A Market Place Research – Page 1391

India Commercial Vehicle Wiring Harness Market Expected to Reach $1,477.8 Million by 2031

According to a recent report published by Allied Market Research, titled, “Commercial Vehicle Wiring Harness Market by Material, Propulsion, Vehicle Type, Voltage, and Application: India Opportunity Analysis and Industry Forecast, 2022–2031,” the India commercial vehicle wiring harness market was valued at $774.4 million in 2021, and is projected to reach $1,477.8 million in 2031, registering a CAGR of 6.8%.

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Greater adoption of the internet of things to stay connected is further expected to offer growth opportunities during the forecast period. For instance, in July 2021, Furukawa Electric developed a 6,912-fiber ultra-thin fiber optic cable, using 16-strand rollable thin ribbons and the S12M16 ribbon welder and related tools. Moreover, rise in infrastructural developments in the country is expected to bolster the growth of the market during the forecast period. For instance, in December 2021, the Ministry of Road Transport and Highways of India (MoRTH) announced an investment worth $92.4 billion for infrastructure projects to be spent over the next 2-3 years.

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India commercial vehicle wiring harness market is expected to witness a significant growth during the forecast period, owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, and efficient commercial vehicle wiring harness solutions. India commercial vehicle wiring harness market is expected to grow at a significant rate during the forecast period, owing to rise in demand for feature-packed vehicles in India.

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The key players profiled in this India Commercial Vehicle Wiring Harness market report include Aptiv PLC, Cypress Industries, Dhoot Transmission Pvt. Ltd., Fujikura Ltd., Furukawa Electric Co. Ltd., Lear Corporation, Robert Bosch GmbH, Samvardhana Motherson Group, Spark Minda, and Yazaki Corporation.

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Key Findings Of The Study

By material, the aluminium segment is expected to register a significant growth during the forecast period.
On the basis of propulsion, the electric vehicles segment is anticipated to exhibit significant growth in future.
On the basis of vehicle type, the construction equipment segment is anticipated to exhibit significant growth in future.
According to voltage, the high voltage segment is projected to lead the India Commercial Vehicle Wiring Harness market.
By application, the dashboard and cabin segment is projected to lead the India Commercial Vehicle Wiring Harness market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “”Market Research Reports”” and “”Business Intelligence Solutions.”” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Engine Oil Market to Garner $55.1 Billion, Globally, by 2030 at 3.1% CAGR

Allied Market Research recently published a report, titled, “Engine Oil Market by Grade (Mineral, Semi-synthetic, Fully-synthetic), by Sales Channel (OEM, Aftermarket), by Engine Type (Gasoline, Diesel), by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two Wheelers): Global Opportunity Analysis and Industry Forecast, 2021-2031”. As per the report, the global engine oil industry was pegged at $40.5 billion in 2021, and is expected to reach $55.1 billion by 2030, growing at a CAGR of 3.1% from 2021 to 2030.

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Rise in sales of automobiles in developing countries, increase in demand for high mileage vehicles, and growing need for lower viscosity motor oil supplement have boosted the growth of the global engine oil market. However, fluctuating raw material prices and increase in sales of electric vehicles hinder the market growth. On the contrary, demand for synthetic engine oil and trend of new rivals in the engine oil industry would open new opportunities in the future.

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By sales channel, the aftermarket segment held the largest share in 2021, contributing to nearlythree-fourths of the global engine oil market, owing to replacement of the damaged part in the vehicle or the addition of new components in the existing vehicles. However, the OEM segment is projected to manifest the highest CAGR of 3.55% during the forecast period, due to increased adoption of company manufactured services to be used in vehicles. Moreover, advancement in technology has enabled the customers to choose the company developed service in the vehicles, which has eventually led to the growth of the global market.

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Major market players

Adolf Würth GmbH & Co. KG
AMSOIL INC.
Ashland
BP p.l.c
Castrol Limited
Chevron Corporation
Exxon Mobil Corporation
Gazpromneft – Lubricants, Ltd.
GS Caltex India
Jiangsu Lopal Tech.Co., Ltd.
Lukoil
RN-Lubricants LLC
Saudi Arabian Oil Co.
Shell
TotalEnergies
Valvoline
Vip Oil Products Ltd.

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By region, the global engine oil market across Asia-Pacific held the largest share in 2021, accounting for around half of the market, due to presence of a large consumer base and increasing production & consumption of the product in countries like China. Product formulators such as TotalEnergies are increasingly investing in the Asia-Pacific region to tap the growing potential. Furthermore, considerable awareness among the people in this region is expected the market up during the forecast period. However, the market across LAMEA is expected to register the highest CAGR of 4.63% during the forecast period, owing to significant demand for cars and stringent environment regulations & emission norms are expected to witness a surge in the engine oil market in this region.

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Automatic Identification and Data Capture Market | Presents Strong Revenue Visibility in Near Future Booming At a CAGR of 13.2% During 2021-2030

According to the report published by Allied Market Research, the global automatic identification and data capture market generated $37.1 billion in 2020 and is projected to reach $121.07 billion by 2030, witnessing a CAGR of 12.5% from 2021 to 2030.

The rise in the adoption of AIDC solutions drives the growth of the global automatic identification and data capture market. However, high costs associated with the installation of automatic identification and data capture system paired with the rise in concerns about malware attacks and security breaches restrain the market to some extent. On the other hand, the surge in government regulations for the adoption of AIDC solutions forecasts presents new opportunities in the upcoming years.

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The report offers detailed segmentation of the global automatic identification and data capture market based on offering, product, technology, industry vertical, and region.

Based on offering, the hardware segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 15.2% from 2021 to 2030.

Based on technology, the radio frequency identification segment held the largest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the smart cards segment is projected to register the highest CAGR of 16.2% from 2021 to 2030.

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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding one-third of the global automatic identification and data capture market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 14.10% during the forecast period.

Leading players of the global automatic identification and data capture market analyzed in the research include Cognex Corporation, Datalogic S.p.A., Honeywell, NXP Semiconductors N.V., Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba, and Zebra Technologies.

COVID-19 scenario:

The outbreak of the COVID-19 pandemic has had a mixed impact on the global automatic identification and data capture market.
Initially, the pandemic gave way to several obstacles, including the availability of resources and skilled workforce, which affected the growth of the market.
However, rise in demand for e-commerce paired with the surge in demand for digital infrastructure across the government and retail sector fueled the market growth.

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Document Capture Software Market

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Next Generation Computing Market is Expected to Observe Considerable Growth Opportunities to 2030

According to a new report published by Allied Market Research, the next-generation computing market was valued at $132.53 billion in 2020 and is estimated to reach $782.10 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.

Next-generation computing market trends in Asia-Pacific are expected to exhibit the highest growth during the forecast period, owing to strong economic growth along with the ongoing development in next-generation computing and real-time data analysis, which drives organizations to invest heavily in the next-generation computing market to sustain growth and improve productivity.

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In addition, factors such as a major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in workforce management strategy in emerging economies notably contribute toward market growth.

Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

On the basis of next-generation computing market analysis Increase in demand for enhanced computing performance for data analysis and the rise in usage of simulation & modeling in healthcare, BFSI, and the energy sector drives the market growth. In addition, the rise in the need for secure computing platforms, the influx of huge amounts of data, and the increase in the adoption of quantum computing technologies by numerous industrial sectors are also expected to drive market growth.

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On the basis of components, the hardware segment dominated the overall next-generation computing industry in 2020 and is expected to continue this next-generation computing market trend during the forecast period. This is attributed to increasing in the adoption of next-generation computing solutions among enterprises to gain strategic as well as a competitive advantage and strong customer retention over their competitors.

In addition, these solutions save both time as well as money, leverage existing data investments, and improve image analysis capabilities, with just a single software application. Moreover, next-generation computing service providers are upgrading their software solutions to expand the range of next-generation computing applications to reach more customers, which provides lucrative opportunities for market growth.

This report gives an in-depth profile of some key market players in the Next Generation Computing industry IBM Corporation, Amazon Web Services Inc., Alibaba Group Holding Limited, Cisco Systems, Google Inc., HPE, Intel Corporation, Oracle Corporation, Atos SE and Intel Corporation. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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Next-generation computing technologies covered in this report include:

High-Performance Computing
Quantum Computing
Neuromorphic Computing
Serverless Computing
Biocomputing
Nanocomputing
Brain-Computer Interface

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Automated Guided Vehicle Market: Assembly Line Vehicles to Grow at 19.5% CAGR During 2020 to 2027

As per the report published by Allied Market Research, the global automated guided vehicle market was pegged at $5.21 billion in 2019, and is expected to hit $13.52 billion by 2027, growing at a CAGR of 16.6% from 2020 to 2027.

Increase in demand for automation and automated guided vehicles (AGVs) and reduction in labor costs in various organizations, and surge in accuracy, safety, and productivity have boosted the growth of the global automated guided vehicle market. However, high cost of initial investments and dearth of flexibility of automated guided vehicles hinder the market growth. On the contrary, integration of the Industry 4.0 is expected to open lucrative opportunities for the market players in the future.

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Covid-19 Scenario:

The Covid-19 pandemic resulted in lack of workforce. Moreover, several governments imposed lockdown across the country which led to disruptions in the manufacturing operations and supply chain. This negatively affected the demand for AGVs.
However, the emergence of contactless and effective logistic infrastructure is expected to favor the sale of AGVs.

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The global automated guided vehicle market is segmented on the basis of type, navigation technology, application, industry, mode of operation, and region. Based on type, the assembly line vehicles segment is anticipated to register the highest CAGR of 19.5% during the forecast period. However, the two wheels segment held the largest share in 2019, contributing to around one-fourth of the market.

On the basis of navigation technology, the inductive guidance segment is anticipated to showcase the highest CAGR of 19.2% during the forecast period. However, the laser guidance segment dominated the market in 2019, accounting for around one-third of the market.

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The global automated guided vehicle market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA is projected to manifest the highest CAGR of 26.1% during the forecast period. However, the market across Asia-Pacific held the lion’s share in 2019, contributing to more than two-thirds of the market.

The global automated guided vehicle market report includes an in-depth analysis of the major market players such as JBT, KUKA AG, Oceaneering International, Inc., Seegrid Corporation, SSI Schaefer, Toyota Material Handling, BALYO, Daifuku Co., Ltd., E&K Automation GmbH, and inVia Robotics, Inc.

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Similar Reports We Have on Automotive Industry:

India Automated Guided Vehicle Market by Type (Tow Vehicles, Unit Load Carriers, Pallet Trucks, Assembly Line Vehicles, and Forklift Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Inductive Guidance, Optical Tape Guidance, Vision Guidance, and Others), Application (Transportation, Distribution, Storage, Assembly, Packaging, and Waste Handling), Industry (Automotive, Manufacturing, Food & Beverages, Aerospace, Healthcare, Logistics, Retail, and Others) and Mode of Operation (Indoor and Outdoor): Opportunity Analysis and Industry Forecast, 2020–2027.

Anti-Tank Guided Missile System Market by Mounting (Shoulder, Tripod and Vehicle), Operation (Manned and Unmanned), and Platform (Land, and Airborne): Global Opportunity Analysis and Industry Forecast, 2020–2027.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Low Speed Electric Vehicle Market Growth Focusing on Trends & Innovations During the Period Until 2025

According to a recent report published by Allied Market Research, titled,”Low Speed Electric Vehicle Market by Vehicle Type and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”the global low speed electric vehicle market was valued at $2,395.8 million in 2017, and is projected to reach $7,617.3 million by 2025, registering a CAGR of 15.4% from 2018 to 2025.

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At present, North America dominates the market, followed by Europe, Asia Pacific, and LAMEA. U.S. dominated the global low speed electric vehicle market in 2017, whereas Canada is expected to grow at a significant rate in North America during the forecast period.

The market is primarily driven by stringent government rules and regulations toward vehicle emission and increase in fuel costs. In addition, rise in pollution, technological advancements, surge in automobile industry, and decrease in fossil fuel reserves have fueled the growth in the development and production of low speed electric vehicle. High vehicle cost and lack of proper charging infrastructure are some of the major restraining factors of this market. Furthermore, proactive government initiatives and technological advancements in electric vehicles ensure lucrative growth opportunities for this market globally. This can be attributed to rise in the sale of automated vehicles globally. These features offer lucrative opportunities for the low speed electric vehicle demand globally.

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Key Findings of the Low Speed Electric Vehicle Market:

Based on vehicle type, the off road segment generated the highest revenue in 2017.
Based on end user, the golf courses segment was the highest revenue contributor in 2017.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period.
Based on region, North America contributed the highest market revenue in 2017, followed by Europe, Asia Pacific, and LAMEA.

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Key players operating in the global low speed electric vehicle market are HDK Electric Vehicles, Bradshaw Electric Vehicles, Textron Inc., Polaris Industries, Yamaha Motors Co. Ltd., Ingersoll Rand, Inc., Speedway Electric, AGT Electric Cars, Bintelli Electric Vehicles and Ligier Group

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Online Banking Market Size to Grow $31.81 Billion by 2027, at 13.6% CAGR

According to the report published by Allied Market Research, the global online banking market was pegged at $11.43 billion in 2019 and is expected to hit $31.81 billion by 2027, registering a CAGR of 13.6% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

With changing consumer demands, lifestyle, and expectations toward banking, the banks are largely switching toward internet or digitalized banking by implementing technologies. This factor has driven the global online banking market. At the same time, security & technical issues, privacy concerns, and transaction difficulties impede the growth to some extent. However, countries, such as China, India, Japan, and Australia, have high demand for massive internet usage to avail banking services online. This, in turn, has created a number of opportunities in the industry.

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Covid-19 scenario-

The outbreak of the pandemic has increased the demand for online banking services, as shutdown of physical branches has led to shift of consumers toward online platforms.
Also, the growing drift of social distancing has reinforced the incorporation of electronic payment system among consumers.

The global online banking market is analyzed across service type, banking type, and region. Based on service type, the payments segment contributed to nearly one-third of the total market revenue in 2019 and is expected to rule the roost by the end of 2027. The wealth management segment, on the other hand, would grow at the fastest CAGR of 15.7% throughout the forecast period.

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Based on banking type, the retail banking segment accounted for nearly half of the total market share in 2019 and is projected to retain its dominance till 2027. Simultaneously, the investment banking segment would showcase the fastest CAGR of 15.7% from 2020 to 2027.

Based on region, North America garnered the major share in 2019, holding nearly one-third of the global market. At the same time, Asia-Pacific would register the fastest CAGR of 15.2% till 2027. The other two provinces studied in the report include Europe and LAMEA.

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The key market players analyzed in the global online banking market report include Inc., Capital Banking Solution, CGI Inc., Temenos Headquarters SA., Tata Consultancy Services Limited, ACI Worldwide, COR Financial Solutions Limited, EdgeVerve Systems Limited, Microsoft, Oracle, and Fiserv, Inc. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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U.S. mhealth Device Market to Reach $53.25 Billion By 2028: Allied Market Research

According to the report published by Allied Market Research, the U.S. mhealth device market generated $12.11 billion in 2019, and is estimated to reach $53.25 billion by 2028, witnessing a CAGR of 19.6% from 2021 to 2028. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, competitive landscape, and regional scenarios.

Changes in lifestyle, rise in use of smartphone, and new product developments drive the growth of the U.S. mhealth device market. However, concerns regarding regulatory compliance hinder the market growth. On the other hand, increase in awareness toward remaining fit and active create new opportunities in the coming years.

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Covid-19 Scenario:

The demand for mhealth devices has been increased significantly during the Covid-19 pandemic to monitor health conditions remotely for ensuring safety and avoiding cross-contamination during visits to clinics or hospitals.
However, production facilities faced challenges such as shortage of workers, procurement of raw materials, and disruptions in supply chain due to lockdown. The production is expected to resume with full capacity during the post-lockdown.

The report offers detailed segmentation of the U.S. mhealth device market based on device type and application.

Based on device type, the IoT devices segment accounted for the highest market share in 2019, contributing to more than one-third of the total share in 2019, and is projected to maintain its leadership status by 2028. However, the mobile computers segment is estimated to portray the largest CAGR of 24.4% from 2021 to 2028.

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Based on application, the diagnosis & treatment segment held the largest market share, accounting for nearly half of the U.S. mhealth device market in 2019, and is expected to maintain its lead position during the forecast period. However, the real-time tracking segment is projected to manifest the fastest CAGR of 20.7% from 2021 to 2028.

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Leading players of the global the U.S. mhealth device market analyzed in the research include Ascom Holding AG, Honeywell International Inc., Kaiser Permanente, Zebra Technologies Corp, General Electric Company, Cybernet Manufacturing, Inc., Vivify Health, Inc., NETSCOUT Systems, Inc., Medtronic Plc, Masimo, Agamatrix Inc., Boston Scientific Corporation, Omron Corporation, Athenahealth Inc., Koninklijke Philips NV, and HCHB.

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Petroleum Resins Market – Asia-Pacific is likely to grow at a Rapid Speed in the Near Future

The global petroleum resins market was estimated at $2.8 billion in 2021 and is expected to hit $4.8 billion by 2031, registering a CAGR of 5.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$2.8 Billion
Market Size in 2031	$4.8 Billion
CAGR	5.9%
No. of Pages in Report	300
Segments Covered	Resin, Application, End Use Industry, and Region.
Drivers	Rapid urbanization and surge in government infrastructural plans across the world
Restraints	Volatile prices of crude oil
Opportunities	Technological advancements to bring forth new process technologies

Covid-19 scenario-

Decreased demand for C9 and C5 petroleum resins from industries such as paints & coatings and automobile impacted the global petroleum resins market negatively, especially during the initial period.
However, as the majority of sectors restored their operations gradually, the market for petroleum resins also got back on track.

The global petroleum resins market is analyzed across resin, application, end use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on resin, the C5 resins segment contributed to more than half of the global petroleum resins market revenue in 2021, and is expected to dominate by 2031. The hydrogenated hydrocarbon resins segment, on the other hand, would showcase the fastest CAGR of 7.1% throughout the forecast period.

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Based on application, the adhesives and sealants segment accounted for more than one-third of the total market revenue in 2021, and is expected to dominate by 2031. The paints & coatings segment, simultaneously, would cite the fastest CAGR of 6.7% throughout the forecast period.

Based on end use industry, the building & construction segment held nearly one-third of the total market revenue in 2021, and is expected to dominate by 2031. The personal hygiene segment, however, would cite the fastest CAGR of 7.5s% throughout the forecast period.

Based on region, the market across Asia-Pacific generated more than half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 6.5% during the forecast period. The other regions studied in the report include North America, LAMEA, and Europe.

The key market players analyzed in the global petroleum resins market report include Eastman Chemical Company, Exxon Mobil Corporation, Innova (Tianjin) Chemical Co., Limited, Kolon Industries, Inc., Lesco Chemical Limited, Neville Chemical Company, Puyang Tiancheng Chemical Co., Ltd., Henan Anglxxon Chemical Co. Ltd., RuiSen ReSin Co. Ltd., Arakawa Chemical Industries, Ltd., Shanghai Jinsen Hydrocarbon Resins Co., Ltd., Seacon Corporation, Shandong Landun Petroleum Resin Co., Ltd., TotalEnergies, Zeon Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.

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Public Safety LTE Market Expected to Reach USD 70.44 Billion by 2028 :AMR

Surge in instances of terrorist activities & security breaches and increase in government regulations and policies about public safety have boosted the growth of the global public safety and security market. However, lack of interoperability of systems and high installation cost hinder the market growth. On the contrary, advent of big data analytics in public safety and security would open new opportunities in the future.

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By enterprise size, the large enterprises segment held the largest share in 2021, contributing to more than two-thirds of the global public safety and security market, and is anticipated to maintain its leading position during the forecast period. This is due to rise in adoption of AI-based solutions among the government and large organizations across the globe to prevent and predict crimes as well as to increase the security of organizations. However, the SMEs segment is estimated to register the highest CAGR of 8.6% during the forecast period, owing to increase in trend in developing nations to install IoT-enabled smart security systems to capture, store, and analyze continuous video streams.

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By offering, the service segment is estimated to register the highest CAGR of 8.3% during the forecast period. Public safety and security services provides professional services such as implementation, training & support, and consulting services. However, the solution segment dominated the market in terms of revenue, contributing to nearly two-thirds of the global public safety and security market in 2021, and is expected to continue its dominance throughout the forecast period. This is due to rise in demand of AI technology and IoT device among various governments across the globe to protect countries and citizens from various terrorist attack.

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By region, the global public safety and security market across North America held the largest share in 2021, accounting for around two-fifths of the market, and is projected to continue its dominance from 2022 to 2031, due to growing need to protect critical infrastructure and sensitive data government. However, the market across the Asia-Pacific region is projected to portray the highest CAGR of 9.0% during the forecast period, due to increasing economic advancement and various government initiatives.

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Covid-19 Scenario:

During the pandemic, the demand for public safety and security solution and services increased owing to rise in investment in public safety solution to curb the spread of the virus.
The crime rates and terrorist activities increased during the pandemic, which positively affected to the market.

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IoT for Public Safety Market

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