The report, now available on ASDReports, "Incident and Emergency Management Market by System (Web-Based Emergency Management, Mass Notification, Surveillance System, Safety Management), Solution, Service, Simulation, Communication Tool and Device, Industry Vertical, and Region - Global Forecast to 2023", 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. Increasing incidents pf terrorist and biohazardous attacks, and unpredictable natural disasters due to ever changing climatic conditions, and stringent government regulations and norms are expected to drive the market.
Emergency/mass notification system is expected to grow at the highest CAGR during the forecast period
The incident and emergency management market by system 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 CBRNE/HAZMAT detection system. Among various systems, the emergency/mass notification system is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing adoption of emergency/mass notification system by enterprises to send or receive real-time sensitive emergency message notifications in the form of texts, emails, or voicemails, before or during emergencies.
The telecom and IT industry vertical is expected to grow at the highest CAGR in the incident and emergency management market during the forecast period
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. Thus, there is a huge need to protect such data and information.
North America is expected to hold the largest market share in the incident and emergency management market during the forecast period
North America is expected to have the largest market share and dominate the incident and emergency management market from 2018 to 2023, due to the presence of major incident and emergency management solution vendors and Managed Security Service Providers (MSSPs). The organizations in this region are increasingly adopting advanced incident and emergency management systems, solutions, and services to protect public and assets from disasters. The other drivers for the increasing demand for incident and emergency management systems, solutions, and services include the need for regulatory compliance and to avoid huge monetary losses due to disasters.
The major incident and emeregency vendors include IBM (US), NEC Corporation (Japan), Hexagon (Sweden), Esri (US), NC4 (US), Intermedix Corporation (US), Eccentex (US), The Response Group (US), Haystax Technology (US), Alert Technologies (US), Crisisworks (US), EmerGeo (US), Veoci (US), and MissionMode (US).