In addition, increasing cyber threats with evolving nature is another factor expected to propel the demand for high quality, technologically advanced, reliable mass notification systems, which could provide better security against cyber-attacks.
Valley Cottage, NY -- (SBWIRE) -- 11/07/2016 -- The global mass notification systems market, valued at US$ 3.4 Bn in 2015, is expected to register impressive growth in revenues, reaching at US$ 3.8 Bn by 2016 end. Driven by government initiatives toward public safety, the market is anticipated to witness the highest growth in North America.
Burgeoning industrialisation and favourable initiatives by various governments regarding public safety, are the key factors identified to drive the mass notification systems market globally. In addition, increasing cyber threats with evolving nature is another factor expected to propel the demand for high quality, technologically advanced, reliable mass notification systems, which could provide better security against cyber-attacks.
Mobile-based mass notification apps are currently trending the mass notification systems market, with an aim of better, convenient, and rapid management through user-friendly, interactive dashboard. In addition, several healthcare and educational organisations are increasingly adopting duress-based solutions, in combination with mass notification systems. Moreover, a large number of companies in the BFSI sector is deploying mass notification systems for enhanced incident management capabilities.
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The global mass notification systems market is segmented into hardware, software, and services, based on the product type. The hardware segment is projected to account for the highest revenue share in the global market. According to the application, FMI's research indicates that the business operation segment will dominate all other application segments, including business continuity and disaster recovery, interoperable emergency communication, and integrated public alert and warning. Integrated public alert and warning segment is anticipated to be the second largest application-based segment.
Based on the solution, the distributed recipient solution segment is expected to grow at a higher pace, compared to in-building and wide area solutions. Among several end-user verticals in the mass notification systems market, the commercial sector is predicted to dominate healthcare, defence, automotive, energy and power, transport and logistics, education, and government sectors.
North America will continue to form the largest market for mass notification systems globally. Other key regional markets include Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East & Africa (MEA). Owing to high-paced industrialisation in emerging economies, APEJ is estimated to be the second largest market, growing at a significant rate. Latin America and Western Europe will maintain their major market positions, following APEJ.
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AtHoc, Inc., Honeywell International, Inc., Everbridge, Inc., Siemens AG, Eaton Corporation Plc., and International Business Machines Corporation (IBM) are some of the top players in the global mass notification systems market. Other significant players include Metis Secure Solutions, LLC, Mir3, Inc., Xmatters, Inc., and Omnilert LLC.
Long-term Outlook: The global mass notification systems market is anticipated to expand at a robust CAGR of 12.7% over the forecast period, 2016-2026. North America is expected to expand at a CAGR of 11.4% led by the U.S., while APEJ will expand at the highest CAGR of 17.4% through to 2026.