Global IT in Public Safety, HLS & Intelligence Agencies Market Highlights 2022 – 2030
The global IT in public safety, HLS & intelligence agencies market is estimated to garner a sizeable revenue and grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be primarily attributed to the growing adoption of cloud-based applications and services, and rising emergence of big data analytics in public safety and security. It is calculated that cloud data centers will process 94 percent of all workloads by the end of 2021. Around 34 percent of employees around the world have admitted that they prefer to work in the cloud. In addition to these, rapid growth of cybersecurity incidents across the world, and increase in government spending on homeland security and emergency management are also expected to drive growth to the market segment in the upcoming years. Furthermore, several separatist movements globally are still armed and highly active, which results in creation of hazardous situations for nations in which these are taking place. This is a crucial factor projected to offer ample opportunities to the market in the near future.
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The market is segmented by end use into cybersecurity, aviation security, maritime security, law enforcement, critical infrastructure security, risk and emergency services, border security, and others. Out of these, the cybersecurity segment is anticipated to witness the highest growth in the global IT in public safety, HLS & intelligence agencies market. This can be accounted to the growing deployment of web and mobile applications by organizations. Apart from these, enhanced cybersecurity products provide comprehensive security to critical business applications, which is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of solution, the systems segment is assessed to acquire the largest share during the forecast period, which can be credited to the increasing demand for non-lethal weapons for controlling riot situations.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global IT in Public Safety, HLS & Intelligence Agencies Market Regional Synopsis
On the basis of geographical analysis, the global IT in public safety, HLS & intelligence agencies market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing emphasis on modernization of existing IT infrastructure for public safety, and increasing geo-political tensions around the region. In addition, rise in defense related expenditure is also projected to boost the region’s market growth in the near future. As per the World Bank, India’s total military expenditure as a share of GDP in 2018 was 2.833 percent, which grew up to 2.395 percent in 2019. Moreover, the market in North America is anticipated to grab the largest share during the forecast period owing to the high usage of IT in HLS and intelligence agencies, emergence of strict regulatory framework and strong presence of prominent market players in the region.
The global IT in public safety, HLS & intelligence agencies market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Our in-depth analysis of the global IT in public safety, HLS & intelligence agencies market includes the following segments:
- New Installation
By End Use
- Aviation Security
- Maritime Security
- Law Enforcement
- Critical Infrastructure Security
- Risk and Emergency Services
- Border Security
- Growing Adoption of Cloud-Based Applications and Services
- Rising Emergence of Big Data Analytics in Public Safety and Security
- High Installation and Maintenance Cost of Public Safety Systems
Top Featured Companies Dominating the Market
- 3M Company
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- ABB, Ltd.
- Accenture Plc
- AeroVironment Inc.
- AT&T Inc.
- Avigilon Corporation
- BioEnable Technologies Pvt Ltd
- Bollinger Shipyards, Inc
- Cisco Systems, Inc.
- China Security & Surveillance, Inc.