The incident and emergency management market is expected to grow from USD 93.44 Billion in 2018 to USD 122.94 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period.
The major drivers of the market include increasing incidents of terrorist and biohazardous attacks, and natural disasters due to ever changing climatic conditions, and stringent government regulations and norms.
Various solutions that are offered in the incident and emergency management market include geospatial solution, disaster recovery solution, and situational awareness solution. Among these solutions, the disaster recovery solution is expected to hold the largest market size as well as the fastest growing segment. The reason for this can be attributed to its rapid adoption among industries for keeping their business operations unaffected from disasters or resuming the business operations as soon as possible after being hit by a disaster.
The systems segment includes web-based emergency management system, emergency/mass notification system, surveillance system, traffic management system, inventory/database management system, safety management system, remote weather monitoring system, tsunami warning system, earthquake/seismic warning system, and the Chemical, Biological, Radiological, Nuclear, and Explosive (CBRNE)/Hazardous Materials (HAZMAT) detection system.
The emergency notification/mass notification system is expected to be the fastest growing in this marketspace, as its software allows agencies to send or receive real-time sensitive emergency message notifications in the form of texts, emails, or voice mails, before or during emergencies. The surveillance system is expected to dominate the systems segment in terms of contribution to the overall market, as it is extensively used by government organizations as well as enterprises in monitoring and providing information about real-time situations during an emergency or incident.
The incident and emergency management solution providers also offer consulting services, design and integration services, training and education services, and support and maintenance services. Among the services, the training and education services segment is expected to be growing at the highest rate. The training and education services are provided to first responders, disaster response teams, and disaster management volunteers to raise the level of preparedness and response capability, and also mitigate the damages to a property during an emergency.
The incident and emergency management market has been segmented by simulation, which has further been broken down into traffic simulation system, hazard propagation simulation tools, and incident and evacuation simulation tools. The communication tools and devices segmentation has been categorized into first responder tools, satellite phones, and vehicle-ready gateways (cellular/GPS/Wi-Fi). Among these, the first responder tools segment is expected to be the fastest growing, as it includes all technology devices that assist the departments and teams in providing the first action during the time of emergency.
Incident and emergency management systems, solutions, and services have been adopted by various industry verticals, including Banking, Financial Services, and Insurance (BFSI); energy and utilities; manufacturing; healthcare and life sciences; government and defense; aviation; hospitality; transportation and logistics; and telecom and IT; and others (museums, sports stadiums, and residential complexes). The telecom and IT industry vertical is expected to be fastest growing, as it is considered as an important element in the economic and social growth of a country. The loss of data and valuable information can severely hamper the operations of the telecom companies.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Incident and Emergency Management Market 4.2 Market By System, 2018-2023 4.3 Market By Solution, 2018-2023 4.4 Market By Service, 2018-2023 4.5 Market By Simulation, 2018-2023 4.6 Market By Communication Tool and Device, 2018-2023 4.7 Market By Industry Vertical, 2018-2023 4.8 Market By Region
5 Market Overview 5.1 Market Dynamics 5.1.1 Drivers 18.104.22.168 Rising Terrorist and Biohazardous Attacks 22.214.171.124 Occurrence of Unpredictable Natural Disasters Due to the Ever-Changing Climatic Conditions 126.96.36.199 Increase in Government Regulations and Norms 188.8.131.52 Need to Avoid the Huge Monetary Losses Due to Disasters 5.1.2 Restraints 184.108.40.206 Incident and Emergency Management is Often Prioritized Low Due to Political Factors 5.1.3 Opportunities 220.127.116.11 Upgradation of the Outdated Incident and Emergency Management Infrastructure 18.104.22.168 Increased Use of Social Media to Alert the Public About Incidents and Emergencies 22.214.171.124 Increased Government Expenditure on Emergency and Disaster Management Solutions 126.96.36.199 Advancements in Emergency Management Technologies 5.1.4 Challenges 188.8.131.52 Disconnection Between the Disaster Risk Reduction Policy and the Emergency Management in Practice 184.108.40.206 Hardware Infrastructure is Prone to A Single Point of Failure 5.2 Use Cases 5.2.1 Emergency Management Solution Used By the Government to Provide Incident Planning and Response Capabilities 5.2.2 an Intelligent Disaster Recovery Solution in the Healthcare Industry 5.2.3 The Aviation Industry is Using Incident Management and Emergency Response Systems 5.2.4 Emergency and Incident Management in the Hospitality Industry 5.2.5 Mass Notification Tool Manages Business Interruptions in an Insurance Company 5.2.6 Rapid Adoption of Emergency Management Solutions Among Government Organizations to Provide Robust Public Safety and Security 5.3 Innovation Spotlight
6 Incident and Emergency Management Market, By System 6.1 Introduction 6.2 Web-Based Emergency Management System 6.3 Emergency/Mass Notification System 6.4 Surveillance System 6.5 Traffic Management System 6.6 Inventory/Database Management System 6.7 Safety Management System 6.8 Remote Weather Monitoring System 6.9 Tsunami Warning System 6.10 Earthquake/Seismic Warning System 6.11 Cbrne/Hazmat Detection System
8 Market By Service 8.1 Introduction 8.2 Consulting Services 8.3 Design and Integration Services 8.4 Training and Education Services 8.5 Support and Maintenance Services
9 Market By Simulation 9.1 Introduction 9.2 Traffic Simulation Systems 9.3 Hazard Propagation Simulation Tools 9.4 Incident and Evacuation Simulation Tools
10 Incident and Emergency Management Market, By Communication Tool and Device 10.1 Introduction 10.2 First Responder Tools 10.3 Satellite Phones 10.4 Vehicle-Ready Gateways
11 Market By Industry Vertical 11.1 Introduction 11.2 Banking, Financial Services, and Insurance 11.3 Energy and Utilities 11.4 Manufacturing 11.5 Healthcare and Life Sciences 11.6 Government and Defense 11.7 Aviation 11.8 Hospitality 11.9 Transportation and Logistics 11.10 Telecom and IT 11.11 Others
12 Incident and Emergency Management Market, By Region 12.1 Introduction 12.2 North America 12.3 Europe 12.4 Asia Pacific 12.5 Middle East and Africa 12.6 Latin America
13 Competitive Landscape 13.1 Overview 13.2 Market Ranking 13.3 Competitive Scenario 13.3.1 Partnerships, Agreements, and Collaborations 13.3.2 New Product Launches 13.3.3 Mergers and Acquisitions 13.3.4 Business Expansions
14 Company Profiles 14.1 IBM 14.2 NEC Corporation 14.3 Hexagon 14.4 ESRI 14.5 NC4 14.6 Intermedix Corporation 14.7 Eccentex 14.8 The Response Group (TRG) 14.9 Haystax Technology 14.10 Alert Technologies 14.11 Crisisworks 14.12 Emergeo 14.13 Veoci 14.14 Missionmode