The rising criminal activities and terrorist attacks leading to major disruption is driving the global incident and emergency management market.
Covid-19 Impact & Market Status
Covid-19 led disruption has changed the approaches to software, hardware, and service security. The key trends that have influenced the growth of global incident and emergency management market in 2021 and beyond are rising introduction of advanced control technologies, growing importance of incident response and security management systems, and other such factors. The key factors such as increase in assaults, weather catastrophes due to changing climate, rising incidents of weather disruption and other incidents are the key drivers of global incident and emergency management market. Also, increasing adoption growing penetration of Internet of Things are also influencing the growth of global incident and emergency management market. Furthermore, technological advancements in blockchain technology, cloud computing are positively impacting the global incident and emergency management market.
This report offers a comprehensive overview of the key elements of the market such as drivers, restraints, opportunities. Furthermore, current market size, growth rate estimates through the forecast span 2021-2028, individual sectors and sub-sectors, countries, and regions contributing majorly to the growth of global incident and emergency management market are studied in the report. The report gives some recommendations and solutions that help market players take informed decisions in the global incident and emergency management market.
Traffic Management Segment Held Largest Market Share
Based on System, the traffic management industry is rapidly growing as a result of the adoption of increasingly stringent public norms and legislation. To improve people's safety, some countries have implemented severe traffic management policies. By using video monitoring and real-time images, the traffic management system attempts to minimise road accidents. These services guarantee that advantages are realised by providing proactive risk management and end-to-end emergency management consulting services.
Satellite Phones Segment To Witness Strong Growth
The satellite phones category is predicted to develop at the fastest CAGR throughout the projection period in terms of communication. Natural weather catastrophe destroy the mobile networks. Thus, the emergency responders use satellite phones to provide assistance and coordinate with the people. Satellite phones, for example, can be used to provide news and information during disasters by assisting journalists in reporting the most up-to-date information from the scene of the event.
Healthcare Sector To Experience Robust Growth
As per Vertical, the Incident and Emergency Management market is likely to increase in the healthcare sector over the forecast period. Increasing need of safety and security solutions, growing multispecialty and community hospitals implementing incident and emergency management systems is the key factor driving the growth of healthcare segment in global incident and emergency management market.
North American Likely to be the Largest Market
North America held the largest share in global incident and emergency management market and is expected to grow at rapid CAGR in the forecast years 2021-2028. Rapid technological and R&D advancements, increased fear assault and catastrophic occurrences in the North American region are also driving the industry. In North America, market development has been fuelled by an increase in government spending on incident and emergency management systems to protect people from disasters. For example, Lockheed Martin built an LTE-over-satellite system to provide connection to remote areas in the event of natural catastrophes including hurricanes, wildfires, earthquakes, and other natural disasters.
The increasing need of adopting advanced incident and emergency management solutions to curb or address the criminal activities, terrorist attacks, or other disrupting incidents is improving the reliance on global incident and emergency solutions furthering the development of global incident and emergency management market.
Owing to benefits such as protection to life or property, enhanced guidance during emergency situations, efficient management of earthquake emergencies, improved decision making, better engineering design, effective hazard mitigation strategies, incident and emergency management is experiencing rapid adoption as opposed to conventional approaches, thus fostering remarkable progress in global incident and emergency management market.
The key factors such as increase in the number of smart cities could assist rapid evacuation and monitoring systems is boosting the global incident and emergency management market.
Furthermore, the government has assured the appropriate execution of safety and emergency preparation techniques that promote the adoption of these systems, which might be some of the primary reasons projected to boost the Incident and Emergency management market growth. The rising demand for security and protection solutions due to increasing number of natural disasters and terrorist attacks encourage adoption.
The market value of global incident and emergency management market is expected to reach nearby USD 171.8 billion by the tip of 2028 with an annualized growth rate of 6.7% through the forecast span, 2021-2028.
Furthermore, the Global Incident and Emergency Management Market is primarily reliant on advanced technologies to replace out-of-date incident and emergency management systems. Companies are developing early warning systems and improved communication technologies to aid in the planning, preparation, and mitigation of catastrophes.
However, the failure of sensors to function properly at an early stage might stifle the growth of the incident and emergency management industry. Incident emergency management systems are hampered by factors such as rising natural catastrophes, an increase in terrorist attacks, implementation, and false alarms. Furthermore, a lack of emergency and incident management systems, as well as education and training, may limit the Global Incident and Emergency Management Market growth. Furthermore, the rapid technology advancements increasing efficiency of incident response and emergency systems and rising natural catastrophes increasing the need of advanced incident and emergency management solutions is anticipated to be growth opportunity to the Global Incident and Emergency Management Market
The major players in Global Incident and Emergency Management Market are Lockheed Martin, Johnson Controls, ARCOS, Eaton, BlackBerry, Resolver, 4C Strategies, LogicGate, Noggin, MetricStream, Veoci, Haystax Technology, Juvare, Everbridge, The Response Group, Alert Technologies, Larsen and Toubro Infotech, Esri, Hexagon, IBM, Collins Aerospace, NEC, Siemens, Motorola Solutions, and Honeywell among others.
Recent innovations in Global Incident and Emergency Management Market: A Snapshot
- In 2019 Siemens created Cerberus Portal, an online cloud-based fire security application. Cerberus Connect X300, which uses encrypted transmission technology and an underlying firewall, assists in moving data to the cloud. Support staff receives consistent data in the event of a fire, allowing them to respond swiftly, educate customers, and schedule a site visit.
Incident and Emergency Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 171.8 billion|
|Growth Rate||CAGR of 6.7 % during 2021-2028|
|Segment Covered||System Type, Communication, Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Lockheed Martin, Johnson Controls, ARCOS, Eaton, BlackBerry, Resolver, 4C Strategies, LogicGate, Noggin, MetricStream, Veoci, Haystax Technology, Juvare, Everbridge, The Response Group, Alert Technologies, Larsen and Toubro Infotech, Esri, Hexagon, IBM, Collins Aerospace, NEC, Siemens, Motorola Solutions, and Honeywell among others.|
Key Segments of Global Incident and Emergency Management Market
System Type Overview, 2018-2028 (USD Billion)
- Web based emergency management
- Traffic Management
- Disaster Recovery
- Backup System
Communication Overview, 2018-2028 (USD Billion)
- First Responder Tools
- Satellite Phones
- Emergency Response Radars
Vertical Overview, 2018-2028 (USD Billion)
- IT and Telecom
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa