Market Size of Global Public Safety Analytics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.82 Billion |
| Market Size (2029) | USD 32.23 Billion |
| CAGR (2024 - 2029) | 26.83 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Public Safety Analytics Market Analysis
The Global Public Safety Analytics Market size is estimated at USD 9.82 billion in 2024, and is expected to reach USD 32.23 billion by 2029, growing at a CAGR of 26.83% during the forecast period (2024-2029).
- On acoount of the increasing security risks, public safety authorities must interact and share information about potential threats to develop a preventive strategy to assure optimal safety.
- Mass shootings rarely cause shock and astonishment in the United States as the country has more weapons in private hands than people. Having learned from these incidents, countries such as Canada are taking steps to prevent gun violence on their soil. The Minister of Public Safety in Canada sanctioned 250 million USD towards the Building Safer Communities Fund (BSCF). The Analytics platforms play an essential role in tracking such incidents and can help cops take timely action before any mishappening occurs.
- The cases of illegal mining have also increased in the past few years. To catch these culprits, police are taking the help of Analytics tools like CCTV Cameras. In India, to address the issue of illegal sand mining, the Goa Police planned to install CCTV Cameras. The plans are to install high-resolution cameras at around 30 potential sites to capture the trucks and people involved in this illegal trade.
- The police department has been collecting increasing video recordings and surveillance footage as technology advances, but this is providing considerable hurdles when processing and evaluating such data. Customized video analytics programs should be designed using artificial intelligence to process video files for review.
- Though the Covid-19 outbreak is diminishing, its after-effects can be felt in the surroundings. In a survey, 88% of the retailers accepted that the pandemic increased overall risk for their company. In December 2022, Walmart also concluded that retail theft was rising in the US. To handle these theft issues, Analytics Safety applications have to be adopted.
