Incident and Emergency Management Market worth $122.94 billion by 2023

The report "Incident and Emergency Management Market by System (Web-Based Emergency Management, Mass Notification, Surveillance System, Safety Management), Solution, Service, Simulation, Communication Tool and Device, Industry Vertical, and Region - Global Forecast to 2023", is expected to grow from USD 93.44 billion in 2018 to USD 122.94 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period. Increasing incidents pf terrorist and biohazardous attacks, and unpredictable natural disasters due to ever changing climatic conditions, and stringent government regulations are expected to drive the market.

Browse 83 market data Tables and 38 Figures spread through 164 Pages and in-depth TOC on "Incident and Emergency Management Market by System (Web-Based Emergency Management, Mass Notification, Surveillance System, Safety Management), Solution, Service, Simulation, Communication Tool and Device, Industry Vertical, and Region - Global Forecast to 2023"
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Emergency/mass notification system is expected to grow at the highest CAGR during the forecast period

The incident and emergency management market by system includes web-based emergency management system, emergency/mass notification system, surveillance system, traffic management system, inventory/database management system, safety management system, remote weather monitoring system, tsunami warning system, earthquake/seismic warning system, and CBRNE/HAZMAT detection system. Among various systems, the emergency/mass notification system is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing adoption of emergency/mass notification system by enterprises to send or receive real-time sensitive emergency message notifications in the form of texts, emails, or voicemails, before or during emergencies. The key vendors offering mass notification system include Blackberry, Honeywell International, Siemens, Everbridge, Singlewire Software, Mitel Networks, and Alertus Technologies.

The telecom and IT industry vertical is expected to grow at the highest CAGR in the incident and emergency management market during the forecast period

The telecom and IT industry vertical is expected to be fastest growing, as it is considered as an important element in the economic and social growth of a country. The loss of data and valuable information can severely hamper the operations of the telecom companies. Thus, there is a huge need to protect such data and information. With the help of systems and platforms, such as inventory system, backup and disaster recovery system, and mass notification system, the emergency management agencies can predict, plan, and prepare for emergency situations. Incident management software helps the telecommunication industry in tackling critical information, such as an event’s place, time, and impact.

North America is expected to hold the largest market share in the incident and emergency management market during the forecast period

North America is expected to have the largest market share and dominate the incident and emergency management market from 2018 to 2023, due to the presence of major incident and emergency management solution vendors and Managed Security Service Providers (MSSPs). North America is a home for the majority of the industries with a large operation base, and has witnessed a prominent implementation of advanced incident and emergency management systems, solutions, and services in most of its industries especially BFSI, energy and utilities, manufacturing, government and defense, aviation, hospitality, telecom and IT, and healthcare and life sciences. These industry verticals are adopting incident and emergency management solutions to protect public and assets from disasters. The other drivers for the increasing demand for incident and emergency management systems, solutions, and services include the need for regulatory compliance and to avoid huge monetary losses due to disasters.

The APAC region is expected to grow at the highest CAGR of 9.0% during the forecast period, due to the increase in government expenditure on emergency and disaster management systems to safeguard people from disasters. Most of the countries in the APAC region are developing and implementing incident and emergency management solutions to protect their people and safeguard their infrastructure from damages caused due to these natural and man-made disasters.

The report encompasses the different strategies, such as mergers and acquisitions, partnerships and collaborations, business expansions, and product developments, adopted by the major players to increase their market share. The major incident and emeregency vendors include IBM (US), NEC Corporation (Japan), Hexagon (Sweden), Esri (US), NC4 (US), Intermedix Corporation (US), Eccentex (US), The Response Group (US), Haystax Technology (US), Alert Technologies (US), Crisisworks (US), EmerGeo (US), Veoci (US), and MissionMode (US).

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Report Code
TC 2158
PR Published ON
3/28/2018
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