IoT for Public Safety Market Overview:
IoT For Public Safety Market Size was valued at USD 1.60 billion in 2022. The IoT For Public Safety market industry is projected to grow from USD 1.83 Billion in 2023 to USD 5.51 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.75% during the forecast period (2023 - 2032).
IoT can play a significant role in enhancing public safety. Here are some examples of how IoT can be used for public safety:
Environmental safety monitoring: IoT sensors can be used to monitor the air quality, water quality, and noise levels in a city or town, providing data that can help to identify and mitigate environmental hazards.
Production safety control: IoT sensors can be used to monitor equipment and machinery in industrial settings, alerting operators to potential issues before they turn into safety hazards.
Public safety communications: IoT devices can be used to improve the speed and reliability of communications between first responders, as well as between first responders and the public.
Disaster response: IoT devices such as drones and sensors can be used to collect data in disaster zones, allowing emergency responders to identify and prioritize rescue efforts more effectively.
Crime prevention: IoT devices such as surveillance cameras and smart streetlights can be used to monitor public spaces and deter criminal activity.
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The report published by Market Research Future’s (MRFR’s) is founded upon a detailed analysis of drivers such as rising demand for smart cities and increasing reliance on unmanned operations. IoT for public safety market can provide this in real-time with round-the-clock monitoring which increases decision -making capabilities by using analytics.
Competitive Insights:
Prominent players in the IoT for public safety market are 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.
Segmentation:
The IoT for public safety market can be segmented by component, application, and vertical.
Based on the component, the IoT for public safety market can be segmented into platform, solution, and services. Solution is expected to be the fastest growing segment whereas, services, at present, is dominating.
By application, the IoT for public safety market comprises emergency communication incident management, critical infrastructure security, surveillance security, disaster management. Surveillance security segment, by far, is the leading segment. However, disaster management can record the fastest growth rate during the forecast period.
Based on vertical, the IoT for public safety market can be segmented into smart building home automation, homeland security, smart utilities, smart healthcare, smart manufacturing, smart transportation, and others. Homeland security is dominating the segment by generating sizeable revenue. Meanwhile, smart building home automation is all set to record the fastest CAGR over the review period.
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Regional Analysis:
Geographically, the IoT for public safety market can be mapped in regards to regions such as North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is doing remarkably well in the sector. The region has superlative technology to boost this kind of sector. At the same time, the excellent economic condition has got various industries inclined towards this market. Furthermore, a lot of the service providers are from this region which gives the IoT for the public safety market advantage in the competition.
Europe’s progress track resembles that of North America’s. The similarity these two regions share in terms of market drivers can tell how much Europe is gaining from the market. At the same time, development of smart cities is also on the rise which accentuates the regional market prospect.
The APAC region is experiencing astounding growth, all thanks to countries such as India, China, and others. These emerging nations are rapidly adopting smart technologies to protect properties and safeguard individual life which is promoting the IoT for the public safety market in the region.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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