Mass Notification System Companies is expected to register a CAGR of 17 % by 2027.
Mass Notification System Companies Scenario:
Mass Notification System is a platform which sends one-way messages to individuals or groups such as customers, employees, citizens, and government officials to keep everyone informed about any event, emergency or disaster. The key factor that fuels the growth of Mass Notification System Companies is high demand for public safety and security solutions across various industries in case of any unexpected event.
Mass Notification System Companies is expected to reach USD 12 billion by 2027 with 17% CAGR during forecast period 2020-2027. The Mass Notification System Companies helps to send information to employees or individuals during a case of an emergency. The information is generally send through voice communications or visible signals. The increasing penetration of internet of things, growing awareness of safety measures, high implementation of mass notification system across various sectors and the growing concern for public safety are the factors boosting the growth of the Mass Notification System Companies. However, security and privacy issues are the factors hindering the growth of the market. The market is expected to show high growth rate over the forecast period, 2020-2027.
The COVID-19 pandemic disruption is estimated to transform the Mass Notification System Companies in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Mass Notification System Companies meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
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The prominent players in the market of Mass Notification System are – Eaton Corporation (U.K.), Blackboard (U.S.), Honeywell International (U.S.), Omnilert, LLC (U.S.), Siemens AG (Germany), Everbridge, Inc. (U.S.), Xmatters, Inc. (U.S.), Mir3, Inc. (U.S.), Singlewire Software, LLC (U.S.), and Desktop Alert, Inc. (U.S.).
· On the basis of organization size, the market can be segmented into large, medium, small. Out of these large enterprises accounted for the largest market share majorly due to the presence of large number of companies in the North-American region. Furthermore, small and medium sized enterprises expected to grow over the forecast period.
· On the basis of application, the market has been bifurcated into business continuity, business communications, integrated public alert and warning, disaster recovery and emergency communication among others. Out of these, business continuity and disaster recovery accounted for the largest market share. The reason is attributed to the increasing awareness to facilitate disaster recovery in case of emergencies. Furthermore, emergency communications and integrated public alert are expected to grow over the forecast period, 2017-2023.
· On the basis of region, the market has been segmented into North-America, Europe, Asia-Pacific and Rest of the world. Asia-Pacific region dominated the lighting control system market.
The global market for mass notification system is estimated to grow at a significant rate during the forecast period from 2018 – 2023. The geographical analysis of Mass Notification System Companies is covered for the regions such as North America, Europe, Asia Pacific, and rest of the world. Among these, the North America region is expected to dominate and grow due to the technological advancements and major players investing in research and development of mass notification system technology.
The U.S. has been in the forefront for the implementation of mass notification systems because of considerable number of vendors offering customized solutions to different industry verticals. The European market also contributes to the growth of mass notification system due to high investments made by communication hardware vendors in the countries like Germany, U.K., and France. The Asia Pacific market is stimulating the rise in Mass Notification System Companies due to high demand for public safety in countries like India, China, and Japan.
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