Mass notification system is a type of software that is used for coordinating with people during rescue & relief operations during cataclysmic natural disasters.
PORTLAND, PORTLAND, OR, UNITED STATE, December 8, 2023 /EINPresswire.com/ — Mass notification system is a platform that delivers the notifications to an individual or group of people using their locations and visual intelligence. The primary goal of mass notification systems is to identify emergency and non-emergency situations in an organization for improving safety and security of the company. Numerous benefits, such as faster incident resolution and recovery by allowing the initiator to send messages to thousands of people in minimal time are some of the factors that boost the growth of the market.
According to the report, the global mass notification system market accounted for $8.05 billion in 2018, and is expected to reach $35.23 billion by 2026, growing at a CAGR of 20.3% from 2019 to 2026.
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Major driving factors:
➢ Increase in need for automate building solutions and supportive industry standards and regulations have boosted the growth of the global mass notification system market.
➢ High installation and maintenance costs impede the market growth.
➢ Increase in adoption of smart cities across developing nations is expected to create lucrative opportunities in the near future.
Based on component, the service segment is expected to manifest the highest CAGR of 22.8% during the forecast period, owing to rise in need of various different services such as managed service and professional services. However, the solution segment held the largest share in 2018, accounting for around three-fourths of the global mass notification system market. The mass notification solutions are cheaper and are faster to deploy, which drives the growth of this segment.
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Based on deployment, the cloud segment dominated the global mass notification system market in 2018, contributing to nearly three-fifths of the market, owing to the different services provided by the cloud. On the other hand, the on-premise segment is projected to portray the highest CAGR of 22.4% during the forecast period, owing to the increase in the adoption of these systems due to enhanced security features provided by the on-premise model.
Based on geography, the market across North America held the largest share in 2018, accounting for more than one-third of the total revenue, and is expected to continue its dominance throughout the forecast period. This is due to rise in investment in the emergency preparedness along with technological advancement in infrastructure technologies. On the other hand, the Asia-Pacific region is anticipated to register the fastest CAGR of 22.80% during the study period, due to continuous rise in the number of terrorist attacks and natural calamities in this region. The report also analyzes regions across Europe, and LAMEA.
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Leading Market Players:
➢ Johnson Controls
➢ Honeywell International Inc
➢ IBM Corporation
➢ Siemens AG
➢ Eaton Corporation
➢ OnSolve (Ecn+ Mir3+ Sendwordnow)
➢ NetApp Inc
➢ Everbridge Inc.
➢ Metis Secure Solutions
➢ xMatters Inc
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