New York, NY -- (SBWIRE) -- 11/14/2017 -- According to a recent market report published by Persistence Market Research titled, "Emergency Management Services Market: U.S. Industry Analysis and Forecast, 2016–2024", the U.S. emergency management services market was valued at US$ 7,100 Mn in 2015, and is expected to register a CAGR of 7.8% from 2016 to 2024. The market will be valued at 13,954 Mn at the end of the forecast period in 2024.
An increase in aging population in the U.S. and increasing number of people residing in more densely populated urban and coastal areas results in higher concentrations of individuals and assets in a particular area which increases vulnerability due to impact from severe weather and other calamities. This is a major factor which drives the U.S. emergency management services market.
In addition, growing levels of threats related to increased disaster, terror attacks, biological hazards, and shootings in the U.S. are expected to drive growth of the emergency management services market in the U.S. to a significant extent in the near future. Increase in complexity and uncertainty of disasters and uncertainty in government budget allocation are the key factors expected to restrain the growth of the U.S. emergency management services market over the forecast period.
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A growing number of smart city initiatives in the U.S. is anticipated to create lucrative opportunities for various key players operating in the U.S. emergency management services market over the next eight years. Also, big data and analytics solutions can be utilized to analyze the vast volumes of data generated and gathered during disaster response activities and be effectively validated in order to plan and implement efficient measures to respond to such calamities. These are some of the trends likely to govern the U.S emergency management services market in the near future.
The U.S. Emergency management services market is categorized on the basis of professional services offered, by end user vertical and private end user vertical. On the basis of professional services, the market is segmented as consulting services, emergency operation services, training and simulation services and public information services. The emergency operation services sub-segment was valued US$ 4.23 Bn in 2015 and is anticipated to register a CAGR of 8.7% during the forecast period.
On the basis of end user vertical, the U.S. Emergency management services is segmented as federal government, state government, local government, and private sector.
Under the private sector end user vertical the market is sub-segmented into BFSI, healthcare, hospitality, media entertainment, transportation and logistics, telecom and IT, utilities and others. Under private end user vertical, telecom and IT sub-segment accounted for highest market share and was valued at US$ 1.06 Bn in 2015 and is expected to register a CAGR of 9.9 % during the forecast period. Under end user vertical, private sector is accounted for the highest market share in 2015, occupying 65% share of the U.S. emergency management services market.
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This report also covers trends driving each segment and offers analysis and insights regarding the potential of the U.S. emergency management services market.
Some of the key Technology Service Providers identified in U.S. emergency management services market are IBM Corporation, Atos SE, Hexagon AB, TETRA TECH, INC., Science Applications International Corporation (SAIC), Honeywell International Inc., and Leidos Holdings, Inc.
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