The Business of Security – Market Size and Outlook
The ever-flowing transfusion of data and information can be the lifeline to keep cities safe, as long as threats are detected quick enough, safeguards are in place and counter measures are robust.
- Big data market is expected to grow to USD 66.79 billion by 2021, at a high CAGR of 18.45%.
- With an estimated 50 billion connected devices by 2020, the economic impact of IoT is estimated at USD 11 trillion by 2025.
- Global market size for unmanned aerial systems in 2020 is expected to be USD 6.4 billion and USD11.6 billion for commercial and military use respectively.
Make cyberspace safe by managing cyber threats.
- The global cybersecurity market is estimated to tip at USD 170 billion by 2020.
- In 2015, Darknet markets grew 37% in product listings from the previous year, making it a fourth straight year of strong growth.
- Track-and-trace technology and real-time locating systems will face a ready market as high as USD 134 billion by 2020, in total anti-counterfeit packages.
Digitalization has led to increased use of identity-related information by people, vehicles/ships and devices. Identity management and detection in a borderless and cyber-enabled environment has become critical.
- Global government biometrics market is expected to be worth USD 6.9 billion by 2024
- Trade corridors and border security initiatives will see USD 105 billion spent by 2020
A Changing Landscape
The security landscape is changing. Technology today has evolved to become a double-edged sword. Criminals are taking advantage of technology, ease of international travel and the anonymous world of virtual business to disrupt public security and commercial stability. Nations and law enforcers need to adopt a multi-stakeholder approach to counter security challenges in the strategic and operational landscape. Security is only as strong as what we make of it.
Driven by the need to stay connected, the ever-flowing transfusion of data and information can be the lifeline that keeps societies alive, as long as threats are recognized, safeguards are in place, and counter measures are resilient.
- 50 billion devices will be connected to one another by 2020; economic impact of IoT is $11 trillion by 2025
- Future expenditure for C4ISR2 electro-optical market expected to reach USD5.6 billion in 2020
- Trade corridors and border security initiatives will see USD105 billion spent in those area
- Synthetic Biology is estimated to be more than $10 billion in 2016
These figures indicate the urgency that cities and stakeholders feel, in the pursuit of what we know to be the future. With its materialization based on the delicate balance between the bright and dark sides of the technological force, the future landscape of policing must now include the extended arm of the law, stretching into the IoT.