Major players in the IoT in public safety market are International Business Machines Corporation, Hitachi Vantara Corporation, NEC Corporation, Microsoft Corporation, Cisco Systems Inc., Sierra Wireless, Telit, Intrado, Nokia Networks, ThroughTek Co. Ltd, Iskratel, Intellivision, Star Controls, Huawei Technologies Co. Ltd., Securens Systems Pvt. Ltd., Intel Corporation, Kova Group, Esri, Tibbo Systems, Endeavour Technology, X-Systems, Yardarm Technologies Inc, CityShob Software LTD, and Aeris Communications India Pvt. Ltd.
The global IoT in public safety market is expected to grow from $2.22 billion in 2021 to $2.60 billion in 2022 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The IoT in public safety market is expected to reach $4.78 billion in 2026 at a CAGR of 16.5%.
IoT in public safety includes revenues earned by entities by smart utilities, smart manufacturing, smart healthcare, smart building, home automation, homeland security.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
IoT in public safety is the way to ensure public safety with computer vision employed in conjunction with cameras, microphones, and sensors to collect information about traffic, accidents, and crime and to enhance urban mobility by analyzing traffic conditions. It is used to record and examine traffic patterns, identify risks, and issue warnings about impending accidents.
North America was the largest region in the IoT in public safety market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the IoT in public safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of IoT in public safety are surveillance systems, incident management, and response, disaster management, security systems, and other types.Surveillance systems involve networked smart cameras and programs that can process visual data without the need for human intervention, paving the way for the adoption of several automated operations.
The components involved are software, hardware, and services that are used by the government and public sector, transportation, healthcare, retail, education, manufacturing, and another end user.
The increasing number of criminal activities is driving the demand for the IoT in the public safety market going forward.Criminal activities refer to any type of behavior that manifests physically or any type of mental desire that contributes to the commission of the crime.
IoT aids in estimating the occurrence and incidence of crimes, and its data-driven methodology is crucial in anticipating crime.For instance in March 2022, according to the Internet Crime Report 2021, published by the Federal Bureau of Investigation, a US-based domestic intelligence and security service agency, 76,741 extortion and 43,330 identity theft-related crimes occurred in 2020, increased from 43,101, and 16,053 occurred in 2019.
However, 16,053 victims engaged in the extortion related crimes in 2019, which increased to 76,741 in 2020. Therefore, the increasing number of criminal activities will drive the growth of the IoT in the public safety market.
Increasing adoption of machine learning (ML) And AI-based public safety solutions is a key trend gaining popularity in the IoT in the public safety market.ML And AI-Based public safety solutions are employed to improve public safety by utilizing best AI practices and techniques, enabling AI systems to improve public safety, and utilizing ML and deep neural networks for more accurate decision-making and prediction.
Major players in the IoT in the public safety sector are focused on increasing the adoption of ML And AI-based public safety solutions to sustain their marketplace.For an instance, in March 2022, Seeed Studio, a China-based company engaged in the development of IoT hardware launched AI and IoT solutions including sensors as a service for full digitalization purposes as well as EdgeAI for the real world.
Due to the ultra-low-power machine learning that powers the SenseCAP sensors, they can always-on inferencing using vision and sound. Seeed introduced the 2 series of Edge Computing devices powered by Nvidia Jetson to make data gathering and inference happen in real-time, enabling more AI-based solutions to be used in the real world.
In February 2022, Forescout Technologies, a US-based, company engaged in software development and services, acquired CyberMDX, for an undisclosed amount.With this acquisition, Forescout rose to the top of the Internet of Medical Things (IoMT) device security industry.
This acquisition will provide Forescout with thorough visibility into medical devices far faster than if the business tried to develop the capabilities on its own. CyberMDX is a US-based computer security company engaged in the development of healthcare IoT security solutions.
The countries covered in the IoT In Public Safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The IoT in public safety market research report is one of a series of new reports that provides IoT in public safety market statistics, including IoT in public safety industry global market size, regional shares, competitors with IoT in public safety market share, detailed IoT in public safety market segments, market trends, and opportunities, and any further data you may need to thrive in the IoT in the public safety industry. This IoT in public safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.