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The global public safety and security market size was USD 394.40 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with public safety and security witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a significant growth of 10.2% in 2020. The public safety and security market is projected to grow from USD 434.73 billion in 2021 to USD 867.92 billion in 2028 at a CAGR of 10.4% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Public safety and security are vital for economic development and the community’s well-being. Improvements can only be witnessed when government embraces the infrastructure and technologies that allow intelligence departments to gather, understand, analyze, and detect activities in real-time. Using smart technologies such as the internet of things (IoT), artificial intelligence, network devices, and technologies enables communities to protect critical infrastructure, improve public safety, and positively affect residents’ lives.
Governments of developed and developing countries combine hardware, software, location services, sensors, and the internet to improve local services' efficiency and increase livability in urban areas. Existing city infrastructure typically comprises a network of closed-circuit surveillance cameras and video that cover public areas. Installing and upgrading newer digital surveillance significantly enhances an entity’s ability to prevent crime, improve public safety and security. For instance,
Limited Budget for Defense and Homeland Security During Crises Has Impacted Market Growth
The COVID-19 pandemic is an unprecedented crisis that has made cities and state governments worldwide face severe challenges in keeping their city safe. The measures taken by the government (lockdown, restriction of movement, and others) to control the spread of the virus are exceptional and have enforced law enforcement bodies to adapt their systems, resource management and surveillance methods to tackle the situation. Many companies have developed new security devices to support security professionals in their work in these crucial times. For instance,
However, the pandemic has severely impacted most government sectors, thereby limiting the budgets for defense and homeland security and slowing down the commercial aviation market. In 2020, the pandemic's uncertainty was primarily linked to lockdowns in almost all countries, causing disruptions in the supply chain and affecting civilian operations' market conditions.
In the long term, the public safety and security industry is anticipated to show progressive growth. The nature of military and homeland security requirements, such as low-intensity conflicts and terrorist activities, will increase demand for technological solutions that incorporate robotics, automation, Big Data analytics, artificial intelligence, and information assurance. Also, the demand for C4ISR systems, network-centric information systems, cyber-defense systems, border and perimeter security systems, intelligence gathering systems, unmanned aircraft systems, precision munitions, remote controlled systems, protection systems, and other homeland security solutions is expected to rise with increasing government budget.
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Growing Smart City Projects to Drive Demand for Public Safety and Security Solutions
Along with the growing economic, political and cultural activities, crime and threats such as trafficking, terrorism, industrial accidents, and natural disasters are also growing rapidly. Ensuring citizens’ safety, improving quality of life and city attractiveness for tourists and businesses are the primary tasks of urban authorities. Therefore, smart city projects are being deployed in many parts of the world to safeguard citizens' lives with advanced devices.
Smart cities help in reducing crime and assist departmental officers in responding to emergencies quicker than usual. For instance, Oakland, a city in the United States, installed a gunfire locator with microphones across the city which allowed the nearest patrol car to get there quickly. Similarly, Mexico has set the bar with its cloud-based security initiative. Since the past three years, the city has deployed 58,000 new cameras for video surveillance on public transport for public safety and security. Through this installation, the city aims at reducing crimes drastically. Such devices can monitor public places and infrastructure, thereby enhancing citizens’ experiences.
Thus, smart cities projects are gaining popularity to counter potential terrorist strikes, combat crime, and create safer environments for people.
Digital Transformation in Security Operations to Propel Market Growth
Increasing digitization, connectivity and data fuel digital transformation. This transformation occurs across industries to create new services, improve operational efficiencies and enhance customer satisfaction. It drastically changes how security organizations operate and increases public safety and security provision as digital transformation has digitized security operations due to a more networked and data-led approach. For instance,
Thus, digital transformation in security operations is fueling public safety and security market growth.
Cyber Risk and Law Enforcement Liability Might Hamper Market Growth
Although smart technologies offer captivating advantages to law enforcement and other security departments, some challenges exist for which public entities must also be prepared for potential risks. For instance,
Apart from this, limited budgets, aging or missing infrastructure, data storage and retention, and ongoing maintenance are considerations that must be weighed. Also, protecting citizen rights and identities is a significant concern in public safety and security activities.
Surge in Deployment of Cameras and Video Devices to Increase Sale of Surveillance Systems
On the basis of components, the market has been segmented into solutions and services. The solution segment is categorized into critical communication network, cybersecurity, emergency and disaster management, C2/C4ISR system, surveillance system, scanning and screening system, biometric security and authentication system, public address and general alarm systems, and backup and recovery system.
The surveillance systems capture the maximum public safety and security market share due to the growing deployment of cameras and video surveillance systems for public safety. This system helps law enforcement departments to monitor suspicious activities in real-time and take action as soon as possible.
Emergency and disaster management is anticipated to show the highest growth during the forecast period. Growing natural or man-made disasters such as earthquakes, hurricanes, cyclones, typhoons, or tsunamis encourages safety departments to deploy emergency and disaster management solutions. It provides access to the information required during an emergency, such as safety information, protocols, manuals, and emergency contacts.
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Adoption of Technologically Advanced Solutions to Improve Security of Transit Systems Set to Boost Demand for Transportation System
Based on the vertical, the public safety and security market has been segmented into homeland security, emergency services, critical infrastructure security, transportation systems and others (public places, stadiums, and commercial offices).
Among these, the homeland security segment holds the largest public safety and security market share due to the continuous efforts by every country’s government to improve their national safety and security. For instance, the National Infrastructure Protection Plan (NIPP) in the U.S. is built on the National Strategy for Homeland Security protocols for the physical protection of critical infrastructure, securing cyberspace and key assets.
The transportation system is anticipated to show the highest CAGR in the coming years. The growth is attributed to the adoption of technologically advanced public security and safety solutions to manage and improve the security of transit systems. For instance, a surge in the deployment of intelligent transportation systems under smart city initiatives is likely to drive the growth of transportation systems over the forecast period.
North America Public Safety and Security Market Size, 2020 (USD Billion)
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Geographically, the public safety and security market is segmented into five regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. These regions are further fragmented into countries.
North America is anticipated as a dominant region in the global public safety and security market owing to recurring government investments to improve the existing security infrastructure to tackle illegal immigration and terrorism. Also, U.S. and Canada are homes to several security and safety solutions providers such as General Dynamics and Cisco Systems, Inc.
Asia Pacific is likely to be the fastest-growing region in the near future. Increasing crime rates, rapid urbanization, cross-border terrorism, and illegal immigration are expected to be the key factors fueling the Asia pacific public safety and security market growth. Moreover, the growing number of smart city projects in this region is anticipated to boost the market growth.
Europe accounts for a significant market share due to rising investment by governments in improving their communication and surveillance systems for safety and security purposes.
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Furthermore, the Middle East, Africa, and South America invest in high-end solutions for building connected cities to attract business and commerce.
Continuous Developments is Key Strategy to Strengthen Company’s Position
The key players in the public safety and security market strive to offer advanced safety and security solutions to the government to improve their capabilities to effectively cope with emergencies. Companies are also investing in research and development activities to develop cutting-edge technology systems.
March 2021 – Kroll acquired Redscan, a cyber-security services provider, to expand its Kroll Responder capabilities to support a broader array of on-premises and cloud telemetry sources.
June 2021 – Cisco acquired Kenna Security, Inc. to resolve security challenges with Kenna’s risk-based vulnerability management platform. Cisco would be integrating Kenna’s security risk-management technology into Cisco's Secure X platform.
An Infographic Representation of Public Safety and Security Market
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The public safety and security market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, it provides insights into the latest industry and market trends and analyzes technologies deployed at a rapid pace at the global level. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.
Value (USD billion)
Component, Vertical, and Geography
The projected market value of the global market is USD 867.92 billion in 2028.
In 2020, the market was valued at USD 394.40 billion.
The market is projected to grow at a CAGR of 10.4% during the forecast period.
The professional services lead the services segment.
Digital transformation in security operations to drive market growth
Kroll, LLC, Cisco System, Hexagon AB, SAAB, Alcatel-Lucent Enterprise, Atos, BAE Systems, Elbit Systems, and others are the top players.
North America has the highest market share.
Emergency and disaster management to witness higher adoption rate in coming years.
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