Public Safety Solution for Smart City Market Analysis 2021-2027

Market Highlights

Market Research Future (MRFR) reveals, the global Public Safety Solution Market is expected to garner a lucrative CAGR over the forecast period and attain a valuation of USD 299 billion by 2023.

Market Insights

The fourth revolution has resulted in rapid globalization, which has created extensive job opportunities. As a result, an upsurge in urban migration has been observed. Hence, urbanization and increase in industrial activities are major factors that are observed to underpin the expansion of the worldwide public safety solution for smart city market.

The rise within the demand for Internet of Things, AI, and other technologies, and their active adoption across different verticals is enabling enterprises to deliver better professional safety solutions for the security of the general public in smart cities.

Public safety solutions are deployed for public transportation, disaster management, critical infrastructure security, and medical emergency services. Additionally, transit agencies also are making a deliberate effort to include IoT within the transportation security models, so as to simplify metro cities conveyance. These factors are anticipated to strengthen the bottom for the worldwide market of public safety solutions for smart cities. Additionally , the hike within the per capita income is predicted to bolster the market growth.

On the contrary, the high price of such solutions and therefore the lack of trained personnel for execution of such services are expected to be a number of the main constraints on the rapidly expanding global public safety solutions for smart cities market within the coming years.

Key Players

Harris Corporation (U.S.), NEC Corporation (Japan), Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), Thales Corporation (France), Huawei Technologies (China), Honeywell International Inc. (U.S.), Alcatel-Lucent (France), Northrop German Corporation (U.S.), and Motorola Solutions Inc. (U.S.) are major mode player of the general public safety solutions for smart cities market that are likely to contribute significantly to its health. An in-depth knowledge of the market aids in understanding the expansion opportunities of the market.

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