As per the report by MRFR, the global public safety analytics market is slated to generate a market value of USD 11.75 billion by 2023 growing at a 16.22% CAGR during the review period (2018–2023)
Public safety ’s primary function is to protect all elements of society by improving the decision-making process of public safety agencies, providing them with useful insights from the data collected. These elements include economics, critical infrastructure and citizens alike. Public safety reports provide data collection from different branches of public safety, including police, traffic branches, emergency management, and neighborhood security organizations. The data collected from various internet sources , such as social media sites, also help public security agencies to extract large amounts of data and convert it into useful analytics using different analytical techniques such as descriptive, prescriptive, and predictive analytics. Main driver for the growth of the public safety analytics market is the rising incidence of illegal activity and terrorist threats that has resulted in the agencies embracing data analytics as a solution for public safety to obtain valuable insights from the data collected. This allows law enforcement agencies to gain actionable insights from the data needed for crime prevention and public safety. Advances in business intelligence also help public safety agencies make predictions, using real-time data stream analytics and machine learning to build on historical data.
Reducing and stopping crime is a big challenge for law enforcement agencies to step up public safety, Reduces the costs of crime to society and prevents harm to public property. Public security agencies generate tremendous amounts of data from different sources such as criminal records, social media platforms, and data from investigations. The shift of public safety analytics toward integrating predictive and preventive analytics helps to predict future crimes in crime analysis from historical data.
The Global Market Study of Public Safety Analytics aims at various segments, such as component, type of analysis, type of deployment, application, vertical, region and estimate of market growth across these segments
The market is segmented by component into solution and service. The Solution segment is further segmented into Video Analytics, Social Media Analytics, Identity Analytics, Sensor Data Analytics, Others (Speech Analytics, Text Analytics, and Crowd Analytics), and the Services segment is further segmented into System Integration, Support and Maintenance, Consulting, Managed Services.
The market is segmented by type of analytics into predictive analysis, prescriptive analytics, descriptiveanalytics.
The market is segmented by form of delivery into on-premise and cloud.
The market is segmented by application into pattern recognition, accident detection, interest individual screening, and surveillance.
The market is segmented vertically into law enforcement and intelligence agencies, border protection , security of public transportation, essential security of infrastructure and others (manufacturing and emergency services).
It is estimated that the global market for public safety analytics will grow at a significant rate during the 2018-2023 forecast period. For North America, Europe , Asia-Pacific, and the rest of the world, geographic analysis of the public safety analytics market is being studied.
North America is expected to dominate the public safety analytics market because of the involvement of major suppliers of public safety solutions and advanced monitoring technologies found in countries like the US and Canada. That is expected to boost market growth in this region. Asia-Pacific is projected to be the region with the highest growth over the forecast perioddue to increasing investments in smart city projects that have led to public safety analytics solutions being adopted.
The public safety analytics market comprisesvendors which provides security evaluation services across the globe. The companies include Hexagon (Sweden), Verint Systems (US), IBM (US), Cisco (US), SAP (Germany), Esri (US), SAS (US), NEC (Japan), Nice Systems (Israel), Splunk (US), Hitachi Vantara (US), Haystax (US) and among others.
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