PSA Market: What it got next? Find Out With the Latest Research Report

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Public Safety Analytics (PSA) Market Analysis 

The global PSA market will touch USD 11.75 billion at a 16.22% CAGR by 2023, states the latest Market Research Future (MRFR) report.

Drivers 

Rise in Criminal Activities to Boost Market Growth 

The increasing rates of cross-border terrorism and criminal activities that is promoting the need for security measures to control such activities will boost the market growth in the forecast period. 

Opportunities 

Need for Strict Government Policies to Offer Robust Opportunities 

The need for strict government policies & regulations for public safety analytics will offer robust opportunities for the market over the forecast period. 

Restraints 

Economic Constraints to act as Market Restraint 

Economic constraints coupled with the lack of awareness of public safety services and solutions may act as market restraint over the forecast period. 

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Challenges 

High Installation & Maintenance Cost to act as Market Challenge 

The high costs associated with maintenance and installation of public security and safety system, lack of advanced infrastructure in underdeveloped economies, and lack of inter-operability of systems may act as market challenge over the forecast period. 

Market Segmentation 

The global public safety analytics (PSA) market is bifurcated based on component, analytics, deployment, application, and vertical. 

By component, the social media analytics will lead the market over the forecast period. 

By analytics type, the predictive analytics will dominate the market over the forecast period. 

By deployment type, the on-premise segment will spearhead the market over the forecast period. 

By application, the surveillance segment will have the lions share in the market over the forecast period. 

By vertical, the law enforcement segment will command the market over the forecast period. 

COVID-19 Analysis

Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the public safety analytics growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption.

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Regional Analysis 

North America to Command Public Safety Analytics Market 

North America will order the public safety analytics market over the gauge time frame. The presence of significant safety arrangement suppliers and progressed security innovation in Canada and the US, center around cutting edge security innovation utilizing various gadgets like body cameras, advanced proof administration frameworks, and PCs, the utilization of FirstNet in the US, the expanded reception of public safety analytics stages across organizations for improving their public safety administrations through forestalling, recognizing, and planning for the early side effects of crisis circumstances, developing occurrences of hoodlums entering the nation as well as outstaying and manufacturing into unlawful exercises by means of boundary controls are adding to the worldwide public safety analytics market development in the district.

Key Players 

Eminent industry players profiled in the global public safety analytics market report include Hexagon (Sweden), IBM (US), Cisco (US), NEC (Japan), SAP (Germany), Esri (US), SAS (US), Nice Systems (Israel), Splunk (US), Verint Systems (US), Hitachi Vantara (US), Haystax (US) and among others.

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