The Asia Pacific public safety and security market is estimated to grow from $XX billion in 2018 to $XX billion by 2027, with a CAGR of 16.85% between 2019 and 2027. The base year considered is 2018 and the forecast period is 2019-2027. Rising criminal activities, natural disaster and cross-border terrorism are some of the key factors driving the public safety and security market. Also, the need for firm government policies and regulations for public safety is a major factor to influence the market proliferation.
Asia Pacific region is expected to witness considerate growth, owing to high-security concerns and government regulations. India’s economic growth is leading to a greater focus on security initiatives. The growth of the public safety & security market in the Asia Pacific region is attributed to numerous smart city projects undertaken by various governments in the region, especially in India and China. The large population in the region and the increasing urbanization is also largely contributing to the growth of the market.
The economies of China, India, Japan, South Korea, Australia and the remaining countries collectively forming the Rest of APAC regional segment are the major influencer of the market trend in the region.
Alcatel-Lucent Enterprise S.A., Thales Group, Kratos Defense & Security Solutions Inc., General Dynamics Corporation, AGT Group GmbH, Qualcomm Incorporated, Raytheon, Environmental Systems Research Institute, Inc. (ESRI), Cisco Systems, Inc., Siemens AG, Northrop Grumman Corporation, Motorola Solutions, Inc., CGI Group Inc., NEC Corporation, Hitachi, Ltd., International Business Machine (IBM) Corporation, Ericsson, Hewlett Packard Enterprise Company, Huawei Technologies, Honeywell International Inc., Harris Corporation, and Ferranti Technologies Ltd. are some of the major players in public safety & security market.