IoT in Public Safety Market Analysis By Component(Platform, Software, Services) By Media(Picture, Video) By Messaging(SMS, MMS, Web) By Platform(Device Management, Application Management, Network Management) By Application(Emergency Communication and Incident Management, Critical Infrastructure Security, Surveillance and Security, Public Warning System) By Vertical(Smart Building and Automation, Smart Utilities, Smart Healthcare, Smart Manufacturing, Smart Transportation) & Forecast By 2031
- PUBLISHED ON
- 2024-07-10
- NO OF PAGES
- 231
- CATEGORY
- Information Communication & Technology
Internet of Things (IoT) technology has gained a huge adoption rate in almost every sector right from lower end residential purposes to heavy end manufacturing and defense purpose, making it an USD 400 billion market in 2022.
Below figure depicts the breakdown, of IoT technology in various industries:
From the above figure it is evident that, IoT has wide range of application in various fields such as supply chain, mining, firefighting, building automation, smart city, asset tracking, healthcare, logistics, transportation, intelligent home, smart grids and energy management.
IoT for public safety market was valued at USD 950 million in 2020, which is estimated to reach a value of USD 5,650 by 2031 with a CAGR of 20.1% during the forecast period 2023-2031.
• Production Safety
• Food Safety
• Social Safety
Apart from safety, other important factor that is contributing in the market growth is increasing smart city initiatives across the world.
Immense focus on upgrading the public safety measures by the government is anticipated to provide a lucrative scope for the global IoT in public safety market.
Drone based surveillance and monitoring has anticipated to create a long term impact on the market, as both public and private players has been keenly investing in the development and commercialization of drones for safety purpose , thereby creating a lucrative opportunity for the market during the forecast period.
Below figure depicts the most in demand use case for drone based surveillance, that is creating a wider landscape propelling the growth of global IoT in public safety market:
Segmental Analysis
Regional Analysis
IoT in Public Safety market primarily covers the study of North America, Europe, APAC, South America and Middle East. North America leads the market with an active market share of 41% in 2021. Various IoT based use case have been implemented within the region, one of them is as follows: a school in the US has implemented a new sensor and analytics technology based on a series of deadly school shootings across the country.
Competitive Landscape
Some of the major companies operating in the global market are listed as follows: IBM, Hitachi Vantara, NEC, Microsoft Corporation, Cisco systems, Sierra Wireless, Telit, West Corporation, Nokia Networks, Huawei, Intellivision, Star Controls, Carbyne, Securens, Smartcone technologies, ESRI, Tibbo systems, Cityshob and others..
Segments
By Component
• Platform
• Software
• Services
By Media
• Picture
• Video
By Messaging
• SMS
• MMS
• Web
By Platform
• Device Management
• Application Management
• Network Management
By Application
• Emergency Communication and Incident Management
• Critical Infrastructure Security
• Surveillance and Security
• Public Warning System
• Others
By Vertical
• Smart Building and Automation
• Smart Utilities
• Smart Healthcare
• Smart Manufacturing
• Smart Transportation
• Others
Market Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global IoT in Public Safety market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
Global IoT for public safety market was valued at USD 950 million in 2020, which is estimated to reach a value of USD 5,650 by 2031 with a CAGR of 20.1% during the forecast period 2023-2031.
What are the drivers shaping various markets?
Immense focus on public safety and social condition of people’s lives is acting as a primary driver in propelling the market growth. Apart from safety, other important factor that is contributing in the market growth is increasing smart city initiatives across the world. Government has opened the space for various private players in order to garner huge investment for the smart city initiatives, that is estimated to put a demand for various IoT based devices.
Who are the key competitors of market Players?
Some of the major players operating within the market are IBM, Hitachi Vantara, NEC, Microsoft Corporation, Cisco systems, Sierra Wireless, Telit, West Corporation, Nokia Networks, Huawei, Intellivision, Star Controls, Carbyne, Securens, Smartcone technologies, ESRI, Tibbo systems, Cityshob and others.
What are the top performing segments, and countries / regions of each of the markets?
The countries covered in the regional analysis of the Global IoT in Public Safety market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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