As per latest mass notification systems industry analysis by Future Market Insights (FMI), market revenue will total US$ 8.8 Bn in 2021. Registering impressive growth at 18.5% CAGR from 2021 to 2031, the market valuation is expected to surpass US$ 48.0 Bn by 2031.
Future Market Insights (FMI) reports that global mass notification systems solutions generated revenue of US$ 7.6 Bn in 2020. In terms of value, services are identified as the fastest-growing segment in terms of component. It is estimated to register the highest CAGR of 22.0% over the next ten years. With the help of smartphones and Internet, it is now possible to communicate with any number of people, irrespective of their location. According to the report, factors such as increasing adoption of wireless emergency alert system and proliferation of smartphones across the globe are projected to drive growth of the mass notification systems market.
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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 resulted by COVID-19 outbreak. This created opportunities for the market growth.
Mass notification systems market is expected to grow by 2.0X from 2020-2021 and would see a surge in demand amid the COVID-19 outbreak, as IP-based notification devices among various businesses, becomes the new norm.
Detailed Insights Offered in Mass Notification Systems Industry Research:
- Market Estimates and Forecasts 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Mass Notification Systems Industry and How to Navigate
- Recommendation on Key Winning Strategies
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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 increasing frequency and natural disasters in the region.
- Growing trend of cost-effective mass notification systems along with technological advancements are creating growth opportunities for component manufacturer 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.
Competitive Landscape
According to the Future Market Insights (FMI)’s industry analysis, Everbridge, IBM Corporation, Omnilert, LLC, Eaton Corporation, Honeywell International Inc., Siemens AG, and American Signal Corporation are identified as key providers and manufacturer of mass notification systems.
The Key players focuses to form new partnership & collaboration to leverage Artificial Intelligence to further advance into the next generation of mass notification systems technology solutions. This strategy can help mass notifications systems companies to serve business customers around the globe by providing mass notification platform and services to make buildings smart, safe, and sustainable.
- For instance, in May 2018, Johnson Controls and Foxconn Industrial Internet collaborated to transform building data analytics through artificial intelligence and machine learning to advance smart building and smart-city technologies and achieve security and sustainability goals.
The mass notification systems manufacturer and providers are focuses on launching innovative solution and expanding its mass notification systems offerings to deliver enhanced technology as well as offer new and upgraded solutions in new markets.
- For instance, in March 2018, Honeywell is expanding its line of Fire-Lite addressable fire alarm control panels to give safety professionals more options for designing small to medium-sized fire systems.
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Mass Notification Systems Industry Survey by Category
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 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
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