According to Verified Market Research,the Public Safety Analytics Market was valued at USD 5.72 Billion in the year 2018. A research tech driven company Report Linker suggests that it is expected to achieve a CAGR of over 25.4% by 2025.
Countries across the world are investing majorly to enhance their monitoring and communication systems.The safety concerns among the public safety agencies to safeguard the country and its citizens from direct threats are constantly increasing across the globe. They have driven the public safety analytics market to the next level.
The City of New Orleans had developed a “Real-Time Crime Center” for proactively preventing and responding to public safety issues. The city focused on gathering static data, anecdotal information, real-time intelligence and analytics patterns to anticipate crime.It provides real-time insight into 911 calls for service, so officers can be redirected if it’s determined there isn’t an immediate need for them at an incident.This allows effective use of patrol resources and can help ensure that personnel are available to respond to a more critical incident.
The growth of the global Public Safety Analytics Market is induced by the increase in criminal activities rate. It has made the agencies adopt data analytics as a key solution for public safety.
With public safety analytics, agencies convert the complex data into useful actionable insights comprising of pattern recognition,human network analysis,behavior analysis, monitoring and incident detection. They enhance the operational efficiency and precisely predict the criminal activity before it actually happens.
Companies like Wynyard Group, IBM, Splunk Inc. and more across the globe are expected to be the major players in the public safety industry in the upcoming years due to advancements in their offerings.
As the violent crime rate is escalating, agencies are grappling with efficient ways to keep a check on such activities. Governments and authorities are increasingly developing robust plans to reduce the response time and the damage caused by both natural and man-made disasters to save more lives than ever before.
Security officials across many cities have agreed to provide a safer community for citizens and solve critical cases by breaking criminal patterns.
To counter criminal activities at macro levels, the people-focused analytics helps in identifying and narrowing down who is likely to offend and re-offend target diversionary activities. Furthermore, it helps in offering support and rehabilitation services to the officials and victims.
Additionally, the increasing investment across smart city initiatives is propelling the growth of the Public Safety Analytics Market but the lack of awareness about solutions and services is hampering it to some extent.By 2025, the adoption of public safety services will grow manifold but the financial resources and budget might prove to be a big challenge for the market.