In a recent published report, Kenneth Research has updated the market report for Mass Notification System Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mass Notification System Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global mass notification system market reached USD 4,717.7 Million in 2016 and is expected to reach USD 23,342.3 Million by the end of 2024, expanding at a CAGR of 22.9% over the forecast period i.e. 2017-2024. Moreover, the growth of the mass notification system market is attributed to rising concerns towards public safety, broadcasting of events and disasters among the masses over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Rising industrialization across the globe substantially raises the need for notifications and alert systems to alert the employees in cases of emergency situations. Further, enhancement in the mass notification alert system is likely to strengthen the growth of the global mass notification system market over the forecast period.
North America is slated to account for a leading share of 46.9% in the terms of size by 2024 in the mass notification system market. The growth in the region is anticipated to be fostered by the rapid increase in urbanization. Europe market is expected to expand at a CAGR of 24.4% during the forecast period i.e. 2017-2024. Factor such as recent terrorist attacks in the region such as France is anticipated to positively impact the growth of the mass notification system market in the European region.
Additionally, Germany’s mass notification system market reached USD 195.8 Million in 2016 and is expected to reach USD 1,172.4 Million by the end of 2024, expanding at a CAGR of 25.9% over the forecast period i.e. 2017-2024. Further, the market of Germany’s mass notification system is anticipated to achieve a Y-o-Y growth rate of 34.7% in 2024 as compared to the previous year.
Asia-Pacific is expected to showcase lucrative growth over the forecast period i.e. 2017-2024 by registering a CAGR of 26.3% over the forecast period. Further, the market is expected to account for USD 4,365.0 Million by 2024 from USD 710.8 Million in 2016. Factor such as rising incidents of disasters in the region such as China, Japan, and Others are expected to fuel the demand for mass notification systems in the Asia Pacific region.
Factor such as rising industrialization across the region is believed to contribute to the growth of the Asia Pacific mass notification system market. Further, increasing the adoption of mass notification systems for emergency alert and management in the region such as Australia is anticipated to drive the growth of the mass notification system market in the Asia Pacific region.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The global mass notification system market is segmented on the basis of application into interoperable emergency communication, integrated public alert and warning, and business continuity and disaster recovery. Among these segments, the business continuity and disaster recovery segment occupy the largest market of mass notification systems across the globe with a market share of 37.9% in 2016. Further, the global business continuity and disaster recovery segment are anticipated to reach USD 8,453.3 Million by the end of 2024 from USD 1,788.1 Million in 2016.
Further, the global mass notification system market is segmented on the basis of solution into in-building solutions, wide-area solutions, and distributed recipient. Among these segments, the in-building solutions segment with a market share of 51.3% in 2016 occupies the largest market of mass notification systems across the globe. Furthermore, the global in-building solutions segment is anticipated to reach USD 11,278.8 Million by the end of 2024 from USD 2,418.0 Million in 2016.
Moreover, the global mass notification system market is segmented on the basis of deployment into on-premises and hosted. Among these segments, the on-premises segment with a market share of 74.1% in 2016 occupies the largest market of mass notification systems across the globe. Further, the global on-premises segment is anticipated to reach USD 16,718.3 Million by the end of 2024 from USD 3,495.1 Million in 2016.
Global mass notification system market is segmented on the basis of end-user into healthcare, government, education sector, automotive, defenseÂ, energy & power, BFSI, transportation & logistics, and others. Among these segments, the BFSI segment with a market share of 24.9% in 2016 occupies the largest market of mass notification systems across the globe. Further, the global BFSI segment is anticipated to reach USD 5,154.0 Million by the end of 2024 from USD 1,174.2 Million in 2016.
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why Kenneth Research offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
- Additional company detail analysis.
- Additional country analysis.
- Detailed segment analysis.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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