Public safety analytics involves the use of technologies such as video surveillance cameras, gunshot detection systems, road sensors and mobile data solutions to collect and analyze data for increasing public safety and incident management. The use of advanced analytics helps in improving emergency response, predicting crime patterns, and responding to disasters in an effective manner. It allows public safety agencies to analyze past incidents and anticipate future threats. The integration of technologies such as body-worn cameras, surveillance cameras with analytics helps in monitoring public areas efficiently. It also reduces crime rates by enabling faster responses.
The Global Public Safety Analytics Market Size is estimated to be valued at US$ 6.06 Bn in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing need to improve incident management and public safety measures is estimated to offer significant growth opportunities for the public safety analytics market. With the growing threats of terrorist attacks, riots and natural disasters, public safety agencies need to equip themselves with advanced technologies to efficiently manage critical situations. The ability of public safety analytics to analyze huge amounts of multi-sourced data in real-time helps agencies to predict threats, spot anomalies and plan for future calamities. It also improves coordination between different agencies during disaster recovery operations. The development of smart cities further increases the demand for integrated public safety solutions for video surveillance, emergency response and critical infrastructure protection.
Porter's Analysis
Threat of new entrants: The public safety analytics market requires large capital investments and has stringent regulations which act as a deterrent for new players. The dominant market players also have economies of scale and brand recognition which make market entry difficult.
Bargaining power of buyers: Individual buyers have low bargaining power due to the indispensability of public safety solutions. However, large government organizations and law enforcement agencies have significant influence on pricing due to high purchase volumes.
Bargaining power of suppliers: A few large technology companies dominate the supply of analytics platforms, video management software, and data storage solutions. This gives them strong bargaining power over other market participants.
Threat of new substitutes: Alternatives such as traditional investigation methods or in-house developed tools offer limited substitution. However, open-source analytics solutions pose a moderate threat.
Competitive rivalry: The market is highly competitive with the presence of global and regional players. Differentiation is based on product functionality, privacy and security features, and customer support.
SWOT Analysis
Strengths: Demand driven by rising security threats and data-driven policing. Vendors provide customized solutions and integrate technologies like AI, IoT and cloud.
Weaknesses: High costs discourage small organizations. Data privacy and security risks affect adoption rates.
Opportunities: Scope for incorporating novel technologies into offerings. Growth prospects in developing countries.
Threats: Stringent regulations around data use. Budget cuts could pause spending.
Key Takeaways
The global Public Safety Analytics Market is expected to witness high growth over the forecast period owing to rising spends on public safety infrastructure and solutions across regions.
North America currently dominates the market contributing over 35% share driven by early technology adoption. Increasing investments by governments in public safety analytics in countries like US, Canada and Mexico will drive regional growth.
Key players operating in the Public Safety Analytics market are GoPuff, DoorDash, Instacart, Uber, Glovo, Rappi, Gorillas, Getir, Jokr, Zapp, Flink, 1520, Buyk, Deliveroo, Seazon, Yango Deli, Delivery Club, Bolt Food, Swiggy Instamart, Blinkit. These companies are focused on developing advanced analytics capabilities for applications like predictive policing, surveillance and emergency response. For instance, IBM offers public safety intelligence platform "Operation centers" for real time crime analysis and emergency response coordination.
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Global Public Safety Analytics Market, By Component (Solution, Services), Analytics Type (Predictive, Prescriptive, Descriptive), Deployment Type (On-Premise, Cloud), Application (Pattern Recognition), Vertical (Law Enforcement) - Forecast till 2023Market HighlightsThe main function of public safety is to protect all elements of society by improving decision making process of public safety agencies, providing them with useful insights from the collected data.
Public safety analytics include the collection of data from various public safety departments including police, transport departments, emergency services, and community safety groups.
Nowadays, the data collected from various internet-based sources such as social media sites, also help public safety agencies to extract a large amount of data and convert it into useful analytics using various analytic techniques such as prescriptive, descriptive, and predictive analytics.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6696Key playersThe public safety analytics market includes vendor which provides security evaluation services across the globe.
The companies include Hexagon (Sweden), Cisco (US), SAP (Germany), NEC (Japan), Nice Systems (Israel), Esri (US), SAS (US), IBM (US), Splunk (US), Verint Systems (US), Hitachi Vantara (US), Haystax (US) and among others.Regional analysisThe global market for public safety analytics market is estimated to grow at a significant rate during the forecast period from 2018 to 2023.
The geographical analysis of public safety analytics market is done for North America, Europe, Asia-Pacific, and the rest of the world.North America is expected to dominate the market of public safety analytics as this region focuses on advanced security technology using various devices such as computers, digital evidence management systems, and body cameras.
According to Research report "Public Safety Analytics Market by Component (Solution and Service), Analytics Type (Predictive, Prescriptive, and Descriptive), Application, Deployment Mode (On-premises and hosted), Industry Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets, global public safety analytics market is expected to grow from USD 5.22 Billion in 2017 to USD 11.29 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% during the forecast period.
The public safety analytics market has gained traction due to the rise in the criminal activities and terrorist attacks across border controls and needs to safeguard the public from various physical threats.Increased adoption Internet of Things (IoT) and connected devices for public safety across government agencies are expected to drive the public safety analytics market over the next 5 years.Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47603559 Browse 73 Tables and 45 Figures spread through 146 Pages and in-depth TOC on "Public Safety Analytics Market - Global Forecast to 2022"The person of interest screening application segment is expected to play a key role in the public safety analytics marketThe person of interest screening segment is expected to play a key role to change the market landscape and grow at the highest CAGR during the forecast period.
This application helps public safety agencies and government agencies in criminal investigations to identify the convict of an offense.
In addition, it has one of the most advanced features for public safety and has been deployed in various public infrastructures, such as airports, train stations, government and public buildings, and border control, resulting in a high growth rate.The hosted deployment mode segment is expected to be the fastest-growing deployment mode in the public safety analytics marketIn the market, the hosted deployment mode segment is expected to be the fastest-growing segment, as it offers organizations with increased scalability, speed, round the clock services, and improved management capabilities.
Moreover, such hosted or cloud-based public safety analytics solution and services are available in accordance with the customer’s demand, wherein enterprises could start, stop, or modify any service as per their requirement.North America is expected to have the largest market size in the public safety analytics marketNorth America is expected to have the largest market size in the market, due to the presence of a large number of public safety solution providers and early adoption trends in the developed countries in the region.
Furthermore, the market in regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the surge in technological proliferation across industry verticals, such as public transportation security, law enforcement and intelligence agency, border control, critical infrastructure security.Speak to Our Expert Analyst : https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=47603559 The major vendors in the public safety analytics market include Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), and Haystax (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
