According to the research report titled ‘Global Public Safety Sensors Market Size study, by sensor type (Level Sensor, Temperature Sensor, Proximity Sensor, Acoustic Wave Sensor, Pressure Sensor, Humidity Sensor, Gas Sensor and Others), By Application ( Indoor & Outdoor Gunshot Detector, Fall Detection, Flood Detection, Car Crash Detection, Infrastructure Failure Detectors and others) and Regional Forecasts 2020-2027’, available with Market Study Report, global public safety sensors market was valued at USD 1.46 billion in 2019 and is projected to attain a valuation of USD 2.53 billion by 2027, registering a CAGR of 7.1% over the study period.
 

Increasing investments in research & development activities by major players, and rising inclination of society towards internet of things (IoT) technology are the key factors stimulating global public safety sensors market growth.
 

According to Statista, North American IoT market witnessed an increase from USD 140 billion in 2012 to USD 330 billion in 2018. The number of IoT units in Canada rose from 28 million in 2013 to 114 million in 2018, cited the same source.
 

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Notably, key goal of the Industry 4.0 initiative is to incorporate the Internet of Things (IOT) to simplify manufacturing and business processes, thereby integrating the ability of sensors, computers, and machines for better interaction with human.
 

For those unversed, public safety sensors are devices that sense and output information about events or changes in the environment. They detect physical input like light, heat, pressure, motion, moisture, and other entities and respond by displaying an output or transmitting the data in electronic form for further processing.
 

These sensors are used in traffic monitoring & controlling, environmental monitoring, remote system monitoring & equipment fault diagnostics, and flood & water level monitoring systems. Recent advancements in ubiquitous computing and mobile devices have fueled worldwide public safety sensors industry expansion. In addition, leading contenders are adopting strategies such as product launches, innovation, and mergers & acquisitions to ensure profitability and to sustain the fierce competition.
 

Despite the promising growth trajectory of worldwide public safety sensors industry, factors like integration of sensor devices incurring extra cost and reducing life span of the device will negatively impact the business expansion over the coming years.
 

Coming to the regional front, North America presently holds considerable portion of global public safety sensors market share, creditable to increasing convergence of various technologies like big data & analytics, artificial intelligence (AI), and internet of things (IoT), along with rising partnership between governments of several economies and companies to install such technologies in public places.
 

Leading organizations in global public safety sensors market sphere are Texas Instruments Incorporated, Siemens AG, Sensor Industries Inc., Schneider Electric SE, Rockwell Automation Inc., Keyence Corporation, Infineon Technologies AG, Fibaro Group S.A., Baumer Holding AG, and ABB Ltd.