ICT - IoT for Public Safety Market

Market Synopsis

The global IoT for public safety market size was USD 1.79 Billion in 2022 and is expected to reach a value of USD 6.80 Billion in 2032 and register a revenue CAGR of 16% during the forecast period. The desire for more sophisticated Security Solutions to protect public safety is likely to drive significant expansion in the IoT for public safety market over the course of the forecast period.

Public safety and security measures are required due to factors like the rise in terrorist attacks, natural disasters, and criminal activity. IoT-based solutions are showing promise for improving public safety and lowering crime rates. Schools, universities, airports, and public transit systems are just a few of the sites where IoT-enabled devices and sensors are being used to monitor a variety of public areas for potential hazards and provide real-time notifications to the appropriate authorities.

In addition, the need for IoT for Public Safety solutions is anticipated to increase along with the implementation of smart city projects. By fusing technology and data to manage resources effectively, smart city initiatives seek to increase local services and the quality of life for citizens. To better monitor, manage, and respond to security risks, IoT for Public Safety solutions are a crucial part of smart city initiatives.

The rising popularity of remote monitoring and management is another factor driving the adoption of IoT for Public Safety solutions. Authorities may monitor public areas in real-time from a central location using IoT-enabled devices and sensors, allowing for speedy response times in an emergency. The use of IoT solutions by law enforcement organizations to improve their surveillance capabilities is particularly common in nations with high crime rates.

The market for IoT in public safety is expanding as a result of the integration of IoT with other cutting-edge technologies like AI and machine learning. To analyze data from IoT-enabled devices and give authorities predictive insights, AI and ML-based algorithms are being developed. These insights make it possible to take preventive steps to avoid security issues.

The demand for IoT for Public Safety solutions is also being driven by the growing use of cloud-based IoT platforms. The scalability, flexibility, and cost-effectiveness of cloud-based systems make them the best choice for applications in public safety.

The IoT for public safety market, nevertheless, also has to contend with issues like data privacy worries, cybersecurity risks, and a lack of standardization. To achieve the successful implementation of IoT for public safety solutions, these difficulties must be overcome.

In general, it is expected that the IoT for public safety market would expand significantly over the projected period due to rising demand for cutting-edge security systems and the adoption of smart city initiatives. The market is anticipated to continue to expand as a result of the IoT's integration with other cutting-edge technologies like AI and ML, the rising popularity of remote monitoring and management, and the adoption of cloud-based platforms.

Government Regulations:

• The U.S. Federal Communications Commission (FCC) has implemented rules for the deployment of new technologies, including IoT devices, in public safety networks.
• The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) has issued a set of voluntary guidelines to help organizations deploy IoT technology securely and safely in public safety networks.
• The National Institute of Standards and Technology (NIST) has developed a set of standards for the secure deployment of IoT devices in public safety networks.
• The U.S. Department of Transportation’s Federal Highway Administration has issued guidance on the use of connected vehicles for public safety, which includes recommendations for securing IoT devices used in public safety applications.
• The National Fire Protection Association (NFPA) has released a set of standards for the use of IoT devices in firefighting, which includes recommendations for secure deployment and management of connected systems.

Component Type Insights:

During the forecast period, the hardware segment is expected to account the largest revenue share in the IoT for public safety market. The actual objects utilized in the deployment of IoT solutions for public safety are known as hardware components. These parts include of wearables, cameras, sensors, and other linked devices. In public safety systems, the integration of hardware elements like sensors and cameras aids in the real-time monitoring of crucial regions and improves Situational Awareness. On the other hand, wearables offer tracking and personal safety features, particularly in dangerous areas. The public safety industry's increasing use of IoT-enabled devices is expected to fuel the hardware market's expansion.

During the forecast period, the fastest revenue increase is expected in the software area. Platforms, analytics programs, and other software applications are examples of the software elements of IoT solutions for public safety. These elements make it possible to combine data from numerous IoT devices and aid in data analysis to produce insights that can be put to use. The software programmes also assist in decision-making, resource allocation, and proactive maintenance, increasing the public safety system's overall effectiveness. The demand for automation in public safety systems and the growing requirement for advanced analytics are projected to fuel the expansion of the software market.

The market for IoT in public safety is expected to have a sizable revenue contribution from the services sector. Professional services and managed services are included in the services component. Professional services include deployment, integration, and advising, whereas managed services include services for monitoring, upkeep, and support. IoT solutions for public safety are more effectively implemented and managed with the aid of these services. The need for managed services and the growing need for customized solutions are expected to fuel the expansion of the services market.

Application Insights:

Over the course of the forecast period, the market for IoT in public safety is anticipated to grow significantly in terms of emergency communication and incident management. This is because emergency events, such as natural disasters, accidents, and terrorist attacks, call for more real-time communication than ever before. Faster and more effective communication channels that may be accessed from far-off areas are made possible by the integration of IoT devices in communication networks. In addition, by providing real-time position monitoring and resource allocation, IoT-enabled event management systems can aid in coordinating rescue attempts. These benefits are anticipated to fuel this segment's revenue growth.

During the forecast period, it is also expected that the market for IoT in public safety would continue to rise steadily. It is now possible for authorities to maintain a close check on public areas and identify potential security risks in real-time thanks to the integration of IoT devices in surveillance systems, which improves monitoring capabilities. This segment's revenue growth is expected to be fueled by the installation of IoT-enabled security systems at key infrastructure areas including airports, seaports, and government buildings.

Due to the rising frequency of natural disasters including hurricanes, earthquakes, and floods, the disaster management segment of the IoT for public safety market is expected to experience substantial growth. Disaster management systems that are IoT-enabled can assist in forecasting weather patterns and spotting possible dangers in advance, allowing authorities to take preventive action and lessen the effect of disasters. In disaster-prone locations, the use of IoT-enabled equipment like drones and sensors can aid in damage assessment and search and rescue efforts. These benefits are anticipated to fuel this segment's revenue growth.

Last but not least, the "others" sector of the IoT for public safety market comprises programmes for managing crowds, traffic, and the environment. Due to the growing demand for public safety measures in metropolitan areas, this market is predicted to rise steadily. The use of IoT-enabled devices in traffic and crowd control systems can help to ease congestion and drive public safety. Deploying IoT-enabled Environmental Monitoring systems can also aid in identifying and preventing environmental risks like water and air pollution.

Regional Insights:

In terms of revenue, the global IoT for public safety market was dominated by North America in 2021. The widespread use of cutting-edge technologies in the region and the presence of a number of market players who provide IoT-enabled public safety solutions are what are primarily fueling market expansion. In addition, the region's demand for IoT-based public safety solutions is being driven by the growing need for public safety as a result of an increase in criminal activity, natural disasters, and terrorist activities. In addition, throughout the course of the forecast period, market expansion is anticipated to be fueled by the implementation of smart city initiatives and the presence of developed infrastructure.

During the forecast period, the Asia Pacific market is expected to have the quickest revenue CAGR. The adoption of IoT-based public safety solutions in the area is being fueled by the growing number of smart city projects in nations like China, India, and Singapore. Further driving the demand for IoT-enabled public safety solutions is the region's rising occurrence of natural catastrophes including earthquakes, floods, and typhoons. In addition, increased government spending in the area on the construction of cutting-edge public safety infrastructure is expected to spur market expansion.

During the forecast period, Europe is anticipated to increase somewhat. The demand for IoT-based public safety solutions is being driven by the region's growing smart city initiatives and adoption of cutting-edge technologies. In addition, a number of market companies who offer IoT-enabled public safety solutions are anticipated to fuel market expansion. The region's market is anticipated to expand even more as cloud-based solutions for public safety are increasingly adopted.

Major Companies and Competitive Landscape

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The global IoT for public safety market is highly competitive, with several major and medium-sized players dominating the market. These key players are deploying various strategies, such as mergers and acquisitions, strategic agreements and contracts, and developing and introducing more effective products. Some of the major companies operating in the global IoT for public safety market are:

• IBM Corporation
• Microsoft Corporation
• Cisco Systems, Inc.
• Siemens AG
• Verizon Communications, Inc.
• Honeywell International Inc.
• Axon Enterprise, Inc.
• SAS Institute Inc.
• RapidDeploy Inc.
• Nokia Corporation

Strategic Development:

• In 2021, IBM Corporation announced the launch of its Watson Works solutions for public safety, which use AI (artificial intelligence) and IoT technologies to enhance public safety operations. The solutions provide real-time situational awareness, Predictive Analytics, and intelligent decision-making capabilities to public safety organizations.
• In 2020, Cisco Systems, Inc. announced a strategic partnership with RapidSOS, a US-based emergency response technology company. The partnership aims to integrate Cisco's IoT technologies with RapidSOS's emergency response platform to provide faster and more accurate emergency response services.
• In 2020, Axon Enterprise, Inc. announced the launch of its Axon Air program, which aims to provide public safety organizations with drone-based situational awareness and data gathering capabilities. The program includes a range of drones, software applications, and data analytics tools to enhance public safety operations.
• In 2019, Microsoft Corporation announced a strategic partnership with the Los Angeles Police Department (LAPD) to develop an IoT platform to enhance public safety operations. The platform includes a range of IoT devices, sensors, and software applications to provide real-time data analytics and situational awareness to the LAPD.
• In 2018, Siemens AG announced a strategic partnership with Thales Group, a French multinational company, to develop an IoT-based cybersecurity solution for critical infrastructure protection. The solution includes a range of cybersecurity tools and services to enhance the security of critical infrastructure systems.

New Product Launches:

• In 2021, IBM launched the IBM Maximo Mobile App for Public Safety, which provides real-time situational awareness, predictive analytics, and intelligent decision-making capabilities to public safety organizations. The app is designed to run on iOS and Android devices and can be customized to meet the specific needs of public safety organizations.
• In 2020, Microsoft launched the Azure Sphere, an IoT platform that provides secure connectivity and real-time data analytics capabilities to public safety organizations. The platform includes a range of IoT devices, sensors, and software applications that can be customized to meet the specific needs of public safety organizations.
• In 2020, Cisco launched the Cisco Connected Blue Light solution, which is designed to enhance public safety operations by providing real-time situational awareness and intelligent decision-making capabilities to law enforcement agencies. The solution includes a range of IoT devices, sensors, and software applications that can be customized to meet the specific needs of law enforcement agencies.

Segments Covered in Report:

For the purpose of this report, Reports and Data has segmented the IoT for public safety market based on component, application, end-use, and region: