Increasing need for security in critical infrastructure and utilities to drive the public safety and security market
According to a new report, the public safety and security market size is estimated to grow from USD 220.82 billion in 2015 to USD 370.64 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 10.91% from 2015 to 2020.
The public safety and security market is driven by factors such as increasing rate of natural disasters in the Asia-Pacific (APAC) region, and modernized policies and regulations.
Critical communication networks are expected to gain the maximum traction during the forecast period
The critical communication network is estimated to contribute the largest market share during the forecast period. Furthermore, due to increase in the deployment of public safety and security trends in public, design and consulting is expected to gain traction and have the highest market share. The public safety and security market is also projected to witness growth in homeland security and manufacturing sectors, with homeland security vertical contributing the largest market share during the forecast period.
Public safety and security training and support services are expected to grow with the highest rate from 2015 to 2020. However, managed security services are expected to contribute the largest market share during the forecast period.
