Scienza e Tecnologia
Public Safety Sensors Market to Reach $2.44 Bn, Globally, by 2027 at 7.1% CAGR: Allied Market Research
PORTLAND, Ore. , Oct. 6, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, According to the report, the global generated $1.46 billion in 2019, and is expected to reach , growing at a from 2020 to 2027.
Rise in utilization of internet of things (IoT), strict government regulations regarding implementation of leak detection systems, and advancements in sensor technologies for public safety applications drive the growth of the global public safety systems market. However, incorporation of sensors in devices leading to extra initial value and reduction in lifespan of devices hinders the market growth. On the other hand, increase in adoption of wearable devices for public safety applications creates new opportunities in the coming years.
Based on sensor type, the pressure sensor segment contributed to the highest market share in 2019, accounting for nearly half of the global public safety sensors market, and is expected to maintain its dominant share throughout the forecast period. This is due to favorable government regulations regarding the mandate of pressure sensors in automobiles. However, the acoustic wave sensor segment is expected to witness the largest CAGR of 10.8% from 2020 to 2027, owing to rise in applications in healthcare and industrial sectors.
Based on application, the flood detection segment held the highest share in terms of revenue, accounting for more than one-third of the global public safety sensors market in 2019, and is projected to continue its lead during the forecast period. This is attributed to enhanced features such as real-time monitoring and instant alerts. However, the indoor and outdoor gunshot detector segment is expected to witness the highest CAGR of 11.1% from 2020 to 2027. This is due to surge in adoption of gunshot detectors by the military and defense sectors.
Based on region, Asia-Pacific , followed by North America , accounted for the in terms of revenue with nearly half of the global public safety sensors market in 2019, and is projected to maintain its dominant share by 2027. Moreover, this region is projected to witness the highest CAGR of 8.1% during the forecast period. This is due to technological advancements and increase in automotive standards in developing nations such as India , China , and Indonesia . The report also analyzes regions such as Europe and LAMEA.
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