At 26.6% CAGR, the South & Central America AI for Public Security and Safety Market is projected to be worth US$ 1,521.91 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America AI for public security and safety market was valued at US$ 292.40 million in 2023 and is expected to reach US$ 1,521.91 million by 2030, registering a CAGR of 26.6% from 2023 to 2030. Digital transformation in the security applications and security breaches and growing number of smart cities and developments in road traffic management are the critical factors attributed to the South & Central America AI for public security and safety market expansion.               

Digitization, connectivity, and data availability are driving digital transformation worldwide. This shift across industries is giving rise to new services, contributing to better operational efficiencies, and leading to an increase in customer satisfaction. Digital transformation, coupled with the digitalization of security operations, due to a more connected and data-driven approach by different stakeholders is drastically changing how security organizations work, thus leading to improvements in public safety and protection. The information available allows quick access to police databases, enabling faster and better decision-making. The Motorola Company's video security and analytics solutions are at the forefront of intelligent video solutions, enabling public safety agencies to review, detect, and respond to critical events. Similarly, Avigilon's Appearance Search technology allows law enforcement and security personnel to quickly search through massive volumes of recorded videos to locate a specific vehicle or person of interest.

Public safety is a high-pressure sector, and digital transformation can create the momentum needed to handle the scale, complexity, unpredictability, and complex regulatory requirements. In addition, introducing new assistive AI strategies will help improve decision-making for more effective responses. AI also plays an essential role in the digital transformation of emergency responses. With cloud-based sharing, AI technology can inform authorities during crises, facilitating faster responses. The proliferation of these technologies will bring numerous benefits to the public and first responders, thereby saving lives with quicker response rates. Thus, the digital transformation in the field of security is expected to fuel the growth of the AI public safety and protection market in the coming years.  

On the contrary, high costs of public safety and security solutions hurdles the growth of South & Central America AI for public security and safety market.

Based on application, the South & Central America AI for public security and safety market is segmented into preventative policing, criminal investigation, combating terrorism, emergency response and disaster management, and others. The preventative policing segment held 39.0% share of South & Central America AI for public security and safety market in 2023, amassing US$ 114.06 million. It is projected to garner US$ 573.38 million by 2030 to expand at 25.9% CAGR during 2023–2030.

Based on component, the South & Central America AI for public security and safety market is bifurcated into solution and services. The solution segment held 73.6% share of South & Central America AI for public security and safety market in 2023, amassing US$ 215.27 million. It is projected to garner US$ 1,142.22 million by 2030 to expand at 26.9% CAGR during 2023–2030.

Based on end-use industry, the South & Central America AI for public security and safety market is segmented into law enforcement agencies, federal intelligence and security, and others. The law enforcement agencies segment held 45.5% share of South & Central America AI for public security and safety market in 2023, amassing US$ 133.10 million. It is projected to garner US$ 735.81 million by 2030 to expand at 27.7% CAGR during 2023–2030.  

Based on country, the South & Central America AI for public security and safety market is segmented into Brazil, Argentina, and the Rest of SAM. Our regional analysis states that Brazil captured 75.6% share of South & Central America AI for public security and safety market in 2023. It was assessed at US$ 221.17 million in 2023 and is likely to hit US$ 1,179.85 million by 2030, exhibiting a CAGR of 27.0% during the forecast period.  

Key players profiles in the South & Central America AI for public security and safety market report Atos SE, Hexagon AB, Hitachi Ltd, Honeywell International Inc, International Business Machines Corp, Motorola Solutions Inc, Thales SA, and Voyager Labs Ltd, among others.

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