MARKET OUTLOOK
Triton, in its research report, estimates the global mass notification systems market to proliferate with a compound annual growth rate of 15.98% in the forecast years 2019-2028.
The rising need for public safety and security is the key growth driver of this market. Further, governments around the world are realizing the importance of evacuation needs. And hence, they have implemented strong regulations and have been taking initiatives to manage emergency situations and incidence management. This is another crucial factor driving market growth. Mass notification systems have found an increased adoption in the healthcare sector. It largely deploys intelligent alerting systems. Besides, the adoption of MNS in the education sector is also continuously increasing. These factors present numerous opportunities for market growth.
However, mass notification systems require additional components, and hence, are very complex. This adds to the system cost and also enhances the overall cost of the safety system. Thus, the high costs associated with MNS are restricting the growth of the studied market. Clear communication is very crucial in relaying emergency information. Therefore, technological limitations encountered in the process of disseminating information to people in times of emergency are a major challenge to market growth.
REGIONAL OUTLOOK
The global market for mass notification systems covers the regions of North America, Europe, Latin America, the Middle East and Africa, and the Asia-Pacific.
Among all regional markets, North America is estimated to emerge as the predominant one in the global market, over the forecast period. This is attributable to the rise in investments for public safety and security. Increased investment in emergency preparedness, coupled with advancements in infrastructure technologies, is expected to fuel the growth of this market during the forecasting period. In addition, North America is home to several industry leaders like IBM Corporation and Honeywell International, among others. This has further augmented the MNS market growth in the region.
COMPETITIVE OUTLOOK
Major players engaged in this market are International Business Machines Corporation (IBM), Desktop Alert Inc, Johnson Controls, OnSolve, Honeywell International Inc, Blackboard Inc, Blackberry AtHoc, Rave Mobile Safety, xMatters Inc, Siemens, Alertus Technologies LLC, Eaton, Singlewire Software LLC, Motorola Solutions Inc, and Everbridge.
Everbridge is a US-based software company having international operations. Critical Event Management is the company’s SaaS-based platform. It includes various software applications that address the tasks an organization needs to perform in order to manage critical events. This also includes mass notification systems, which enable enterprises and government entities to send warning messages to individuals or groups so as to keep them informed prior to, during, and post the occurrence of natural or man-made disasters, and other emergencies. Founded in 2002 as 3n Global, the company changed its name to Everbridge in April 2009.