Incident and Emergency Management Market

[307 Pages Report] MarketsandMarkets forecasts that the global incident and emergency management market will grow from an estimated USD 121.4 billion in 2022 to USD 163.6 billion by 2027, at a compound annual growth rate (CAGR) of 6.2%. The rise in government initiatives and regulations and increased attack by terrorists and biohazards is expected to fuel market growth.

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Incident and Emergency Management Market Dynamics

Driver: Increase in natural disasters worldwide

Natural disasters affect not only individuals and communities but also economies, governments, and international systems. Natural disasters continuously affect developed and developing countries, resulting in loss of lives and causing economic damage. Over the past 20 years, a higher number of natural disasters have occurred worldwide, including wildfires, earthquakes, and hurricanes, that have been brought on by environmental imbalance and growing global warming. Understanding the exact location of a natural catastrophe in time is essential for any effective rescue mission. The market for incident and emergency management is expected to grow due to the increasing frequency of natural catastrophes worldwide.

Restraint: Obstacles caused by false alarm rates

False information exposure during emergencies might make people more vulnerable. False alarm rates now hinder the expansion of the incident and emergency management market. They include false alarms brought on by equipment, malevolent alarms, and false alarms due to good intent. The efficiency of incident and emergency management solutions is decreased by these alarms, which causes consumers to lose faith in these solutions. This could cause people to disregard legitimate alarms. False alarms are a major problem for intrusion detection systems installed outside buildings.

Opportunity: Updating of outdated incident emergency and management solutions

Many advanced countries still use outdated disaster management infrastructure and techniques that are prone to failing in the face of a serious calamity. Most developing countries still lack sophisticated solutions, which have been fatal during natural catastrophes such as earthquakes, hurricanes, and tsunamis since there are insufficient warming systems and emergency management capabilities. Nations' governments, including Kenya, are reluctant to invest in disaster management programs. They prefer to employ conventional methods, but as they have shown inadequate for effectively managing natural and human-caused catastrophes, government, public, and private organizations have begun to modernize their conventional approaches and systems. Incident and emergency management suppliers are anticipated to have considerable growth prospects, which is anticipated to boost the market's overall growth in the upcoming years.

Challenge: Disparities in the cost of incident and emergency management systems

Devices for incident and emergency management use various hardware parts and software programs. The elements that affect costs are numerous. As a result, the prices that businesses would charge customers may be different from the original costs of incident and emergency management systems. Installing fire alarm systems, smoke detectors, video surveillance systems, detecting sensors, and controllers is expensive for startups and SMEs. As a result, they frequently use inexpensive incident and emergency management solutions, with low-quality sensors, low-resolution cameras and short detection ranges leading to false alarms and the possibility of loss and damage. As a result, SMEs in the incident and emergency management industry face difficulties due to expensive installation and maintenance costs.

By vertical, defense and military to account for largest market share during forecast period

A country is subject to terrorist attacks, external aggressions, and natural disasters. This vertical has several valuable assets, such as planes, tanks, command centers, weapons, and flight lines. Hence, securing these assets is mandatory, as any attack on these may compromise the country’s security. The defense and military sector deals with a country’s sovereignty, integrity, and security; therefore, a reliable, fast, and ultra-secure communication mode is paramount. Incident and emergency management solutions help the military and defense sector reduce casualties during a natural disaster or terrorist attack by coordinating response measures and reinforcing proper medical and food supplies. This vertical is increasing its security budgets significantly, aligning strategies with security plans, and creating security awareness programs for employees.

Incident and Emergency Management Market Ecosystem

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By Region, Asia Pacific Is Expected to Grow at Highest CAGR During Forecast Period

Asia Pacific includes big developing economies, such as China, Japan, India, and Rest of Asia Pacific. Tsunamis, earthquakes, cyclones, and terrorist attacks constantly threaten Asia Pacific. For example, recently, in 2021, the region experienced unpredictable climate-related disasters, which severely affected more than 57 million people. More than 18 million people have been severely impacted by floods and cyclones in India, around half a million people have been swamped by floods, with hundreds of villages marooned for weeks in Bangladesh, and around one-third of Nepal suffered floods or landslides. Most of the countries in Asia Pacific are developing and implementing incident and emergency management solutions to protect their people and safeguard their infrastructure from damage caused by natural and man-made disasters. The region has been able to acquire a high growth in performance due to the late adoption of mass notification systems in the public sector for easier communication among regional officials.

Key Market Players:

The key players in the global incident and emergency management market include Honeywell (US), Lockheed Martin (US), Motorola Solutions (US), Siemens (Germany), NEC (Japan), IBM (US), Hexagon (Sweden), Collins Aerospace (US), Esri (US), LTIMindtree (India), Johnson Controls (Ireland), Alert Technologies (US), Everbridge(US), The Response Group (US), Haystax Technology (US), MetricStream (US), BlackBerry (Canada), Eaton (Dublin), Veoci (US), Noggin (Australia), 4C Strategies (Sweden), Resolver (Canada), ARCOS (US), Juvare (US), LogicGate (US), and OnSolve (US).

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Scope of the Report

Market Segmentation

Recent Developments:

• In October 2022, Honeywell and Avaya collaborated to advance the emergency response capabilities of regional law enforcement and smart city organizations.
• In July 2022, The Santa Fe Ministry of Security partnered with Motorola Solutions. In this partnership, Motorola Solutions will offer an end-to-end emergency management system for multi-agency coordination and shorten response times to emergency calls from the public.
• In June 2021, Lockheed Martin partnered with RapidDeploy. Lockheed Martin Implemented RapidDeploy's Nimbus Solution to Support their Facility Emergency and Tactical Response Needs.
• In March 2022, NEC partnered with Haven for Hope, a non-profit organization. This partnership will create Technology-Enabled Solutions that enhance safety, streamline operations, and empower clients. NEC will provide automated mass emergency notification systems to enable multi-channel broadcasts during critical events.
• In December 2021, Siemens partnered with Shooter Detection Systems (SDS) to improve public safety in the event of an active shooter situation. This partnership will enable organizations to automatically alert building security by triggering alarms with Siemen’s Desigo CC building management system or Cerberus danger management system software.

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