According to a new market report pertaining to the global digital spending in public safety market published by Transparency Market Research the global digital spending in public safety market is projected to reach value of ~US$ 201 Bn by 2027. The digital spending in public safety market is projected to expand at a CAGR of ~5% from 2019 to 2027. Expansion of the market can be attributed to growing trend of IoT. This market in Middle East & Africa is anticipated to grow at a significant CAGR, followed by Asia Pacific, during the forecast period.
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Rise in Number of Smart City Projects to Drive Digital Spending in Public Safety Market
The increasing push toward digital spending in smart city projects across the world is expected to result in huge and steady growth of thousands of databases and sensors. The rising number of sensors and databases in smart city projects is likely to provide all kinds of information. Besides, most of the volume of data is expected to be collected and processed in smart city projects for intelligent transportation, traffic management, smart outdoor lighting, environmental monitoring, and fixed visual surveillance. Moreover, to develop cities with smarter energy infrastructure, governments are using innovative technology and data to create efficiencies, economic development, and sustainability to enhance the quality of life for people living and working in cities.
- For instance, Huawei Technologies Co., Ltd., a global leader in the field of ‘smart city’ solutions uses a web of inter-connected devices, cloud storage systems, and software to provide efficient smart city solutions
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Market Segmentation: Digital Spending In Public Safety Market
The digital spending in public safety has been segmented on the basis of component, end user, and region. On the basis of component, the digital spending in public safety market can be segmented into solution and service. The solution segment has been classified into in-vehicle, in-field, in-station, and network communication infrastructure. Furthermore, the in-vehicle sub-segment has been divided into device and system, which includes Light Detection and Ranging (LIDAR), License-plate reader, Global Positioning System (GPS), Automated Vehicle Location (AVL) system, and others. The in-station sub-segment has been categorized into software and system, which includes artificial intelligence, Big Data analytics, video analytics, Business Intelligence System (CBI), Drive Safe Enforcement System, Violation Processing System, and others.
The service segment has been divided into infrastructure service, device service, and cyber security service. In terms of end user, the digital spending in public safety market has been split into homeland security, defense, fire protection security, and legal.
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Digital Spending in Public Safety Market: Regional Outlook
In terms of region, the digital spending in public safety market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominated the digital spending in public safety market, accounting for a substantial share in 2019, with China and India being the major markets in the region. The digital spending in public safety market in Middle East & Africa is expected to grow at a CAGR of 6.2% during the forecast period, due to rise in criminal activities and terrorist attacks, and with a view to improve and enhance public safety across the MEA region. The digital spending in public safety market in Europe and South America is also expected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the digital spending in public safety market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis for the digital spending in public safety market.
Digital Spending In Public Safety Market: Competition Dynamics
The research study includes profiles of leading companies operating in the digital spending in public safety market. Key players profiled in the report include Samsung Electronics Co., Ltd., AT&T Inc., Motorola, Inc., Microsoft Corporation, Nokia Corporation, Google LLC, Leonovus Inc., Cisco Systems, Inc., G2 Crowd, Huawei Technologies Co., Ltd., Accenture, Tata Consultancy Services Limited, Ericsson, and IBM Corporation.
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