IoT for Public Safety Market Growth, Recent Trends and Industry Analysis with Leading Participants - Hitachi Vantara, IBM, Microsoft, NEC and More
The rise in smart city initiatives across the globe, Incidents of terrorist activities, and the growing incorporation of AI and Ml-based public safety solutions are some of the factors boosting the IoT for Public Safety market.
New York, NY -- (SBWire) -- 04/12/2021 --The global IoT for Public Safety Market is forecasted to grow at a rate of 18% from USD 22.00 Billion in 2021 to USD 70.00 Billion in 2028. According to the evaluation of the European Telecommunications Standards Institute, emergency calling, mission-critical communications to protect responder personnel or situational awareness, mission-critical logistics support, public warning systems, and automated emergency response are the five major applications of IoT in public safety.
As an instance, at the time of disaster, national or local authorities are needed to alert citizens. In such situations, with the help of IoT devices like connected road displays or billboards, bus stop displays, connected cars, and displays inside busses, citizens in the affected area can be provided with timely and accurate information. Thus with the help of such public warning systems, the damages associated due to the disaster can be significantly controlled. Therefore, IoT has varied areas of application in the domain of public safety, which is boosting the growth of the market.
In regards to region, Europe is observed to occupy a prominent market position. Factors like the rise in natural calamities in this region and the effectiveness of this system in identifying the threat of any calamity with the help of climate detection sensors and manage the situation effectively with the help of response solutions have resulted in its growing application in this region.
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Further key findings from the report suggest
The IoT for Public Safety market held a market share of USD 1,046.4 Million in the year 2018 and forecasted to grow at a rate of 11.2% during the forecast period.
In regards to Component, the Platform segment generated the highest revenue of USD 481.4 Million in 2018, with a growth rate of 11.4% during the forecast period. The effectiveness of IoT Platforms in centrally controlling and monitoring every activity that occurs within an organization or a specific area have resulted in its elevated application for public safety and revenue generated by the segment.
In context to Application, the Surveillance and Security segment occupied the largest market share of 40.0% in 2018, with a growth rate of 10.9% during the forecast period. The market share held by the Surveillance and Security segment is attributed to the effectiveness of IoT platforms in gathering data from devices like surveillance cameras, evaluate these data, and disseminate these data to public safety agencies for avoiding emergencies. The mentioned factor have resulted in the elevated application of IoT platforms in surveillance and security.
In regards to End-use, the Smart Building and Home Automation segment is generated the highest revenue of USD 240.7 Million in 2018, with a growth rate of 11.2% during the forecast period. High emphasis on public safety in smart building and public safety being an integral component of this type of building has resulted in elevated used of IoT platforms for public safety in Smart Building and Home Automation, which contributes to the revenue generated by this segment.
In context to region, Asia Pacific is projected to witness the fastest growth rate of 11.8% during the forecast period. Factors like technological advancements, government initiatives like Digital India, and rising incidents of natural calamities contribute to the growth of the market in this region.
Key participants include Hitachi Vantara, IBM, Microsoft, NEC, Sierra Wireless, Cisco Systems, Nokia Networks, West Corporation, Telit, and Throughtek.
For the purpose of this report, Reports and Data have segmented the global IoT for Public Safety market based on Component, Application, End-use, and region:
Component Type Outlook (Revenue, USD Million; 2016-2027)
System Integration Services
Support and Maintenance Services
Application Type Outlook (Revenue, USD Million; 2016-2027)
Critical Infrastructure Security
Emergency Communication and Incident Management
Surveillance and Security
End-use Type Outlook (Revenue, USD Million; 2016-2027)
Smart Building and Home Automation
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Regional Outlook (Revenue in USD Billion; 2017–2027)
Middle East & Africa
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. IoT for Public Safety Market Segmentation & Impact Analysis
4.1. IoT for Public Safety Market Segmentation Analysis
4.2. Industrial Outlook
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Hitachi Vantara
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Sierra Wireless
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the IoT for Public Safety market and its competitive landscape.
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