[FURL=https://www.industryarc.com/Research/Public-Safety-Analytics-Market-Research-500738?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Public Safety Analytics Market[/FURL] Public Safety Analytics market size is estimated to reach $12.42 billion by 2026 at a CAGR of 14.79% during the forecast period 2021-2026. Increasing public security threats coupled with rising investments for public security, criminal investigations and adoption of advanced technological solutions have significantly triggered the demand for public safety analytics solutions including predictive analytics, descriptive analytics and prescriptive analytics. In addition, increasing investment for the development of AI & ML, Government’s initiative to promote smart city projects, increasing smart city investments and growing requirement of smart security systems which can offer real-time data, is estimated to accelerate the adoption of various public safety analytics solutions such as video analytics, identity analytics and others, resulting in an expansion of public safety analytics industry.Key Takeaways
APAC is anticipated to have the fastest growth in Public safety analytics market, owing to increasing public safety concerns and the involvement of the government bodies in this region.
Increasing street crime rates along with rising applications of video analytics are the main driving factors of this market, contributing towards the growth.
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Public Safety Analytics Market Segment Analysis - By Geography
North America dominated the market by a market share of more than 30% in 2020, early adoption for new technologies and growing security threats among the public are the key factors contributing to the market growth. According to the FBI report of 2019 about US crime rate, 379.4 violent crimes such as robbery, rape, assaults, murder or non-negligent manslaughter were reported per 100,000 people. To reduce this type of crime rate, detection and investigation of the incident and to ensure safety, the adoption of public safety measures and public safety analytics is rising. The government’s investments in smart city projects in order to provide public safety, fuels the market growth in the region. In May 2019, New Orleans invested $40M in holistic smart city project to improve the citywide public safety system.
Public Safety Analytics Market Drivers
Increasing Street Crime Rate across the World is fueling the growth of this market:
High Development and Adoption Rate of Video Analytics solutions for Public Safety Enhancement:
Public Safety Analytics Market Landscape
Public Safety Analytics top 10 companies include Hexagon AB, IBM Corporation, Cisco Systems, Inc., NEC Corporation, SAP SE, SAS Institute, Inc., Nice Systems Ltd., Haystax Technology, Inc., Splunk Technology, Inc., Hitachi Vantara
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