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Mass Notification System Market Rising Trends, Demands and Business Outlook - 2026
Mass Notification System Market
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On the other hand, high installation and maintenance costs restrain the growth. However, surge in adoption of smart cities across developing nations is projected to create lucrative opportunities in the industry.
According to the report published by Allied Market Research, the mass notification system market was estimated at $8.05 billion in 2018 and is expected to hit $35.23 billion by 2026, registering a CAGR of 20.30% from 2019 to 2026.
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The global mass notification system market is analyzed across component, deployment mode, organization size, type, industry vertical, and region. By component, the solution segment contributed to around three-fourths of the total market share in 2018 and is expected to dominate by 2026. The service segment, on the other hand, is projected to grow at the fastest CAGR of 22.8% throughout the forecast period.
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 a rise in investment in emergency preparedness along with technological advancement in infrastructure technologies.
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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.
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.
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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.
The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
COVID-19 scenario-
• The outbreak of COVID-19 led to increase in demand for cloud-based mass notifications systems across different industry verticals, thereby boosting the growth of the mass notification system market.
• This drift is likely to continue post pandemic as well, as it involves staff protection, extensive threat response, regulatory compliance, and low response time.
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The key market players analyzed in the global mass notification system market report include Honeywell International Inc., Siemens AG, Eaton Corporation, OnSolve (Ecn+ Mir3+ Sendwordnow), xMatters Inc. IBM Corporation, NetApp Inc, Everbridge Inc., Johnson Controls, and Metis Secure Solutions. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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