Future Market Insights has published a research study on mass notification system market with revised forecast analysis on each segment of the global market. According to a recent market report titled, “Mass Notification Systems Market: Global Industry Analysis 2012-2016 & Opportunity Assessment 2017-2027,” the global market was valued at US$ 4228.5 Mn in 2017, and is expected to register a CAGR of 10.9% from 2017 to 2027.
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Global Mass Notification Systems Market: Forecast Highlights
According to the report on global mass notification systems market published by FMI, revenue generated by global mass notification systems market witnessed an increase and is estimated to reach value more than US$ 11 Bn by 2027 end, from US$ 4228.5 Mn in 2017.
Global Mass Notification Systems Market: Segmentation Analysis
Global mass notification systems market is categorized on the basis of solution, application, verticals, product and region. On the basis of solution, the market is segmented as in-building solution, wide-area solution and distributed recipient solutions. The revenue contribution from the wide-area solution segment is anticipated to expand at a CAGR of 11.6% during the forecast period. The in-building solution segment is expected to lead the global market with a high valuation during the period of assessment.
On the basis of application, the global market is segmented into interoperable emergency communication, integrated public alert and warning, business continuity (BC) & disaster recovery (DR) and business operation. The revenue contribution from the business operation segment is anticipated to expand at a CAGR of 11.6% during the forecast period.
On the basis of verticals, the global market is segmented into commercial, education, energy & power, healthcare, defense, automotive, transportation & logistics and government institutions. The revenue contribution from the government institutions segment is anticipated to expand at a CAGR of 11.9% during the forecast period. The education segment is anticipated to reach a higher estimation of more than US$ 2800 by the end of the year of assessment and is likely to lead the global market.
On the basis of product, the global market is segmented into hardware, software and services. The hardware segment is further segmented as led display & system, microphones, speakers, siren & strobe lights and others. Also the services segment is further segmented as installation & integration, maintenance and consulting services. The revenue contribution from the software segment is anticipated to expand at a CAGR of 11.4% during the forecast period.
This report also covers trends driving each segment and offers analysis and insights regarding the potential of mass notification systems market in regions including North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East and Africa. Among the regions, APEJ is projected to exhibit relatively high growth in the global market, registering a CAGR of 13.2% over the forecast period. Revenue from the Mass notification systems market in North America account for over 57.5% of the global Mass notification systems market revenue in 2017. Mass notification systems providers can focus on expanding across several countries in APAC and North America regions such as India, China and U.S.
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Global Mass Notification Systems Market: Competitive Analysis
Key competitors in Mass notification systems market are Everbridge, Inc., Metis Secure Solutions, LLC, Mir3, Inc., Omnilert, LLC, xMatters, Inc., AtHoc, Inc.–(BlackBerry Limited), Eaton Corporation Plc., Honeywell International, Inc., International Business Machine Corporation (IBM) and Siemens AG.