According to Future Market Insights (FMI’s) updated market research, the global market for mass notification systems was valued at roughly US$ 7.6 billion in 2020 and is projected to grow at a CAGR of 18.5% over the next ten years.
Mass notification systems have improved because of the spread of smartphones and the ease with which the Internet is now accessible worldwide, making them a remarkably strong, effective, and adaptable business tool.
It is now possible to speak with any number of individuals, wherever they may be, thanks to smartphones and the Internet. The report predicts that factors including the rising use of wireless emergency warning systems and the spread of smartphones around the world will fuel the market for mass notification systems.
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Key Takeaways from Market Study
- The South Asia & Pacific market is expected to offer lucrative growth opportunities due to growing industrialization and the increasing frequency and natural disasters in the region.
- The growing trend of cost-effective mass notification systems along with technological advancements are creating growth opportunities for component manufacturers 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.
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 resulting from the COVID-19 outbreak. This created opportunities for market growth.
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The 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 are on the 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.
It helps prepare better and quicker responses to people in crisis situations. The emergence of IoT helps in boosting the reach, speed, and cost-effectiveness of mass notification systems. IoT enables to automation of manual processes in an intelligent way, so the output is always relevant to the situation and to the person receiving the notification.
More Valuable Insights on Mass notification systems Market
A new market research report published by Future Market Insights (FMI) on the global mass notification systems market includes a global industry analysis for 2016–2020 and an opportunity assessment for 2021–2031.
The report provides valuable insights on the basis of components (hardware (fire alarms, public address systems, alert beacons, duress systems, and others) emergency notification platforms, 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.
Mass Notification Systems Industry Survey by Category
By Component:
- Mass Notification Systems Hardware
- Emergency Notification Platform
- Mass Notification Systems Services
By Solution:
- In-Building Mass Notification Systems
- Wide-Area Mass Notification Systems
- Distributed Recipient Mass Notification Systems
By Application:
- Emergency & Crisis Notification
- Business Continuity and Disaster Recovery
- Business Communication & Operations
- Others
By Industry:
- Military & Defense
- Government & Public Sector
- Industrial
- Commercial
- Event & Sports Venues
- Critical Infrastructures
- Others
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Product Type
4.2. Global Average Pricing Analysis Benchmark
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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