Technology Public Safety Solution for Smart City Market Trend

Market Highlights
Market Research Future (MRFR) reveals, the global market of public safety solutions for smart
cities is expected to garner a lucrative CAGR over the forecast period and attain a valuation of USD
299 billion by 2023.
Market Insights
The fourth revolution has resulted in rapid globalization, which has created extensive job
opportunities. As a result, an upsurge in urban migration has been observed. Hence, urbanization
and increase in industrial activities are major factors that are observed to underpin the expansion
of the global public safety solution for smart city market.
The rise in the demand for Internet of Things, artificial intelligence, and other technologies, and
their active adoption across different verticals is enabling enterprises to deliver better professional
safety solutions for the safety of the public in smart cities.
Public safety solutions are deployed for public transportation, disaster management, critical
infrastructure security, and medical emergency services. In addition, transit agencies are also
making a deliberate effort to incorporate IoT in the transportation security models, in order to
simplify metro cities conveyance. These factors are anticipated to strengthen the base for the
global market of public safety solutions for smart cities. In addition, the hike in the per capita
income is expected to bolster the market growth.
On the contrary, the high price of such solutions and the lack of trained personnel for execution of
such services are expected to be some of the major constraints on the rapidly expanding global
public safety solutions for smart cities market in the coming years.
Segmentation:
The global market of public safety solution for smart city market trends have been segmented on
the basis of services, solution, and application.
By solution, the global public safety solution for smart city market has been segmented into critical
communication network, biometric security & authentication system, backup & recovery system,
public address & general alarm, and surveillance system. The critical communication network
segment is anticipated to expand at 25.7% CAGR by 2023.
By services, the global public safety solution for smart city market has been segmented into
professional service and managed service. The managed service segment is likely to thrive at a
CAGR of 26.3% by the end of the forecast period.
By application, the global public safety solution for smart city market has been segmented into
public transportation security, disaster management, critical infrastructure security, medical
emergency service, law enforcement, firefighting services, and intelligence agencies. The public
transportation security to expand at 26.2% of CAGR over the assessment period.
Regional Outlook
Regionally, the public safety solution for smart city market growth pattern has been studied in Asia
Pacific, North America, Europe, and Rest-of-the-World (RoW). The market in North America is
expected to retain its superior position in the global market due to continuous technical