Showing posts with label Critical Infrastructure Security. Show all posts
Showing posts with label Critical Infrastructure Security. Show all posts

Public Safety and Security Market to Surpass USD 1.2 Trillion by 2032, Driven by AI and IoT Adoption

According to the latest market research study published by P&S Intelligence, the global public safety and security market reached USD 517.6 billion in 2024 and is projected to grow to USD 1,214.2 billion by 2032, reflecting a robust CAGR of 11.4% from 2025 to 2032. Growth is being driven by rapid adoption of AI and IoT technologies, which are advancing smart‑city initiatives and boosting surveillance and emergency response capabilities. Additionally, rising crime rates, catastrophic accidents, and increasing terrorism threats are compelling governments and enterprises to invest heavily in comprehensive security infrastructure. Regulatory support—including increased funding and policy reforms—combined with growing public demand for effective safety measures and enhanced global cooperation are also stimulating market expansion.

Key Insights

  • Solutions dominate the component landscape, holding approximately 60% market share in 2024, thanks to their widespread use in surveillance, alarming, and safety across urban, commercial, and infrastructure sectors.
  • The services segment is the fastest‑growing, projected to expand at a 12% CAGR, as organizations outsource security needs to specialist providers for access to advanced tech, expert skills, and cost efficiencies.
  • In application breakdown, homeland security accounted for around 45% of revenue in 2024, with significant government investment—such as the U.S. dedicating approximately USD 100 billion annually across federal, state, emergency, and law enforcement services.
  • Critical infrastructure security is the fastest‑growing application vertical, with an anticipated 13.5% CAGR, driven by escalating interconnectivity and cybersecurity threats.
  • From a deployment perspective, on‑premises solutions hold about 65% share in 2024, favored for greater control over sensitive data, lower latency, customization, and compliance—especially where privacy is paramount.
  • Meanwhile, cloud‑based deployment is gaining ground with an expected 15% CAGR, offering scalability, real‑time monitoring, easier access to updates, and reduced reliance on extensive onsite infrastructure.
  • Regionally, North America led the market in 2024 with roughly USD 210 billion in revenue, supported by a mature vendor landscape, stringent regulations, and high smartphone penetration.
  • The Asia‑Pacific (APAC) region is forecast to grow at the highest CAGR of 13%, buoyed by strong adoption of surveillance systems, massive mobile internet user bases (e.g., China’s 1.04 billion internet users in 2022), and active smart‑city rollouts across India and other nations.
  • In India, initiatives like Smart Cities Mission, Swachh Bharat Mission, and increased CCTV installations—especially in states like Telangana and Tamil Nadu, which together account for over 50% of the country's surveillance cameras—are significantly boosting demand.
  • Competitive dynamics remain fragmented with global and regional players such as Cisco Systems, Honeywell, Motorola Solutions, IBM, NEC, Siemens, Thales, Huawei, Hexagon, L3Harris, Esri, and Axon Enterprise pursuing M&A and innovation strategies to strengthen market position.
  • Innovation continues through partnerships and product launches: in mid‑2024, Cisco and Singapore’s HTX began trialing 5G‑and‑AI homeland security solutions; Cisco and Telenor expanded their collaboration to enhance cloud connectivity and cybersecurity in underserved regions; Axon launched new lightweight, customizable body cameras in January 2024 targeting retail and healthcare environments.
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