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Public Safety Analytics Market Growing at a CAGR 16.7% | Key Player Hexagon, IBM, Cisco, ESRI, Nice Systems

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Public Safety Analytics Market Growing at a CAGR 16.7% | Key Player Hexagon, IBM, Cisco, ESRI, Nice Systems

May 07
20:43 2021
Public Safety Analytics Market Growing at a CAGR 16.7% | Key Player Hexagon, IBM, Cisco, ESRI, Nice Systems

Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), and Haystax (US).
Public Safety Analytics Market by Component (Solution and Service), Analytics Type (Predictive, Prescriptive, and Descriptive), Application, Deployment Mode (On-premises and hosted), Industry Vertical, and Region – Global Forecast to 2022

The Public Safety Analytics Market is expected to be gaining traction due to the rise in the criminal activities and terrorist attacks across border controls; huge government investments in various sectors, such as smart homes and buildings, smart communication, smart transportation, smart utilities, public safety, and connected cars; and increase in adoption of Internet of Things (IoT) and connected devices for public safety across government agencies. The technological proliferation and rise in demand from the public for improved quality of life are some of the other factors, which could contribute to the market growth of the public safety analytics market. MarketsandMarkets forecasts the public safety analytics market size to grow from USD 5.22 Billion in 2017 to USD 11.29 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% during the forecast period.

The person of interest screening application segment is expected to play a key role in the public safety analytics market

The person of interest screening segment is expected to play a key role to change the market landscape and grow at the highest CAGR during the forecast period. This application helps public safety agencies and government agencies in criminal investigations to identify the convict of an offense. In addition, it has one of the most advanced features for public safety and has been deployed in various public infrastructures, such as airports, train stations, government and public buildings, and border control, resulting in a high growth rate.

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The hosted deployment mode segment is expected to be the fastest-growing deployment mode in the public safety analytics market

In the market, the hosted deployment mode segment is expected to be the fastest-growing segment, as it offers organizations with increased scalability, speed, round the clock services, and improved management capabilities. In addition, these hosted services offer the pay-per-use pricing model. Moreover, such hosted or cloud-based public safety analytics solution and services are available in accordance with the customer’s demand, wherein enterprises could start, stop, or modify any service as per their requirement.

There are several established players in the public safety analytics market, such as Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), and Haystax (US). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the public safety analytics market.

Hexagon is one of the leading players in the public safety analytics market. The company has been an established player with a widespread channel to provide public safety analytics solutions and services across the globe. It adopts both organic and inorganic growth strategies to enhance its market presence. For instance, In June 2017, the company launched Intergraph InSight Reporting, a new platform that helps build and deliver massive amounts of data at a faster rate. This platform helps attain public safety by offering deep insights into the data collected from numerous sources for the stakeholders. In addition, the company has made various acquisition partnerships with local as well as global players. In October 2017, Hexagon acquired Luciad, a 5D visualization and analysis solutions provider. This acquisition strengthened Hexagon’s smart applications with 3D, 4D, and 5D capabilities, thereby providing agencies with visual information about the critical incidents that have occurred. In November 2015, the company partnered with Huawei to integrate Huawei’s communications hardware with Hexagon’s safety and infrastructure software solutions. The integrated solutions would be deployed in smart city projects.

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IBM is another established vendor in the public safety analytics market. The company has a strong presence in the US market. It focuses on both organic strategies and inorganic strategies to tap the benefits of the public safety analytics market. For instance, in December 2017, the company partnered with APCO International to combine its IBM Watson analytics platform with APCO’s software to evaluate 911 calls and improve the responsiveness, thus catering to public safety. This has helped agencies proactively protect the public from incidents, such as natural calamities. In January 2017, IBM collaborated with Echelon Corporation to combine its weather-adaptive platform with Echelon’s white tuning solution, which helps controls street lights and provides better visibility to residents during thunderstorms. Moreover, the company has focused on product innovation; for instance, in February 2016, IBM launched a weather data platform, which becomes disaster-ready in case of any upcoming calamity, thus enhancing public safety.

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