A new market research report published by Future Market Insights (FMI) on the global mass notification systems market includes global industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides valuable insights on the basis of component (hardware (fire alarms, public address systems, alert beacons, duress systems, others) emergency notification platform, services (installation & deployment, support & maintenance, warning system designing, emergency response services)), solution (in-building mass notification systems, wide-area mass notification systems, distributed recipient mass notification systems), application (emergency & crisis notification, business continuity and disaster recovery, business communication & operations, and others), end-use industry (military & defense, government & public sector, industrial, commercial, event & sports venues, critical infrastructures, and others), and across six major regions.
As per latest mass notification systems industry analysis by Future Market Insights (FMI), market revenue will total US$ 8.8 Bn in 2021. Registering impressive growth at 18.5% CAGR from 2021 to 2031, the market valuation is expected to surpass US$ 48.0 Bn by 2031. Future Market Insights (FMI) reports that global mass notification systems solutions generated revenue of US$ 7.6 Bn in 2020. In terms of value, services are identified as the fastest-growing segment in terms of component. It is estimated to register the highest CAGR of 22.0% over the next ten years.
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The proliferation of smartphones and the accessibility of Internet across the globe have improved the mass notification systems, catapulting it as an incredibly powerful, efficient and flexible business tool. With the help of smartphones and Internet, it is now possible to communicate with any number of people, irrespective of their location. According to the report, factors such as increasing adoption of wireless emergency alert system and proliferation of smartphones across the globe are projected to drive growth of the mass notification systems market.
Key Takeaways from Market Study:
- The South Asia & Pacific market is expected to offer lucrative growth opportunities due to growing industrialization and increasing frequency and natural disasters in the region.
- Growing trend of cost-effective mass notification systems along with technological advancements are creating growth opportunities for component manufacturer and providers.
- The market in the U.S. is projected to expand at a CAGR of 13.2% through 2031.
- Germany will emerge as a highly lucrative market for sales. Demand in Germany has been forecast to rise at around 16.0% CAGR through 2031.
- Market growth in China, Japan, and India is expected to be much higher, at around 19.7%, 23.9%, and 29.9%, respectively.
- pplications of Intelligent Transportation System (ITS) technologies is highly
- encouraged in emerging smart cities to handle the current challenges of the continuous
- growth in the number of vehicles that ply the highways in urban center
- pplications of Intelligent Transportation System (ITS) technologies is highly
- encouraged in emerging smart cities to handle the current challenges of the continuous
- growth in the number of vehicles that ply the highways in urban center
- Applications of Intelligent Transportation System (ITS) technologies is highly
- encouraged in emerging smart cities to handle the current challenges of the continuous
- growth in the number of vehicles that ply the highways in urban centers
“Government initiatives undertaken to ascertain public safety against potential terror attacks or unforeseen emergencies will augment the demand for mass notification systems,” says a Future Market Insights (FMI) analyst.
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Impact of COVID-19 on Mass Notification Systems Market
The COVID-19 pandemic outbreak has disrupted many industries, including the mass notification systems market. Mass notification systems are installed to alert people about prospective exposure, without triggering panic.
The demand for mass notification systems solutions and devices such as in-building mass notification systems, wide-area mass notification systems, distributed recipient mass notification systems and IP-based notification devices however increased during the lockdown resulted by COVID-19 outbreak. This created opportunities for the market growth .Mass notification systems market is expected to grow by 2.0X from 2020-2021 and would see a surge in demand amid the COVID-19 outbreak, as IP-based notification devices among various businesses, becomes the new norm.
These initiatives start with city Wi-Fi and public connectivity, which plays an important role in ensuring law enforcement devices such as cameras and police observation devices, gunshot detection to collect and transmit the necessary data at the time of emergency situations. This is a significant factor responsible for driving growth of mass notification systems market.
Emergence of Connected Safety Solutions Driving Market Growth
A crisis is the worst situation to draft messages for various audiences, doing phone calls, social media posting and other activities, especially when risks is on rise with every passing second. Mass notification systems not only reduce the staff workload but help resolve and recover from any incident quickly, with as little damage as possible.
Connected safety solutions uses IoT-connected sensors to increase the ability to gather data and make informed decisions. It helps prepare better and quicker response to peoples in crisis situations. Emergence of IoT helps in boosting the reach, speed, and cost-effectiveness of mass notification systems. IoT enables to automate manual processes in an intelligent way, so the output is always relevant to the situation and to the person receiving the notification.
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Detailed Insights Offered in Mass Notification Systems Industry Research:
- Market Estimates and Forecasts 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Mass Notification Systems Industry and How to Navigate
- Recommendation on Key Winning Strategies