Press release
Mass Notification System Market is Projected to reach $35.23 billion by 2026 | Key players - IBM Corporation, Oracle Corporation, SAS institute, Tibco Software, Hitachi Vantara, Teradata Corporation, Alteryx, Impetus, Trifacta Software Inc
The transportation & logistics sector is expected to witness significant growth in the upcoming years, owing to reduce rising threats such as plane hijacks, terror activities, smuggling and to identify weather related situations.
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The global market was valued at $8.05 billion in 2018, and the mass notification system market forecast is projected to reach $35.23 billion by 2026, growing at a CAGR of 20.30% from 2019 to 2026.
The report analyses the profiles of key players operating in the market IBM Corporation, Oracle Corporation, SAS institute, Tibco Software, Hitachi Vantara, Teradata Corporation, Alteryx, Impetus, Trifacta Software Inc., and Paxata Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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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.
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.
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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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