Global Public Safety Solution for Smart City Market, By Solution (Critical Communication Network, Biometric Security & Authentication System, Emergency & Disaster Management, Backup & Recovery System)
— Market Highlights
Market Research Future (MRFR) has published a research report about the global public safety solution for smart city market that calculates a massive hike for this market at 24.8% CAGR between 2017 and 2023. By value, the market has been figured to be worth the US $ 299 bn by the end of the forecast period.
The worldwide economic growth picking up pace, new urban as well as rural infrastructure development efforts are shaping up all over the world. One of the top priorities in the development agenda is to facilitate the growth of smart cities and to tackle many of the third-world issues regarding public safety.
The crucial market driving factor for the global public safety solution for smart city market growth is growing urbanization. Other exigent factors contributing to the market growth include rapid globalization, increase in job creation, the emigration of people to smart cities for job search, industry growth in the metro cities, increasing disposable income, rising demand for internet of things (IoT), and lastly, scarcity of security personnel. However, the high price of such products necessary for public safety for smart cities and lack of skilled workforce for operating public safety services can hinder the market growth.
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Major Key players
The key players in the global public safety solution for smart city market include Alcatel-Lucent (France), Cisco Systems Inc. (USA), Harris Corporation (USA), Honeywell International Inc. (USA), Huawei Technologies (China), International Business Machines Corporation (USA), Motorola Solutions Inc. (USA), NEC Corporation (Japan), Northrop German Corporation (USA), and Thales Corporation (France).
The global public safety solution for smart city market segmentation has segmented the market into application, service, solution, and region. The application-based segmentation is segmenting this market into critical infrastructure security, disaster management, firefighting services, law enforcement & intelligence agencies, medical emergency service, public transportation security, and others.
Based on services, the market has been segmented into managed services and professional services. Regarding solution, the market has been segmented into the backup & recovery system, biometric security & authentication system, critical communication network, emergency & disaster management, public address & general alarm, and surveillance system.
The regional segmentation of the global public safety solution for smart city market has segmented the market into the regional markets that are known as North America, Europe, Latin America, Asia Pacific, and rest of the world (RoW). During the forecast period, North America is being considered to dominate the global market because the technical developments, presence of key market players, and adoption of cloud technology along with IoT are high in this region. The USA has been estimated to emerge as the biggest country-specific market in the public safety solution for the smart city market, and so far, it has generated the revenue around US $ 15,746.5 mn so far. After the USA, Canada is the most important country-specific market in this region.
The Asia Pacific region has been inferred to grow significantly as a market due to rapid urbanization in countries like China and India, growing industrialization, and initiation of various smart city projects. Other momentous country-specific markets in this region are Japan and South Korea, followed by the remaining countries of the Asia Pacific region.
Europe is another salient regional market due to the reasons that are the same as in North America. The vital country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
The RoW segment covers the countries of Latin America and the Middle East & Africa (MEA) region. In Latin America, the market is sizable but not as great as North America because Latin America is yet to achieve the level of technological advancement that North America has already achieved. The most powerful economies in this region that can become significant markets are Argentina and Brazil. In the MEA region, market growth is slow due to the limited availability of advanced technology.
Latest Industry News
MAY 2019 - Nokia Bell Labs-driven industry group is working to build key enablers for fast 5G network based on smart light poles for the future smart cities. Named as the LuxTurrim5G ecosystem project, this smart city development initiative has developed the 5G smart pole concept where 5G base stations, a variety of different displays, sensors, video cameras, and many other devices have been integrated to light poles.
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List of Tables
TABLE 1 MARKET SYNOPSIS 13
TABLE 2 LIST OF ASSUMPTIONS 16
TABLE 3 RESTRAINTS IMPACT ANALYSIS: PUBLIC SAFETY SOLUTIONS FOR SMART CITY MARKET 30
TABLE 4 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SOLUTION (USD MILLION) (2017-2023) 39
TABLE 5 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SERVICES (USD MILLION) (2017-2023) 42
TABLE 6 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY APPLICATION (USD MILLION) (2017-2023) 46
TABLE 7 GLOBAL PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY REGION, 2016-2023 (USD MILLION) 48
TABLE 8 NORTH AMERICA PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY COUNTRY (USD MILLION) (2017-2023) 49
TABLE 9 NORTH AMERICA PUBLI C SAFETY SOLUTION FOR SMART CITY MARKET, BY SOLUTION (USD MILLION) (2017-2023) 50
TABLE 10 NORTH AMERICA PUBLIC SAFETY SOLUTION FOR SMART CITY MARKET, BY SERVICES (USD MILLION) (2017-2023) 51
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Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 523366