According to Research report "Public Safety Analytics Market by Component (Solution and Service), Analytics Type (Predictive, Prescriptive, and Descriptive), Application, Deployment Mode (On-premises and hosted), Industry Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets, global public safety analytics market is expected to grow from USD 5.22 Billion in 2017 to USD 11.29 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% during the forecast period. The public safety analytics market has gained traction due to the rise in the criminal activities and terrorist attacks across border controls and needs to safeguard the public from various physical threats.
Increased adoption Internet of Things (IoT) and connected devices for public safety across government agencies are expected to drive the public safety analytics market over the next 5 years.
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The person of interest screening application segment is expected to play a key role in the public safety analytics market
The person of interest screening segment is expected to play a key role to change the market landscape and grow at the highest CAGR during the forecast period. This application helps public safety agencies and government agencies in criminal investigations to identify the convict of an offense. In addition, it has one of the most advanced features for public safety and has been deployed in various public infrastructures, such as airports, train stations, government and public buildings, and border control, resulting in a high growth rate.
The hosted deployment mode segment is expected to be the fastest-growing deployment mode in the public safety analytics market
In the market, the hosted deployment mode segment is expected to be the fastest-growing segment, as it offers organizations with increased scalability, speed, round the clock services, and improved management capabilities. In addition, these hosted services offer the pay-per-use pricing model. Moreover, such hosted or cloud-based public safety analytics solution and services are available in accordance with the customer’s demand, wherein enterprises could start, stop, or modify any service as per their requirement.
North America is expected to have the largest market size in the public safety analytics market
North America is expected to have the largest market size in the market, due to the presence of a large number of public safety solution providers and early adoption trends in the developed countries in the region. Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period, owing to factors, such as growth in need to meet the demand for the general public to ensure safety and security from potential crimes and disasters and rise in investment in the smart city initiatives. Furthermore, the market in regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the surge in technological proliferation across industry verticals, such as public transportation security, law enforcement and intelligence agency, border control, critical infrastructure security.
The major vendors in the public safety analytics market include Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), and Haystax (US).
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