29 Apr, 2020, 09:30 ET
CHICAGO, April 29, 2020 /PRNewswire/ -- Post COVID-19, the size of the "COVID-19 Impact on Homeland Security Management Market by Technology (Thermal Imaging, AI-based Solution and Blockchain Solution), End-Use (Cyber Security, Aviation Security, Law Enforcement, and Risk & Emergency) and Region - Global Forecast to 2025", under realistic scenario is estimated to grow from USD 1,035 billion in 2020 and projected to reach USD 1,081 billion by 2025, at a CAGR of 0.9%. As per HLB's global survey of business leaders, multinational companies are not just adopting new technologies but also successfully navigating the pandemic in order to survive. Post COVID-19, new business norms are expected for international structuring and operational strategies. The homeland security departments of several countries have also modified their operating strategies due to COVID-19. The agencies within homeland security departments, such as FEMA, law enforcement, and critical infrastructure, are adopting strategic shifts suggested by their respective governments, such as implementing Essential Critical Infrastructure Workforce guidelines and national strategic plans for the effective management of COVID-19.
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"Risk & Emergency to hold a significant share of the homeland security management market in 2020"
The short-term demand for technologies in the HLS segment, such as thermal scanners and drones, is going to increase. However, the demand for long-term demand for technologies such as 5G implementation will see neutral to negative growth in the next 12 months. Extensive implementation of AI-based solutions, such as virtual healthcare assistants (chatbots) to answer questions related to COVID-19, is expected in the risk and emergency services segment. Law enforcement agencies are also using surveillance drones for monitoring public areas during lockdowns.
"AI-based solutions to grow significantly during the forecast period"
COVID-19 patients need frequent monitoring of their lung infections using chest X-rays, but quantifying the extent of the infection is a time-consuming step for already overloaded radiologists. qXR by Qure.ai can detect findings such as ground-glass opacities and consolidation abnormalities that are indicative of COVID-19. This AI-powered solution also helps to detect tuberculosis, chronic obstructive pulmonary diseases, lung malignancies, and medical emergencies such as lung collapses and cardiac disorders. It can also localize lesions and quantify the volume of an infection.
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"Asia Pacific to hold the largest share of the global homeland security management market during the forecast period"
The Asia Pacific region holds the largest market share in the homeland security industry. Countries such as India, China, and Japan are deploying AI-based security solutions. In India, a Gurgaon-based startup, Staqu, has launched a new thermal camera under its video analytics platform, JARVIS. This cutting-edge technology alerts users of anyone with a body temperature above 37°C and examines heat signatures directly through its cameras, enabling authorities to identify and further inspect suspected carriers of the novel coronavirus. At the same time, companies that provide facial recognition solutions are using the outbreak as an opportunity to push the capabilities of their products. As Quartz reported, China's SenseTime now boasts of a software that can identify people without face masks on.
Some of the major players operating in the homeland security and emergency management market are Lockheed Martin (US), Raytheon Company (US), Northrop Grumman (US), Leidos (US), IBM (US), FLIR Systems (US), Thales Group (France), Elbit Systems (Israel), General Dynamics (US), and Unisys (US).
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