Crisis emergency and incident management platforms market

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2. 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

3. Market Overview • Crisis management is the process by which an organization manages a disruptive and unexpected event that poses a threat to the organization or its stakeholders. Crisis emergency and incident management platform is a novel concept that functions as a security measure against potential disruption. Crisis emergency and incident management platforms find applications in numerous end-use verticals such as banking, finance service, and insurance (BFSI), energy and utility, aviation, healthcare, and life science, government and defense, hospitality, transportation, and logistics, telecom and IT, etc. • The global Crisis Emergency and Incident Management Platforms Market was accounted for US$ 75,408.1 Mn in terms of value in 2019 and is expected to grow at CAGR of 5.9% for the period 2020-2027.

4. Market Dynamics- Drivers • Increasing threat levels related to terrorism are expected to drive growth of the global crisis emergencyand 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 2006–2011. 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. • 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. • 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. • Statistics: • 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

5. Figure 1: Global Crisis Emergency and Incident Management Platforms Market Share (%) in terms of Value, By Region, 2019

6. Market Dynamics- 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.

7. 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. 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 company’s mobile satellite communications products and services across the market in South Korea.

8. Figure 2: Global Crisis Emergency and Incident Management Platforms Market Value (US$ Mn), 2017 - 2027

9. 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

10. 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. 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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