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There is Increasing Need among Government and Public Organizations to Adopt Incident and Emergency Management Solutions and Systems to Enhance Public Safety and Reduce the Losses Due to Disasters and Emergency Situations
The incident and emergency management market is experiencing a rapid growth across the world due to various factors, such as changing climatic conditions, increasing government regulations & norms, and increased terrorist attacks. To provide safety and reduce the losses due to these disasters, end users are adopting various advanced incident and emergency management solutions and services. However, factors such as outdated incident and emergency management infrastructure and disconnection between disaster risk reduction policy and emergency management in practice can be seen hindering the growth of the market, but these are expected to be impactful for only a short period. MarketsandMarkets expects the global incident and emergency management market size to grow from USD 88.58 Billion in 2016 to USD 114.01 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.2% from 2016 to 2021.
Technological companies such as Honeywell International, Inc., Siemens AG, Motorola, Lockheed Martin Corporation, and Rockwell Collins have created leading incident and emergency management solutions to cater to the needs and demands of the market. These players adopted various growth strategies, such as acquisitions, agreements, partnerships, and new product launches.
Partnerships, agreements, and collaborations have been a major strategical trend, accounting for almost half of the market share of all the growth strategies adopted by the major market players. Honeywell International, Inc. and Siemens AG are the two key players that adopted these strategies to grow in the market. Honeywell International, Inc. adopted the strategies of partnerships, collaborations, alliances, and new product launches. Honeywell entered into an agreement with the European Space Agency (ESA) for its global tracking solution to reduce the time taken to respond to an emergency. The company also launched FirstCommand Emergency Communication System (ECS). This product is specifically designed to seamlessly integrate with any fire alarm and provide a system to broadcast live voice messages, recorded general messages, and emergency alerts.
Siemens AG is also one of the leading players in the incident and emergency management market. Siemens adopted the strategies of partnerships and collaborations, acquisitions, new product launches, business expansions, and acquisitions. Siemens expanded its collaboration with Intel Security, a global computer security solution provider. This collaboration will help industrial automation systems to be safe from increasing cyber threats. The building technologies division of company also launched a fire safety system with Cerberus FIT FC360 fire control panel for smaller applications. FC360 will help Siemens to target the rapidly growing smaller fire safety system market.
The key players are engaging in collaborations and partnerships to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and collaborations in the incident and emergency management market are Honeywell International, Inc., Siemens AG, Motorola Solutions, Lockheed Martin Corporation, Rockwell Collins, ESRI, Frequentis AG, Intergraph, Intermedix, and Metricstream.
Incident and Emergency Management Market by System and Solution (Web-Based Emergency Management, Mass Notification), Professional Service, Simulation, Communication Tool and Device, Vertical, and Region - Global Forecast to 2021
Markets and Markets
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