Incident and Emergency Management Market by Component (Solution and Services), Communication System (First Responder Tools, Satellite Assisted Equipment, Vehicle Ready Gateways, and Emergency Response Radars), Simulation (Traffic Simulation Systems, Hazard Propagation Simulation tools, and Incident & Evacuation Simulation tools), Industry Vertical (Commercial & Industrial, IT & Telecom, Energy & Utilities, Healthcare, Government & Public Sector, Defense & Military, Transportation & Logistics, and Others): Global Market Size Estimates and Forecast (2022-2030)
The incident and emergency management market crossed US$ 125.82 billion mark in 2022 and is expected to hit US$ 174.74 billion by 2030, recording a CAGR of 4.2% during the forecast period.
Increased adoption of first responder tools dominated the incident & emergency management market and is anticipated to grow significantly during forecast period.
First responder tool include police & security personnel, medical teams, and fire departments and it is a kind of technology devices which help assist departments and teams to further provide an early aid or action during an emergency. Moreover, radios which have traditionally become the most commonly used first responder tools and also, there is a massive penetration for the use of smartphones & smart devices as a first responder tools. Furthermore, the first responders have a several sophisticated communication wearable devices such as smartwatch, wearable camera, Terrestrial Trunked Radio (TETRA), smart glass, Ultra High Frequency (UHF) and land mobile radios. Conversely, numerous communication companies are engaging in public safety LTE communication solutions and also with the next-generation software-defined radios & cognitive radios in the market. These factors, as a result propelling the growth of incident & emergency management market.
Within the report, the market is segmented into component, communication system, simulation, industry vertical, and geography. By component, the market is bifurcated into solution and services. The communication system segment is segmented into first responder tools, satellite assisted equipment, vehicle ready gateways, and emergency response radars. By simulation the incident & emergency management market is segmented into traffic simulation systems, hazard propagation simulation tools, and incident & evacuation simulation tools. Based on industry verticals, the incident & emergency management market is segregated into commercial & industrial, IT & telecom, energy & utilities, healthcare, government & public sector, defense & military, transportation & logistics, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Surge in number of explosive threats & assaults of nuclear strikes propels the growth of incident and emergency management market.
There is a growing concern among individuals about the plan of action to be used in the event of an emergency. In addition, due to increased global insecurity, surge in terrorist attacks & criminal activities, demand for incident & emergency management solution continue to rise in the market. Moreover, several terrorist acts globally have boosted a number of key counter-terrorism developments. Also, in order to deal with emergency situations such as explosive assaults, chemical attacks, pandemic attacks, terrorist attacks, traditional war agents, toxic industrial chemical/material attacks, biological attacks, local attacks, and nuclear strikes, key players are increasingly taking several strategic initiatives which is therefore propelling the incident & emergency management market growth.
Increasing dependency on social media and technologies.
There is an increased use of social media to strengthen communication which also provides a reliable and secure communication systems which acts as a critical factor for emergency management. In addition, machine learning tools helps in analyzing massive amounts of data with optimal efficiency and further helps predict damage from future events much faster than other technologies. Moreover, social media outlets help with an instant distribution of information to a large number of people and thus, there is an increasing dependency on social media platforms among federal and local government agencies during recent disasters. These factors, as a result becoming major trends in the incident & emergency management market.
Recent strategic developments in incident and emergency management market
The incident and emergency management market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021, Honeywell the new service offering, Honeywell AMIR. In addition, this new service is mainly focused on delivery of 24/7 cybersecurity detection and further provide quick responses for existing and new cyber threats in the market.
- In May 2019, Siemens launched Cerberus Portal, which is a cloud-based online fire prevention software for monitoring fire systems. Moreover, with this product, a maintenance personnel receives real-time information in the event like a fire incident and also allows to react quickly, alert consumers, and arrange site inspections.
- In March 2019, Lockheed Martin, which is an American aerospace, arms, defense, information security, and technology corporation had launched LTE-over-Satellite system in order to deliver connectivity to remote regions and help enterprises in natural disasters, such as wildfires, earthquakes, hurricanes, catastrophic floods, and others.
The incident & emergency management market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Honeywell, Lockheed Martin, Motorola Solutions, Siemens, NEC Corporation, Collins Aerospace, IBM, Hexagon, Larsen & Toubro Infotech, Alert Technologies, Eaton, and others, are among the prominent players operating in the market.
Target audience for the report:
- Managed service providers
- Incident and emergency management solution providers
- Technology-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Incident and emergency management component suppliers
- End users of Incident and emergency management
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Communication System
- First Responder Tools
- Satellite Assisted Equipment
- Vehicle Ready Gateways
- Emergency Response Radars
- Traffic Simulation Systems
- Hazard Propagation Simulation tools
- Incident and Evacuation Simulation tools
- Industry Vertical
- Commercial & Industrial
- IT & Telecom
- Energy & Utilities
- Government & Public Sector
- Defense & Military
- Transportation & Logistics
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Lockheed Martin
- NEC Corporation
The List of Companies
- Lockheed Martin
- NEC Corporation