Public Safety Analytics Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

arvind.palle@iarcresearch.com

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Public Safety Analytics Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026

Public Safety Analytics market size is estimated to reach $12.42 billion by 2026 at a CAGR of 14.79% during the forecast period 2021-2026. Increasing public security threats coupled with rising investments for public security, criminal investigations and adoption of advanced technological solutions.

Public Safety Analytics Market Report Coverage

The report: “Public Safety Analytics Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Public Safety Analytics market

By Type: predictive analytics, descriptive analytics and prescriptive analytics.
By offering type: solutions, services.
By solutions: Video analytics, Social media analytics, sensor data analytics, identity analytics and others.
By services: Consulting, Integration & Deployment, Support &Maintenance.
By deployment: On-premise, Cloud and Hybrid.
By Organization Size: small and medium enterprises, large enterprises.
By Application: Incident detection, Investigation, surveillance, pattern analysis, person of interest detection, person detection and re-identification, face detection, evidential chain management (CPIA), motion detection and others.
By End-User Industry: law enforcement agencies, emergency services sector (fire, EMS, dispatch centers) healthcare, transportation security, border security, intelligent agencies, Government, aviation, retail,hospitality, critical infrastructure security and others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain and Others), APAC (Japan, China, India, Australia, South Korea and Others), South America (Brazil, Argentina and others) and RoW (Middle east and Africa)

Key Takeaways

APAC is anticipated to have the fastest growth in Public safety analytics market, owing to increasing public safety concerns and the involvement of the government bodies in this region.
Increasing street crime rates along with rising applications of video analytics are the main driving factors of this market, contributing towards the growth.

Public Safety Analytics Market Value Share, by Geography, 2020 (%)

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<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Segment Analysis - By Solutions

By solutions, public safety analytics market is segmented into video analytics, social media analytics, sensor data analytics, identity analytics and others. Among all the solution types, video analytics holds the highest public safety analytics market share, around 13.48%, and estimated to grow at a significant rate during the forecast period 2021-2026. Increasing investment along with continuous development of this technology and growing focus on public safety are the key factors contributing to the market growth. In May 2020, in-order to modernize the security and safety industry, Bosch announced the launch of its new product INTEOX, an open camera platform which combines Bosch’s built-in Intelligent Video Analytics with a commonly used open operating system (OS) and the ability to add software apps securely afterwards. Hence, the above mentioned factors are analyzed to drive the growth in the said period.

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Segment Analysis - By End-User Industry

Based on end-user industry, this market is segmented into law enforcement agencies, emergency services sector, healthcare, transportation security, border security, intelligent agencies, Government, aviation, retail, hospitality, critical infrastructure security and others. According to the public safety analytics market report of IndustryARC, Law enforcement agencies are analyzed to grow at the highest CAGR of 14.16% during the forecast period 2021-2026 owing to the increasing rate of crimes and rising public safety concerns. Reduction in crime rates and providing better safety measures to public are the major goals of law enforcement agencies and the adoption of public safety analytics helps in achieving it, by analyzing the massive amount of data generated from various sources. It offers services such as incident detection, criminal investigations, surveillance, pattern identification, person of interest detection, face detection and others, which ultimately aid the law enforcement agencies to reduce the crime rates, resulting in, growing adoption of these solutions and enhancing the market growth in 2021-2026.

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Segment Analysis - By Geography

North America dominated the market by a market share of more than 30% in 2020, early adoption for new technologies and growing security threats among the public are the key factors contributing to the market growth. According to the FBI report of 2019 about US crime rate, 379.4 violent crimes such as robbery, rape, assaults, murder or non-negligent manslaughter were reported per 100,000 people. To reduce this type of crime rate, detection and investigation of the incident and to ensure safety, the adoption of public safety measures and public safety analytics is rising. The government’s investments in smart city projects in order to provide public safety, fuels the market growth in the region. In May 2019, New Orleans invested $40M in holistic smart city project to improve the citywide public safety system. Furthermore, increasing investment for artificial intelligence and machine learning and the presences of the key players in the regions are set to boost the market growthin the forecast period 2021-2026. In October 2019, Umbo Computer Vision had raised the investment by $8M for AI powered video security system. Moreover, APAC is anticipated to witness the fastest growth during the forecast period 2021-2026 owing to the rising street crime rate, economic growth of the developing countries, growing adoption of advanced technologies such as cloud-based services, IoT, AI & ML enabled services and public safety investment by the local and central Government of the countries of this region. According to the recent report of Bureau of Police Research and Development (BPRD), by January 2019, more than 4.27 lakh CCTV cameras were available with the Police across India, out of which 2.75 lakh CCTV cameras were installed in Telangana to improve the public safety measures. Apart from that, increasing investment for public security under smart city projects is a major factor behind the growth of this market. In January 2020, Nasik Municipal Smart City Development Corporation (MNSCDCL) announced that by May 2020, 800 CCTV cameras will be installed in Nasik under smart city project.

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Drivers

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;border:none="" windowtext="" 1.0pt;mso-border-alt:="" none="" 0cm;padding:0cm"="" style="box-sizing: border-box;">Increasing Street Crime Rate across the World is fueling the growth of this market:

Increasing public safety threats, rising investment for smart city projects and increasing requirement for government surveillance are the main growth drivers for this market. Increasing number of street crimes such as vandalism, vehicle accidents, kidnapping, violence, drug dealing, stealing, harassment, smuggling terrorist attacks and others in public places have triggered the adoption of public safety solutions. In October 2019, Municipal Corporation of a small town named Gorabazar installed approximately 103 CCTV cameras across the whole town to enhance the pubic safety measures by reducing the street crime rates. According to some recent studies, it is estimated that by the end of 2019, China already had 200M skynet CCTV camera installed for monitoring. According to the recent IFSEC Global report, it is estimated that 5.2M CCTV cameras were already installed in The UK for public surveillance, business security and residential safety. This type of government’s initiative to increase public safety measures acts as a growth driver for the public safety measures which increases the demand for the prescriptive analytics, predictive analytics as well as descriptive analytics services. Hence the above mentioned factors are analyzed to drive the market during the forecast period 2021-2026.

High Development and Adoption Rate of Video Analytics solutions for Public Safety Enhancement:

Rising development of video analytics solutions coupled with the increasing penetration of video analytics across various industries is anticipated to be one of the major driving forces for the development of public safety analytics and poised to open up new growth avenues for the market during the forecast period 2021-2026. In August 2020, AllGoVision Technology launched a safety-focused video analytics suite that enhances the public safety at office buildings, industrial and public areas. It also has few essential features perfectly suitable for post COVID-19 period such as no mask detection, contactless attendance management, people counting, contact tracing, social distancing and integration of thermal camera. The adoption of video analytics in every sector offers elimination of overcrowding, facial recognition, surveillance, incident detection and ensures safety which is a major driver for the adoption of video analytics resulting in the growth of the Public Safety Analytics market. In January 2020, Ministry of Railways announced that they had initiated the installation of IP-basedVideo Surveillance systems in 983 Indian railway stations for facial recognition, under Nirbhaya Fund to improve public safety.

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Challenges

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Budgetary Issues and Other Challenges are creating hurdles for the growth of Public Safety Analytics Market:

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:minor-fareast;="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;color:black;="" mso-themecolor:text1;background:white;mso-bidi-font-weight:bold"="" style="box-sizing: border-box;">Although Public Safety analytics market is growing at a rapid phase, the high R&D cost of the technology is anticipated to hinder the market growth. Due to the high development cost of the technology the final price of the solution is very high. Owing to the high price of the technology, many organizations face budgetary issues and cut the investment which hampers the market growth. Apart from that, the amount of collected data is increasing over time and with it the storage system for the massive amount of data is becoming a major issue for the organizations.In addition, lack of awareness and expertise for public safety analytics technology act as a major market challenge. Hence the above mentioned factors are set to hinder the market growth in the forecast period 2021-2026.

<span lang="EN-US" times="" new="" roman";mso-fareast-theme-font:="" minor-fareast;mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black;mso-themecolor:text1;background:white"="" style="box-sizing: border-box;">Public Safety Analytics Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Public Safety Analytics market. In 2020, the market of Public Safety Analytics industry outlook has been fragmented by several companies. Public Safety Analytics top 10 companies include

Hexagon AB
IBM Corporation
Cisco Systems, Inc.
NEC Corporation
SAP SE
SAS Institute, Inc.
Nice Systems Ltd.
Haystax Technology, Inc.
Splunk Technology, Inc.
Hitachi Vantara

Acquisitions/Technology Launches

<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" mso-bidi-font-weight:bold;mso-bidi-font-style:italic"="" style="box-sizing: border-box;">In October 2020, Splunk announced about the acquisition of an application performance monitoring (APM) company, Plumbr and its definitive agreement about the acquisition of Digital Experience monitoring (DEM) company, Rigor. Splunk significantly expanded its APM and DEM capabilities with both the acquisition and product integration.
<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:="" calibri;mso-bidi-theme-font:minor-latin;color:black;mso-themecolor:text1;="" mso-bidi-font-weight:bold;mso-bidi-font-style:italic"="" style="box-sizing: border-box;">In June 2020, Cisco launched Cisco SecureX, a cloud-native cyber security solution which offers better visibility across the security portfolio, security analytics and automates the workflows to speed up the threat detection and response process.

<span lang="EN-US" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-fareast-font-family:calibri;mso-fareast-theme-font:="" minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:minor-latin;="" mso-ansi-language:en-us;mso-fareast-language:en-us"="" style="box-sizing: border-box;">Relevant Report Titles:

Identity Analytics Market

Report Code: ITR 42873

Prescriptive and Predictive Analytics Market – Forecast (2021 - 2026)

Report Code: ITR 0007

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