North America Public Safety & Security Market Forecast 2017-2024
The North America public safety and security market is projected to grow from $ 110.59 billion in 2016 to $ 203.78 billion by 2024, with a CAGR of 7.94% between 2017 and 2024. The base year considered is 2016 and the forecast period is 2017-2024. Rising criminal activities, natural disaster and cross-border terrorism are some of the key factors driving the public safety and security market. Also, the need for firm government policies and regulations for public safety is a major factor.
The North America security market is segmented based on solution, service, vertical, emergency services and manufacturing. The solution market is further sub-segmented as critical communication network, surveillance system, biometric security and authentication system, scanning and screening system, C2/C4isr system, emergency and disaster management, backup and recovery system, public address and general alarm, and cyber security. It is also segmented by service on the basis of Managed service, security service, professional service, design and consulting, installation and integration and support and maintenance and training and education. The market is also segmented by vertical on the basis of homeland security, law enforcement agencies, border control, public transportation security and critical infrastructure security. Also, the market is segmented by manufacturing on the basis of energy and chemicals, automotive & logistics and other manufacturing segments.
International Business Machine (IBM) Corporation, Cisco Systems, Inc., Thales Group, Honeywell International Inc., NEC Corporation, Huawei Technologies are some of the major players in public safety & security market..