Incident and Emergency Management Market

Global Incident and Emergency Management Market Size (2024 to 2029)

The global incident and emergency management market size is estimated to grow to USD 140.79 billion by 2029 and USD 107.98 billion in 2024, registering a CAGR of 5.45% during the forecast period.

Incident and emergency management refer to a standardized approach to preventing and managing severe occurrences or humanitarian emergencies. It works on integrating and implementing emergency systems and solutions across all government and non-government platforms. Incident management is a form of management that aids in restoring high-quality service operations to mitigate the potential impact on users and businesses. The incident response team (IRT), the incident management team (IMT), and the Incident Command System (ICS) are often involved in incident management. Still, the emergency market is the sort of market favored in everyday life for risk avoidance. The term "emergency management" refers to the efforts of enterprises or communities to organize or prepare for the resources and personnel needed to recover or reduce the impacts of man-made or natural catastrophes and acts of terrorism. Emergency and incident management plays a vital part in protecting the community. Several countries have specific departments to establish effective emergency and crisis solutions. In addition, several businesses and organizations have begun building emergency response solutions to reduce the dangers.

MARKET DRIVERS

The growing number of natural disasters and terrorist activities propel the growth of the incident and emergency management market.

The increasing frequency and severity of natural disasters such as earthquakes, hurricanes, and floods are promoting the need for the incident and emergency management to curb the impact of these events. Incident and emergency management help in various ways, such as in the aftermath of natural disasters, by providing real-time information and guidance, coordinating response efforts, and tracking and managing resources. These can help further identify the potential risks and avoid the same repetitions in the future. Furthermore, across the world, the number of terrorist attacks and threats is increasing considerably, which is resulting in the growing demand for emergency systems to limit the impact of such impacts and protect the public.

In addition, factors such as the increased need for security and protection solutions due to implementing regulatory policies for public safety and emergency preparedness lead to the growth of the global incident and emergency management market. Government regulations ensure the proper implementation of safety and emergency preparedness measures that promote adopting these systems.

Furthermore, the growing number of smart cities should support quick evacuation and surveillance systems, which is expected to fuel the growth of the incident and emergency management market. In addition, it is expected that using state-of-the-art aircraft for terrorist attacks will meet the needs of the incident and emergency systems. Besides, higher installation and maintenance costs and the use of advanced technologies by terrorist groups are anticipated in attacks to increase the demand for the incident and emergency management solutions. Furthermore, the growth of the smart city market is leading to the adoption of intelligent surveillance and evacuation systems, which is a significant factor in the market's growth rate.

MARKET RESTRAINTS

Factors such as increased economic losses from natural disasters, increased number of terrorist attacks, and implementation of government mandates to mitigate these emergencies hamper the growth of the incidence and emergency management market. In addition, factors such as the growing number of fake terrorist attacks and high false alarms hamper the incident and emergency management market growth. Furthermore, a lack of emergency and incident management, education, and training may hinder market growth over the forecast period. Even though there are solutions executed for incident and emergency management, the leading solutions that have aging technology and are outdated are predicted to hinder the market growth.

Impact of COVID-19 on the global incident and emergency management market

The globe has been put on high alert due to the new coronavirus (COVID-19) pandemic. In early March 2020, the World Health Organization announced a widespread pandemic. During this pandemic situation integrating incident and emergency management software into the current system, architecture is one of the most significant post-purchase problems customers encounter in the industry. While purchasing this software is expensive in and of itself, purchasers must also upgrade their existing hardware and software, another significant expenditure. Given the importance of public servants' responsibilities in responding to unusual public health emergencies like the COVID-19 epidemic, incident and emergency management systems have gotten much attention. Multiple agencies have been seen processing calls over the phone to safeguard responders.

On the other hand, agencies have struggled to keep workers productive while many are quarantined at home and officers are protected from handling contaminated evidence. On the other hand, the fast evolution of incident and emergency management systems has been encouraged due to changing climatic conditions, increased frequency of bio-hazardous terrorist acts, and domestic violence. Considering these, the market has had moderate growth during this pandemic and is expected to do well during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Incident and Emergency Management Market By Type of System

Based on the type of system, the massive notification system is considered to have the largest share of the market during the forecast period. With a massive notification system, many notifications can be sent via various channels to many people quickly. These systems play a vital role in alerting people about potential dangers and giving instructions at the same time regarding how to be safe in emerging situations. Considering such system advantages, the segment's adoption is growing, resulting in segmental growth.

Incident and Emergency Management Market By Communication Technology    

Based on communication technology, the first response tools segment is expected to grow at the highest rate in the incident and emergency management market over the forecast period. The segment growth is attributed to using these devices during emergencies, which involve wearable devices like smart glasses, smartwatches, wearable cameras, and many more.

Incident and Emergency Management Market By Sector

Based on the sector analysis, the BFSI segment is predicted to lead in the global incident and emergency management market during the forecast period. The factors responsible for the segment growth are increasing the latest technologies and solutions propelling the growth. Moreover, a lack of awareness may restrain the market.

REGIONAL ANALYSIS

Regionally, the North American incident and emergency management market held the leading share of the global market in 2023. It is projected to be the leading regional segment worldwide during the forecast period owing to factors such as a focus on research and development of new technologies to remain prepared for emergency raised natural calamities and terrorist attacks. In addition, the U.S. is more prone to natural disasters, and most states are likely to have hurricanes, droughts, earthquakes, and floods.

The European incident and emergency management market is the second-largest global incident and emergency management market, followed by North America during the forecast period. The growth is due to factors such as a growing number of natural disasters and terrorist attacks, owing to strict regulations for public safety, and growing economic loss due to natural hazards and the need for emergency preparedness. The UK is leading the market growth of the period.

At the same time, the Asia-Pacific incident and emergency management market are expected to grow fast during the forecast period. Factors such as growing government initiatives to reduce the effects of disasters the same way are increasing biohazards and terror attacks, which may lead the region to obtain technological advancements substitutes over the period. Furthermore, in countries like India and China, the governments of these countries have invested vast amounts in training their army soldiers to deal with such incidents, accelerating the growth of the APAC region. In addition, countries like India and China have invested hugely in advancing their airport infrastructure, which is expected to surge the incident and emergency management market growth during the forecast period.

The Latin American incident and emergency management market are expected to steady CAGR during the forecast period owing to the government regulations that ensure the proper execution of safety and emergency measures, promoting the acquisition of these systems. Therefore, Brazil from the Latin American region is expected to lead the market over the forecast period, followed by Mexico and Argentina.

KEY MARKET PARTICIPANTS

A few of the promising companies operating in the global incident and emergency management market are IBM (United States), NEC Corporation (Japan), Hexagon (Sweden), Esri (United States), NC4 (United States), Intermedix Corporation (United States), Eccentex (United States), The Response Group (United States), Haystax Technology (United States), Alert Technologies (United States), Crisisworks (United States), EmerGeo (United States), Veoci (United States) and MissionMode (United States). Government agencies, emergency and incident management providers, independent software vendors, consulting firms, systems integrators, value-added resellers (VARs), and security agencies. Managed Security and IT Service Providers (MSSP) are various types of participants in the incident and emergency management market.

RECENT MARKET DEVELOPMENTS

• The Isle of Wight NHS Trust Ambulance Service (IoW) has implemented Hexagon's computer-assisted messaging (I / D) system. This state-of-the-art incident management solution will address the need for emergency and non-emergency call management and dispatch on the island, improve collaboration with neighboring services, and reduce costs.
• NEC Corporation announced a large-scale disaster prevention system to the Meteorological, Climatological, and Geophysical Agency of the Republic of Indonesia (Indonesia). This massive disaster prevention system will collect seismic intensity and waveform information from newly installed seismometers at 93 sites in Indonesia.
• In July 2020, Intermedix outgrowth its emergency preparedness and responsive division, following the close of the healthcare division sale to R1 RCMInc.
• In June 2017, NC4’s team solution proved instrumental in the successful emergency preparedness simulation and operation of Gotham Shield. As a result, these agencies are increasingly turning to technology to communicate more effectively during disasters and ensure the citizens' protection and safety.
• In June 2014, Eccentex announced that it would partner with Genesys, a leading customer service provider and contact center solutions. This partnership will create cases to help organizations manage risk for critical functions involving emergency incident response, fraud, and customer onboarding. 

Target group:

• Regulatory bodies
• Incident and emergency management solution providers.
• Independent software providers (ISV)
• Engineering offices
• Public safety and security providers
• VAR
• Managed Security Service Providers (MSSP)

This report offers the following:

• A complete context analysis, which includes an evaluation of the parent market
• Significant changes in market dynamics.
• Segmentation of the market to the second or third level.
• Historical, current, and projected market size in value and volume.
• Report and evaluation of recent developments in the industry.
• Market shares and strategies of the leading players.
• Segments of emerging niches and regional markets.
• An objective evaluation of the market's trajectory.
• Recommendations for companies to strengthen their presence in the market.

DETAILED SEGMENTATION OF THE GLOBAL INCIDENT AND EMERGENCY MANAGEMENT MARKET INCLUDED IN THIS REPORT

This market research report on the global incident and emergency management market has been segmented and sub-segmented based on the type of system, communication technology, sector, and region.

By Type of System

• Massive Notification System
• Monitoring System
• Others

By Communication Technology

• First Response Tools            
• Satellite Phones    
• Others

By Sector

• BFSI
• Energy and Public Services
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa