IoT For Public Safety Market 2021 ,Upstream, Opportunities, Challenges, Top Industry Players, Regional Study, Growth Drivers, and Opportunities by 2023

New York, United States, Fri, 08 Jan 2021 06:27:14 / Comserve Inc. / -- Leading players in the IoT for public safety market include Hitachi Vantara (U.S.), NEC (Japan), Cisco Systems (U.S.), IBM (U.S.), Nokia Networks (Finland), Sierra Wireless (Canada), Telit (U.K.), West Corporation (U.S.), Microsoft Corporation

Market Synopsis

The IoT For Public Safety Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe's organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market Overview:

TheGlobal IoT for public safety market size was worth USD 844.2 million in 2017 and is expected to balloon to USD 2010.44 million by 2023 at a CAGR of 15.60% over the forecast period (2018-2023). This can be credited to the emergence of internet of things (IoT) as a viable option for protecting public interests. The spike noticed in crime rates is likely to trigger the need for tougher security measures and IoT can play a significant role thanks to advancements in video surveillance systems.

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Impending public safety threats amid rising incidence of terrorism and vandalism is likely to drive the IoT for public safety market demand over the forecast period. Government efforts in creating smart city projects for safeguarding the lives of their citizens can be of benefit the market. Integration of machine learning (ML) and artificial intelligence (AI) in government departments to accumulate intel faster can be a plus for the market in the forthcoming years.

Segmentation

The global IoT for public safety market is segmented by component, application, and vertical.

By component, the market categorizes into three major segments, namely platform, solution, and services. By application, the market covers disaster management, surveillance & security, critical infrastructure security, and emergency communication and incident management. Verticals deemed vital to the market include smart manufacturing, smart utilities, smart transportation, smart building & home automation, smart healthcare, homeland security, and others.

Regional Analysis

Regionally, the global IoT for public safety market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW). North America is touted to be the top revenue-getter for the market till the end of the forecast period. But APAC is predicted to be highly lucrative owing to the rapid approval provided to infrastructural projects. Furthermore, the emphasis on smart city projects and digitization of legacy equipment can propel the regional market growth in a positive trajectory.

Competitive Analysis

Leading players in the IoT for public safety market include Hitachi Vantara (U.S.), NEC (Japan), Cisco Systems (U.S.), IBM (U.S.), Nokia Networks (Finland), Sierra Wireless (Canada), Telit (U.K.), West Corporation (U.S.), Microsoft Corporation (U.S.), Intellivision (U.S.), Iskratel (Slovenia), X-Systems (The Netherlands), Tibbo Systems (Taiwan), Star Controls (U.S.), Yardarm Technologies (U.S.), and others. Agreements, partnerships, and new product launches are strategies employed by these players to stay ahead in the market.

Report Methodology

Market Research Future prides itself on conducting top-notch research using its proprietary techniques. With a combination of primary and secondary research, analysts have managed to collect relevant data gathered from interviews with executives, whitepapers, SEC filings, and others to compile a thoroughly researched report. The data is verified with other sources to estimate future revenue and volume figures which assist investors in making wise business decisions. A mix of bottom-down and top-up approaches are undertaken to study the market from all perspectives.

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Global IoT for Public Safety Market by Component

Platform

Services

Solution

Global IoT for Public Safety Market by Application

Disaster Management

Emergency Communication and Incident Management

Surveillance & Security

Critical Infrastructure Security

Global IoT for Public Safety Market by Vertical

Smart Building & Home Automation

Smart Utilities

Smart Healthcare

Smart Manufacturing

Smart Transportation

Homeland Security

Others

Global IoT for Public Safety Market by Region

North America

Europe

Asia Pacific

Rest-of-the-World

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