continue to heighten
Governments remain a largely influential factor in shaping public safety and security market as they play a crucial role in prioritizing national security
Insights into Regional Analysis
The report dedicates one section to the detailed regional analysis of global public safety and security market, which suggests continued primacy of North America – majorly on the back of strong, favourable government commitments regarding national security. The region remains at the forefront of frontier technologies and has been poised to exhibit around 10% growth through 2026 end. The report further indicates robust growth in attractiveness of Asia Pacific as the fastest growing market for public safety and security services and solutions. The region is anticipated to significantly benefit from the unprecedentedly thriving IT industry, and rampant digitalization. China, Japan, India, and Singapore will represent the key Asian markets, says the report.
Leading Players in Global Public Safety and Security Market
Cisco Systems, IBM, NEC Technologies India Private Limited, Thales Group, Honeywell International Inc., AGT Group GmbH, Nokia, Motorola Solutions, General Dynamics Corporation, Huawei Technologies Co.
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REPORT SCOPE
Report Attributes | Details | |
Base Year | 2020 |
|
Forecast Year | 2021 – 2026 | |
Market Size in 2019 | US$361.2 Bn | |
Estimated Market Size in 2026 | US$713.4 Bn | |
CAGR | 10.6% |
|
Key Players | Cisco Systems, IBM, NEC Technologies India Private Limited, Thales Group, Honeywell International Inc., AGT Group GmbH, Nokia, Motorola Solutions, General Dynamics Corporation, Huawei Technologies Co. | |
Market Segmentation
Components Coverage
Solutions
Services
Verticals Coverage
Homeland Security
Emergency Services
Critical Infrastructure Security
Transportation Systems
Other Verticals
Solution Coverage
Critical Communication Network
C2/C4ISR Networks
Biometric Security and Authentication System
Surveillance System
Scanning and Screening System
Emergency and Disaster Management
Cybersecurity
Public Address and General Alarm
Backup and Recovery System
Leading Companies
Cisco Systems
IBM
NEC Technologies India Private Limited
Thales Group
Honeywell International Inc.
AGT Group GmbH
Nokia
General Dynamics Corporation
Huawei Technologies Co.
Motorola Solutions
Report Inclusions
Market Estimates and Forecast
Market Dynamics
Industry Trends
Competition Landscape
Component-wise Analysis
Solution-wise Analysis
Vertical-wise Analysis
Region-wise Analysis
Country-wise Analysis
Key Trends Analysis
COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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