1. Business

Incident and Emergency Management Market worth US$ 186.7 Billion 2029 with a CAGR of 5.3 %

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The report  Incident and Emergency Management Market, by System (Web-Based Emergency Management System, Emergency/Mass Notification System, Surveillance System, Traffic Management System, Inventory/Database Management System, Safety Management System, Remote Weather Monitoring System, and Others (Tsunami Warning System, Earthquake/Seismic Warning System, and CBRNE/HAZMAT Detection System)), by Solution (Geospatial Solution, Disaster Recovery Solution, and Situational Awareness Solution), by Service (Consulting, Emergency Operation Center (EOC) Design And Integration, Training, and Public Information Services), by Communication Tool and Device (First Responder Tools, Satellite Phones, and Vehicle-Ready Gateways), by Vertical (Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, Manufacturing, Healthcare and Life Sciences, Government and Defense, Aviation, Hospitality, Transportation and Logistics, IT and Telecom, and Others (Museums, Sports Stadiums, and Residential Complexes)), and Region – Global Forecast to 2029″ Global incident and emergency management market is projected to grow from US$ 117.2 billion in 2020 to US$ 186.7 billion by 2029. The global incident and emergency management market is expected to register moderate growth over the forecast period. This is attributed to increasing biohazardous, terrorist attacks, and occurrence of unpredictable natural disasters, owing to ever-changing climatic conditions.

Increasing upgradation of the outdated incident and emergency management infrastructure and advancements in emergency management technologies is factor expected to create lucrative growth opportunities for new as well as existing players to gain competitive edge.

Key Highlights:

  • On January 14, 2019, ARCOS, Inc. launched “Incident Manager Software” to help utilities and other industries automatically plan for and respond to emergencies from storms to security infringement.
  • In May 2018, Incident Management Solutions Inc had launched mass severe incident alert system.

Key Market Insights from the report:          

The global incident and emergency management market accounted for US$ 117.2 billion in 2020 and is projected to register a moderate CAGR of 5.3 % over the forecast period. The market report has been segmented on the basis of system, solution, services, communication tool and device, vertical, and region.

  • By System, the emergency/mass notification system is segment accounted for major revenue share in 2019, owing to rising adoption of emergency/mass notification system by enterprises to send or receive actual-time emergency message notifications in the form of texts, emails, or voicemails before or during emergencies.
  • By solution, the global incident and emergency management market is bifurcated into geospatial solution, disaster recovery solution, and situational awareness solution.
  • By service, the global incident and emergency management market is consulting, emergency operation center (eoc) design and integration, training, and public information services.
  • By communication tool and device, the global incident and emergency management market is classified into first responder tools, satellite phones, and vehicle-ready gateways.
  • By vertical segmentation, the IT and telecom issegment accounted for major revenue share in 2019, owing to it is considered as important factor for economic and social growth of a country.
  • By region, North America incident and emergency management marketis accounted for major revenue share of the global incident and emergency management market and is further anticipated to maintain its dominance over the forecast period, owing to high focus on innovations obtained from Research and Development (R&D), and technology in the countries such as U.S. and Canada. The Asia Pacific incident and emergency management market is expected to be the fastest-growing region in the incident and emergency management market in 2019.

The prominent player operating in the global incident and emergency management market includes include International Business Machines Corporation, Incident Management Solutions Inc, NEC Corporation, ARCOS, Inc., Hexagon AB (publ), Environmental Systems Research Institute, Inc, NC4, Inc., Intermedix Corporation, Eccentex Corporation, TRG The Response Group LLC, Haystax Technology, Inc., Alert Technologies Inc., EmerGeo Solutions Worldwide Inc., Veloci Corporation, and MissionMode Solutions, Inc.

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