Welcome to the International State of Safety Tech Report 2023! This report, led by Paladin, PUBLIC & Perspective Economics and leading cyberpsychologist and Paladin’s Chief Scientist Safety Tech, Dr. Mary Aiken, is the culmination of extensive research shedding light on the international evolution, growth, and impact of Safety Tech.

For the first time, this study brings together deep industry expertise from these three organisations as part of a unique collaboration to help advance the field and market education. This report sets out a baseline for a first-of-its-kind, multi-year international study into a market that has the potential to benefit online users globally by keeping people safe online.

The research aims to identify and analyse providers of Safety Tech products or services globally to: 

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• Improve data on Safety Tech companies globally; 
• Increase awareness of the sector amongst investors, government, law enforcement, industry, and consumers; and 
• Support the growth of the international Safety Tech sector over time. 

Through a combination of desk research, expert interviews and quantitative market analysis, our research has highlighted a number of key takeaways: 
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Key Takeaways

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1. Vast Industry Growth: 

• Over 537+ organisations are contributing to the Safety Tech ecosystem worldwide, nearly tripled in the last decade. 
• This sector has seen exceptional growth, employing nearly 17,000 individuals in 37 countries. 

2. Global Pioneers: 

• The UK and the US lead the way, collectively hosting 74% of Safety Tech firms. 
• Significant presence in Israel, Canada, Australia and in the EU, particularly in France, Germany, Sweden and Ireland underlines the sector’s global reach. 

3. Investment Surge: 

• The Safety Tech sector has witnessed a staggering investment surge, with firms raising $4.8 billion between 2021-2023, almost tripling investment in just three years. 
• The number of deals surged to 258, averaging $18.6 million per deal in 2021-2023 - signalling the sector’s increasing market maturity, especially with a rise later stage VC deals. 

4. Evolving Market Dynamics:  

• Recent legislation in the UK and EU highlight the sector’s increasing significance, paving the way for substantial growth and innovation. 

We hope that this edition as part of our series of annual research reports promotes fresh engagement around the role of the Safety Tech sector in facilitating safer online experiences, tackling criminal and national security threats and supporting effective online safety regulatory regimes.