Digital Spending In Public Safety Market: Introduction
According to a new market report pertaining to the global digital spending in public safety market published by Transparency Market Research the global digital spending in public safety market is projected to reach value of ~US$ 201 Bn by 2027. The digital spending in public safety market is projected to expand at a CAGR of ~5% from 2019 to 2027. Expansion of the market can be attributed to growing trend of IoT. This market in Middle East & Africa is anticipated to grow at a significant CAGR, followed by Asia Pacific, during the forecast period.
Rise in Number of Smart City Projects to Drive Digital Spending in Public Safety Market
The increasing push toward digital spending in smart city projects across the world is expected to result in huge and steady growth of thousands of databases and sensors. The rising number of sensors and databases in smart city projects is likely to provide all kinds of information. Besides, most of the volume of data is expected to be collected and processed in smart city projects for intelligent transportation, traffic management, smart outdoor lighting, environmental monitoring, and fixed visual surveillance. Moreover, to develop cities with smarter energy infrastructure, governments are using innovative technology and data to create efficiencies, economic development, and sustainability to enhance the quality of life for people living and working in cities.
Market Segmentation: Digital Spending In Public Safety Market
The digital spending in public safety has been segmented on the basis of component, end user, and region. On the basis of component, the digital spending in public safety market can be segmented into solution and service. The solution segment has been classified into in-vehicle, in-field, in-station, and network communication infrastructure. Furthermore, the in-vehicle sub-segment has been divided into device and system, which includes Light Detection and Ranging (LIDAR), License-plate reader, Global Positioning System (GPS), Automated Vehicle Location (AVL) system, and others. The in-station sub-segment has been categorized into software and system, which includes artificial intelligence, Big Data analytics, video analytics, Business Intelligence System (CBI), Drive Safe Enforcement System, Violation Processing System, and others.