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Incident and Emergency Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4622622
The Incident and Emergency Management Market is poised to grow at a CAGR of 6.69% over the next five years. Emergencies are highly unpredictable; it takes intense planning, time, and human resources to recover from crises. The primary factors driving the growth of the studied market include an increase in economic loss from natural disasters and the implementation of governmental policies and regulations to reduce such circumstances.

Key Highlights

  • Incident and emergency management solutions play a vital role in helping agencies and government bodies to develop effective contingency plans when faced with natural and human-made calamities. For instance, according to Aon plc's 2021 Weather, Climate, and Catastrophe Insight report, a total of USD 343 billion in economic losses occurred in 2021, USD 329 billion of which resulted from weather and climate-related events.
  • Additionally, the incident and emergency management market is expanding significantly due to increased natural disasters caused by shifting climatic conditions. Climate change has influenced the prevalence of natural disasters. Climate change can raise the risk of extreme weather and increase the risk of droughts and the increased strength of storms, such as tropical cyclones. The elevated levels of water vapor in the atmosphere give storms the power to emerge.
  • According to the World Health Organization (WHO), approximately 1.35 million people succumb to death yearly due to catastrophic road traffic accidents. The WHO also indicates that about 93% of these accidents occur in low- and middle-income countries. Such factors are analyzed to boost the demand for incident and emergency management solutions in low and middle-income countries over the forecast period.
  • A study conducted by the National Highway Traffic Safety Administration to understand car accidents critical reasons indicated that reckless drivers cause about 94% of road accidents. Environmental factors, vehicles, and other unknown reasons are responsible for 2% of crashes each. Such statistics highlight the need for better safety measures, thus increasing the demand for incident and emergency management solutions.
  • Given the criticality of first responders and public servants' roles, being on the frontlines of responding to an unprecedented public health emergency such as the COVID-19 outbreak has attracted considerable attention toward incident and emergency management systems. Lastly, multiple departments are observed handling calls over the phone to protect first responders. On the other hand, agencies have struggled with keeping workforces productive as more are quarantined at home and protecting officers from handling contaminated evidence.

Incident & Emergency Management Market Trends

Increase in Natural Disasters Worldwide to Drive the Market Growth

  • As natural disasters increase in frequency and severity, their recovery costs also significantly increase yearly. Countries worldwide witnessed increased natural disasters last year, such as Brazil's floods, Indonesia's earthquake, Africa's drought, Hurricane Ian in the United States, Hurricane Fiona in Canada, etc. Such incidents further boost the demand for effective incident and emergency management solutions to minimize the cost of such incidents.
  • For instance, according to data from CRED, in 2021, the most common natural disaster type worldwide was floods, with 223 floods in that year reported. Storms were the second-most-common type of natural disaster, standing at 121, followed by 28 earthquakes.
  • In disaster recovery solutions, it is paramount to have a fast, reliable, and secure form of communication. Communication requirements in disaster recovery can benefit from the flexibility, versatility, and quick deployment of satellite networks, enabling responders to coordinate first response activities and command, control, and communicate urgent information, quickly and efficiently. Such an instance further drives the demand for incident and emergency management solutions to provide communication assistance in such disasters.
  • Moreover, the high monetary and human cost associated with natural disasters is driving the demand for incident and emergency management solutions from various countries' federal and state governments. For instance, according to the data from the NEIC, the total cost of natural disasters in the United States amounted to USD 152.8 billion in 2021. Further, the cost of these events reportedly reached USD 29.3 billion in the last year (up to September last year).
  • Similarly, according to the data from the Chinese Ministry of Emergency Management, China's direct economic damages as a result of natural catastrophes were CNY 88.81 billion (~USD 13.13 billion) in the first half of the last year. According to the Ministry, floods and hailstorms were the two most common natural disasters that occurred in China from January to June.

North America to Occupy Significant Share in the Market

  • The North American region holds a significant share in developing the incident and emergency management market. The region is home to many global incidents and emergency management solutions vendors. Many United States and Canadian local governments are increasingly adopting advanced solutions and services to protect public assets from disasters.
  • Natural disasters have always posed a significant risk, striking anywhere and anytime. These types of disasters are especially prevalent in the United States. Therefore, local agencies and government bodies increasingly adopt incident and emergency management solutions to develop effective contingency plans when faced with natural and human-made calamities.
  • In addition, North America's high number of natural disasters further drives the demand for incident and emergency management services, thus directly impacting the market's growth. For instance, according to a CRED report, in 2021, the United States witnessed 43 natural disasters, making it the highest natural catastrophe-prone country in the world. In addition, in 2021, floods were reported as the most common natural disaster.
  • Further, according to the National Centers for Environmental Information (NCEI) data, as of October last year, there have been 15 weather/climate disaster events with losses exceeding USD 1 billion each to affect the United States. These events included one drought event, one flooding event, ten severe storm events, two tropical cyclone events, and one wildfire event. Such instances further drive the demand for the incident and emergency management market in the North American region.

Incident & Emergency Management Market Competitor Analysis

The existing players in the market, like IBM, NEC Corporation, and Honeywell, are well-penetrated and possess successful strategies to develop new and differentiated products that would increase opportunities for them. Additionally, brand identity has a major influence in this market, as solid brands are considered synonymous with good performance.

In December 2022, Hexagon AB, one of the global leaders in digital reality solutions combining sensor, software, and autonomous technologies, announced the acquisition of Qognify, one of the leading providers of physical security and enterprise incident management software solutions.

In July 2022, critical event management company FocusPoint International, and Trackimo, a leading provider of location-based IoT solutions, announced that the companies would integrate their services to bring a range of smart devices that are linked to the Overwatch and Rescue plan and PULSE platform for optimal outdoor emergency management and response for travelers, drivers, and their cargo throughout the USA and Canada.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5.1 Market Drivers
5.1.1 Rising Threats from Extremists and Natural Disasters
5.1.2 Revamp of Legacy Incident and Emergency Management Solutions
5.1.3 Favorable Government Polices and Increased Financial Outlay from the Public Sector
5.2 Market Restraints
5.2.1 Cost and Infrastructural Issues remain a Key Challenge in New Markets
5.2.2 Low Awareness Levels and Disconnection between the Disaster Risk Reduction Policy and the Emergency Management in Practice
6.1 System
6.1.1 Web-based Emergency Management System
6.1.2 Emergency/Mass Notification System
6.1.3 Traffic Management System
6.1.4 Safety Management System
6.1.5 Disaster Recovery and Backup Systems
6.1.6 Other Systems
6.2 Solution
6.2.1 Geospatial Solution
6.2.2 Disaster Recovery Solution
6.2.3 Situational Awareness Solution
6.3 Service
6.3.1 Professional Service
6.3.2 Managed Service
6.4 End-User
6.4.1 Government
6.4.2 BFSI
6.4.3 Transportation and Logistics
6.4.4 Healthcare
6.4.5 Manufacturing
6.4.6 IT and Telecom
6.4.7 Other End-Users
6.5 Geography
6.5.1 North America United States Canada
6.5.2 Europe United Kingdom Germany France Rest of Europe
6.5.3 Asia Pacific China Japan South Korea India Rest of Asia Pacific
6.5.4 Rest of the World Latin America Middle-East and Africa
7.1 Company Profiles
7.1.1 NEC Corporation
7.1.2 Hexagon AB
7.1.3 Honeywell International Inc.
7.1.4 Alert Technologies Corporation
7.1.5 The Response Group
7.1.6 Veoci (Grey Wall Software LLC)
7.1.7 Eccentex Corporation
7.1.8 Haystax Technology
7.1.9 MissionMode Solutions Inc
7.1.10 Resolver Inc.
7.1.11 NC4 Inc.
7.1.12 MetricStream Inc.
7.1.13 IBM Corporation

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • NEC Corporation
  • Hexagon AB
  • Honeywell International Inc.
  • Alert Technologies Corporation
  • The Response Group
  • Veoci (Grey Wall Software LLC)
  • Eccentex Corporation
  • Haystax Technology
  • MissionMode Solutions Inc
  • Resolver Inc.
  • NC4 Inc.
  • MetricStream Inc.
  • IBM Corporation