Crisis Emergency and Incident Management Platforms Market Analysis | Coherent Market Insights

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CRISIS EMERGENCY AND INCIDENT MANAGEMENT
PLATFORMS MARKET ANALYSIS

• Crisis Emergency and Incident Management
  Platforms Market, By End user Vertical (BFSI,
  Energy and Utility, Healthcare and Life Science,
  Government and Defense, Aviation, Hospitality,
  Transportation and Logistics, Telecom and IT and
  Others), By Communication Technology (First
  Responder, Satellite Phone, Vehicle Ready Gateway
  and Emergency Response Radar), By System and
  Platform (Web Based Emergency Management
  Software, Geospatial Technology, Emergency
  Notification Service, Surveillance System, Hazmat
  Technology, Backup and Disaster Recovery System,
  Earthquake/Seismic Warning System, Traffic
  Incident Management , Remote Weather Monitoring
  System and Database Management Systems(DB MS)),
  By Service (Consulting, Emergency Operation
  Center (EOC) Design and Integration, Training and
  Simulation and Public Information Services) and
  by Region (North America, Latin America, Europe,
  Asia Pacific, Middle East and Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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• The global Crisis Emergency and Incident
  Management Platforms market was valued at US
  75,408.1 Mn in 2019 and is forecast to reach a
  value of US 1,22,042.1 Mn by 2027 at a CAGR of
  5.9 between 2020 and 2027.

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Market Drivers

• Increasing threat levels related to terrorism are
  expected to drive growth of the global crisis
  emergency and incident management platforms
  market during the forecast period
• Rising level of threats related to potential
  terror attacks, shootings, and biological hazards
  in the U.S. has led to rising implementation of
  such emergency management platforms. According to
  the Federal Bureau of Investigation (FBI), the
  number of cyber events against the U.S.
  government increased by 680 and active shooter
  events increased 3X over the period 20062011.
  According to the European Union Terrorism
  Situation and Trend Report 2016, the total number
  of failed, foiled, or completed attacks in Europe
  increased from 152 in 2013 to 211 in 2015.
  Moreover, the Centers for Disease Control and
  Prevention (CDC), the U.S., the total number of
  Zika virus were there 3,500 reported cases. In
  response to this, the U.S. government issued a
  total of US 25 Mn in funding to states, cities,
  and territories for associated health-related
  issues. Hence, these factors are expected to
  drive growth of the market during the forecast
  period.

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• Proactive initiatives by government organizations
  are expected to propel the global crisis
  emergency and incident management platforms
  market growth over the forecast period
• Various organizations are focused on exploring
  means to deploy systems that can warn citizens
  about various natural calamities such as
  landslides, storms, and earthquakes, and also
  chemical leakages, terrorist attacks, and
  blackouts. This is done to reduce the loss of
  human life and damage to property. This, in turn,
  is expected to propel the global crisis emergency
  and incident management platforms market growth
  in the near future.

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Crisis Emergency and Incident Management
Platforms Market - Impact of Coronavirus
(Covid-19) Pandemic

• COVID-19 Pandemic have adversely affected the
  economies of various countries around the globe.
  According to the International Monetary fund
  Analysis, the global economy is expected to
  shrink down by 3 percent in the year 2020
  compared to year 2019. Owing to the economic
  slowdown many companies are expected to reduce
  expenditure on the security and research areas.
  It is expected that companies will not buy new
  security systems during the COVID-19 pandemic,
  which will adversely affect the growth of the
  market.

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• North America held dominant position in the
  global Crisis Emergency and Incident Management
  Platforms market in 2019, accounting
  for 33.4 share in terms of value, followed by
  Europe and Asia Pacific, respectively
• Figure 1 Global Crisis Emergency and Incident
  Management Platforms Market Share () in terms of
  Value, By Region, 2019

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Market Restraints

• Increase in complexity and uncertainty of
  disasters is expected to restrain growth of the
  global crisis emergency and incident management
  platforms market growth over the forecast period
• High numbers of disasters or unfamiliar threats
  occur, some of which require emergency management
  procedures to be initiated. It is challenging and
  complicated for consulting firms to analyze vast
  amounts of data and information in a limited
  amount of time and predict these disasters in the
  near future. Emergency management firms may
  require to reevaluate how present services can be
  implemented and enhanced to meet these
  challenges. Hence, these factors are expected to
  restrain growth of the market in near future.
• Uncertainty in government budget allocation is
  expected to hamper the global crisis emergency
  incident management platforms market growth over
  the forecast period
• Decline in government spending, budgetary
  priorities, changes in areas of spending, failure
  to approve government budgets on a timely basis,
  delays in contract awards, and procurement of
  grants and contract documentation are factors
  that could significantly and adversely hamper
  growth of the market during the forecast period.

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Market Opportunities

• Emergency motivation service can present
  lucrative growth opportunities
• Certain crisis/emergency and incidence
  management service providers are more focused on
  introducing emergency notification systems and
  services in order to broaden its solution
  offerings. For instance, in June 2014, the
  Honeywell International Inc., introduced
  NOTIFIER, which is an emergency communication
  system that can interface with any commercial
  fire alarm and broadcast live voice messages and
  recorded messages and emergency alerts to the
  public.

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• Increasing implementation of satellite phones can
  provide business opportunities
• Various satellite solution providers are
  focusing on enhancing their presence across
  various regions especially the Asia Pacific
  through a partnership with various communication
  solution providers in the region in order to
  distribute the former companies solutions. For
  instance, in June 2015, Iridium Communication
  Inc. partnered with Arion Communication Co.,
  Ltd., which is a Korea-based manufacturer of
  maritime, aviation, and communications equipment,
  in order to distribute a former companys mobile
  satellite communications products and services
  across the market in South Korea.

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• Figure 2 Global Crisis Emergency and Incident
  Management Platforms Market Value (US Mn), 2017
  2027

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Market Trends

• Trends by Professional services
• Public information services Crisis/emergency
  and incidence management service providers are
  focusing on partnerships and setting up data
  centers across various regions in order to
  enhance its service offerings across such
  regions. For instance, in January 2017, Motorola
  Solution Inc. partnered with RapidSOS, which is a
  U.S.-based software company, in order to enhance
  its solution offerings primarily focusing on
  public safety agencies and is expected to also
  provide critical information to accelerate
  response times and improve emergency outcomes.
• Trends by verticals
• Growing adoption of disaster management
  solutions by aviation and government sector The
  government and aviation industry are adopting
  crisis and risk management solutions such as
  disaster recovery systems, traffic incident
  management, weather monitoring system, and
  others. These industries are adopting risk
  management solutions due to a rise in terrorist
  attacks on airports and in public places. These
  solutions are expected to help the government and
  aviation authorities to provide better security.

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Competitive Section

• Key players operating in the global crisis
  emergency and incident management platforms
  market are Honeywell International Inc.,
  Intergraph Corporation, Lockheed Martin
  Corporation, Environmental System Research
  Institute, Inc., Motorola Solution Inc., Guardly,
  Rockwell Collins, Inc., Iridium Communication
  Inc., and Siemens AG.

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Key Developments

• Key players in the market are focused on product
  development, in order to enhance the market
  presence. For instance, in May 2020, Honeywell
  International Inc. introduced an integrated set
  of solutions to improve health of building
  environments and operate more safely.
• Major market players are involved in product
  launches, in order to gain a competitive edge in
  the market. For instance, in January 2017,
  Lockheed Martin Corporation introduced
  Space-Based Infrared System (SBIRS) satellite in
  collaboration with the U.S. Air force for
  providing multi-mission surveillance in the areas
  of missile warning, missile defense, battlespace
  awareness, and technical intelligence.   

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