Incident and Emergency Management Market to Witness Massive Growth in the Coming Years

Incident and emergency management refers to the standardized approach, to be at times of emergency. Incident management is often performed by a dedicated team, inside an organization, who are responsible for identifying, analyzing and prevention of hazardous incidents. The team is also conferred the duty of preparing standards, which are to be followed, during such incidents. Such Incident management teams often rely on third party services and hardware for performing their duties. Emergency management can also be termed as disaster management and mostly relates to the large scale disasters, such as those caused by nature, terrorist activities and industrial accidents among others. Emergency management encompasses the procedures to be followed, on knowledge of an upcoming disaster or post a disaster. Emergency management aids in taking preventive measures for a known upcoming disaster, such as a storm or an oil spill spreading towards coast among others, and also aids in limiting further loss post a calamity. Natural disasters cannot be prevented by human efforts, but incident and emergency management strongly aids in limiting all types of losses, post such an incident. This is because incident and emergency management prepares personnel for tackling such incidents in an effective and systematic manner, leading to lesser creation of panic amongst civilians.

The incident and emergency management market is growing at a tremendous pace, owing to formation of stricter government regulations globally. Several countries have been enforcing stricter regulations, with respect to disaster management policies, to improve the readiness of each organization for such untoward incidents. Most organizations have been training their employees regarding the procedures to be followed for incidents such as fire and natural disaster among others, and also have been installing safety devices for mitigating such hazards. This in turn has been positively impacting the growth of incident and emergency management market.

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Additionally, the growing incidents of terrorism globally have forced the government authorities to enforce stricter incident and emergency management systems across the nation. Countries such as the U.K., India and France has been forming special military groups to tackle such incidents while organizations have been engaging the services of professional organizations for training their employees on the procedures to be followed, during such incidents. Furthermore, organizations have been proactively deploying incident and emergency management systems, as precautions, since such incidents act as huge setbacks for organizations, in terms of monetary and other resources. Such proactive deployment of disaster management systems has also been instrumental in boosting the growth of incident and disaster management market. However, several organizations provide low priority to incident and emergency management, and hence have either not setup such a system or has been deploying low standard systems, for meeting government regulations. This in turn has been restraining the growth of the incident and emergency management market, to some extent. Considering the growing rate of natural disasters and increasing terrorism threats, the market for incident and emergency management is expected to be offered with good growth opportunities, during the forecast period.

The global incident and emergency management market has been segmented on the basis of architecture into hardware, software and services. Hardware has been further segmented into alarms, emergency lighting, and others. Services have been sub segmented into consulting, training and others. On the basis of type, the market has been segmented into mass notification system, disaster recovery system, surveillance system, safety management system, transportation management systems and others.

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By end use, the market for incident and emergency management system has again been segmented into aerospace, banking, financial services & insurance (BFSI), government, utilities, retail, manufacturing, hospitals and healthcare and others. On the basis of regions, the market has been segmented into North America, Europe, Asia Pacific, South America and Middle-East & Africa.

The major companies of the incident and emergency management market globally are Rockwell Collins, Inc. (The U.S.), Honeywell International, Inc. (The U.S.), Siemens AG (Germany), Lockheed Martin Corporation (The U.S.), and Motorola Solutions, Inc. (The U.S.) among various other companies.

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