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IoT in Public Safety Market Expected to Reach USD 29.68 Billion by 2027|Top Players such as-Huawei, Hitachi & Siemens AG

 IoT in Public Safety Market

IoT in Public Safety Market

IoT for public safety solutions helps in minimizing the impact of cyber-attacks, and natural disasters on the economy.

PORTLAND, PORTLAND, OR, UNITED STATE, March 22, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "IoT in Public Safety Market Expected to Reach USD 29.68 Billion by 2027 | Top Players such as - Huawei, Hitachi & Siemens AG." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global IoT in public safety market size was valued at USD 11.87 billion in 2019, and is projected to reach USD 29.68 billion by 2027, growing at a CAGR of 12.4% from 2020 to 2027.

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Surge in number of smart city projects across the developing nations and rise in adoption of machine learning and AI-based public safety solutions boost the growth of the global IoT in public safety industry. In addition, increasing number of natural calamities and terrorist attacks across the globe positively impacts the IoT in public safety market growth. However, high implementation cost and budget constraint for deploying smart devices are expected to hamper the market growth.

The global IoT in public safety market is segmented into component, type, end user, and region. In terms of component, the market is bifurcated into solution and service. Depending on type, it is fragmented into surveillance systems, incident management & response, disaster management, security systems and others. As per end user, the market is segregated into government & public sector, transportation, healthcare, retail, education, manufacturing and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By type, the IoT in public safety market was led by the surveillance systems segment in 2019, and is projected to maintain its dominance during the forecast period. Increase in need of video surveillance across the developing nations of Asia-Pacific and LAMEA countries for managing and controlling of traffic activities drives the growth of the market in this segment.

The government & public sector is expected to garner a significant share during the forecast period. This is attributed to rise in demand for various IoT technology enabled devices among the government for having a better idea about their economy and for predicting and analyzing the criminal activities across the nation. However, the healthcare segment is expected to grow at the highest rate during the forecast period, owing to rising government initiatives in developing nations for promoting digital healthcare and surge in adoption of IoT devices for treatment of patients.

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Region-wise, the IoT in public safety market was dominated by North America in 2019, and is expected to retain its position during the forecast period. This is attributed to surge in deployment of various smart cities project and government bodies realizing the significance of IoT devices for public safety and security.

The key players profiled in the IoT in public safety market analysis are Cisco Systems, Inc., Huawei Technologies Co., Ltd., Hitachi Vantara, Intel Corporation, IBM Corporation, Microsoft Corporation, NEC Corporation, Siemens AG, Sierra Wireless, and West Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Key Findings Of The Study

⁕ By type, the surveillance systems segment generated the highest revenue in 2019.

⁕ Region-wise, North America generated the highest revenue in 2019.

⁕ Depending on component, the solution generated the highest revenue in 2019.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Other Trending Report:

1. Public Safety and Security Market

About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
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