Aug 6, 2020 8:00 PM ET
iCrowd Newswire – Aug 6, 2020
According to the recent report “Homeland Security and Emergency Management Market by End Use (Law Enforcement & Intelligence Gathering, Cyber Security, Critical Infrastructure Security), Solution (Systems and Services), Vertical, Installation Type, and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Homeland Security and Emergency Management Market is projected to grow from USD 623.1 billion in 2020 to USD 846.5 billion by 2025, at a CAGR of 6.3% from 2020 to 2025. Increasing terrorist threats and biohazard attacks, growing adoption of cloud-based applications and cloud computing technologies, and upgradation of outdated equipment and infrastructure are major growth drivers for the homeland security and emergency management market.
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Based on vertical, the homeland security segment is projected to lead the homeland security and emergency management market during the forecast period.
The homeland security and emergency management market has been segmented based on vertical into homeland security and emergency management, which provide security and safety across various industries and agencies, including aviation, border control, law enforcement & intelligence, financial service, government intelligence, and cybersecurity. It is essential to safeguard these industries from various intrusions that may cause harm to financial assets, leading to financial losses. Based on vertical, the homeland security segment is expected to lead the market from 2020 to 2025.
Based on end use, the cyber security segment of the homeland security and emergency management market is projected to grow at the highest rate during the forecast period
Based on end use, the homeland security and emergency management market has been segmented into law enforcement and intelligence gathering, risk and emergency services, border security, maritime security, aviation security, cyber security, critical infrastructure security, and CBRNE security. The cyber security segment is projected to register the highest CAGR during the forecast period. Cybersecurity solutions are categorized into six major types, namely, network security, endpoint security, application security, cloud security, wireless security, and others. The increasing deployment of mobile and web-based application security solutions by organizations is expected to lead to the growth of the cyber security market.
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The market is projected to grow at the highest rate in the Asia Pacific region during the forecast period
The rapid growth of the homeland security and emergency management market in Asia Pacific can be attributed to the increasing spending on homeland security by major economies of the region, such as China, Japan, South Korea, and India. China accounted for the largest share of the Asia Pacific homeland security and emergency management market in 2020. This large share can be attributed to the need to counter rising terrorist activities, geopolitical conflicts, strikes and protests, chemical attacks, and natural disasters, which have led major homeland security and emergency management solution providers of the region to develop enhanced techno-efficient homeland security and emergency management systems and equipment.
Some of the major players operating in the homeland security and emergency management market are Lockheed Martin (US), Raytheon Company (US), Northrop Grumman (US), Leidos (US), IBM (US), FLIR Systems (US), Thales Group (France), Elbit Systems (Israel), General Dynamics (US), and Unisys (US).
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Keywords: Homeland Security and Emergency Management Market