“Increasing incidents of natural disasters are expected to drive the incident and emergency management market”
The incident and emergency management market size 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 incident and emergency management market is driven by many factors, such as rising terrorist and biohazardous attacks, increasing incidents of natural disasters, stringent government regulations and norms, and a need to avoid the huge monetary losses due to disasters. Furthermore, disconnection between the disaster risk reduction policy and the emergency management practice and hardware infrastructure is prone to a single point of failure are the biggest challenges for the incident and emergency management system, solution, and service providers.
“The surveillance system is estimated to have the largest market share in the incident and emergency management market in 2018”
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.
“Government and defense industry vertical is expected to hold the largest market share in the incident and emergency management market during the forecast period”
Government and defense industry vertical is expected to hold the largest market share in the incident and emergency management market during the forecast period. Government organizations act as first responders during an emergency or critical incident, and thus employ all kinds of advanced incident and emergency management systems and tools.
“APAC is expected to record the highest growth rate during the forecast period”
Asia Pacific (APAC) includes major economies, such as India and China, which are rapidly deploying incident and emergency management systems, solutions, and services. This is mainly due to an increased need to secure people from natural and manmade disasters. APAC is expected to grow at the highest CAGR during the forecast period. Furthermore, North America is projected to have the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the incident and emergency management marketspace.
- By company type: Tier 1: 34%, Tier 2: 26%, and Tier 3: 40%
- By designation: C-Level: 64%, Director Level: 24, Manager Level: 12%
- By region: North America: 28%, Europe: 23%, APAC: 36%, and RoW: 13%
The major incident and emergency management 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). The report includes in-depth competitive analysis of these key players in the incident and emergency management market, with their company profiles, recent developments, and key market strategies.
The report covers the incident and emergency management market by different segments. It aims at estimating the market size and the future growth potential of this market, across different segments, such as system, solution, service, simulation, communication tool and device, industry vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall incident and emergency management market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.