Public safety analytics is a platform that includes video analytics, social media analytics, sensor data analytics, identity analytics solutions, and various services, which are designed to ensure public safety. Governments of various countries across the globe have increased their investment in public safety applications to protect the public and the nation from criminal and terrorist activities.
In the current technological world, organizations and businesses need to adopt advanced and modernized safety applications to protect and ensure public safety inside and outside of an organization. Enterprises need to adopt public safety analytics solutions to handle emergency situations and to eliminate security threats in a smooth manner.
Global Public Safety Analytics Market: Dynamics
Global Public Safety Analytics Market: Key Drivers
- Growing concern about penetration of AI and ML technologies and developments in security and public safety infrastructure to address crime, by collecting real-time information from security departments in various developing nations, are expected to boost the public safety analytics market
- Rapid adoption of social media analytics solutions to intimate citizens about emergencies such as fire, overcrowding, criminal activities, and natural calamities is anticipated to drive the demand for public safety analytics during the forecast period
- Rise in population is a key factor that highly impacts public safety across the globe. This is estimated to fuel the demand for public safety analytics during the forecast period.
- Lack of awareness about public safety services in different industry verticals is estimated to restrain the public safety analytics market
- High initial cost of investment is expected to hamper the adoption of public safety analytics
- New product launches and evolution of the physical threat landscape offers significant opportunities for the public safety analytics market
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Impact of COVID-19 on the Global Public Safety Analytics Market
- Increase in cases of COVID-19 across the globe is resulting in economic slowdown. The pandemic has created disruptions in several markets including public safety analytics.
- Increase in adoption of technologies in public safety departments to safeguard public safety professionals, such as fire fighters, police officers, and doctors during the pandemic, is the key factor that drives the demand for public safety analytics during the COVID-19 situation across the globe
- Hence, the COVID-19 pandemic is projected to propel the public safety analytics market during the forecast period
North America to Hold Major Share of Global Public Safety Analytics Market
- In terms of region, the global public safety analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominates the public safety analytics market due to the presence of several large and emerging players of public safety analytics in the region. Moreover, the U.S. and Canada are facing numerous issues, such as terrorism, mass shooting, prison management, natural calamities, and migration, which have threatened the safety of its citizens. This factor is anticipated to further fuel the public safety analytics market in the region.
- Rising digitalization in the automation sector among both large enterprises and small & medium enterprises by considering safety of employees in Europe is estimated to boost the demand for public safety analytics in the region
- Increase in demand for public safety applications in MEA is estimated to propel the market during the forecast period
- Rise in adoption of public safety solutions in smart city projects in Asia Pacific is projected to boost the demand for public safety analytics in the region
Global Public Safety Analytics Market: Competition Landscape
- Several players have a strong presence in the public safety analytics market owing to rapid technological advancements
- In June 2020, Cisco, a prominent player of public safety analytics market, added a new feature – Cisco DNA Spaces and indoor IoT services to its intent-based security solution that helps keep physical spaces safe for business purposes
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Key Players Operating in the Global Public Safety Analytics Market Include:
- Cisco Systems, Inc.
- Civica UK Limited
- FARO Technologies, Inc.
- Hexagon AB
- Haystax Technology, Inc.
- Honeywell International Inc.
- Hitachi Vantara Corporation
- International Business Machines Corporation
- Motorola Solutions, Inc.
- NICE Systems Ltd.
- NEC Corporation
- SAP SE
- SAS Institute Inc.
- Splunk Inc.
- Verint Systems, Inc.
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