Incident and Emergency Management Market to Garner $423.32 Billion by 2025 on Adoption of Advanced Security Devices

The global incident and emergency management market was valued at $75.46 billion in 2017 and is expected to reach $423.32 billion, registering a CAGR of 24.2% from 2018 to 2025.

"Novel inventions in radar technology namely, Plextek's micro radar system and NASA's FINDER are expected to create lucrative opportunities for the players in the global incident and emergency management market."

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Increase in the number of natural calamities and frequent acts of terrorism are the key factors driving the growth of the global incident and emergency management market. Moreover, stringent government regulations toward public safety have supplemented the market growth. However, high costs of installation and maintenance detriment the market growth. On the contrary, an increase in adoption of advanced security devices is expected to create lucrative opportunities for the market players in the near future.

Emergency response radar technology to portray the highest demand by 2025:

The report divides communication technology into first responder tools, satellite phones, emergency response radar, vehicle ready gateways, and others. The emergency response radar technology would demonstrate the fastest growth of 27.1% CAGR during the study period. In addition, the other segment, which comprises CBRNe/Hazmat Detection system and tsunami warning system, would grow at the fastest CAGR of 27.9% during the forecast period.

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Healthcare segment to demonstrate the highest demand by 2025:

The report discusses the major industrial vertical, including BFSI, public sector, healthcare, telecom & IT, energy & utilities, manufacturing, aerospace & defense, transportation & logistics, and others. In 2017, energy and utilities garnered $13.04 billion, contributing about 17% of the total market share. However, the healthcare sector would register the highest CAGR of 28.3% through 2025.

Asia-Pacific holds a substantial share in the market:

The report offers a country-level study of major regions such as North America, Europe, Asia-Pacific, and LAMEA. In 2017, Europe gathered the highest revenue, contributing nearly 40% of the market share. However, Asia-Pacific is expected to be the fastest growing region throughout the study period, registering a CAGR of 27.2% from 2018 to 2025, followed by LAMEA.

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Torchbearers of the industry:

The report discusses the major players of the global incident and emergency management market, including Esri Inc., IBM Corporation, Intermedix Corporation, Motorola Solutions, Inc., Rockwell Collins and Siemens AG, Honeywell International Inc., Intergraph Corporation, Lockheed Martin Corporation, NEC Corporation. These key market players have adopted various strategies such as product launch, joint ventures, partnerships, collaborations, and mergers & acquisition to maintain their position in the market.

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