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Mass Notification Systems: 2024 Market Trends and Innovations
Mass Notification System Market Industry
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According to The Business Research Company's, The mass notification system market size has grown strongly in recent years. It will grow from $8.67 billion in 2023 to $9.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising demand for public safety and security, rise in crimes and terrorist acts, high adoption of mass notification system across hospitals and medical facilities.
The mass notification system market size is expected to see strong growth in the next few years. It will grow to $12.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to surge in usage of online platforms, growing use of smartphones, rising urbanization, rise in mergers and acquisitions. Major trends in the forecast period include rise in demand for cloud-based mass notifications systems, multi-channel notifications, increased implementation of technology across mass notification systems, mass notification system manufacturers adopting iot technology, infrastructure advancements, and mass notification systems using geofencing.
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Market Drivers and Trends:
The growing use of a smartphone is driving the growth of the mass notification systems market. Smartphone refers to a handheld electronic device that will require a connection to a cellular network. Mass notification systems will send one-way messages through email, smartphones, office phones, and home phones. For instance, according to Oberlo, an extension of the Shopify platform, data 2021, smartphone usage has been expected to continue to increase in the further years, breaching seven billion in 2024 before rising further to 7.5 billion by 2026. The growing use of a smartphone will drive the growth of the mass notification system market.
Technological advancements are shaping the mass notification systems market. Many companies are adopting new technologies to provide enhanced products to their users. In October 2021, Motorola Solutions launched the first AI-enabled in-car video system for law enforcement, the M500, in Europe. The solution will bring more powerful capabilities to the police vehicle for enhancing awareness and safety while building trust and transparency throughout communities. The M500 features new backseat passenger analytics which will automatically start the in-car camera recording when an individual enters the back of a police car. The recording is automatically saved in the recording.
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Major Key Players of the Market:
Thales, Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Company, Airbus SE (Surrey Satellite Technology Ltd), L3Harris Technologies, Kepler Communications Inc., Blue Canyon Technologies Inc., Blue Origin, SpaceX, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, CASIC, Beijing Commsat Technology Development Co. Ltd, Anabond Limited, INTECH DMLS PVT LTD, Avasarala Technologies Limited, Sumeru Microwave Communications Private Limited, Telstra, Quberider Pty Ltd, Innova Space, Telespazio S.p.A., GomSpace Group AB, EnduroSat, AAC Clyde Space, OneWeb, Speedcast International Limited, Raytheon, Honeywell International Inc., Cessna, Bombardier Inc., Telesat, Amazon, Starlink satellite constellation, Hughes Network Systems, Empresa Argentina de Soluciones Satelitales AR-SAT SA, Embraer, Al Yah Satellite Communications (YAHSAT), Arabsat, Es'hailSat, QSat Communications, Saman Satellite Communications, Thuraya Satellite, DragonFly Aerospace, NETLOXH, ETSE CubeCom, Omarichet, Simera Sense
Mass Notification System Market 2024 Key Insights:
• The mass notification system market size is expected to see strong growth in the next few years. It will grow to $12.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Growing Smartphone Usage Propels Expansion Of Mass Notification Systems Market
• Ai-Enabled In-Car Video Systems For Enhanced Law Enforcement Capabilities
• North America was the largest region in the mass notification system market in 2023
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