According to the latest report by IMARC Group, titled "Public Safety Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global public safety analytics market size reached US$ 11.7 Billion in 2022. Public safety analytics is the process of utilizing data to analyze and understand how public safety organizations function and how they can improve their services. It aids in identifying areas of improvement, uncovering new opportunities, and monitoring and measuring performances. With the use of data from various sources, public safety agencies develop predictive models to anticipate and prevent crime, reduce response times, and improve the effectiveness of their services. Additionally, they also help to improve communication among public safety organizations. It provides numerous advantages, including comprehensive data, custom reports and dashboards, spatial analysis and playback, and reduced analytics costs and delays. Since data assist in identifying patterns in criminal behavior and developing strategies to address them, the demand for public safety analytics is augmenting across the globe.
Global Public Safety Analytics Market Trends:
The escalating demand for public safety analytics among intelligence agencies majorly drives the global market. This can be supported by the growing tensions between countries leading to the incorporation of advanced solutions to enhance situational awareness in law and military enforcement securities. Since it helps law enforcement agencies in gaining better insight into their operations and the criminal activities occurring in their jurisdictions and aid in better understand the nature of crime and develop more effective strategies to combat it, this is propelling the public safety analytics market. Along with this, the widespread adoption of public safety analytics due to its benefit of providing historical data in real-time to align resources, monitor live events, and deliver oversight and governance is also significantly supporting the demand. In addition, it is utilized to identify suspects at border crossings, public events, and airports by matching their unique biometric identifiers against databases comprising the details of travelers and criminals, which is providing a thrust to the market. Apart from this, numerous key players are developing hybrid models using artificial intelligence (AI) and intelligent workflows, thereby acting as another growth-inducing factor. Moreover, continual technological advancements in social media analytics, cognitive analytics, and the Internet of Things (IoT) are creating a positive market outlook. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 30.6 Billion by 2028, exhibiting a CAGR of 17.14% during 2023-2028.
- On the basis of the component, the market has been segmented into solutions and services.
- Based on the analytics type, the market has been classified into predictive analytics, prescriptive analytics, and descriptive analytics.
- On the basis of the application, the market has been categorized into pattern recognition, incident detection, person of interest screening and surveillance.
- Based on the deployment model, the market has been segregated into on-premises and cloud-based.
- On the basis of the industry vertical, the market has been divided into law enforcement, medical, firefighting and others.
- Based on the region, the market has been bifurcated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Cisco Systems Inc., Environmental Systems Research Institute Inc., Fishtech Group LLC, Hexagon AB, Hitachi Vantara LLC (Hitachi Ltd.), International Business Machines Corporation, NEC Corporation (AT&T Inc.), NICE Ltd., SAP SE, SAS Institute Inc., Splunk Inc. and Verint Systems Inc.
|Base Year of the Analysis
||Component, Analytics Type, Application, Deployment Model, Industry Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Cisco Systems Inc., Environmental Systems Research Institute Inc., Fishtech Group LLC, Hexagon AB, Hitachi Vantara LLC (Hitachi Ltd.), International Business Machines Corporation, NEC Corporation (AT&T Inc.), NICE Ltd., SAP SE, SAS Institute Inc., Splunk Inc. and Verint Systems Inc.
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