Public Safety And Security Market, over the projected period, the public security and defence industry is projected to increase from USD 365.0 billion in 2020 to USD 516.5 billion by 2027, at a compound annual growth rate (CAGR) of 7.2%. -- threats of terror attacks and growing public safety infrastructure projects to boost the increase in demand for smart cities.
Development in the public safety and security sector is motivated mainly by the rates of illegal acts and terrorist threats, stricter government restrictions on public safety, increased demand for IoT in public safety, rising smart city programmes, and developments in public safety and protection technologies.
Growing government efforts to minimise the reaction time and damage arising from man-made and natural disasters is also expected to fuel demand growth. The US government has spent about USD 81 billion in public protection & defence by 2021, according to U.S. Homeland Security.
Report : Public Safety And Security Market - By Service (Managed Services, Professional Services), By Vertical (Government, Manufacturing, Transportation and Logistics, Education, Retail, Hospitality, Healthcare, Others), By Solution (Cyber Security, Critical Communication Network, Biometric Security and Authentication System, Backup and Recovery System, Emergency and Disaster Management, Surveillance System) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027