The Incident and Emergency Management Market is expected to grow at approximately USD 115 Billion by 2023, at 5% of CAGR between 2018 and 2023. The rising terror attacks and unpredictable natural calamities occurrence are the key factor driving the incident and emergency management market. Government initiatives in reducing this harmful activity is playing key role in incident and emergency management market
The increasing product and solution technology in preventing enterprise valuable assets is expected to grow rapidly. While there are some restraints, which may hamper the market includes lack of awareness about the benefits of this system is affecting the market growth.
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The prominent players in the incident and emergency management market-Honeywell International Inc. (U.S.), Siemens Ag (U.S.), Motorola Solutions, Inc. (U.S.), Lockheed Martin (U.S.), Rockwell Collins, Inc. (U.S.), Frequentis (Austria), Intergraph Corporation (U.S.), Esri (U.S.), Metricstream (U.S.), Intermedix Corporation (U.S.), among others.
Market Research Future (MRFR) has published a research report that predicts growth for the global incident and emergency management market with 5% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, the market is expected to grow by the US $ 115 bn by the end of the forecast period. In the incident and emergency management market, a group of people share the information, coordinate and communicate in the occurrence of an event or incident and emergency situation
Analyzing the market structure, this report evaluates the future growth potential and observes the strategies of the key players in this market. It also tracks the competitive developments such as joint ventures, mergers, and acquisitions, new product developments, new product developments (R & D) in the market. Satellite phone as a communication device commands the largest market share. This study also expects the increasing product and solution technology in preventing valuable enterprise assets to grow rapidly. Meanwhile, restraints like lack of awareness about the benefits of this system can hamper the market growth. The key factors that are driving the growth of this market include the rising terror attacks, unpredictable natural calamities, and government initiatives to reduce these harmful activities.
Then global incident and emergency management market has been segmented on the basis of communication tool & device, professional service, simulation, solution, system, vertical, and lastly region. The communication tool & device segment has been further segmented into emergency response radar, first responder tool, professional service, satellite phone, and vehicle ready gateway (cellular/Global Positioning System (GPS)/Wi-Fi). On the basis of professional service, this market has been segmented into consulting, emergency operation center (EOC) design and integration, public information services and training.
The simulation-based segmentation of the market covers hazard propagation simulation tool, incident and evaluation simulation tool, and traffic simulation system. On the basis of the solution, the market has been segmented into Chemical, biological, radiological and nuclear defense (CBRNE)/hazardous materials (HAZMAT) solution, disaster recovery solution, geospatial technology solution, situational awareness solution.
The system-based segmentation covers application system, emergency notification system/mass notification system, surveillance system, and a web-based emergency management system. The vertical segment has been sub-segmented into aviation, banking, financial services and insurance (BFSI), energy & utilities, government & defense, healthcare & life sciences, hospitality IT & telecommunication, manufacturing, transportation & logistics, and others.
Latest Industry News
- 22 AUG 2018: A federal appeals court has struck down the Environmental Protection Agency’s latest attempt to delay the Obama-era Chemical Disaster Rule.
- 23 AUG 2018: More than 500 personnel from 20 agencies participated in a major exercise to test Sydney’s response to a flight disaster at Sydney Airport.
The regional segmentation of the global incident and emergency management market segments the market into regional markets namely North America, Asia Pacific, Europe, Latin America, Middle East & Africa (MEA). Due to increasing terror attacks, the presence of key market players, and natural disasters, the market is growing in the North America region. The government has invested in the incident and emergency management owing to the occurrence of many international events such as the Syria war. Most of the key players in the market are based in the United States of America (USA).
During the forecast period, Asia Pacific is expected to emerge as the fastest growing market. In this region, factors that are driving the market include the increasing adoption of incident and emergency management techniques. In Japan, children are trained to deal with disaster management at the school level, and they learn the basic tips on how to react during a disaster situation, especially earthquakes and tsunamis.
In Europe, the investment in incident & emergency management started at a high level after the 7/7 bomb blasts of 2005 in the United Kingdom (UK). It grew significantly after the 2010 volcano eruption in Eyjafjallajökull region of Ireland. The MEA region is a small market due to lack of awareness, lack of education and lack of technological development.
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
LIST OF TABLES
Table 1 Incident And Emergency Management Market, By Solution
Table 2 Incident And Emergency Management Market, By System
Table 3 Incident And Emergency Management Market, By Professional Service
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Incident And Emergency Management Market: By Solution (%)
Figure 3 Incident And Emergency Management Market: By System (%)
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