Public and Personal Safety Market Summary
According to the new market research report "Global Public and Personal Safety Market Report 2023-2029", published by QYResearch, the global Public and Personal Safety market size is projected to grow from USD 7,166 million in 2023 to USD 18,265 million by 2029, at a CAGR of 16.9% during the forecast period.
Public and personal safety describes the security measures that are designed to provide safety against all types of attacks, thefts, threats and others. Public and personal safety is a broad term, the personal safety refers to the freedom from physical harm and threat of physical harm, and freedom from hostility, aggression, harassment and others whereas public safety refers to welfare and protection of public from dangers affecting safety such as crimes or disasters.
The representative players in global Public and Personal Safety market are Hexagon, Motorola Solutions Inc, NEC, Tyler Technologies Inc and Indra Sistemas, accounting for 24.50% market share in terms of revenues in 2022.
In terms of product type, Cloud-based is the largest segment, hold a share of 76%,
In terms of product application, Government is the largest application, hold a share of 33%,
Market Drivers:
The adoption of advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), big data analytics, and cloud computing is transforming the public and personal safety landscape. These technologies enable real-time monitoring, predictive analysis, and improved decision-making for enhanced safety outcomes.
Governments and urban planners are investing in smart city initiatives to enhance the safety and security of urban areas. Smart city solutions integrate various technologies, including surveillance systems, traffic management, emergency response systems, and IoT sensors, to create safer and more efficient cities.
With the increasing digitization of safety systems, the risk of cyber threats and vulnerabilities is also rising. Ensuring robust cybersecurity measures and adopting secure communication protocols are critical to safeguarding public and personal safety infrastructure.
Limate change and natural disasters have increased the emphasis on environmental safety. Solutions for early warning systems, disaster management, and environmental monitoring are gaining importance to mitigate risks and protect communities.
The global public and personal safety market is expanding as governments and organizations worldwide recognize the importance of investing in safety measures. Emerging economies and regions are experiencing rapid growth opportunities due to rising urbanization and infrastructure development.
Restraint:
Collecting and managing sensitive personal data for safety purposes raises privacy concerns. Striking the right balance between ensuring safety and protecting individual privacy rights can present challenges, leading to hesitation in implementing certain safety initiatives.
Geopolitical factors, local customs, and cultural differences can impact the adoption and implementation of safety solutions. Different regions may have varying priorities, regulations, and approaches to safety, which can complicate the development and deployment of standardized solutions.
Many organizations still rely on outdated legacy systems and infrastructure, which may not be compatible with modern safety technologies. The cost and complexity of upgrading existing systems can act as a restraint to embracing new safety solutions.
Opportunity:
Technological advancements play a significant role in driving the growth of the safety market. Emerging technologies such as artificial intelligence, Internet of Things (IoT), big data analytics, and cloud computing provide new opportunities for innovative safety solutions, enhancing incident detection, response, and prevention capabilities.
Rising security threats, such as terrorism, crime rates, natural disasters, and cybersecurity breaches, have led to a heightened focus on public and personal safety measures. Governments, organizations, and individuals are investing in safety solutions to mitigate risks and protect lives and assets.
High-profile incidents, natural disasters, and global health crises highlight the need for robust safety measures. Such events drive awareness, prompt governments and organizations to invest in safety solutions, and encourage individuals to take proactive measures for personal safety.
About The Authors
Chaoqun Ma
Lead Author
Email: machaoqun@qyresearch.com
Tel: +86-15101526754
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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