Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Law Enforcement Software Market size is expected to reach $23.8 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
The Solution segment acquired maximum revenue share in the Global Law Enforcement Software Market by Component in 2021, thereby, achieving a market value of $16.8 billion by 2028. The rising growth of this segment is owing to the rapidly increasing workloads in the law enforcement sector. The software solutions for law enforcement simplify manual operations and workflows. The risks to government organizations, public safety organizations, and law enforcement departments are higher in the modern global commercial climate. Due to the rising occurrence of crimes, law enforcement organizations must be equipped with cutting-edge technology-based solutions. Law enforcement software manufacturers' increased investments in AI, machine learning, analytics, and the Internet of Things (IoT) have aided in the adoption of these law enforcement solutions. A significant number of market players are also leveraging these technologies in order to provide better solutions.
The Cloud segment is showcasing a CAGR of 11.1% during (2022 - 2028). The rising growth of the segment is attributed to the increasing popularity of cloud platforms all over the world. Law enforcement departments are migrating to cloud deployment because cloud deployment lowers overall costs, gives advanced technology flexibility, provides flexible access to solutions, guarantees security compliance, and improves business productivity. Law enforcement software can be delivered as a SaaS-based service, allowing many users to access and control the cloud infrastructure via the internet. It is a standard format that allows service providers to provide public access to internet-based resources such as storage and applications. Depending on the needs of the end-users, cloud services can also be provided for free or on a pay-per-use basis. Moreover, because of the ease of access and quicker deployment, the public cloud is often used by cloud storage providers.
The North America market dominated the Global Law Enforcement Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8.7 billion by 2028. The Europe market is estimated to witness a CAGR of 9% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 10% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Accenture PLC, Motorola Solutions, Inc., NICE Ltd., DXC Technology Company, Esri, Inc., Hexagon AB, Nuance Communications, Inc., Axon Enterprise, Inc., and Palantir Technologies Inc.
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