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Incident and Emergency Management Market Overview
The global incident and emergency management market is projected to witness considerable growth during the forecast period (2020–2030).This can be attributed to the increasing requirement for security and safety solutions, owing to the strict regulations for public safety, rising cases of natural calamities and terrorist attacks, rise in economic loss due to natural hazards, and requirement of emergency preparedness.
The incident and emergency management market on the basis of component is categorized into solutions, communication systems, and services. Among these, the solution category dominated the market during the historical period (2014–2019). Companies in the market are deploying several solutions to decrease the loss during the occurrence of any man-made or natural disaster. Owing to these attributes, the solution category is projected to hold the largest share during the forecast period as well.
The solution category is further classified emergency/mass notification system, web-based emergency management system, perimeter intrusion detection, disaster recovery and business continuity, fire and hazardous materials (HAZMAT), and geospatial. Among these, the fire and HAZMAT solutions category is projected to hold significant share in the market in 2030. These solutions help in spotting and accessing biological, chemical, nuclear, explosive, and radiological materials. The offered devices are also used to monitor hazardous material in public places and if found potential threats, then send alerts to emergency operations centers (EOCs).
Among all regions, North America held the largest revenue share in the incident and emergency management market in 2019. With the strategies of developed countries, such as the U.S. and Canada, the region majorly focuses on research and development of new technologies in order to remain prepared for the emergency raised due natural calamities and terrorist attacks. Furthermore, the U.S. is extremely vulnerable to natural disasters. Majority of the states are exposed to one or more hazards, such as hurricanes, droughts, earthquakes, floods, tornadoes, landslides, tsunamis, wildfires, and volcanoes. For example, in 2017, three severe hurricanes destroyed large parts of the country. Owing to such factors, the requirement of implementing incident and emergency management solutions in the region is high, further benefiting the growth of the incident and emergency management market.
However, Asia-Pacific (APAC) is expected to be the fastest-growing region during the forecast period. This can be majorly due to increasing government investments on incident and emergency management systems to minimize the effects of disasters. Up surged biohazards and terror attacks have led the region to adopt advanced technological substitutes. Furthermore, the governments of several countries, such as China and India, have also significantly capitalized in training their special army soldiers to deal with such incidents. Such factors are boosting the growth of APAC region in the incident and emergency management market.
Incident and Emergency Management Market Dynamics
Rise in economic loss due to natural hazards is one of the major factors driving the growth of the incident and emergency management market. Climate change has significantly up surged the intensity of natural disasters, which, in turn, results increasing economic damages. For example, in 2019, direct economic damages and losses from natural disasters were valued at around $230 billion, globally. Though, the losses incurred in 2019 were lesser than that of in 2017 (nearly $475 billion), it is the fourth consecutive year when losses occurred due to natural disasters crossed the $200 billion threshold.
Geographically, APAC registered the largest damage due to natural catastrophe. The region had total economic loss of roughly $107 billion in 2019. From 2010, it was the fifth time the region crossed the $100 billion threshold. Thus, the rising natural hazards and related economic loses are boosting the incident and emergency management market across the globe.
Emergence of technological advancements in the incident and emergency management market is creating lucrative opportunities for the players in the market. Internet of things (IoT), artificial intelligence (AI), and blockchain, among others, offer the potential to transmit, generate, and read data related to emergencies for better decision making in crisis. In incident and emergency management, AI can help forecast, assess, and simulate incidents to improve response times and rationalize resource-dispatch procedures. For instance, the City of San Francisco, City of Los Angeles, and several San Mateo County cities are deploying the One Concern platform (offered by One Concern Inc.), which employs AI through analytical disaster assessment and calculated damage estimates. Thus, the emergence of technological advancements is offering numerous opportunities for the incident and emergency management market players.
Incident and Emergency Management Market Competitive Landscape
Some of the major players operating in the global incident and emergency management market are Lockheed Martin Corporation, Honeywell International Inc., Siemens AG, Motorola Solutions Inc., Rockwell Collins Inc., NEC Corporation, Hexagon AB, IBM Corporation, MissionMode Solutions Inc., Environment System Research Institute Inc. (Esri), Everbridge Inc., Alert Technologies Corporation, Juvare LLC, The Response Group LLC, Grey Wall Software LLC (Veoci), Haystax Technology Inc., LogicGate Inc., and MetricStream Inc.
The report covers country-wise incident and emergency management market analysis. Major countries covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, South Korea, Australia, India, Brazil, Mexico, Saudi Arabia, the U.A.E., and South Africa.
Market Size Breakdown by Segment
The incident and emergency management market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Component
Based on Simulation
Based on Vertical