Incident and Emergency Management Software Market is forecast to reach $124.2 billion by 2025, growing at a CAGR 5.4% from 2020 to 2025. Factors such as increased need for security and security solutions due to increased natural disasters & terrorist attacks, implementation of public safety regulatory policies, and the need for emergency preparedness drive the growth of the global market for incident and emergency management. Additionally, the surge in smart cities is expected to drive the adoption of smart evacuation systems and surveillance systems, thus fueling market growth in the incident and emergency management. In addition, the use of technologically advanced terror-attack equipment is expected to fuel the need for emergency and incident systems.
By Solution – Segment Analysis
During the forecast period Fire and HAZMAT Solutions is expected to grow at a CAGR of 6.9%. The solution Fire and HAZMAT helps detect and assess chemical, biological, radiological, nuclear, and explosive materials. It helps first responders detect contamination caused by dangerous materials. Various companies supply devices used for the monitoring of hazardous materials in public places and send alerts to EOCs in the event of potential threats. Fire and HAZMAT solution is mainly adopted among verticals such as commercial and industrial, government and defence, energy and utilities, and healthcare. The Fire and HAZMAT solution also assists security and public organizations in bomb disposal operations in Explosive Ordnance Disposal (EOD) and Improvised Explosive Device Disposal (IEDD). The Fire and HAZMAT solution prevents any loss caused by the disaster with the help of GPS-enabled devices, wireless connectivity, man-down alarms, biometric tracking and tablet integrations.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=18643
Report Price: $ 4500 (Single User License)
By Service – Segment Analysis
The consulting service is projected to grow during the forecast period at the highest CAGR. To prepare for emergencies robust processes and planning are required. Many companies provide services for emergency planning, consultancy, and process development. These are delivered at local, state, and federal level. Companies design, develop, plan, and prepare for natural and man-made disasters, and provide end-to -end emergency management consulting services. Consulting services include consulting technology in the planning and design of emergency management infrastructure and preparedness. These services ultimately ensure greater realization of benefits, as well as enabling proactive risk management and better alignment of program goals and business objectives. Companies such as Lockheed Martin provide incident and emergency management consulting services to government organizations and enterprises.
By Geography – Segment Analysis
APAC is expected to be the fastest growing region of Incident and Emergency Management Software market with a share of more than x%. Asia-Pacific is the fastest growing region, owing to the region’s increasing disaster management, terrorist and cyber attacks. With enhanced geographic zones and a high customer base, the region is expected to show strong growth in the market. This region is the most disaster-prone region in the world and therefore disaster management is a major priority. Over the years, most countries in the region have established national authorities and systems to manage disasters that are increasingly adopting the latest technologies and solutions. The region has also witnessed a rise in the studied market software due to increased government spending on emergency and disaster management systems to safeguard people from disasters. In April 2018, the WHE / SEARO Emergency Operations (EMO) unit organized Emergency Readiness Training in India at the WHO South-East Asia Regional and Country Offices.
Drivers – Incident and Emergency Management Software Market
Rise in Economic loss due to natural disasters
Although the world has been witnessing natural disasters for centuries, their impact has actually became worse. A recent report by AON said that the world lost as much as $232 billion due to natural disasters in 2019, with India leading in victims with 1,750 deaths. According to its 2019 report, Weather, Climate Catastrophe Insight, a total of 409 natural disaster events occurred in 2019 and the monsoon floods in India were the most deadly among them, followed by cyclone Idai, which killed 1,303,300 people in South Africa and turned 2 million homeless. In 2019 there were a total of 41 disasters which cost economic losses of more than $1 billion. Increasing incidence of such disasters and rising economic loss have thus enforced the implementation of proper incident and emergency management systems by governments of various countries.
Increase in Terrorist Attacks
Over the past decade, terrorists have killed an average of 21,000 people worldwide each year. In 2018, 71 countries suffered at least one terror-related death, the second highest number since the beginning of the century. In March 2019, attacks were carried out on two mosques in Christchurch, New Zealand, where 51 people were killed as examples of terrorism spreading to countries. Over the past five years western Europe, North America and Oceania have seen an increase of 320% in attacks committed by far-right terrorists according to Global Terrorism Index 2019. Thus, the rise in terrorism fuels the need to deploy effective monitoring and notification systems for public safety. In addition, developing countries like China and India have invested heavily in upgrading their airport infrastructure which is expected to boost demand for incident and emergency management systems. India, for example, plans to invest some $120 billion over the next decade to develop airport infrastructure and aviation navigation services.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Incident and Emergency Management Software Market
Difficulty of integrating the software into their existing system infrastructure
One of the imposing post-procurement challenges buyers face in the market for incident and emergency management software is the difficulty of integrating the software into their existing system infrastructure. While investing in this software itself is a costly proposition, buyers need to upgrade their existing systems in terms of hardware and software, which is another major addition to procurement expenses. This is one of the challenges that will negatively impact the growth of incident spending and the market for emergency management software.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Incident and Emergency Management Software Market. Incident and Emergency Management Software Market is expected to be dominated by major companies such as Esri Inc., Honeywell International Inc., IBM Corporation, Intergraph Corporation, Intermedix Corporation, Lockheed Martin Corporation, Motorola Solutions, Inc., NEC Corporation, Rockwell Collins, and Siemens AG.
In May 2020, Honeywell launched a new line of production to develop disposable face masks for helping the UK government during the COVID-19 pandemic.
In March 2019, Lockheed Martin launched LTE-over-Satellite system to deliver connectivity to remote regions to help enterprises in natural disasters, such as hurricanes, wildfires, earthquakes, catastrophic floods, or volcanoes.
The rise in smart cities is expected to drive the adoption of smart evacuation and surveillance systems, thus boosting incident market growth and emergency management.
The Fire & HAZMAT solution helps detect and evaluate chemical, biological, radiological, nuclear and explosive materials. It helps first responders detect contamination resulting from dangerous materials.
APAC is expected to be the fastest growing region in terms of adopting incident- and emergency management solutions and services.
Increasing the incidence of disasters and rising economic loss have thus enforced the implementation of proper incident and emergency management systems by governments of various countries.
Related Reports :
A. Emergency Beacon Transmitter Market
B. Mass Notification Systems Market
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.