IoT for Public Safety Market – Overview
The global IoT for public safety market is projected to grow at a promising rate from 2021 to 2031 (forecast period). The present global urban population is roughly 4.4 billion people, which implies that the number of people living in cities has quadrupled in the last 60 years. This fast urbanization also brings a slew of public-safety hazards, the most serious of which are natural disasters and urban safety issues. To address these issues, governments around the world are constantly attempting to improve their public safety structures by implementing IoT-enabled public safety solutions and services.
Furthermore, IoT using Machine Learning (ML) and Artificial Intelligence (AI) technology is expected to propel the global IoT for public safety market. The combination of AI and IoT ensures safety measures and helps reduce upcoming emergency events by analyzing existing data trends.
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IoT for Public Safety Market – Competitive Landscape
Key players operating in the global IoT for public safety market are Hitachi Vantara, Cisco Systems, Microsoft, IBM, Nokia Networks, Sierra Wireless, NEC, Telit, Throughtek, and West Corporation.
Key players have used new product launches, agreements, partnerships, and collaborations as significant growth tactics to improve their services and deliver better solutions and associated services in order to expand their market reach. For instance, Microsoft and Nokia partnered in November 2019 to accelerate transformation and innovation across industries through Artificial Intelligence (AI) and IoT.
IoT for Public Safety Market – Trends and Opportunities
The rising number of illegal activities, terrorist attacks, and concerns about national security and public safety are the primary factors expected to drive the global IoT for public safety market. National or municipal authorities are required to warn citizens in the event of a calamity. In such cases, individuals in the impacted region can be provided with quick and accurate information via IoT devices such as billboards or connected road displays, bus stop displays, connected autos, and displays inside buses. Thus, with the assistance of such a public alert system, disaster-related damages can be greatly reduced. As a result, IoT has a wide range of applications in the field of public safety, which is expected to fuel the global IoT for public safety market.
Moreover, the growing need for security surveillance, unmanned aerial, and wearable devices indicated a favorable prognosis for market growth. Expanding smart city initiatives are expected to produce a substantial need for robust public safety solutions and services. The increasing use of IoT and M2M in information networks and biometric and authentication systems are projected to propel the global IoT for public safety market during the forecast period.
Furthermore, advances in IoT platforms, particularly in the security and safety of smart devices, have been laying the groundwork for new and exciting avenues in the IoT for the public safety market. The adoption of technologically superior devices such as AI and MI-based management initiatives for smart cities are projected to contribute to the global IoT for public safety market growth. Additionally, updated communication networks, such as telecom networks, provide a solid framework for novel product releases in the IoT for the public safety market.
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IoT for Public Safety Market – Regional Landscape
North America IoT for public safety market is expected to grow due to technologically advanced infrastructure in North American countries, increased government expenditure on IT infrastructure, and growing adoption of emerging technologies such as smart cities, IoT, and mobility.
The IoT for public safety market in Asia Pacific region is projected to witness growth during the forecast period. Increasing investments in infrastructure by private investors and technological improvements in a variety of industries to improve their IT infrastructure are expected to fuel the regional market expansion. Furthermore, the Indian government's Digital India plan is expected to significantly help the IoT for public safety market.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.