The Asia Pacific Safe City Market would witness market growth of 15.1% CAGR during the forecast period (2022-2028).
PSIM is software for integration that enables evaluation, data gathering, confirmation, resolution, and reporting of security concerns by integrating the intelligence gathered from a variety of different systems. This software is known as a PSIM integration platform. The movement of technologies to IP, a growing awareness of benefits like allowing first responders to better exploit existing technology, and dropping pricing as a result of increased competition are key drivers for PSIM.
In the modern era, there are more and more threats to identities, human lives, and freedom coming from terrorists, hackers, overreacting governments, and organized criminals. Violence and crime are major contributors to dread and insecurity in many modern cities. The threat level rises along with city populations and GDP as a result of urbanization, with a growing number of people promoting anonymity and the prevalence and concentration of high-threat targets providing tempting chances for anti-social groups.
Together, emergency services, law enforcement, businesses, and citizens must address the world's expanding need for security. Another significant feature that allow society to work with public agencies to combat criminal activity is a crime as a community concern. For these efforts to succeed, society must come together to combat crime as a whole.
Many large Chinese cities have made significant investments in surveillance networks. Due to the existence of local businesses, the Chinese market offer great growth opportunities. Some suppliers have started working with Chinese companies as a workaround. The majority of cities are just beginning their safe city initiatives. With various projects that have been announced and are projected to be finished in the next few years, India is anticipated to be a desirable market for safer city solutions.
The China market dominated the Asia Pacific Safe City Market by Country in 2021; thereby, achieving a market value of $5.4 billion by 2028. The Japan market is registering a CAGR of 14.4% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 15.8% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Technology, the market is segmented into Video Surveillance & Analytics, Command & Control Systems, Cybersecurity, Public Safety Communications, Emergency Management System (EMS), Location Tracking System, Data Center Infrastructure and Physical Identity & Access Management (PIAM). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Safe City Market is Projected to reach USD 67.1 Billion by 2028, at a CAGR of 14.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Teledyne FLIR LLC (Teledyne Technologies Incorporated), Siemens AG, Honeywell International, Inc., BAE Systems PLC, Identiv, Inc., NEC Corporation, Bosch Energy and Building Solutions (Robert Bosch GmbH), Alcatel-Lucent Enterprise (China Huaxin Post and Telecom Technologies Co., Limited) and Esri, Inc.
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