Incident and Emergency Management Market Reach USD 423.32 Billion by 2025 |Top Players such as – NEC, Rockwell & Siemens
Factors driving growth of market are increase in economic loss from natural disasters & implementation of governmental policies to reduce such circumstances.
PORTLAND, PORTLAND, OR, UNITED STATE, April 21, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Incident and Emergency Management Market Reach USD 423.32 Billion by 2025 |Top Players such as – NEC, Rockwell & Siemens.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global incident and emergency management market was valued at USD 75,464 million in 2017, and is projected to reach USD 423,323 million by 2025, registering a CAGR of 24.2% from 2018 to 2025.
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Rise in need for safety and security solutions, owing to increase in natural calamities & terrorist attacks, implementation of regulatory policies for public safety, and necessity of emergency preparedness drive the growth of the global incident and emergency management market. In addition, surge in smart cities is expected to drive the adoption of intelligent evacuation systems and surveillance systems, thereby fueling the incident and emergency management market growth. Moreover, use of technologically advanced equipment for terror attacks is expected to fuel the need for incident and emergency systems.
The global incident and emergency management market is segmented on the basis of system type, communication technology, service, solution, industry vertical, and region. Based on system type, the market is divided into mass notification system, surveillance system, traffic management system, safety management system, earthquake/ seismic warning system, disaster recovery & backup systems, and others. Depending on communication technology, it is segregated into first responder tools, satellite phones, emergency response radars, vehicle-ready gateways, and others.
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The global incident and emergency management market was led by the energy & utilities segment in 2017, and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth, owing to increase in adoption of incident and emergency management systems for patient safety.
By service, it is fragmented into training & education services, consulting services, design & integration services, and support & maintenance services. As per solution, it is divided into geospatial solutions, disaster recovery solutions, and situational awareness solutions. According to industry vertical, it is categorized into BFSI, energy & utilities, manufacturing, healthcare, aerospace & defense, public sector, transportation & logistics, telecom & IT, and others.
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Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe would continue to dominate the market through 2025 with more than one-third of the global share. Meanwhile, Asia-Pacific would witness the highest CAGR of 27.2% during the forecast period.
The key players analyzed in the report include Esri Inc., Honeywell International Inc., IBM Corporation, Intergraph Corporation, Intermedix Corporation, Lockheed Martin Corporation, Motorola Solutions, Inc., NEC Corporation, Rockwell Collins, and Siemens AG.
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Top Impacting Factors:
● Rise in Economic loss due to natural disasters
● Increase in Terrorist Attacks
● Government Policies Toward Incident and Emergency Preparedness
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