PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485755
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485755
Incident and emergency management Market size was valued at USD 125,934.92 Million in 2023, expanding at a CAGR of 6.91% from 2024 to 2032.
Incident and emergency management involves the systematic approach to preparing for, responding to, and recovering from various incidents and emergencies to ensure public safety and minimize disruptions. Recent trends in the market include the integration of advanced technologies such as artificial intelligence and IoT for real-time incident monitoring and response, alongside the increasing adoption of cloud-based incident management platforms for enhanced collaboration and information sharing. However, restraints such as budget constraints, interoperability issues, and regulatory complexities pose challenges to market growth. Despite these hurdles, the increasing frequency and severity of natural disasters and man-made incidents underscore the importance of effective incident and emergency management, offering avenues for market expansion and innovation.
Incident and Emergency Management Market- Market Dynamics
Rising incidence of natural disasters fuels the expansion of incident and emergency management
The incident and emergency management market is experiencing significant expansion due to the escalating incidence of natural disasters caused by shifting climatic conditions. According to the World Meteorological Organization (WMO) and UN Office for Disaster Risk Reduction (UNDRR), climate change and extreme weather have caused a five-fold increase in natural disasters over the past 50 years. These disasters have also accounted for 50% of all disasters from 1970 to 2019, 45% of all reported deaths from 1970 to 2019, and 74% of all reported economic losses from 1970 to 2019. As extreme weather events become more frequent and severe, there is a growing need for robust emergency management solutions to mitigate risks, ensure public safety, and facilitate swift response and recovery efforts.
Incident and Emergency Management Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.91% over the forecast period (2024-2032)
Based on System segmentation, the Traffic Management System was predicted to show maximum market share in the year 2023
Based on Solution segmentation, Geospatial Solution was the leading type in 2023
Based on End-User segmentation, Government was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Incident and emergency management Market is segmented on the basis of system, solution, service, end-users, and Region.
The market is divided into three categories based on solution: In terms of solutions, the market is segmented into Geospatial Solution, which leverages geographic data for real-time incident mapping and resource allocation; Disaster Recovery Solution, focusing on restoring critical systems and operations post-disaster; and Situational Awareness Solution, providing real-time monitoring and visualization of incidents for effective decision-making
The market is divided into two categories based on service: The market is categorized by service into Managed Service, where incident management functions are outsourced for continuous monitoring and support, and Professional Service, which encompasses consulting, implementation, and training services to tailor incident management solutions to specific organizational needs.
Incident and Emergency Management Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America and Europe lead the market, driven by stringent regulations, advanced infrastructure, and high awareness of disaster preparedness. The Asia-Pacific region shows significant growth potential, fueled by rapid urbanization, increasing investments in disaster resilience, and vulnerability to natural disasters. Emerging markets in Latin America and Africa are also witnessing growth, spurred by efforts to modernize emergency response systems and address climate-related risks.
Companies such as IBM Corporation, Hexagon AB, and Esri dominate the market with their comprehensive incident management solutions and extensive global presence. These players focus on continuous innovation, strategic partnerships, and mergers and acquisitions to enhance their product portfolios and expand their market reach. Additionally, startups and emerging players contribute to market competitiveness by introducing niche solutions and disrupting traditional approaches to incident management.
In March 2024, Leidos, Inc. developed and expanded the Air Force's Command and Control Incident Management Emergency Response Application (C2IMERA).
GLOBAL INCIDENT AND EMERGENCY MANAGEMENT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
4C Strategies
Alert Technologies
ARCOS
BlackBerry
Collins Aerospace
Eaton
Esri
Everbridge
Haystax Technology
Hexagon AB
Honeywell International Inc.
IBM Corporation
Johnson Controls
Juvare
Lockheed Martin
LogicGate
LTIMindtree
MetricStream
Motorola Solutions
NEC Corporation
Noggin
OnSolve
Resolver
Siemens
The Response Group
Veoci
Others