Security Systems News

MAY 2018

Security Systems News is a monthly business newspaper that reaches 25,100 security installers, product distributors, central stations, engineers & architects, and security consultants. Our editorial coverage focuses on breaking news in all major se

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Page 8 of 82 May 2018 SECURIT y S y STEMS NEWS Security Stat S 2 By Spencer Ives PUNE, India—According to a MarketsandMarkets study, the market for public safety and secu- rity is growing globally, with the North American market compris- ing the biggest share. The global public safety and security market was valued at $247.55 billion in 2016, accord- ing to MarketsandMarkets, and the firm expects it to reach $532.39 billion by 2022, at a CAGR of 14 percent over that time. "North America is expected to grow from USD $102.79 bil- lion in 2017 to a market size of USD $188.82 billion in 2022 at a CAGR of 10.9 percent," Padmini Moundekar, MarketsandMarkets industry analyst, Information Security, told Security Systems News in an email interview. "North America is expected to hold the largest market share and dominate the public safety and security market from 2017 to 2022, due to the high number of early technology adopters in this region. Specific budget allocations and mandated public safety and security policies are expected to make North America the most lucrative region for vendors," Moundekar said. In terms of the public safety and security market, Market- sandMarkets is focused on the technology development as well as solution and service vendors. "The study covers all the major segments and analyses of the trends and key dynamics govern- ing the public safety and security market," Apurva Ranbhise, Mar- ketsandMarkets industry analyst, Information Security, told SSN via email. "The technology backbone of public safety and security solu- tions comprises of critical com- munication network, C2/C4isr system, biometric security and authentication system, surveil- lance system, scanning and screening system, emergency and disaster management, cyber secu- rity, public address and general alarm, and backup and recovery systems," said Ranbhise. Current trends in public safety and security technology include "body-worn cameras, in-vehicle video and smartphones which works as one integrated system that automatically captures the incidents and digital evidence," according to Ranbhise. In addition, Ranbhise said, "Critical communication network technologies are increasingly being adopted by organizations in North America as in public safety and security market space data is becoming mission critical for next-generation public safety communication." Smart city initiatives are among the drivers for the public safety and security market. "Smart tech- nologies are revolutionizing the structure of cities. Smart technol- ogies such as smart energy meters, security devices, smart applianc- es, and smart transportation are being used to develop many smart cities. The integration of security technologies in the smart cities is expected to drive the growth of public safety and security mar- ket," Moundekar said. The Internet of Things also plays a role, integrating various security infrastructures, including cybersecurity, traffic safety, crowd sensing and crime detection, among others. "IoT helps cities to achieve public safety goals by offering various capabilities such as real-time monitoring, real-time analytics and improved decision making," said Moundekar. There is also a rise in criminal activities and terrorist attacks that is driving the market, according to Moundekar. Primary vertical markets for public safety and security solu- tions include homeland security, emergency services, critical infra- structure security, and transporta- tion systems, Ranbhise said. High installation and man- agement costs are one potential inhibitor for the market, accord- ing to Moundekar. Another is the lack of efficient storage or data management solutions. SSN Global public safety and security market growing

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