According to the report, the global incident and emergency management market was valued at $75.46 billion in 2017 and is expected to reach $423.32 billion, registering a CAGR of 24.2% from 2018 to 2025.
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Increase in the number of natural calamities and frequent acts of terrorism are the key factors driving the growth of the global incident and emergency management market. Moreover, stringent government regulations toward public safety have supplemented the market growth. However, high costs of installation and maintenance detriment the market growth. On the contrary, increase in adoption of advanced security devices is expected to create lucrative opportunities for the market players in the near future.
The report bifurcates emergency management systems based on type into mass notification system, surveillance system, traffic management system, safety management system, earthquake warning system, disaster recovery & backup system, and others. In 2017, the surveillance system segment garnered the highest revenue of $20.04 billion, contributing about 26% of the total market share. However, disaster recovery and backup system segment is expected to grow at the fastest CAGR of 26.9% through 2025.
The report divides communication technology into first responder tools, satellite phones, emergency response radar, vehicle ready gateways, and others. The emergency response radar technology would demonstrate the fastest growth of 27.1% CAGR during the study period. In addition, the other segment, which comprises CBRNe/Hazmat Detection system and tsunami warning system, would grow at the fastest CAGR of 27.9% during the forecast period.
The report splits services segment into training & education services, consulting services, design & integration services, and support & maintenance services. In 2017, design and integration services segment contributed almost one-third share of the total market revenue. However, training and education services segment would manifest the fastest growth, registering a CAGR of 26.3% by 2025.
The report offers a country-level study of major regions such as North America, Europe, Asia-Pacific, and LAMEA. In 2017, Europe gathered the highest revenue, contributing nearly 40% of the market share. However, Asia-Pacific is expected to be the fastest growing region throughout the study period, registering a CAGR of 27.2% from 2018 to 2025, followed by LAMEA.
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