A compound annual growth rate (CAGR) of 18.7% is projected for the mass notification systems market between 2023 and 2033. A valuation of US$ 68.8 billion is projected by the conclusion of the aforementioned assessment period.
The threat posed by extreme terrorism has increased recently. Numerous school shootings constitute acts of domestic terrorism, and the 9/11 assault has increased awareness of emergency notification systems around the world. Emergency warning and mass notification systems are becoming more and more crucial in spreading awareness, disseminating information, and saving lives as terrorist attacks increase in frequency.
There is a greater need for mass notification systems now that thousands of people have been affected by recent crimes and terrorist attacks.During the forecast period, this factor is expected to drive the adoption of mass notification systems.
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Key Takeaways from the Mass Notification Systems Market Report:
- The global market for mass notification systems is estimated at US$ 10.4 billion in 2022
- The most appealing segment, with an estimated market share of 43.2%, is the mass notification systems emergency notification platform.
- The market for mass notification systems is projected to be worth US$ 68.8 billion by 2033.
- North America has been the most attractive market in the last five years, with the US expected to account for 85.5% of the market in 2023.
- China and India were appraised at US$ 641.1 million and US$ 334.9 million in 2022, respectively, and are expected to grow at 19.7% and 29.9% CAGRs through 2033.
“The mass notification systems market continues to witness robust growth, driven by escalating demand for real-time communication and emergency management solutions. It is poised for significant expansion, propelled by the increasing need for swift and efficient dissemination of critical information across diverse industries. This comprehensive market research study delves into key trends, market dynamics, and emerging opportunities, providing invaluable insights for stakeholders navigating the evolving landscape of mass notification systems.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Competitive Landscape:
Some of the market’s most powerful competitors are investing in studies and research (R&D) to facilitate the provision of a diverse range of leather manufactured in a variety of colors and materials for a variety of applications. Companies hope that by doing so, they will be able to keep up with the changing environment. For instance,
Genasys Inc., a leading global innovator in critical communications systems and solutions that help people stay safe, declared a new Incorporated Mass Notification System (IMNS) a way for a large outdoor vacation spot in April 2023.
Motorola Solutions disclosed in December 2022 that it had acquired Rave Mobile Safety, a leader in mass notification and incident administration that assists organizations and public safety institutions in communicating and collaborating during situations of emergency.
Leading Key Players:
Eaton Corporation Inc.
Honeywell International Inc.
Johnson Controls
Bosch Limited
Siemens
Everbridge
Motorola Solutions, Inc.
AtHoc, Inc.
AFA Protective Systems, Inc.
Alertus Technologies, LLC
American Signal Corporation
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Mass Notification Systems Market Segmentation:
By Component:
Mass Notification Systems Hardware
Fire Alarms
Public Address Systems
Alert Beacons
Duress Systems
Others
Emergency Notification Platform
Mass Notification Systems Services
Installation & Deployment
Support & Maintenance
Warning System Designing
Emergency Response Services
By Solution:
In-Building
Wide-Area
Distributed
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
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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