According to FMI’s estimate, the outdoor public safety market will grow at a CAGR of 10.3% during the forecast period. The market is expected to be valued at US$ 478.26 billion in 2023, rising to US$ 1,274.74 billion by 2033.
The market is expected to grow at a solid CAGR in the future years as individuals seek security solutions in response to rising security concerns. The outdoor public safety market is expected to rise steadily due to key drivers such as increased need for security education and awareness and an increase in terrorist incidents.
With important public safety systems such as authentication systems, scanning and screening systems, and critical communication networks, among others, the government plays a critical role in prioritising the security of individuals and organisations. Safe mobility, cybersecurity, and accessibility are just a few of the important benefits that public safety systems give.
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Public safety and security departments manage emergency situations, execute security operations, and safeguard residents from threats, crime, and political unrest. The rise in security breaches is one of the primary factors driving the growth of the outdoor public safety industry.
Terrorist attacks are becoming more common, resulting in the deaths of many people and massive infrastructure damage, necessitating the need for outside public safety and services, as well as homeland security. Terrorist incidents were responsible for 0.05% of global deaths in 2017, according to Our World in Data.
Every year, technological innovation accelerates, creating a substantial possibility for the outdoor public safety sector to flourish. Ancillary devices generate a large amount of data that can be used to provide meaningful insights for warning and safeguarding infrastructure from assaults. However, one of the major challenges impeding the growth of the outdoor public safety market is the high cost of installation and maintenance for public safety systems.
Highlights from the Outdoor Public Safety Market
- North America leads the global outdoor public safety market capturing a market share of 35.1% of the global outdoor public safety market. It is leading the market due to the presence of several leading public safety and security manufacturers.
- Technological developments, the widespread use of smartphones, and the flourishing e-commerce industry are a few other factors anticipated to fuel the North America market.
- Asia Pacific market is also growing significantly due to the increasing cyber threats and terrorist attacks.
- Europe has a sizable market share holding a market share of 23.6% of the global market due to the increased capital investment to improve cooperation and monitoring systems for safety and security.
- Based on solution type, the emergency and disaster management segment is estimated to lead among other segments.
- The homeland segment captures a notable share of the market based on End User type.
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Competitive Analysis:
Key players in the outdoor public safety market aim at following a few important strategies including collaborations, mergers, novel product releases, and approvals to increase the product sales rate and reinforce their position in the market. These players also focus on getting a competitive edge in the market with the adoption of these effective strategies.
A few leading players operating in the outdoor public safety market include Cisco, Motorola Solutions, Inc., Hexagon AB, Paessler AG, NORTHROP GRUMMAN CORPORATION, Kroll, and Honeywell.
Key Segments
By Solution:
- Critical Communication Network
- Biometric Security and Authentication System
- Surveillance System
- Scanning and Screening System
- Emergency and Disaster Management
- Cyber Security
- Public Address and General Alarm
- Backup and Recovery System
By End User:
- Homeland Security
- Emergency Services
- Industrial
- Others
By Services:
- Professional Services
- Managed Services
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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