The Asia Pacific Incident and Emergency Management Market would witness market growth of 7.3% CAGR during the forecast period (2021-2027).
The increasing number of terrorist attacks and bio-hazardous incidents, changing climatic conditions, and rising incidents of home violence are some of the key aspects surging the demand for incident and emergency management solutions across the globe. In addition, rising government rules and regulations also contribute to the growth of the incident and emergency management market over the forecast period.
The huge economic loss incurred by the governments and companies due to the pandemic and other emergency situations have encouraged the key market players to develop advanced solutions. Conversely, some of the restraints for the growth & demand of incident and emergency management solutions are the rising number of terrorist attacks and the fulfillment of government compliances and mandates to mitigate emergency situations.
The rising incidents of natural disasters, terrorist attacks, fire accidents, and others are creating demand for incident and emergency management solutions. Countries like India witness major climatic changes and high frequency of natural disasters like flood which is motivating companies and government organizations to deploy incident and emergency management solutions to tackle these emergency situations.
Additionally, the growing adoption of the latest technologies and solutions is one of the major factors supporting the growth of the regional incident and emergency management market over the forecast period. There are many regional market players that are investing in R&D to develop more advanced solutions to fulfill the increasing demand for advanced incident and emergency management solutions. This would further escalate the regional market growth over the forecast period.
The First Responder Tools market dominated the Malaysia Incident and Emergency Management Market by Communication System Type 2020, thereby, achieving a market value of $276.9 million by 2027. The Vehicle Ready Gateways market is estimated to grow at a CAGR of 12% during (2021 - 2027). Additionally, The Satellite Assisted Equipment market would showcase highest CAGR of 12.6% during (2021 - 2027).
Based on Component, the market is segmented into Solution, Services, and Communication System. Solution segment is further bifurcated across Fire & HAZMAT Solutions, Perimeter Intrusion Detection, Emergency / Mass Notification System, Disaster Recovery & Business Continuity, and Geospatial Solutions & Web-based Emergency Management System. Services segment is further segmented across Consulting, Training & Simulation, Emergency Operation Center (EOC) Design & Integration and Public Information Services. Communication System are further analyzed across First Responder Tools, Vehicle Ready Gateways, Satellite Assisted Equipment, and Emergency Response Radars. Based on End User, the market is segmented into IT & Telecom, Commercial & Industrial, Transportation & Logistics, Defense & Military, Government, Public Sector & Utilities, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Incident and Emergency Management Market is Projected to reach USD 174.5 Billion by 2027, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Motorola Solutions, Inc., Honeywell International, Inc., Siemens AG, Johnson Controls International PLC, NEC Corporation, Hexagon AB, BlackBerry Limited, Everbridge, Inc., and Esri, Inc.
By Component
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