Mass Notification System Market to Reach USD 35.23 Billion at 20.3% of CAGR, Estimated to Observe Significant Growth with top Market Players: XMatters, Siemens AG, Everbridge, Inc., Johnson Controls

A mass notification system is a platform designed to transmit notifications to individuals or groups based on their locations and visual intelligence. The main objective of these systems is to recognize both emergency and non-emergency situations within an organization to enhance overall safety and security. The market for mass notification systems experiences growth due to various advantages, including the ability to achieve quicker incident resolution and recovery. This is achieved by enabling the initiator to send messages to thousands of individuals in a minimal amount of time.

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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Major driving factors:

➢ Increase in need for automate building solutions and supportive industry standards and regulations have boosted the growth of the global mass notification system market.

➢ High installation and maintenance costs impede the market growth.

➢ Increase in adoption of smart cities across developing nations is expected to create lucrative opportunities in the near future.

The forecast period is anticipated to witness the highest Compound Annual Growth Rate (CAGR) of 22.8% in the service segment, primarily attributed to an increased demand for diverse services, including managed services and professional services. Nevertheless, in 2018, the solution segment dominated the global mass notification system market, constituting approximately three-fourths of the market share. This prominence is attributed to the cost-effectiveness and rapid deployment capabilities of mass notification solutions, which contribute to the significant growth of this segment.

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In 2018, the global mass notification system market was predominantly led by the cloud segment in terms of deployment, contributing to nearly three-fifths of the market. This dominance was attributed to the diverse services offered by cloud-based solutions. Conversely, the on-premise segment is expected to exhibit the highest Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period. This growth is fueled by the increasing adoption of on-premise systems, driven by the enhanced security features inherent in this deployment model.

Regarding geographical distribution, North America secured the largest market share in 2018, representing over one-third of the total revenue. This trend is anticipated to persist throughout the forecast period, propelled by increased investments in emergency preparedness and advancements in infrastructure technologies. In contrast, the Asia-Pacific region is poised to register the fastest CAGR of 22.80% during the study period. This accelerated growth is attributed to the continuous rise in the frequency of terrorist attacks and natural disasters in the region. The report also delves into the analysis of market dynamics in Europe and LAMEA.

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The global market for mass notification systems is categorized based on component, deployment mode, organization size, type, industry vertical, and region. Regarding components, it is separated into software and services. Deployment modes include on-premise and cloud options. Organization size categorization comprises large enterprises and small & medium enterprises. Types of mass notification systems include strategic in-building solutions, wide-area solutions, and distributed recipient solutions. Industries served by this market include BFSI, energy & utilities, education, healthcare, government & defense, transportation & logistics, and others. The analysis is conducted across regions, namely North America, Europe, Asia-Pacific, and LAMEA.

The complexity of mass notification systems is heightened by additional components, contributing to increased system and overall safety system costs. Installation requires skilled professionals due to its intricacies. Additionally, the maintenance cost poses a significant challenge. Regular maintenance checks are essential to ensure system functionality and reliability. Therefore, organizations opting for pre-action protection must use the highest quality components and equipment and adhere to manufacturer recommendations, resulting in additional maintenance costs that may hinder the growth of the mass notification system market.

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Leading Market Players:

➢ Johnson Controls

➢ Honeywell International Inc

➢ IBM Corporation

➢ Siemens AG

➢ Eaton Corporation

➢ OnSolve (Ecn+ Mir3+ Sendwordnow)

➢ NetApp Inc

➢ Everbridge Inc.

➢ Metis Secure Solutions

➢ xMatters Inc

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