Increasing demand for AI-based homeland security solutions is expected to drive the growth of the market during the COVID-19 crisis
Post COVID-19, the size of the global homeland security management market under realistic scenario is projected to grow from USD 1,035 billion in 2020 to USD 1,081 billion by 2025, at a CAGR of 0.9% during the forecast period.
The COVID-19 crisis has created a demand for facial recognition solutions that do not require human interference and can replace fingerprint scanners. AI platforms that analyze personal, clinical, travel, and social data, including family history and lifestyle habits from social media sources, will enable more accurate and precise predictions of individual risk profiles and healthcare results. AI has already found its way into homeland security applications. AI-driven perception, processing, and analysis are essential for collecting, sorting, and interpreting data for better-informed human decision-making.
The increase in demand for AI-based homeland security solutions and the upgrading of existing IT systems are anticipated to boost the growth of the market during the forecast period. However, tight security budgets across the globe are limiting the overall growth of the market.
Based on end-use, the cybersecurity segment is anticipated to grow at the highest CAGR during the forecast period within the homeland security management market
Based on end-use, the cybersecurity segment is anticipated to grow at the highest CAGR during the forecast period. Positive growth is expected in the cybersecurity sector due to a 7 to 8 percent increase in cyber threats in the last three months. An increase in the implementation of IT security systems is expected for the next 12 months.
The spread of COVID-19 is posing serious challenges for airlines, airports, and their ecosystems. In the long term, however, the pandemic could help catalyze investments in new technologies and radically reshape the industry.
Based on technology, the AI-based solutions segment is anticipated to grow at the highest CAGR during the forecast period in the homeland security management market Based on technology, the AI-based solutions segment is expected to grow at the highest CAGR during the forecast period. COVID-19 patients need frequent monitoring of their infected lungs using chest X-rays, but quantifying the extent of the infection is a time-consuming step for already overloaded radiologists. There is high demand for AI-based solutions that can detect findings like ground-glass opacities and consolidation abnormalities that are indicative of COVID-19. AI-powered solutions also help detect tuberculosis, chronic obstructive pulmonary diseases, lung malignancies, and medical emergencies like lung collapses and cardiac disorders. They can also localize lesions and quantify the volume of an infection.
Asia Pacific is estimated to lead the homeland security management market in 2020
Higher adoption of unmanned systems such as drones and robots to disinfect affected areas, as well as the increasing usage of robots in the healthcare sector for logistics purposes in hospitals, is anticipated to boost the market for homeland security management solutions in Asia Pacific. Hospitals in China, are now shipping in robots that can disinfect patient rooms from the Danish company UVD Robots. UVD Robots work by emitting ultraviolet light throughout an area in order to kill viruses and bacteria, including the novel coronavirus.
The break-up of profiles of primary participants in the homeland security management market:
By Company Type:
- Tier 1 – 35%,
- Tier 2 – 45%, and
- Tier 3 – 20%
- C-Level Executives – 35%,
- Directors – 25%,
- and Others – 40%
- North America – 45%,
- Europe – 20%, Asia Pacific – 30%,
- Rest of the World – 5%
The report covers the homeland security management market across a number of segments. It aims to estimate the market size and the growth potential of this market across different segments, including technology, end-use, and region. The study also includes an in-depth impact analysis of the key players business models in the market, along with their key strategies for COVID-19 Outbreak, key observations related to product and business offerings to fight against COVID-19, recent developments and company profiles, and key strategies.
Reasons to buy this report
- The report covers three scenarios realistic, pessimistic and optimistic of COVID-19 impact on Homeland Security Management Market. Which would be helpful for market leaders to prepare of action to survive in all three scenarios.
- This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall homeland security management market and its subsegments.
- The report covers the impact of COVID-19 on entire ecosystem of homeland security management. It will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.