(MENAFN- Ameliorate Digital Consultancy)
According to estimates, demand for crisis, emergency, and incident management platforms market will grow over time due to an increase in the demand for safety and security solutions, an increase in terrorist attacks and natural disasters, the implementation of regulatory laws for public safety, and the importance of emergency preparedness.
The most recent update from Persistence Market Research provides in-depth information on market dynamics, value (US$ Bn) forecasts, and recent developments for the forecast period to 2031.
The report tracks global value of crisis, emergency, and incident management platforms in 10+ high-growth markets, with the regions of North America, Europe, and Asia offering the most opportunities to stakeholders. The report also analyzes the impact COVID-19 has had on the economy in general, and on demand for crisis, emergency, and incident management platforms in particular.
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How will Technological Advancements Impact Demand for Crisis, Emergency, and Incident Management Platforms?
The market is flooded with advanced software and mobile apps that can minimize the aftermath of a man-made or natural disaster. Government regulations are continuously evolving, and these are needed to be followed strictly by both, people and organizations such as fire department, emergency medical services, healthcare organizations, police departments, non-governmental organizations, and businesses.
These changes have been taken into consideration to respond to increasing number of terrorist attacks, criminal activities, and natural disasters. Many developing and developed countries are also upgrading their services to technologically advanced emergency management services and solutions.
During certain circumstances when each penny is worth more than a dollar, corporations are constrained towards quick implementation of economic crisis, emergency, and incident management platforms.
Emerging technologies are creating greater opportunities to make crisis, emergency and incident management platforms more intelligent, secure, and effective. Today, technologies such as artificial intelligence, blockchain, and IoT (Internet of Things) are creating potential opportunities to generate, transmit, and read emergency-related data for better decision-making in crises.
Will Government Initiatives Emphasizing on Public and Environmental Safety Aid Market Growth?
Crisis, emergency, and incident management platforms is a new concept entering the disaster and emergency sector, which function as security measure against potential disruption, in order to plan incident response. Increasing threat levels related to terrorism, biological hazards, and government initiatives toward public safety are major drivers for market growth.
Increase in demand for digitalization, social media surfing, Internet, and mobile usage, and increasing security breaches are driving factors for the market. Crisis, emergency, and incident management platforms need to address the sharing of information across stakeholders and emergency agencies involved in response and recovery.
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Will Critical Need to Remain Prepared Against Sudden Attacks Drive Market Growth?
Generally, terrorists tend to aim at places where there are large gatherings of people to create fear and chaos. Leading providers of crisis, emergency, and incident management platforms are focusing on entering a wide variety of organizations, and communication professionals need to be prepared for this eventuality and prospects.
Once the crisis is passed, the communication does not stop. There could be an ongoing requirement to continue messaging, which could include new security measures, staff well-being, and construction. These factors are estimated to amplify demand for crisis, emergency and incident management platforms over the forecast period.
Competition Landscape
Persistence Market Research has profiled the following prominent crisis, emergency, and incident management platform providers in its report:
Honeywell International Inc. Lockheed Martin Corporation Motorola Solution Inc. Collins Aerospace Siemens AG Johnson Controls Iridium Communication Inc. Guardly Corp. Environmental System Research Institute, Inc. Intergraph Corporation NEC Corporation Alert Technologies Eaton The Response Group Singlewire Software
These above-mentioned players rely on various expansion strategies to make their presence felt across lucrative markets. These strategies include collaboration with key players, product launches, acquisitions, partnerships, and enhancement of distribution networks at regional and global levels.
For instance, in December 2019, Honeywell acquired Rebellion Photonics, a Houston-based provider of innovative, intelligent, visual gas monitoring solutions that maximize safety, operational performance, emissions mitigation, and compliance in oil & gas, petrochemical, and power industries. In December 2020, Lockheed Martin Corporation announced it has entered into a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc. This transaction enhanced Lockheed Martin's support of critical U.S. and allied security missions, and retains its national leadership in space and hypersonic technology. Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for its customers and American
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Key Market Segments Covered
Component
Systems and Platforms Emergency/Mass Notification Systems Surveillance Systems Fire and HAZMAT Solutions Traffic Management Systems Safety Management Systems Earthquake/Seismic Warning Systems Disaster Recovery and Backup Systems Others
Services Consulting Emergency Operation Center (EOC) Design and Integration Training and Simulation Public Information Services
Communication Technology
First Responders Satellite Phones Vehicle-ready Gateways Emergency Response Radars
Vertical
BFSI Energy and Utility Healthcare and Life Science Government and Defense Aviation Transportation and Logistics Telecom and IT Others
Region
North America Latin America Europe East Asia South Asia & Pacific Middle East & Africa (MEA)
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