(MENAFN- GlobeNewsWire - Nasdaq) New Delhi, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Astute Analytica has conducted extensive research on the global mass notification systems market and concluded that it is a rapidly growing market with great potential. The North American market is the largest, accounting for about 35% of the total, followed by Europe, Asia-Pacific, and the rest of the world.
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The market is forecasted to expand in the coming years as a result of the growing need for efficient communication systems during emergency situations and the integration of Internet of Things (IoT) technology. The escalation of natural disasters and terrorist attacks has also created a greater need for mass notification systems. Furthermore, the market will see a boost from the growing usage of mass notification systems in non-emergency scenarios, such as employee communication and event coordination.
Our study believes that the mass notification market is still in its early stages of development, and there is significant room for growth. This is in line with the increasing awareness of the need for effective communication in emergencies. However, the market is highly fragmented, with the top 10 vendors accounting for less than 30% of the market. There is a significant opportunity for consolidation among vendors. The industry is capital-intensive, with high barriers to entry and exit. Vendors must make significant investments in research and development and in marketing and sales in order to compete successfully.
Top Trends Shaping the Global Mass Notification Systems Market
Increasing adoption of cloud-based systems: Cloud-based mass notification systems are becoming increasingly popular due to their scalability, flexibility, and cost-effectiveness. These systems allow organizations to easily manage and send notifications to large groups of people and can also be accessed remotely. Integration with other systems: Many mass notification systems are now being integrated with other systems, such as Building Management Systems (BMS), Public Address Systems (PA), and fire alarm systems. This allows organizations to send notifications through multiple channels, increasing the chances that the message will be received. Use of Artificial Intelligence and Machine Learning: AI and machine learning are being used to improve the accuracy and effectiveness of mass notification systems. These technologies in the global mass notification systems market are used to analyze data and improve the targeting of messages, as well as to automate the process of sending notifications. Growing demand for mobile-based systems: The increasing use of smartphones and mobile devices has led to a growing demand for mobile-based mass notification systems. These systems allow organizations to send notifications directly to people's mobile devices, increasing the chances that the message will be received. Cybersecurity concerns: As mass notification systems are becoming more sophisticated, there are concerns about the security of these systems. Organizations are increasingly looking for systems that provide robust cybersecurity features to protect against hacking and other cyber threats.
Business Continuity & Disaster Recovery to Generate Highest Revenue in Global Mass Notification Systems Market
In today's business landscape, organizations in the global market are facing an increasing number of disruptions, including natural disasters, cyberattacks, and data breaches. These events can cause significant damage to an organization's operations and reputation, making it essential for businesses to have an effective communication strategy in place. One of the most effective ways to communicate quickly and efficiently during an emergency is through a mass notification system (MNS). The demand for MNS has been on the rise, and research shows that the global mass notification systems market is expected to grow at a CAGR of 13.7% from 2023 to 2030.
MNS enables businesses to disseminate information to a large number of people quickly and through various channels, including text messages, email, phone calls, and social media. This is crucial in emergency situations where time is of the essence, and being able to reach a large number of people quickly can mean the difference between life and death. Furthermore, MNS allows businesses to customize messages and notifications based on the specific needs of the organization and its stakeholders. This level of personalization enables businesses to reach the right people with the right message at the right time.
Business continuity is another important aspect of the mass notification systems market. In the event of a disruption, businesses need to be able to quickly and efficiently communicate with employees and customers to minimize the impact on operations. MNS allows businesses to keep employees informed about the status of operations and to provide guidance on how to respond to the disruption. This helps to ensure that businesses can maintain operations and minimize the impact on customers.
The growing risk of cyberattacks and data breaches is another factor driving the demand for the mass notification systems market. As cyber threats become more sophisticated and targeted, businesses need to be able to quickly and efficiently communicate with employees and customers in the event of a security incident. MNS allows businesses to send out alerts and notifications to inform employees and customers of the incident and provide guidance on how to respond. This helps to mitigate the risk of data breaches and minimize the damage caused by cyberattacks.
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Key Findings in the Mass Notification Systems Market
The increasing frequency and severity of natural disasters is driving the demand for MNS. For example, the National Oceanic and Atmospheric Administration (NOAA) reported that there were 14 weather and climate disaster events with losses exceeding $1 billion in the U.S. in 2021. The risk of cyberattacks and data breaches is also on the rise. According to a report by Cybersecurity Ventures, the average cost of a data breach for a company is $3.86 million. Additionally, the number of data breaches and cyber incidents is expected to continue to rise in the coming years across the global mass notification systems market. Business continuity is a critical concern for organizations. Research by Astute Analytica found that the average cost of IT downtime is $5,600 per minute. Furthermore, according to a study by the Ponemon Institute, the average cost of a data center outage is $740,357. MNS allows organizations to reach a diverse group of people through a variety of channels. For example, it was found that 90% of American adults own a cell phone and 81% of them use their cell phone to go online.
Increasing Number of Consumers Opting For Cloud-Based Deployment of Mass Notification Systems
According to recent findings from Astute Analytica, the trend of cloud deployment in the global mass notification systems market is on the rise. This shift towards cloud-based MNS solutions offers a number of benefits that can help to increase the effectiveness of MNS and drive growth for businesses in the market.
One key finding from the study is that cloud deployment allows for the creation of more scalable and flexible MNS solutions. This allows manufacturers to respond more quickly to customer needs and stay ahead of the competition. Additionally, cloud deployment enables developers to offer their products as a service, which can help to increase revenue and customer loyalty.
In addition to this, the cloud deployment provides an opportunity for developers in the mass notification systems market to create innovative MNS solutions that can help to differentiate their products in the market by offering numerous advanced features such as real-time analytics, machine learning, and artificial intelligence, which can help to increase the effectiveness of MNS and drive growth for developers.
Some of the Top Market Players Are:
Siemens Everbridge Honeywell Eaton Motorola Solutions Blackboard IBM Google BlackBerry Johnson Controls Singlewire Software Rave Mobile Safety American Signal Corporation (ASC) ATI Systems Regroup Mass Notification AlertMedia KONEXUS CrisisGo Netpresenter Omnilert Ruvna F24 Alertus Mircom Iluminar Omingo Klaxon Technologies OnSolve Crises Control Voyent Alert! Squadcast Other Prominent Players
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About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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