SecurityWorldMarket

27/04/2022

Demand for fast information flow drives Mass Notification market

San Francisco, Ca (USA)

The global mass notification system market size is expected to reach USD 46.96 billion by 2030, growing at a CAGR of 20.8% from 2022 to 2030, according to a new report by Grand View Research, Inc., The researchers attribute this predicted market growth to the increasing demand for real-time information and instructions to users during emergencies.

These systems offer front-line communication technology which notifies people about possible safety measures in case of danger and guides them accordingly. Over the next decade, the market is expected to be ubiquitous across its ecosystem and is expected to witness traction in its adoption across all geographies.

The mass notification system provides several benefits such as faster incident resolution and recovery by allowing the initiator to send messages to thousands of people within a minute. These systems are extremely helpful in coordinating with masses during relief and rescue operations. Mass notification systems facilitate robust analytics, distributed contact data, flexible group management, language localisation, various options for contact data management, and a globalised approach to optimise voice and SMS routing. It also helps in improving productivity and efficiency by reducing the time to notify users and automating manual activities and processes. These benefits are driving the growth of the market.

Several large and small enterprises have adopted mass notification systems to mitigate and manage risks. These systems help notify personnel beforehand, which helps avoid damages & related costs and increase Return of Investment (ROI). Furthermore, the integration of voice and digital communication and combination of reporting & analytics, and cross-promotion of content with the agencies to enhance engagement & outreach, are the key traction of the market. Thus they are gaining popularity across enterprises for their usage due to their distinctive features of business continuity management in case of emergency and calamity.

The report finds that it is the hardware segment which accounts for the largest market share of over 65% in 2021. The segment growth can be attributed to the increasing adoption of managed notification systems across hospitals and medical facilities and growing implementation of IP-based notification devices, which encourage market vendors to partner with notification hardware providers to offer a seamless experience of mass notification systems within end-users’ existing infrastructure.

The large enterprises segment accounts for the largest market share of over 65% in 2021. Large enterprises have a more complex IT infrastructure and offer robust integration, training, and support services related to hardware and software. These capabilities will supplement the segment’s growth during the forecast period.

Distributed recipient solutions are anticipated to witness a significant growth during the forecast period and are predicted to have a CAGR of 21.6% over that time. This, according to the analysts, is due to multiple benefits, such as it automatically distributes notifications when an emergency occurs at a facility and also provides comprehensible voice communications and visible signals at a greater range

The Business Continuity and Disaster Recovery (BCDR) segment accounts for the largest market share of over 60% in 2021. BCDR policies allow a company to quickly recover from a disaster, lower the risk of data loss and reputational damage, and improve processes while reducing the likelihood of an emergency. Thus, BCDR is an essential application for the corporate sector and other official industries to mitigate risks daily, increasing demand.

In terms of verticals, the largest market share for 2021 of over 20% was found to be the educational sub sector, with growth being attributed to the increasing adoption of mass notification systems to handle any emergency on the campus and alert students, faculty, and staff in any scenario with speed and ease, and manage the situation with responses and reporting.

Geographically, the North American regional market is expected to reach USD 14,087.3 million by 2030, with findings showing that the rising demand, for systems capable of facilitating communication with the workforce more securely and effectively across several industries, is driving the growth.

Some of the major players in this industry include the likes of Motorola, Honeywell, Everbridge and Eaton.


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