Policing Technologies Market: Snapshot
The policing technologies market in Europe is characterized by the presence of large multinational companies concentrated on research and development activities so as to remain competitive. The rise in terrorist attacks across the region, the surge in crime rates, and severe migration crisis have compelled security forces in Europe to adopt advanced policing technologies.
Police departments in some of the most developed regions of the world have been relying on policing technologies to enhance their responsiveness, control crimes, and reduce fatalities. The policing technologies market in Europe is poised to expand at a 6.0% CAGR from 2016 to 2024, with the opportunity rising from US$1.4 bn in 2015 to be worth US$2.4 bn by the end of the forecast period.
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Policing Technologies Most Widely Used for Detection and Surveillance
The policing technologies market is segmented on the basis of type into communication technologies, less lethal technologies, aviation technology, detection and surveillance technology, and others. Among these, detection and surveillance technology emerged as the leading contributor in the policing technologies market in Europe. The rising focus on the part of the police department of various countries so as to reduce crimes is propelling the demand for detection and surveillance technologies.
Aviation technology is likely to expand at the highest CAGR of 6.8% during the forecast period of 2016 to 2024. These technologies have proven to be extremely essential in time-critical situations such as searching for missing people or surveying a hostage scene. The demand for aviation technologies is anticipated to receive a boost from the rising use of drones for security purposes.
U.K., Russia to Witness Substantial Growth in Demand for Policing Technologies
The Europe policing technologies market comprises the U.K., Germany, Russia, France, Italy, and others. In 2015, the U.K. led the policing technologies market in Europe, accounting for a share of just over 26%. Expanding at a rapid pace over the coming years, the policing technologies market in the U.K. is expected to retain its lead through 2024. The market is driven by the growing application of automatic number plate recognition technology by the police force. The introduction of handheld touchscreen devices to scan the digital fingerprints of suspects is also contributing toward the demand for policing technologies in the U.K.
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France is also a major market for policing technologies in Europe and is fueled by the introduction of computers or mobile devices in police cars. The market in France also benefits from the rising application of video surveillance technology and image processing software by the police force.
Although the U.K. is predicted to emerge as the fastest growing regional market for policing technologies by 2024, the market in Russia is forecast to witness rapid growth as well. The increasing adoption of drones by the police to control traffic is likely to be responsible for this future growth.
Some of the key players in the Europe policing technologies market are PredPol, Inc., Aventura Technologies, Inc, Reveal Media Ltd., Zepcam B.V., Basler AG, SmartWater Technology Limited, Computer Sciences Corporation, Brite-Strike Tactical Illumination Products Inc., Aeryon Labs Inc., and Taser International Inc.
Growing Research and Development Activities Helps in Expansion of Policing Technologies Market
Policing technologies can be defined as numerous technological and scientific techniques, equipment, and methods utilized in various policing activities. In recent few years, the advancement in technology has changed the way of working of many sectors. Thus, there are several technologies specifically intended for the purpose of policing activities and focused on crime prevention and arrest of criminals.
Policing technologies are widely adopted in various developed nations across the globe owing to many advantages they offer. Some of the key advantages of policing technologies include their ability to help in improving responsiveness, reducing fatalities, and limiting crimes. Less lethal technologies, communication technologies, detection and surveillance technology, and aviation technology are some of the popular products available in the global policing technologies market.
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In recent few years, there is remarkable growth in crimes and terrorist attacks in all worldwide locations. As a result, the police departments in many developed nations are growing use of advanced technologies to perform a range of policing activities. This factor is working as a key driver for the growth of the global policing technologies market.
The global policing technologies market experiences presence of many well-entrenched players. To maintain the leading position in this scenario, major players in the market for policing technologies are strategizing their business moves. Many enterprises in the market are growing investment in research and development activities. The main motive of this strategy include new product development as well as upgrading the existing products.
The recent COVID-19 pandemic has impacted negatively on the growth of almost all industrial sectors including policing technologies market. To restrict the spread of coronavirus disease, the government authorities of many countries from all across the globe have employed stringent regulations related to the national and international travelling. This aside, the government bodies are growing their investments toward the discovery of new vaccines for coronavirus. As a result, the other government sectors might experience shortage of funding intended for incorporation of advanced technologies. On the back of this reason, the global policing technologies market is likely to experience decreased sales in the years to come.
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