Public Personal Safety Market Size To Acquire Increasing Research Investments By 2023
Public Personal Safety Market Size
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.
Global Public and Personal Safety Market - Competitive Analysis
Highly competitive, the public and personal safety market appear to be fragmented due to the presence of many large and small players. The market is envisaged to witness intensified competition due to more entrants getting attracted to the market. To gain a competitive edge in the market, matured players incorporate strategic initiatives such as collaboration, acquisition, product & technology launch, and expansion.
Players also emphasize on new product development initiatives and geographical expansion. Resultantly, the market would witness constant development of new products and innovations, which in turn, will intensify the competition among the public and personal safety solution providers.
Major Players:
Players leading the public and personal safety market include Tyler Technologies Inc. (US), Huawei Technologies (China), Cisco Systems, Inc. (US), Northrop Grumman Corporation (US), Alcatel-Lucent (France), LM Ericsson (Sweden), ESRI (US), NEC Corporation (Japan), AGT International (Switzerland), and Honeywell International, Inc. (US), among others.
More Information@
Public and Personal Safety Market Research Report - Global Forecast to 2023 | MRFR
Public and Personal Safety Market Is Estimated to grow by ~13% of CAGR, Global Public and Personal…
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