Incident and Emergency Management Market annual growth rate is 5.2 percent
Incident and Emergency Management Market Size and Growth Rate:
According to the Research Report, the Global Incident and emergency management market Size to grow from USD 88.58 Billion in 2016 to USD 114.01 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.2%.
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Incident and Emergency Management Market Overview:
Incident and emergency management refers to a standardized approach that prevents and manages incidents or humanitarian emergencies with serious consequences participation in the integration and deployment of emergency systems and solutions on all government and non-government platforms.
Incident and Emergency Management Market Growth Drivers and Restraints:
The increase in the number of terrorist incidents around the world has forced government authorities to put in place stricter systems for incident and emergency management across the country. This factor should stimulate the growth of the global market. Countries have formed special military groups to deal with such episodes, while organizations have used the services of professional organizations to prepare their representatives for the procedures to be followed at these events. This proactive deployment of disaster management systems has also played a key role in the growth of the Incident and Emergency Management market.
However, the lack of attention to the benefits of these systems hampers the growth of the world market.
On the other hand, it is expected that the growing need for advanced and innovative products and solutions to avoid the loss of lives and assets of society will generate greater opportunities in the years to come.
The incident and emergency management equipment include alarms, emergency lighting and others. Mass notification system, disaster recovery system, surveillance system, safety management system, transportation management systems, etc., are few types of this market. It is having applications in aerospace, banking, financial services and insurance, government, utilities, retail, manufacturing, hospitals and medical care.
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Geographic Segmentation of the Incident and Emergency Management Market:
On a regional basis, the market has been segmented into North America, Europe, Asia-Pacific, South America, the Middle East and Africa. North America had the largest share of the incident and emergency management market, with the United States leading from the front. The region is one of the largest consumers of incident and emergency management technologies and services. The growing number of terrorist attacks is increasing the demand for such solutions every year. In addition, the region also has a provider of solutions and management systems and significant incidents. Organizations in the region are adopting solutions to protect assets in the event of a disaster.
Key Market Players of the Incident and Emergency Management Market:
The leading companies in the global incident and emergency management market are Rockwell Collins, Inc. (USA), Honeywell International, Inc. (USA), Siemens AG (Germany), Lockheed Martin Corporation (USA) and Motorola Solutions Inc. (United States).
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