SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Public Safety and Security – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 3648
Companies: 38 – Players covered include Cisco Systems, Inc.; Ericsson AB; Esri; General Dynamics Corporation; Harris Corporation; Haystax Technology, Inc.; Hexagon AB; Huawei Enterprise; IBM Corporation; Motorola Solutions, Inc.; NEC Corporation; NICE Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Solution (Critical Communication Network, C2/C4isr System, Biometric Security and Authentication System, Surveillance System, Scanning and Screening System, Cybersecurity, Other Solutions); Vertical (Homeland Security, Emergency Services, Critical Infrastructure Security, Transportation Systems, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Public Safety and Security Market to Reach $730.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Public Safety and Security estimated at US$350.6 Billion in the year 2020, is projected to reach a revised size of US$730.4 Billion by 2026, growing at a CAGR of 12.8% over the analysis period. Critical Communication Network, one of the segments analyzed in the report, is projected to record a 14.5% CAGR and reach US$205.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the C2/C4isr System segment is readjusted to a revised 12.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $106.8 Billion in 2021, While China is Forecast to Reach $157.6 Billion by 2026
The Public Safety and Security market in the U.S. is estimated at US$106.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$157.6 Billion by the year 2026 trailing a CAGR of 16.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 11.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
Biometric Security and Authentication System Segment to Reach US$121.4 Billion by the year 2026
In the global Biometric Security and Authentication System segment, USA, Canada, Japan, China and Europe will drive the 11.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$44.6 Billion in the year 2020 will reach a projected size of US$96.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.