Market Challenges And Opportunities

Global Homeland Security Market Drivers:

Rise in government initiatives for protecting nation from civil wars and cross border disputes to drive the market growth

The world is experiencing rise in civil wars and cross-border disputes. Border conflicts are occurring among nations as a result of expansionism, terrorism, possession of natural resources among others. Whereas, civil wars are arising due to territorial disagreement, and political unrests. In order to overcome these conflicts, several governments are taking significant actions for controlling such situations and hence are heavily investing in the homeland security of the country. This in turn is expected to augment growth of the global homeland security market over the forecast period.

Increasing cases of trafficking and smuggling across the world to boost the market pace

Among various other reasons, criminal activities are growing all over the world due to trafficking and smuggling. Smuggling and trafficking can include illegal human immigration, human trafficking, and drug smuggling starting the fastest growing anti-social threat worldwide. This is due to various global factors such as prolonged poverty in nations such as Botswana, Namibia, Mozambique, Paraguay, and Uruguay leading to increasing migration from these countries, and economic crisis among countries such as Afghanistan, Pakistan, and Iraq. These factors are driving the demand for homeland security solutions, which is expected to propel growth of the market in the coming years.

Global Homeland Security Market Opportunities:

Growing demand for information security is expected to offer growth opportunities in the global homeland security market during the forecast period. Information security involves protecting user information and data from unauthorized modification, access, destruction, or disruption that can pose threat to the nation. Governments, hospitals, the military, research and educational institutes, along with public and private organizations among others maintain a large amount of information. This information is stored on the cloud and servers and through electronic media it is transmitted across networks. To maintain security of this data or information demand for information security solutions is increasing all over the world, which in turn is creating growth opportunities for homeland security market.

Increasing technological developments are likely to provide market players with multiple business opportunities during the forecast period. With the launch of novel technologies, the market is projected grow significantly in near the future. The market will be transformed due to advancements in robotics, biotechnology, portable unmanned vehicles, nanotechnology, and cloud computing among others. Adoption of these technologies will create demand for homeland security solutions and services, which in turn will offer various opportunities in the market during the forecast period.

Global Homeland Security Market Restraints:

High cost of ensuring homeland security to impede growth of the market

Homeland security products, systems, and services are offered to various agencies are high cost. The adoption of this technology is slower in regions such as Middle East and Asia Pacific due to the high cost of homeland security solutions and services. Moreover, the cost of installation of these solutions is also significantly high. Thus, this factor is expected to restrain growth of the global homeland security market over the forecast period. However, several market players are investing in R&D to develop cost effective homeland security solutions, which is likely to support the market growth.

Low prioritizing of emergency management action plans to obstruct the market growth

Manmade or natural disasters and their consequences can significantly impact the political environment of a state, community, or nation. After disaster, engagement and coordination by participants at all government levels are need to set overall priorities as well as objectives to recover from the disaster. However, due to involvement of several politicians, there is a slow response to operations, which further causes delay in the adoption of incident management solutions. Thus, this factor is thus expected to hinder growth of the global homeland security market over the forecast period.

Restraints & Challenges: