Incident and Emergency Management Market Worth 114.01 Billion USD by 2021
PUNE, India, October 3, 2016 /PRNewswire/ --
According to a new market research report "Incident and Emergency Management Market by System and Solution (Web-Based Emergency Management, Mass Notification), Professional Service, Simulation, Communication Tool and Device, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is expected to grow from USD 88.58 Billion in 2016 to USD 114.01 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.
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Browse 127 market data Tables and 52 Figures spread through 200 Pages and in-depth TOC on "Incident and Emergency Management Market"
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The major drivers of this market include changing climatic conditions, increasing government regulations & norms, extensive usage of social media to spread information, and increased threats of terrorist attacks.
Mass notification system is expected to be the most promising system during the forecast period
The Incident and Emergency Management Market has been segmented into system and solutions, professional services, simulation, communication tools and devices, and verticals. The mass notification system is projected to grow at the highest CAGR during the forecast period. Mass notification system is considerably important due to growing requirement of incident information to be provided to the masses, along with the precautionary measures that should be adopted to prevent any losses from taking place.
Satellite phone as a communication device is expected to hold major market share during the forecast period
Satellite phone commands the major share of the incident and emergency management communication tools and devices. These are the most trusted communication modes as these phones are directly linked to satellites and provide seamless connectivity for voice and data transfers. Satellite communication is highly survivable, self-sufficient, and independent of terrestrial infrastructure.
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North America contributes the maximum market share in the incident and emergency management market
North America is expected to hold the largest market share and dominate the Incident and Emergency Management Market in 2016, due to the presence of robust disaster management infrastructure in the region. Latin America is estimated to grow at the highest rate during the forecast period due to the increasing expenditure by the governments for disaster and emergency management for various international events, such as Rio Olympics. Furthermore, APAC is expected to be another revenue generating market.
The major vendors covered in the Incident and Emergency Management Market for the study are Honeywell International, Inc., Siemens AG, Motorola Solutions, Lockheed Martin Corporation, Rockwell Collins, ESRI, Frequentis AG, Intergraph, Intermedix, and Metricstream.
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