Incident And Emergency Management Global Market Is Projected To Grow At A Rate Of More Than 10% Through 2023 – 2027
23 May, 2023
The global incident and emergency management market size is expected to grow from $136.73 billion in 2022 to $191.49 billion in 2023 at a compound annual growth rate (CAGR) of 40.06%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The incident and emergency management market size is expected to grow to $289.52 billion in 2027 at a CAGR of 10.89%.
Global Incident And Emergency Management Market Key Driver
The rising number of criminal and terrorist attacks is a major factor driving the growth of the incident and emergency management market. Criminal activity is defined as any conduct that is prohibited by any criminal laws, whether federal, state, or county, regardless of whether there has been an arrest or without meeting the requirements for a criminal conviction's level of proof. Terrorist attacks or terrorism cover a wide range of complex threats, including organized terrorism in conflict zones, foreign terrorist fighters, radicalized 'lone wolves,' and attacks using chemical, biological, radiological, nuclear, and explosive materials. Terrorism is becoming more concentrated, converging on countries already riven by violent conflict. For instance, according to Global Terrorism Index 2022, global terrorist attacks increased to 5,226 in 2021. The country with the biggest increase in terrorist attacks was Myanmar. Therefore, the increasing number of criminal and terrorist attacks will continue to drive the incident and emergency management market.
Get a sample of the global incident and emergency management market reportGlobal Incident And Emergency Management Market Segments
The global incident and emergency management market is segmented:
1) By Component: Solution, Services, Communication System
2) By Simulation: Traffic Simulation Systems, Hazard Propagation Simulation Tools, Incident And Evacuation Simulation Tools
3) By System: Web-Based Emergency Management System, Emergency/Mass Notification System, Traffic Management System, Safety Management System, Disaster Recovery And Backup Systems, Other Systems
4) By Vertical: Commercial And Industrial, IT And Telecom, Energy And Utilities, Healthcare And Life Sciences, Defense And Military, Transportation And Logistics, Government And Public Sector, Other Verticals
5) By Geography: The regions covered in the incident and emergency management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global incident and emergency management market.
Major Incident And Emergency Management Industry Players
Honeywell, Lockheed Martin, Motorola Solutions, Siemens, NEC Corporation, Collins Aerospace, IBM, Hexagon, Esri, Alert Technologies, The Response Group, Everbridge, Juvare, Haystax Technology and Veoci.
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Incident And Emergency Management Market Overview
Incident and emergency management refers to the provision of services to communities by coordinating and integrating all activities required to build, sustain, and improve the capability to mitigate against, prepare for, respond to, and recover from natural disasters, terrorist attacks, or other man-made disasters, whether they are imminent or have already occurred.
Incident And Emergency Management Global Market Report 2023 provides data on the global incident and emergency management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The incident and emergency management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.