by Public safety analytics involves the collection and evaluation of large amounts of data generated by various public safety and law enforcement organizations to gain actionable intelligence and insights. These analytics tools utilize real-time data from sources such as police records, emergency calls, surveillance cameras, social media posts, and IoT-connected devices to help agencies improve operational efficiency, identify patterns and trends in criminal activities, deploy resources strategically, and enhance community engagement. Some key features of public safety analytics solutions include predictive analysis, geospatial analysis, facial recognition, social network analysis, and risk assessment.
The global Public Safety Analytics Market is estimated to be valued at US$ 5.26 Bn in 2023 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
Artificial Intelligence (AI) and advanced machine learning algorithms are playing a pivotal role in transforming public safety by augmenting human decision-making. These technologies are being utilized for predictive policing, behavioral analysis, identifying hidden patterns, and boosting investigation outcomes. AI-powered tools equipped with capabilities like automated license plate recognition, predictive analytics for anticipating criminal activities, are aiding law enforcement agencies globally. Integration of IoT, big data, and cloud computing is another important trend, as it allows collection of real-time data from a variety sources and performing cross-agency collaboration and communication for emergency response.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the market requires huge capital investment in terms of software, hardware and data management. However, presence of open source analytics solutions can encourage new players.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of various solutions from multiple vendors. Buyers can switch between vendors based on customized analytics requirements.
Bargaining power of suppliers: The bargaining power of suppliers is low as the market has numerous data providers, analytics tools and service providers. Switching cost is low for vendors.
Threat of new substitutes: Threat from new substitutes is moderate as players are exploring advanced technologies like AI, IoT and machine learning in public safety domain to gain competitive edge.
Competitive rivalry: The competition in the market is high owing to presence of global and regional players catering to customized needs through differentiated offerings.
Key Takeaways
The global Public Safety Analytics Market Share is expected to witness high growth during the forecast period of 2023 to 2030.
Regional analysis:
North America holds the largest share of over 35% in the global public safety analytics market. This is attributed to rising expenditure on public safety technologies and presence of key players undertaking various projects for city surveillance. Europe and APAC are also emerging as lucrative markets driven by increasing concerns regarding urban security and emergency response management.
Key players:
Key players operating in the Public Safety Analytics market are GoPuff, DoorDash, Instacart, Uber, Glovo, Rappi, Gorillas, Getir, Jokr, Zapp, Flink, 1520, Buyk, Deliveroo, Seazon, Yango Deli, Delivery Club, Bolt Food, Swiggy Instamart, Blinkit. These players are focusing on launching advanced solutions and forming partnerships to cater to diversified needs of public safety agencies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
