The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Public & Personal Safety Market. The growth sectors of the Public & Personal Safety Market are identified with precision for a better growth perspective.
The public and personal safety market has been growing pervasively mainly, due to the rising rate of criminal activities, natural disaster, and cross-border terrorism. The augmenting demand for security measures to control these the increasing illegal activities are propelling the implementation of these security solutions across the globe. Improved safety features are also supporting market growth. The intensified market competition is encouraging the vendors to differentiate their product offering to beat the competition. Vendors are offering futuristic features at competitive prices, which, as a result, foster the growth of the market by increasing the uptake of market.
Simultaneously, stringent government policies & regulations for public and personal safety escalate the market on the global platform.
According to Market Research Future (MRFR), the global public and personal safety market is poised to touch a valuation of over USD 518 BN by 2023. MRFR also confirms that the market would acquire a CAGR of 13% throughout the forecast period (2017 to 2023). Additionally, factors such as the increasing urbanization, population, and improving economic conditions are substantiating the growth of the market. Technological advancements transpired in the field alongside, the demand for more efficient and responsive connected devices and the user-friendly, advanced safety systems are providing a considerable impetus to the market growth.
Conversely, the lack of technical competencies and the high initial investment required for the implementation of safety systems are some of the major factors obstructing the growth of the market. Nevertheless, well-spread awareness about the prominence of the safety systems and safety measures would support the market growth majorly over the assessment period.
Global Public and Personal Safety Market - Segments
The report is segmented into four key market dynamics to widen the scope of understanding,
By Solution : C2/C4ISR System, Critical Communication Network, Biometric Security & Authentication System, Surveillance System, Scanning & Screening System, and Emergency Disaster Management, among others.
By Service : Managed and Professional Services, among others.
By End-user : Government, Commercial & Residential, Retail, and BFSI, among others.
By Regions : Europe, North America, and the Rest-of-the-World.
Public and Personal Safety Market Is Estimated to grow by ~13% of CAGR, Global Public and Personal…
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