Advancements in In-vehicle Technology Create Safer Road Transport Ecosystem
Governments of various developed and developing economies are increasing capabilities for digital spending in public safety. These efforts are seen prominent in creating a safer road transport infrastructure in high growth regions such as Asia Pacific, Middle East & Africa, and South America.
The in-vehicle solution sub-segment of the digital spending in public safety market is estimated to reach a value of ~US$ 68 Bn by the end of 2027. Hence, manufacturers are increasing their efficacy in in-vehicle technology, since the segment is projected for aggressive growth during the forecast period.
Companies in the digital spending in public safety market are increasing the availability of anti collision sensor technology, smart topographs, and other automated systems to make sure that vehicles become much safer. Emergence of autonomous vehicles and flying taxis are some of the key drivers contributing to the growth of the digital spending in public safety market. Moreover, integration of cloud computing and digital-first consumer experience offer growth opportunities for digital technology manufacturers.
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Cloud Computing Powers Digital Spending in Public Safety
Government organizations are on a transformational journey toward the adoption of digital technologies to improve interactions with citizens. Apart from North America and Europe, companies are tapping into opportunities in South America and Middle East & Africa, owing to the region’s high growth potential in the coming years.
Cloud computing, AI, and machine learning are key techniques used by manufacturers in the digital spending in public safety market to help defense organizations maintain transparency in internal processes. The trend of cloud computing is increasingly winning the trust of individuals, as pupils are notified about how their government is taking steps to manage taxes and other funds.
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Defense organizations are aiming at establishing paper-less ecosystems to bolster their credibility credentials. This trend is translating into revenue opportunities for companies in the market for digital spending in public safety. AI and machine learning are helping defense organizations to boost productivity that support public safety and national security.
AI-driven Facial Recognition Software Gain Prominence in Police Service Organizations
High risks in public safety and growing incidences of terrorist attacks on individuals have triggered the need for digital spending in public safety. Adoption of digital technology can help police officers to keep ahead of criminals. However, modernizing police service organizations requires significant amount of time and commitment. The global digital spending in public safety market is largely consolidated with three major players accounting to ~30-50% of the market stake. This poses as a challenge for prominent and emerging players to increase uptake of digital technology in police service stations.
The revenue of in-station solution sub-segment of the digital spending in public safety market is anticipated to reach a value of ~US$ 19 Bn by 2027. However, outdated document organization systems and struggle with information silos pose as a barrier for manufacturers. Hence, companies in the market for digital spending in public safety are encouraging police organizations to adopt AI-driven facial recognition software to identify suspects faster.
Defense Organizations Increase Investments in Connected Technologies Integrated with IoT
Companies in the digital spending in public safety market are eyeing business expansion opportunities in countries of Asia Pacific. This is evident since Finance Minister of Singapore Heng Swee Keat announced investments to support the state’s defense, security, and diplomacy efforts. As such, the defense end user segment of the digital spending in public safety market is expected to reach a value of ~US$ 42 Bn by 2021.
Physical threats to individuals and malicious cyber activities have compelled governments to increase digital spending in public safety. Hence, manufacturers in the digital spending in public safety market are introducing advanced technologies and software systems that create an efficient connected ecosystem for cities. New concept of smart cities and smart nations has catalyzed the adoption IoT to establish connected networks. Digital technologies are increasingly helping defense organizations to improve their efficacy in sophisticated tactics against attackers with ease and greater intensity.