Incident and Emergency Management Market to Reach $423,323 Million, Globally, by 2025 at 24.2% CAGR

WILMINGTON, DE, UNITED STATES, April 23, 2024 /EINPresswire.com/ — The global incident and emergency management market was valued at $75,464 million in 2017, and is projected to reach at $423,323 million by 2025, growing at a CAGR of 24.2% from 2018 to 2025.

Increased market for smart cities is expected to drive the adoption of intelligent evacuation systems and surveillance systems thereby fueling the demand for incident and emergency management market growth. Also, emergency response radars segment is expected to grow at a highest CAGR during the forecast period, due to upsurge in adoption, as they offer numerous benefits such as wider geographical coverage, cost-effectiveness, and repetitive coverage even in extreme weather conditions.

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The global incident and emergency management market is being propelled by several key factors, including the escalation of economic losses caused by natural disasters, the surge in terrorist activities, and governmental regulations aimed at enhancing public safety. Despite these driving forces, the market growth is hindered by the substantial costs associated with installation and maintenance.

Among the various system types, the surveillance system segment emerged as the dominant force in the global incident and emergency management market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This is primarily attributed to the rising adoption of security devices for efficient incident reporting and management.

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The disaster recovery and backup system segment is poised to exhibit the highest compound annual growth rate (CAGR) during the forecast period. This surge in growth is fueled by the increasing demand for robust recovery solutions to safeguard critical data across businesses and other organizations, thereby ensuring continuity in operations even amidst unforeseen disruptions.

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.

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In 2017, the global incident and emergency management market was dominated by the situational awareness segment and is expected to maintain this trend during the forecast period. Owing to rise in demand for situational awareness platforms to address emergency situations in security, safety, and operations practices.

Some of the key incident and emergency management market players profiled 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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