(MENAFN- America News Hour) Market Overview
The Intelligent Emergency Response Systems and Infrastructure (IRIS) market was valued at USD 1.13 billion and is expected to reach USD 1.64 billion, at a CAGR of 6.5% over the forecast period. Intelligent emergency response system and infrastructure (IRIS) come into effect during emergencies, either natural catastrophes or human-made. During such situations, the respective health and public administration bodies are alerted using IRSIs. It is directly linked to the telecommunication and satellite ecosystems that have been enhanced immensely for superior data transmission and accurate image capture.
– The increase in industrial accidents has made the government make stringent norms over labor safety. Hence industries are adopting Intelligent Emergency Response Systems and building safer infrastructures.
– In Japan, there were over 450 fatalities due to industrial accidents in 2017. The major concern is the quick response action which can be achieved by the installation of IRIS.
– Increasing awareness about the importance of security, replacement of obsolete architecture, rise in hazardous industrial explorations, among other factors, is expected to drive the demand for IRIS in the near future.
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Scope of the Report
The IRIS is popular for the quick response to assist in respective administrative actions. In the scope of the Intelligent Emergency Response Systems and Infrastructure Market study has considered the component used with the respective system types.
Key Market Trends
Surveillance Systems to Show Significant Growth
– Security and safety is the first concern of any organization today across the industries. To monitor and overcome the threats, concrete surveillance systems are installed so that quick responsive actions can be made. Hence there has been a steep increase in the demand for these systems.
– Though the popularity of wired video surveillance rose dramatically, it is expensive to install and also a time-consuming task. Hence, for large infrastructures, wireless emergency response systems are in need to overcome the above disadvantages.
– In 2018, there has been an increase in reported violent crimes by 19% recorded by police in the United Kindom from 2017 whereas the number of homicides including murders and manslaughter increased by 14%.
– The structure of these systems became compact and also they are now cheaper to manufacture due to developments in MEMS technology. These are a few of the factors for the adoption of IRISs and its growing market.
The Asia-Pacific to be a Fastest Growing Market
– Asia-Pacific is expected to witness the fastest growing market for intelligent emergency systems and infrastructure market. This is due to the technological advancements and their adoption in the region.
– The awareness about the advantages of IRIS has been increasing over the globe, but also due to the rapidly growing smart city projects in countries like India, the market in this region is growing fast.
– Government is also investing in IRIS to tackle the natural calamities. Central Government of India has allocated rupees 321 crores for the implementation of emergency response systems across the country.
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Competitive Landscape
The companies offer various types of IRIS systems have little product differentiation hence, adopting competitive pricing strategies for gaining market share. The IRIS market trend is towards the fragmentation due to the presence of many players offering the systems.
– April 2019 – ST Engineering introduced first ever Fibre Bragg grating (FBG) based AgilFence Buried Intrusion Detection System (BIDS) for perimeter security. AgileFence BIDS is a combination of fiber optic sensors and advanced signal processing algorithms to provide instantaneous and accurate detection of footsteps that cross unfenced boundary lines.
– Jan 2019 – Axis Communications launched an explosion-protected camera for hazardous environment. These cameras are equipped with the i-CS lens which adjusts focus automatically on the subject.
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Technology Snapshot
4.3 Introduction to Market Drivers & Restraints
4.4 Market Drivers
4.4.1 Increase of Hazardous Industries
4.4.2 Favourable Government Regulation
4.5 Market Restraints
4.5.1 High Installation Cost
4.6 Industry Attractiveness – Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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