Mass Notification Market 2020 to Witness a Pronounce Growth During 2019–2026 | COVID-19 Impact & Recovery Analysis with Current Scenario
According to the report, the global mass notification system market accounted for $8.05 billion in 2018, and is expected to reach $35.23 billion by 2026, growing at a CAGR of 20.3% from 2019 to 2026.
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Increase in need for automate building solutions and supportive industry standards and regulations have boosted the growth of the mass notification system market. However, high installation and maintenance costs impede the market growth. Moreover, increase in adoption of smart cities across developing nations is expected to create lucrative opportunities in the near future.
Based on deployment, the cloud segment dominated the global mass notification system market in 2018, contributing to nearly three-fifths of the market, owing to the different services provided by the cloud. On the other hand, the on-premise segment is projected to portray the highest CAGR of 22.4% during the forecast period, owing to the increase in the adoption of these systems due to enhanced security features provided by the on-premise model.
Based on component, the service segment is expected to manifest the highest CAGR of 22.8% during the forecast period, owing to rise in need of various different services such as managed service and professional services. However, the solution segment held the largest share in 2018, accounting for around three-fourths of the global mass notification system market. The mass notification solutions are cheaper and are faster to deploy, which drives the growth of this segment.
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Based on geography, the market across North America held the largest share in 2018, accounting for more than one-third of the total revenue, and is expected to continue its dominance throughout the forecast period. This is due to rise in investment in the emergency preparedness along with technological advancement in infrastructure technologies.
On the other hand, the Asia-Pacific region is anticipated to register the fastest CAGR of 22.80% during the study period, due to continuous rise in the number of terrorist attacks and natural calamities in this region. The report also analyzes regions across Europe, and LAMEA.
Key Market Players Profiled In The Report:
• Johnson Controls
• Honeywell International Inc
• IBM Corporation
• Siemens AG
• Eaton Corporation
• OnSolve (Ecn+ Mir3+ Sendwordnow)
• NetApp Inc
• Everbridge Inc.
• Metis Secure Solutions and xMatters Inc
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Key questions answered in Mass Notification System Market research study:
♦ What is the market growth rate of Mass Notification System Market from 2020-2027?
♦ What will be the global market size of the market from 2020 to 2027?
♦ Who are the leading global players in the Mass Notification System Market?
♦ What are the current trends and predicted trends?
♦ What are the challenges faced in the Mass Notification System Market?
♦ Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
♦ Which will be the anticipated growth rates for your own Mass Notification System Market economy altogether and also for every segment inside?
♦ Which will be the Mass Notification System Market application and types and forecast accompanied closely by producers?
♦ What are the conclusions of the Mass Notification System Market report?
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