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Intravascular Ultrasound [IVUS] Devices Market to Grow at a 5.9% CAGR from 2023 to 2031, reaching USD 1240 million: TMR Report

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Wilmington, Delaware, United States, June 09, 2023 (GLOBE NEWSWIRE) — The global intravascular ultrasound [IVUS] devices market is anticipated to grow at a 5.9% CAGR from 2023 to 2031. A market valuation of US$ 1,240 million is expected by end of the forecast period.

The increasing prevalence of cardiovascular diseases (CVDs) has led to a significant surge in the need for reliable diagnostic cardiovascular imaging methods. As a result, there has been a notable increase in the adoption of intravascular ultrasound (IVUS) devices, which have proven to be highly impactful.

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According to the World Health Organization (WHO), CVDs are the primary cause of global mortality, resulting in approximately 17.9 million deaths annually. Additionally, the growing demand for less invasive surgical techniques and the introduction of new products are expected to further drive the expansion of the industry.

Philips enhanced its ultrasound portfolio in December 2021 by introducing advanced imaging capabilities and features specifically designed for cardiology. This significant expansion is anticipated to enhance diagnostic accuracy and streamline workflow efficiency, ultimately boosting confidence in the diagnostic process.

The increasing research and development efforts and the growing prevalence of chronic diseases are expected to drive market growth. Key market players are focusing on integrating new ultrasound equipment and advanced digital technologies, aiming to enhance the market with high-resolution imaging capabilities. This advancement in picture output quality is crucial for accurate diagnosis in the early stages of various life-threatening disorders, particularly cardiovascular problems. It represents a significant stride forward in the early detection of such illnesses.

Key Takeaways from the Market Report

  • The global intravascular ultrasound [IVUS] devices market is expected to be worth US$ 780.44 million as of 2023.
  • From 2023 to 2031, the market is expected to grow with a CAGR of 5.9%.
  • By product, the IVUS catheters segment is expected to grow with a CAGR of 6.6% during the forecast period.
  • By application, the coronary diagnosis segment is expected to lead the market while exhibiting a CAGR of 6.4% during the forecast period.
  • As per TMR projections, the demand for intravascular ultrasound [IVUS] devices in China is expected to grow at a CAGR of 6.1% during the forecast period.

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Intravascular Ultrasound [IVUS] Devices Market: Growth Drivers & Trends

  • The rising need for advanced and precise medical imaging is driving the rapid advancement of integrated Artificial Intelligence (AI) technology in ultrasound devices. This development is driven by the growing demand for more accurate diagnostic capabilities in healthcare.
  • The increasing research and development (R&D) activities and the growing prevalence of chronic diseases are fueling the market growth.
  • The demand for intravascular ultrasound devices is anticipated to rise with the increasing demand for accurate diagnostic tools and medical imaging techniques for cardiovascular conditions such as myocardial infarction.

Intravascular Ultrasound [IVUS] Devices Market: Regional Analysis

  • North America is expected to dominate the market by accumulating over 46.4% market share in 2023. The regional demand for intravascular ultrasound devices is expected to rise with a CAGR of 6.2% during the forecast period. The growth can be attributed to various factors, including the wider use of ultrasound technology in primary care, improved accessibility to healthcare services, and significant healthcare spending in countries with favorable reimbursement policies. Technological advancements and the increasing prevalence of chronic diseases are also expected to contribute to the regional market’s growth.
  • Asia Pacific is projected to register a significant CAGR of 6% during the forecast period. Factors such as favorable government initiatives aimed at enhancing healthcare infrastructure are fueling regional market. The economic development in countries like India and China is expected to drive the market forward. The presence of a large population with low per capita income levels has created a demand for affordable treatment options, further fueling the growth of the regional market.

Intravascular Ultrasound [IVUS] Devices Market: Prominent Players

The global market for intravascular ultrasound [IVUS] devices is characterized by several regional and global entities. Some key intravascular ultrasound [IVUS] devices providers profiled by TMR include:

  • Axle International
  • Boston Scientific Corporation
  • Infraredx, Inc.
  • Koninklijke Philips N.V.
  • Terumo Corporation
  • Siemens Healthineers AG
  • Conavi Medical Inc.
  • ACIST Medical Systems

Prominent developments in the intravascular ultrasound [IVUS] devices market domain by key players are as follows:

  • Siemens Healthineers launched Luminos Impulse in September 2021, an innovative fluoroscopy system that combines cutting-edge design and features from high-end systems. It offers a seamless imaging chain, comprehensive dose optimization, robust cybersecurity measures, and the ability to share detectors for radiography applications.
  • Siemens Healthineers launched Somatom X.ceed in May 2021, a state-of-the-art CT (computed tomography) scanner designed for highly demanding clinical areas that prioritize speed and accuracy.
  • In January 2021, Avinger, Inc. announced the full commercial launch of Tigereye, its image-guided system for crossing chronic total occlusions (CTOs). This milestone enables customers in the United States and Germany to place orders for the Tigereye device. Avinger had previously conducted a limited launch at 12 clinical centers in both countries during the fourth quarter of 2020.

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Intravascular Ultrasound [IVUS] Devices Market- Key Segments

Product
  • IVUS Consoles
    • Integrated System
    • Cart System
  • IVUS Catheters
    • IVUS Transducers
    • IVUS Accessories
Application
  • Coronary Diagnosis
  • Coronary Intervention
  • Coronary Research
  • Non-coronary /Peripheral Applications
End User
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Laboratories
  • Research Institutes
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
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Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
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Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

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Vantiva Powers New Vodafone Fiber Router and Wi-Fi 6 Mesh Extender to Enhance In-Home Broadband Experience

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CPE leverages Vantiva’s Wi-Fi antenna expertise to connect more than 100 smart devices at ultra-high speeds
PARIS, May 20, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling Network Service Providers (NSPs) to connect consumers around the world, today announced that it has strengthened its longstanding partnership with Vodafone UK, the largest full fiber provider in the UK, with the introduction of the Wi-Fi 6 enabled Power Hub router and Super Wi-Fi 6 Booster. The customer premises equipment (CPE) leverages Vantiva’s Wi-Fi antenna expertise to offer intelligent Wi-Fi auto-optimization that automatically provides the fastest connectivity across all devices. The router and booster are designed to cost-effectively deliver a superior whole-home Wi-Fi experience to end-users with the ability to seamlessly connect more than 100 smart devices at speeds up to 910 Mbps.

“The introduction of the Power Hub router and Super Wi-Fi 6 Booster are the latest examples Vodafone UK’s continued leadership in bringing advanced connectivity solutions to its customers,” said Mercedes Pastor, Senior Vice-President of the Customer Unit, Eurasia. “This is a step forward in our long-time partnership delivering cutting edge solutions in this market. The outstanding Wi-Fi performance leverages all of Vantiva’s expertise from antenna design to unique testing environments to offer the best in-home wireless experience.”
Vodafone UK’s new Power Hub router is built for fiber-to-the-home network configuration and is easily adaptable for current and future in-home connectivity demands. The Super Wi-Fi 6 Booster works seamlessly with the Power Hub to give reliable coverage throughout the home and is compatible with both existing and previous versions of Vodafone gateways. The extender’s mesh Wi-Fi capability adapts the connectivity to give customers comprehensive Wi-Fi coverage.
As part of Vantiva’s commitment to developing eco-friendly products with low-carbon intensity, the device housing for these products was made from 95% recycled plastic. The packaging was designed using 85% recycled paper, printed with soy ink and uses no plastics.
Vantiva and Vodafone UK have been collaboratively bringing innovative solutions to market in multiple product platforms since 2018 and in fiber since 2022, when the two organizations introduced the first Wi-Fi 6E gateway in the UK, bringing high speed connectivity to homes across the country. 
The Vodafone Power Hub Wi-Fi 6 router and Super Wi-Fi 6 Booster are the latest strategic milestones in Vantiva’s ongoing commitment to providing open and innovative technologies for NSPs and Pay TV operators. Vantiva’s goal is to bring seamless connectivity and premium entertainment experiences to consumers by creating best-in-class CPE and partnering with the most innovative companies in the connected home ecosystem.
Contact: Vantiva Press RelationsThatcher+Co. for [email protected]
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Life Science Equipment Market to be Worth $97.96 Billion by 2031 – Exclusive Report by Meticulous Research®

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life-science-equipment-market-to-be-worth-$97.96-billion-by-2031-–-exclusive-report-by-meticulous-research

REDDING, Calif., May 20, 2024 /PRNewswire/ — According to a new market research report titled, ‘Life Science Equipment Market Size, Share, Forecast, & Trends Analysis By Technology (Spectroscopy, Microscopy, Chromatography (HPLC, GC, TLC), PCR, Immunoassay, Sequencing, Flow Cytometry, Microarray, Centrifuge) End User – Global Forecast to 2031,’ published by Meticulous Research®, the life science equipment market is projected to reach $97.96 billion by 2031, at a CAGR of 6.3% from 2024 to 2031.

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Life sciences encompass a wide range of fields, including biology, biochemistry, genetics, pharmacology, and many more. Laboratory equipment plays a critical role in conducting experiments, collecting data, and analyzing samples to further scientific research and advance our understanding of living organisms and their underlying mechanisms. Equipment is also necessary for quality checks and validation of manufactured drugs and biologics in the life sciences industry. The growth of the life sciences industry is driving the adoption of life sciences and laboratory equipment.
The growth of this market is attributed to several factors, including increasing pharmaceutical and biotech R&D expenditures, government initiatives supporting life sciences R&D, the increasing prevalence of chronic and infectious diseases, and growth in initiatives to control environmental pollution. Additionally, the growth in genomics and proteomics, the increasing awareness and growing adoption of personalized medicines, increasing automation and digitalization in the life sciences industry, and the increasing focus on food safety and quality are expected to provide significant opportunities for players operating in the market.
The report offers a competitive landscape based on an extensive assessment of the leading players’ product portfolios and geographic presence and the key growth strategies adopted by them in the last three to four years. In recent years, the life science equipment market witnessed several product launches, product enhancements, product approvals, partnerships, agreements, & collaborations, acquisitions, and expansions.
The key players operating in the life science equipment market are Agilent Technologies, Inc. (U.S.), Becton, Dickinson, and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), F. Hoffmann LA-Roche AG (Switzerland), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Waters Corporation (U.S.), Bruker Corporation (U.S.), Shimadzu Corporation (Japan), Siemens Healthineers AG (Germany), Eppendorf SE (Germany), Sartorius AG (Germany), and QIAGEN N.V. (Netherlands).
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Growing Awareness and Adoption of Personalized Medicine to Offer Opportunities for Players Operating in the Life Science Equipment Market
Personalized medicine, also known as precision medicine, is an emerging approach to patient care. Physicians choose a treatment method based on the patient’s genetic makeup (also considering genetic changes resulting from a disease) and lifestyle habits. It is an emerging disease treatment and prevention approach that considers individual variability in genes, environment, and lifestyle.
Precision medicine can remove the need for guesswork, variable diagnostic ability, and treatment strategies based on generalized demographics. Moreover, precision medicine enables a more holistic view of an individual patient. Precision medicine for clinical workflows helps facilitate more predictive and preventive care by bringing targeted therapies. There has been an increase in the adoption of personalized medicine in recent years. For instance, according to the Personalized Medicine Coalition, the share of personalized medicine has increased steadily in the total drugs approved in the U.S. by the FDA, from 28% in 2015 to 35% in 2021. The increasing awareness and adoption of personalized medicine are driving the demand for specialized laboratory equipment and technologies that enable precise and accurate genetic and molecular analysis.
Personalized medicine heavily relies on genetic testing, sequencing, analysis of genetic, genomic, and proteomic information, and biomarker identification and validation. This necessitates the use of advanced laboratory equipment, such as DNA sequencers, gene sequencers, PCR machines, real-time PCR systems, next-generation sequencers, mass spectrometers, immunoassay analyzers, and chromatography systems, to accurately derive the necessary results.
The life science equipment market is segmented by Technology [Spectroscopy, Microscopy, Chromatography, Lab Automation, Immunoassay Analyzers, PCR, Sequencing, Flow Cytometry, Incubators, Microarray, Centrifuges, Electrophoresis, and Other Equipment], End User [Pharmaceutical and Biotechnology Industry, Academic & Research Institutes, Hospitals and Diagnostic Laboratories, Analytical Testing Laboratories, Agriculture and Food Industry, Forensic Laboratories, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets. (Note: Apart from primary segmentation, Spectroscopy, Microscopy, Chromatography, Lab Automation, Immunoassay Analyzer, PCR, Sequencing, Flow Cytometry, Microarray, Centrifuges, and Electrophoresis have further level segmentation).
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Among the technologies included in the report, in 2024, the spectroscopy segment is expected to account for the largest share of 22% of the life science equipment market. The spectroscopy segment is further sub-segmented into molecular spectroscopy, atomic spectroscopy, mass spectrometry, and software. In 2024, the molecular spectroscopy segment is expected to account for the largest share of the spectroscopy market. Molecular spectroscopy is used to determine the composition of a material in an unknown chemical composition. It is used in various applications across food & beverage, environmental screening, pharmaceutical, and biotech industries. Therefore, the wide range of applications of molecular spectroscopy coupled with the growth of the life sciences industry, especially the pharmaceutical and biotech sectors, contribute to the large market share of this segment.
Among the end users included in the report, in 2024, the pharmaceutical and biotechnology industry segment is expected to account for the largest share of 32% of the life science equipment market. The largest share is contributed by several factors, including the increased demand for new drugs and therapies leading to extensive research and development activities, the need for technologically advanced equipment in the pharmaceutical and biotech industries, the rise in funding and investments in the pharmaceutical and biotech industry, and increased healthcare expenditure.
Among the geographies included in the report, in 2024, North America is expected to account for the largest share of 41% of the life science equipment market. North America’s major market share is attributed to the presence of key players, its well-established life science industry, and substantial spending on R&D activities by pharmaceutical and biotech companies. The U.S. is home to global top-ranking pharmaceutical companies. Companies like Johnson & Johnson, Pfizer, AbbVie Inc., Merck, and Bristol Myers Squibb are headquartered in the U.S. These companies have high R&D expenditure at increasing at a high rate each year. For example, Johnson & Johnson spent USD 14.7 billion on research and development in 2021, with a 21% increase over 2020.
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Scope of the Report:
Life Science Equipment Market Assessment—by Technology
SpectroscopyMolecular SpectroscopyUV/Vis SpectroscopyNuclear Magnetic Resonance (NMR)Near-Infrared (NIR) SpectroscopyInfrared (IR) SpectroscopyRaman SpectroscopyPolarimeters and RefractometersFluorescence & Luminescence SpectroscopyOther Molecular Spectroscopy TechnologiesNote: Other molecular spectroscopy technologies segment includes Raman spectroscopy, ellipsometry, and color measurement
Mass SpectrometryQuadrupole LC/MSTime of Flight LC/MS (Q-TOF & LC-TOF)Gas Chromatography-Mass Spectrometry (GC/MS)Fourier Transform Mass Spectrometry (FT/MS)Matrix-Assisted Laser Desorption/Ionization-Time of Flight Mass Spectroscopy (MALDI-TOF MS)Portable and In-Field Mass SpectroscopyTandem Mass Spectroscopy (MS/MS)Ion Trap Mass Spectroscopy (LC/MS)Atomic SpectroscopyAtomic Absorbance Spectroscopy (AAS)X-Ray Fluorescence (XRF) SpectroscopyX-Ray Diffraction (XRD) SpectroscopyOther Atomic Spectroscopy TechnologiesNote: Other atomic spectroscopy technologies segment includes inductively coupled plasma (ICP) spectroscopy, glow discharge spectroscopy, and arc/spark optical emission spectroscopy
Spectroscopy SoftwareMicroscopyElectron MicroscopyOptical MicroscopyScanning Probe MicroscopyOther MicroscopyMicroscopy SoftwareChromatographyHigh-Performance Liquid Chromatography (HPLC)Gas Chromatography (GC)Low Pressure Liquid Chromatography (LPLC)Flash ChromatographyThin Layer Chromatography (TLC)Ion ChromatographySupercritical Fluid Chromatography (SFC)Chromatography SoftwareLab AutomationAutomated WorkstationsRobotic SystemsAutomated Storage and Retrieval Systems (ASRS)Lab Automation SoftwareImmunoassay AnalyzersChemiluminescence ImmunoassayFluorescence ImmunoassayRadioimmunoassay (RIA)Colorimetric ImmunoassayOther Immunoassay AnalyzersImmunoassay SoftwarePCRRT-PCRConventional PCRDigital PCRPCR SoftwareSequencingFlow CytometryCell-Based Flow CytometersBead-Based Flow CytometersFlow Cytometry SoftwareIncubatorsMicroarrayDNA MicroarraysProtein MicroarrayTissue ArrayOther MicroarraysMicroarray SoftwareNote: Other microarrays segment includes glycan microarray, carbohydrate microarray, and chemical compounds microarrays
CentrifugesCentrifuges, by TypeDevicesMultipurpose CentrifugesMicrocentrifugesMini centrifugesUltracentrifugesOther CentrifugesCentrifuge AccessoriesCentrifuges, by ModelBenchtop CentrifugesFloor-standing CentrifugesCentrifuges, by ApplicationResearch ApplicationsGenomicsMicrobiologyCellomics ProteomicsClinical ApplicationsDiagnosticsBlood Processing and ScreeningOther ApplicationsElectrophoresisGel ElectrophoresisCapillary ElectrophoresisGel Documentation Systems and SoftwareOther EquipmentNote: Other equipment segment includes autoclaves, stirrers & shakers, mixers, baths, hot plates, ovens & furnaces, and balances
Life Science Equipment Market Assessment —by End User
Pharmaceutical and Biotechnology IndustryAcademic & Research InstitutesHospitals and Diagnostic LaboratoriesAnalytical Testing LaboratoriesAgriculture and Food IndustryForensic LaboratoriesOther End UsersNote: Other end users include blood banks and industries, such as cosmetics, chemicals, oil & gas, electronics & semiconductors, automotive, aerospace, ceramics, plastics, rubber, and paints & coatings
Life Science Equipment Market Assessment —by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainSwitzerlandRest of Europe (RoE)Asia-Pacific (APAC)ChinaJapanIndiaSouth KoreaRest of APAC (RoAPAC)Latin AmericaBrazilMexicoRest of LATAM (RoLATAM)Middle East & AfricaSaudi ArabiaUAERest of Middle East & Africa (RoMEA)Unlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/26911858 
Related Reports:
Genomics Market by Offering (Systems, Consumables, Software, Services), Technology (Sequencing, Microarray, PCR), Application (Diagnostics, Life Science Research), End User (Pharmaceutical Companies, Hospitals, Academic Institutes, CRO) – Global Forecast to 2030
NGS Automation Market by Product (Platform, Consumables), Sequencing Type (Whole Genome, Exome, Targeted), Application (Drug Discovery, Diagnostics), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) – Global Forecast to 2029
Liquid Handling Systems Market by Type (Automated, Electronic, Manual), Product (Pipette, Consumables, Burette, Software, Microplate), Application (Drug Discovery, Cancer & Genomics, Clinical), End User (Hospital, Diagnostic Lab) – Global Forecast to 2029
High-Performance Liquid Chromatography (HPLC) Market by Product (Instruments [Systems, Detectors], Consumables [Columns, Tubes], Accessories, Software), Application (Forensics, Diagnostics), End User (Research, Pharmaceuticals) – Global Forecast to 2030
Next Generation Sequencing Market by Type (Consumables, NGS Platform, Software), Sequencing Type (Whole Genome, Targeted), Technology (Sequencing by Synthesis, Sequencing by Ligation), Application (Clinical, Research), End User – Global Forecasts to 2030
Chromatography Reagents Market by Type (GC, LC, TLC), Product (Solvents, Buffers, Reagents), Separation (Adsorption, Partition, Affinity), Application (Pharma, Forensic, Environmental, Cosmeceuticals, Diagnostics, QC), End User – Global Forecast to 2030
Related Blogs:
Top 10 Companies in Life Science Equipment Market
Life Science Equipment: The Role of Various Technologies
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe: +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/348/life-science-equipment-market-2031
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Public Safety and Security Market to Reach $ 514.1 Billion by 2031- Exclusive Report by Meticulous Research®

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REDDING, Calif., May 20, 2024 /PRNewswire/ — According to a new market research report titled, ‘Public Safety and Security Market by Offering (Safety Devices, Safety Software, Safety Services), Technology (IoT, AI, Cloud Computing, ML), Application (Data Gathering, Mapping, and 3D Imaging), End Use (Warehouses & Depots, Workplaces, Shopping Malls & Retail Stores) and Geography, the global public safety and security market is expected to reach $514.1 billion by 2031 from an estimated $ 234.2 billion in 2024, at a CAGR of 11.9% during the forecast period (2024–2031).

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The growth of the public safety and security market is driven by the growing utilization of AI, ML, and analytics technologies in public safety and security applications, increasing awareness and initiatives for public safety and security, and government focus on managing the needs of the rising urban population. However, the significant initial investments required to implement public safety and security solutions restrain the growth of this market. The integration of cloud computing and big data analytics in public safety and security solutions and the rising incidence of terrorism and security breaches are expected to generate market growth opportunities. However, the complexities in implementing advanced public safety and security systems and the rising cases of data theft are major challenges for market stakeholders.
The global public safety and security market is segmented by offering, technology, application, end use, and geography. The study also evaluates industry competitors and analyses the country and regional-level markets.
Based on offering, the global public safety and security market is segmented into safety devices, safety software, and safety services. In 2024, the safety services segment is expected to account for the largest share of 50% of the public safety and security market. The large market share of this segment is attributed to the increasing demand for specialized safety services to address specific safety and security challenges. Safety services such as critical infrastructure security, emergency medical, firefighting, and disaster management services are critical in ensuring the safety and well-being of citizens and critical assets.
Based on technology, the global public safety and security market is segmented into the internet of things, artificial intelligence, cloud computing, machine learning, cybersecurity, and other technologies. In 2024, the internet of things segment is expected to account for the largest share of the global public safety and security market. The large share of the segment is attributed to the rising demand for real-time data insights and improved situational awareness.
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Based on application, the global public safety and security market is segmented into data gathering, mapping and 3D imaging, threat detection, security and incident management, monitoring, fire and explosion examination, network security, and other applications. In 2024, the security and incident management segment is expected to account for the largest share of 18.5% of the public safety and security market. The large market share of this segment is attributed to the need to respond effectively to emergencies, the increasing adoption of smart city technologies, and the integration of IoT devices.
Based on end use, the global public safety and security market is segmented into warehouses & depots, workplaces, shopping malls & retail stores, schools & universities, hospitals & healthcare, residential, transportation, and other end uses. In 2024, the transportation segment is expected to account for the largest share of the global public safety and security market. The segment is estimated to contribute a revenue of USD 31.8 billion by 2024 in public safety and security market. The large share of this segment is attributed to the growing concern of terrorist threats and passenger safety. Advances in contactless ticketing and facial recognition for identity verification are driving the adoption of modern transportation security solutions. Furthermore, the implementation of AI-based video analytics for crowd monitoring contributes to the growth of this segment.
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Based on geography, the public safety and security market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 40% of the public safety and security market. The North America public safety and security market is estimated to be worth USD 95.4 billion in 2024. The large share of this region is attributed to the rising adoption of digital technology and data due to the growing need for improving decision-making, promoting digital inclusivity and equity, creating a collaborative ecosystem, prioritizing citizen safety and health, establishing trust and transparency, and developing resilience and adaptability to manage change effectively.
However, the Europe public safety and security market is slated to register the highest CAGR of the global public safety and security market during the forecast period.
The key players operating in the global public safety and security market are Hexagon AB (Sweden), Fujitsu Ltd. (Japan), Robert Bosch GmbH (Germany), Atos SE (France), Cisco Systems, Inc. (U.S.) Saab AB (Sweden), Airbus SE (Netherlands), Siemens AG (Germany), Intel Corporation (U.S.), Fotokite AG (Switzerland), CityShob (Israel), 3xLOGIC (U.S.), L3Harris Technologies, Inc. (U.S.), OnSolve (U.S.) and Haystax (U.S.).
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Scope of the Report
Public Safety and Security Market, by Offering
Safety ServicesManaged ServicesDisaster Management ServicesCritical Infrastructure Security ServicesEmergency Medical ServicesFirefighting ServicesOther Managed ServicesProfessional ServicesSafety DevicesSurveillance CamerasSensorsRadarLiDARGeodetic SensorsGeotechnical and environmental sensorsOther SensorsBiometric and Authentication DevicesSafety AlarmsIntruder Detection DevicesCritical Communication DevicesOther Safety DevicesSafety SoftwareGeographic Information SystemsAccess Control SoftwareBuilding Management SoftwareVehicle Recognition SoftwareBehavior Analytics softwareOther Safety SoftwarePublic Safety and Security Market, by Technology
Internet of ThingsCybersecurityCloud ComputingMachine LearningArtificial IntelligenceOther TechnologiesPublic Safety and Security Market, by Application
Security and Incident ManagementThreat DetectionFire and Explosion ExaminationNetwork SecurityMonitoringData GatheringMapping and 3D ImagingOther ApplicationsPublic Safety and Security Market, by End Use
TransportationRoadwaysRailwaysAirwaysWaterwaysWorkplacesShopping malls & Retail storesResidentialHospitals & HealthcareWarehouses & DepotsSchools & UniversitiesOther End UsesPublic Safety and Security Market, by Geography       
North AmericaU.S.CanadaAsia-PacificChinaJapanIndiaSouth KoreaTaiwanRest of Asia-PacificEuropeGermanyU.K.FranceItalySpainRest of EuropeLatin AmericaMiddle East & AfricaUnlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/39886758
Related Reports:
Smart Cities Market by Solution (Smart Citizen Services, Smart Environment, Smart Buildings, Smart Transportation, Smart Utilities, Other Smart Solutions), Component (Hardware, Software, Services), Technology, Geography – Global Forecast to 2030
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/895/public-safety-and-security-market-2031
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