LONDON, March 24, 2016 /PRNewswire/ -- Increasing need for security in critical infrastructure and utilities to drive the public safety and security market
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.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people in Tier 1 (65%), Tier 2 (10%), and Tier 3 (25%) companies. The interviews were conducted with various key people such as C-level (50%), director level (35%), and other executives (15%) operating in the public safety and security market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (20%), and RoW (30%).
Personalized training and education is an important category under the service domain. The public safety and security vendors are coming up with various education programs to mitigate gaps and correct implementation of the solution. The market of training and education is expected to grow in the future due to the technological obsolescence. The training and education helps to achieve critical skills for improving the overall data security, endpoint security, and network security.
The various key public safety and security vendors and service providers profiled in the report are as follows:
1. Cisco Systems, Inc.
2. NEC Corporation
3. Thales Group
5. Honeywell International, Inc.
7. Alcatel -Lucent
8. Northrop Grumman Corporation
9. Huawei Technologies
10. AGT International
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the public safety and security market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, and mergers and acquisitions.
Download the full report: https://www.reportbuyer.com/product/3377285/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/public-safety-and-security-market-by-solution-service-vertical-and-region---global-forecast-to-2020-300241284.html