Incident and Emergency Management Market
Research Report- Forecast till 2023
Market Highlights
The growth prospects of the incident and emergency management market 2020
seem considerably high as it can reach an approximate valuation of USD 115
Billion by 2023, reports Market Research Future (MRFR). The market expansion is
set to be at a rate of 5% between 2017 and 2023 (which is the review period).
Top Drivers and Main Restraints
It is impossible to prevent natural disasters by mere human efforts,
however incident and emergency management is the best option for limiting any
type of loss after such an event. This holds true since incident and emergency
management helps the personnel prepared to tackle these kinds of events
effectively and systematically, resulting in less panic among civilians.
Incident and emergency management market component types such as solutions
including HAZMAT, perimeter intrusion detection, and emergency/mass
notification system are observing huge demand across a broad range of
industries, which can mean bright future prospects.
The market’s tremendous growth pace is also the result of the rapid
formation of stringent government regulations all over the world. Countries
across the globe are enforcing strict rules that pertain to disaster management
policies, with the aim to ensure the readiness of the organizations during
untoward events. A majority of enterprises provide training to their employees,
boosting the awareness with regard to incidents like fire as well as natural
disaster among others. Companies are also installing a vast array of safety
devices to mitigate such hazards. All these efforts by government and organizations
can translate to considerable growth for the incident and emergency management
industry during the evaluation period.
The world today is not safe from various terrorist attacks, which forces
government authorities to impose stricter and more advanced incident and
emergency management systems. Various countries like India, France and the U.K
have formed special military groups to handle these incidents, whereas
organizations are using the services of professional agencies to train their
employees about the procedures needed to be followed.
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Segmentation:
The primary segments listed in the report are solution, system,
professional service, simulation, communication tool and device as well as
industry vertical.
The solution types covered are CBRNE/hazmat solution, Geospatial technology
solution, situational awareness solution and disaster recovery solution.
System-wise market segments are emergency notification system/mass
notification system, web based emergency management system, application system
and surveillance system.
The professional services available in the market are emergency operation
center (EOC), consulting, training, public information service and design and
integration.
Simulation-dependent segments are incident and evaluation simulation tool,
hazard propagation simulation tool, traffic simulation system, and others.
The market segmentation, with respect to communication tool and device,
comprises satellite phone, first responder tool, emergency response radar and
vehicle-ready gateway (GPS/ Cellular/Wi-Fi).
Industry vertical making extensive use of incident and emergency management
services are government and defense, IT & telecommunication, transportation
and logistics, energy and utilities, BFSI, hospitality, manufacturing,
aviation, healthcare and life-science, among others.
Regional Study
The regional study of the market for incident and emergency management
includes Asia Pacific or APAC, Europe, North America, and the Rest of the World
or RoW.
Taking into account the increasing pace of natural disasters along with the
surge in terrorist attacks, the North American market for incident and
emergency management can note emergence of profitable opportunities in the
approaching years. The rapid increase in smart cities also boosts the demand
for intelligent surveillance and evacuation systems, which boosts the growth of
the regional industry. The government in the U.S. and Canada are increasingly
installing massive number of CCTV cameras to ensure safety of the public, which
is yet another factor that promotes the market growth for incident and
emergency management in the region.
The APAC market can record the fastest expansion rate in the years ahead,
on account of the growth in natural disasters like earthquakes, tsunamis,
cyclones, as well as surge in terrorist attacks. The market also observes
frequent technological advancements, and a rise in the number of strict
regulations enforced by the government, which compels organizations to deploy
the best-in-class mechanics for disaster management. Japan, India and China are
undoubtedly the biggest gainers in the regional market for incident and
emergency management. India is projected to spend close to USD 120 billion in
the improvement of airport infrastructure as well as aviation navigation
services in the next decade, making it a country with high growth potential in
the regional market.
Significant Participants
Significant industry participants are Metricstream (U.S.), Motorola
Solutions, Inc. (U.S.), Frequentis (Austria), Siemens AG (U.S.), Rockwell
Collins Inc. (U.S.), Honeywell International Inc. (U.S.), ESRI (U.S.),
Intergraph Corporation (U.S.), Lockheed Martin (U.S.), Intermedix Corporation
(U.S.),
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Global
Incident and Emergency Management Market, By Solution (Geospatial Technology
Solution, CBRNE/Hazmat Solution, Situational Awareness Solution), By System
(Simulation Systems), By Professional Service (Training, Consultant), -
Forecast 2027
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