Public Safety Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Posted May 18, 2021 by manojshinde

The Public Safety Analytics Market is expected to witness a CAGR of over 25.4% during the forecast period (2021 - 2026).
Owing to the increasing security threats, it has become imperative for public safety agencies to collaborate and share information regarding possible threats to work towards a preventive mechanism to ensure optimal safety.

- Governments are increasingly developing mitigation plans to reduce the response time and damage caused by both natural and man-made disasters and to save more lives than ever before. There has been a drastic increase in the number of mass shootings across the world. For instance, the Boston Police Department (BPD) invested in the full spectrum of public safety, which accounts for almost 3.8% or USD 14.6 million increase over the previous fiscal year.

- Countries across the world are investing in enhancing their surveillance and communication systems. For instance, the Ipswich City Council (Australia) is adopting new technologies such as video analytics. The video analytics platform has enabled this city to become smarter, supporting law enforcement, optimizing municipal operations and transforming the video into actionable intelligence for the benefit of the residents.

- Law enforcement agencies are always facing complex and continuously evolving crimes. To decrease the rate of crime and to increase the speed of response, countries across the world are adopting technologies such as data collation and analysis. For this, the Indian Police force has started taking an increasing interest in analytics. They are also using predictive analytics to know which areas are most prone to crimes.

- Apart from law enforcement, fire and emergency medical services have also embraced analytics. For instance, the Boston Fire Department adopted analytics to manage its operations while continuing to prevent and fires. This has helped the fire department make better decisions on whether to make personnel or equipment adjustments according to the situation.

Key Market Trends

Law Enforcement Expected to Hold a Significant Share

- One of the primary tasks of law enforcement agencies is to maintain law and order, protect citizens and critical infrastructure of the state. With the growing number of crimes and other activities such as terrorist attacks demands for enhanced public safety solutions in the law and enforcement departments of a country. For instance, according to the FBI, in the United States, the crime rate was 382.9 cases per 100,000 of the population in 2017. The growing numbers are prompting the law enforcement agencies to adopt measures to reduce such activities, which augments the demand for public safety analytics market.

- Across the world, police are increasingly using AI and data analytics to develop new tools and methods of working to catch criminals quickly and efficiently. By analyzing data for major crimes such as murders patterns and trends in the behaviour of these crimes can be noted down which will help in reducing these crimes.

- For instance, Halton Regional Police services (Canada) use analytics to improve its operational efficiencies and decision-making capabilities. With this solution in place, Halton Regional Police has been able to make smarter decisions on allocating officers during peak call-for-service, mapping criminal activity hotspots, etc.

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North America is Expected to Hold the Largest Share

- North America has traditionally been the most proactive and a leading spender towards public safety initiatives. The United States is facing lots of challenges that have threatened the safety of its citizen. The issues range from Terrorism, mass shooting, Prison management, natural calamities, migration and many more. According to the FBI, in 2017, the District of Columbia had the highest violent crime rate in the country, with 1,004.9 violent crimes per 100,000 of the population. Similarly, according to the StatCan, in 2017, there were around 1,098.4 violent crimes reported per 100,000 residents in Canada. With this growing rate of crimes, the demand for public safety analytics market is likely to grow over the forecast period.

- Louisville MetroSafe deployed Intergraph Business Intelligence for Public Safety software from Hexagon to help in analysis and performance monitoring. The software allows MetroSafe to measure and evaluate response, determine where response times are distributed, and collect and report vital information in real time.

- Companies in the region are also entering into strategic partnerships to cater to the needs of its customers. For instance, in 2018, Motorola Solutions announced a partnership with LexisNexis Risk Solutions. This partnership will bring LexisNexis Risk Solutions data and analytics into Motorola Solutions’ public safety software platform, allowing users to detect patterns, anticipate events, and deploy resources efficiently.

Competitive Landscape

The public safety analytics market is competitive and consists of several major players. Many companies are increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.

- July 2020 - FARO Technologies announced the launch of its updated Freestyle 2 portable handheld 3D scanner. It is considered ideal for investigators and reconstructionists who need fast and complete scene documentation. Freestyle 2 offers immediate real-time visualizations with photorealistic reality capture capabilities. The result is unmatched confidence that what is captured is accurate while offering incomparable access to even the most confined spaces. The device is a significant solution for the public safety arena by given its extraordinary degree of data capture and photorealism.

August 2019 - Sprint launched Curiosity Smart Video Analytics. The solution is highly adaptable to deliver automated alerts and advanced video analytics technology, helping public safety organizations to make smarter decisions, respond faster to potential emergencies, and improve efficiency while keeping people and property safe.

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Issued By Statzy Market Research
Country India
Categories Technology
Tags public safety analytics market , public safety analytics market forecast , public safety analytics market share , public safety analytics market size
Last Updated May 18, 2021