Homeland Security Research Corp. (HSRC) Predicts a Solid 8.6% CAGR for the Global Safe City Market
WASHINGTON DC, Sept. 10, 2019
According to HSRC’s most recently published report, “Safe City Market and Technologies 2019-2024”, the Global Safe City market is expected to reach a CAGR of 8.6%, and by 2024 Asia Pacific will constitute 37% of the total market.
Major shifts in technologies are fueling the digital transformations of urban security, changing our businesses and lives. New advancements in Artificial Intelligence, 5-G connectivity, Face Recognition, Video Analytics, Big Data, Emergency Traffic Management, PSIM, PSAP, NG911 and GIS Based Emergency Notification offer great opportunities to those who best understand how to capitalize on change.
The Safe City Market and Technologies Report (2019-2024), consists of 3 volumes and presents a thorough analysis of 15 technology, 28 national, and 5 regional markets, as well as 5 revenue sources, detailing 197 relevant submarkets.
Crime, traffic control, terror and natural disasters have long been recognized as major challenges to sustainable cities and have a significant impact on quality of life and economic development. To handle these huge responsibilities, law enforcement, public safety and municipal bodies consider a more comprehensive approach that includes new synergies between early warnings and real-time circumstances, providing a complete cycle for intelligence, evidence, response and investigations.
For the first quarter of 2018, the US Major Cities Chiefs Association Violent Crime Survey shows that crime has overall decreased in number compared to the same period of time during the previous year. According to data collected from 65 law enforcement agencies from some of the largest US cities, the number of homicides compared to 2017 has lessened. Moreover, major cities in the US have experienced approximately 4000 less robberies, 2000 less aggravated assaults, and about 600 less non-fatal shootings compared to 2017.
Strengthening operable and interoperable communications has not only been not a U.S. priority, but was a recommendation from the 9/11 Commission Report as well. The ability for public safety responders to communicate via voice, data or video is essential to operate in any public safety environment. Without this capability, operations can be slowed or even derailed resulting in the loss of lives and property. Urban Areas have made a tremendous progress in this area utilizing UASI funds. From 2003 to 2018, Urban Areas spent an estimated $2 billion on enhancing and sustaining communications capabilities. This is the largest single expenditure rate for any of the Target Capabilities during the history of the grant program.
The next-generation 911 (NG911) system, which allows 911 callers to share videos, images and texts with dispatchers, will replace the U.S.’s current 911 infrastructure, which is largely comprised of old, less flexible and soon-to-be-obsolete technology. It will allow a faster and more reliable transfer of digital information between the public and 911 call centers as well as between PSAP to PSAP. Today, the 911 system is a critical service providing access to public safety and first responders in any time of need. The procurement of NG911 equipment, components, and services is expected to be ongoing throughout the transition to NG911 across the US. Procurement will include an ESInet, 911call-handling equipment, recording and logging equipment, GIS and mapping services, NGCS, and possibly multiple levels of systems.
This “Safe City Market and Technologies (PIAM, PSIM, Face Recognition, Video Surveillance & Analytics, C-2 to C5ISR, Big Data, AI, GIS Based Emergency Notification, Managed Security Services, Public Events Security, Emergency Communications, Tracking, Cybersecurity, Traffic Management and Standoff Biometrics) – 2019-2024” report is a resource for executives with interests in the industry. It has been explicitly customized for industry and urban decision-makers to identify business opportunities, developing technologies, market trends and risks, as well as to benchmark business plans.
For more information, or to purchase a copy, please visit us here.
About Homeland Security Research Corp. (HSRC)
Homeland Security Research Corp. (HSRC) is an international market and technology research firm specializing in the Homeland Security (HLS) & Public Safety (PS) industry. HSRC provides premium off-the-shelf and customized market reports on present and emerging technologies and industry expertise, enabling global clients to gain time-critical insight into business opportunities. HSRC’s clients include the U.S. Congress, DHS, U.S. Army, U.S. Navy, DOD, DOT, GAO, NATO and EU, among others; as well as government agencies in Japan, Korea, Taiwan, Israel, Canada, UK, Germany, Australia, Sweden, Finland, Singapore. With over 950 private sector clients (73% returning), including major defense and security contractors and Fortune 2000 companies, HSRC earned the reputation as the industry’s Gold Standard for HLS & PS market reports.
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