Incident and Emergency Management Market
Incident and Emergency Management Market (Component: Solution and Services; and End User: Government, Oil & Gas, Real Estate & Construction, Manufacturing, Energy & Utility, Healthcare, Education, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Incident Management Solutions Gauge High Demand for COVID-19 Contact Tracing
Emergency response management measures are being implemented to contain the spread of coronavirus (COVID-19). Contact tracing, monitoring, and tracking are helping healthcare institutions gain situational awareness. Thus, companies in the incident and emergency management market are capitalizing on incremental opportunities, since European countries such as France and many states in India including Delhi and Maharashtra are under study for a second wave of the pandemic. Healthcare institutes are using software and other tools to improve their reporting capabilities.
Critical incident management solutions are in high demand to enable contact tracing and simplify data entries during the ongoing COVID-19 outbreak. Effective designs of incident planning and procedures are generating value-grab opportunities for companies in the incident and emergency management market. Thus, emergency managers can leverage their critical thinking and solve problems in unique events.
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Real-time ICS Incident Management Software Enable Consistent Reporting and Analytics
eCommerce has opened up a plethora of opportunities for the sale of incident and emergency management software. Several online portals compare prices and features of software to help customers take informed decisions. As such, D4H Readiness & Response company is gaining popularity for its real-time ICS (Internet Connection Sharing) incident management software, which enables consistent incident reporting and analytics.
The incident and emergency management market is estimated to expand at a favorable CAGR of ~7% during the forecast period. The proliferation of cloud in software solutions is emerging as a key market driver. Companies are innovating in mobile-friendly emergency management systems that provide tools for shared situational awareness and real-time communication. They are providing incident command software that improve interoperability and facilitate accountability tracking.
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Insider Threat Programs Aid in Incident Detection at Government and Private Sector Organizations
The incident and emergency management market is expected to reach the valuation of US$ 47 Bn by the end of 2030. However, incident handling and response teams face several challenges such as issues in incident detection and stringent global privacy laws, which are likely to impede market growth. For instance, security incidents occur in several forms such as configuration, alteration, and unauthorized entries in premises. Hence, companies in the incident and emergency management market should increase the availability of programs for insider threats, since study shows that most employees feel vulnerable to insider attacks.
Apart from security incidents, companies are tapping into revenue opportunities in disaster management. For instance, IEM is gaining global recognition as one of the largest disaster management firm, which works with private sector organizations and government agencies.
AI-enabled Software Deploy Extreme Weather Forecasts and Asset Information Management
Tech giants such as IBM are posing as a stiff competition for emerging players in the incident and emergency management market. However, many software buyers are changing their perspective by keeping price as a deciding factor. Companies in the incident and emergency management market are increasing the availability of competitively priced software solutions to gain an edge over established market players. For instance, the Noggin Integrated Safety and Security Platform is gaining recognition for its end-to-end emergency management features and asset information monitoring.
Automation is bringing about a significant change in the incident and emergency management market. Emergency managers are using software to collaborate and command teams and resources in order to gain situational awareness. Future plans and checklists for extreme weather forecast using machine learning (ML) and artificial intelligence (AI) are being preferred by software buyers.
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COVID-19 projection visualization dashboards are being preferred by healthcare and governmental institutions to track the spread of the novel infection. AI and ML technologies are becoming increasingly mainstream in the incident and emergency management market. However, issues such as poor management of database for segregation of critical assets are posing as a challenge for software developers. Hence, companies should develop software that regularly update the inventory of active and inactive assets to track suspicious activities in real-time. Due to the onset of the COVID-19 crisis, software companies are leveraging value-grab opportunities in community preparedness and resilience building for citizens in order to efficiently respond to domestic threats and emergencies.
Incident and Emergency Management Market: Overview
- According to Transparency Market Research’s latest research report on the global incident and emergency management market for the historical period 2018–2019 and the forecast period 2020–2030, the incident and emergency management market is anticipated to reach value of US$ 47 Bn by 2030, expanding at a CAGR of ~7% throughout the forecast period
- The incident and emergency management market is growing at a tremendous pace, owing to stricter government regulations globally. Several countries have been enforcing strict regulations, with respect to disaster management policies, to improve the readiness of each organization to deal with such untoward incidents.
- Moreover, incident and emergency management prepares personnel to tackle such incidents in an effective and systematic manner leading to lesser panic among civilians
Increase in Natural Disasters Worldwide: A Key Driver
- The number of natural disasters has increased over the past 20 years. Imbalance in the environmental cycle and rising global warming have led to the occurrence of natural disasters, such as tsunamis, storms, and earthquakes. A critical component of any successful rescue operation in natural disasters is time to know the precise location of the disaster. The rising frequency of natural disasters across the world is set to boost the incident and emergency management market. For instance, according to the United Nations, in the year 2018 alone, approximately 60 million people were affected by extreme weather events round the world, thousands of lives were lost due to earthquakes, volcanic activities and tsunamis, and millions of people were evacuated as a result of drought, earthquakes, and storms. All these factors are likely to accelerate the incident and emergency management market.
- The impact of this driver is likely to be high, as the losses are high. Incident and emergency management is demanded across the globe to reduce the risk of loss due to natural disasters. The impact is expected to be medium in the long-term with rise in adoption of incident and emergency management.
Key Challenges Faced by Incident and Emergency Management Market Players
- Wrong functioning of sensors in early warning systems may restrain the growth of the incident and emergency management market. The assembly of early warning systems has sensors as one of the major parts to send signals to the end user. A major inability of sensors is in a situation of unexpected high reading or in a state of sudden shock, where sensors may not always provide the correct reading. Chances of sensors being damaged is high in the event of an impulsive reading. This may obstruct the structure of early warning systems, which, in turn, may hamper the growth of the incident and emergency management market.
Incident and Emergency Management Market: Competition Landscape
- Detailed profiles of providers of incident and emergency management have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global incident and emergency management market are
- Campbell Scientific
- Early Warning Labs
- LLC, ESRI
- GeoSIG Ltd
- Güralp Systems Ltd.
- Hanwell Inc.
- Honeywell International Inc.
- HWM-Water Ltd
- Internationals Business Machines Corporation
- Kinemetrics, Inc.
- Lockheed Martin Corporation
- Motorola Solutions, Inc.
- NEC Corporation
- Pessl Instruments GmbH
- Riverside Technology, Inc.
- Siemens AG
- TomTom N.V.
- Trimble Inc.
Incident and Emergency Management Market: Key Developments
- Key providers of incident and emergency management, such as Honeywell International Inc, Inc., Siemens AG, TomTom N.V, Motorola Solutions, Inc., and NEC Corporation are focusing on the development of cost-effective incident and emergency management services to attract more customers. Some other key developments in the global incident and emergency management market are highlighted below:
- In September 2020, Trimble Inc. announced the acquisition of MidStates VRS LLC, a network previously owned by Butler Machinery and Frontier Precision. This acquisition will allow Trimble Inc. to offer reliable, fast, and more accurate positioning services to users. The company is focusing on geographical expansion by acquiring technology companies in motoring and incident management solution sectors.
- In June 2020, Siemens AG and Salesforce.com, Inc. partnered to provide a smart and connected workplace for safety and future challenges and to reduce the response time during emergency in commercial infrastructure.
- In December 2019, Siemens AG introduced the Desigo CC platform with new features and updates to manage a wider range of building infrastructures. The advanced technology in building solutions enables building operators to enhance energy efficiency by ensuring the safety and comfort of tenants.
- In November 2019, Pessl Instruments GmbH announced a collaboration with SDF S.p.A. to provide Internet of Things weather stations in German, French, Italian, Luxembourg, Dutch, Swiss, and Belgian markets
- In the global incident and emergency management market report, we have discussed individual strategies, followed by company profiles of providers of incident and emergency management. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global incident and emergency management market.
Incident and Emergency Management Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global incident and emergency management market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the incident and emergency management market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the incident and emergency management market will progress during the forecast period, 2020 - 2030.
The report offers intricate dynamics about the different aspects of the incident and emergency management market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the incident and emergency management market during the forecast period. It also includes impact analysis of COVID-19 on the incident and emergency management market. The global incident and emergency management market report helps to estimate statistics related to the market progress in terms of value (US$ Mn).
The study covers a detailed segmentation of the incident and emergency management market, along with key information and a competitive outlook. The report mentions the company profiles of key players currently dominating the incident and emergency management market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Incident and Emergency Management Market
The report provides detailed information about the incident and emergency management market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the incident and emergency management market so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue out of incident and emergency management services?
- What will be the Y-o-Y growth of the incident and emergency management market between 2020 and 2030?
- What are the winning imperatives of market frontrunners in the incident and emergency management market?
- What are the major drivers and restraints of the market?
- What will be the size of the incident and emergency management market from 2020 to 2030?
- Which will be the fastest growing segment in the incident and emergency management market?
- Which are the leading companies in the incident and emergency management market?
- What are the strategies of companies operating in the market?
Research Methodology – Incident and Emergency Management Market
The research methodology adopted by analysts to compile the incident and emergency management market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the incident and emergency management market. During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the incident and emergency management market. For secondary research, analysts scrutinized numerous annual report publications, white papers, and data of major countries of the world, industry association publications, and company websites to obtain the necessary understanding of the incident and emergency management market.
Incident and Emergency Management Market – Segmentation
TMR’s research study assesses the incident and emergency management market on the basis of component, end user, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the incident and emergency management market.