Press release
Global Incident and Emergency Management Market Size, Status and Forecast 2021-2027
The global Incident and Emergency Management market size is projected to reach US$ 121470 million by 2027, from US$ 90370 million in 2020, at a CAGR of 3.9% during 2021-2027. Key drivers of the incident and emergency management market include strict government regulations regarding disaster management and increasing natural calamities. The rising incidents of terrorism globally have forced several countries to invest heavily into their military and defense sectors in order to shore up safety measures thereby driving the growth of the incident and emergency management market during the forecast period. However, low priority given by organizations towards disaster management and casual attitude due to lack of awareness will restrict the market growth in the subsequent years.
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Trends Influencing the Global Incident and Emergency Management Market
Government rules and regulations
Several industry verticals such as aerospace, BFSI, banking, government agencies, retail, manufacturing, etc are relying on third-party suppliers and vendors for training employees on risk management and evacuation in case of any emergencies. Stricter government regulations regarding disaster management policies have led to the deployment of smart surveillance, mass tracking, and evacuation systems for ensuring minimum damage to lives, property, or monetary resources. Climate change has increased occurrences of natural calamities and disasters. Hence countries are investing in resilient infrastructure to bounce back effectively. This is expected to drive the growth of the incident and emergency management market during the review period.
The rise in criminal activities and terrorism
The significant increase in criminal activities and violence has claimed many lives across the world. International terror attacks are becoming frequent with better funding and huge networks. There is a need for enhanced notification, surveillance, and alert systems for quick response to terror activities. This will help in mitigating risk factors and create a safe environment for civilians and public life. Counterterrorism groups, military groups, and defense sectors are being scaled up to thwart global terrorism. This in turn will drive the growth of the incident and emergency management market in the coming years.
Low attention and casual attitude
The damages caused due to historical disasters are not known specifically. Further, the means to calculate risks related to future high-impact events is limited. This makes disaster management a low-priority task for organizations. There is a comprehensive need to increase awareness levels regarding risk mitigation. These factors will restrict the incident and emergency management market growth during the forecast period.
Incident and Emergency Management Market Share
Based on type, the mass notification system is expected to provide huge opportunities for growth in the incident and emergency management market share as it is a crucial alert system through email, texts, and mobile app notifications which provide speedy evacuation and quick relief response.
Based on region, North America is expected to dominate in the incident and emergency management market share due to the increasing focus on disaster management. However, the Asia-Pacific will grow the fastest due to growing expenditure and adoption of emergency management services.
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By Type
Mass Notification System
Disaster Recovery System
Surveillance System
Safety Management System
Transportation Management System
By Application
Aerospace
Banking
Financial Services & Insurance (BFSI)
Government
Utilities
Retail
Manufacturing
Hospitals
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
By Company
Rockwell Collins
Honeywell International
Siemens
Lockheed Martin Corporation
Motorola Solutions
SIMILAR REPORTS
https://reports.valuates.com/market-reports/QYRE-Auto-7G9606/global-crisis-emergency-and-incident-management-platforms
https://reports.valuates.com/market-reports/QYRE-Auto-6J6389/global-facility-operations-and-security-management
https://reports.valuates.com/market-reports/QYRE-Auto-13K6174/global-disaster-management
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