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(USGovernment-News.Com, March 26, 2019 ) The overall incident and emergency management market size is estimated to be USD 93.44 billion in 2018 and is expected to reach USD 122.94 billion by 2023, growing at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period. The major factors driving the incident and emergency management market include increasing incidents of terrorist and biohazardous attacks, and natural disasters due to ever changing climatic conditions, and stringent government regulations and norms.
Key players in the incident and emergency managemetn market include IBM (US), NEC Corporation (Japan), Hexagon (Sweden), Esri (US), NC4 (US), Intermedix Corporation (US), Eccentex (US), The Response Group (US), Haystax Technology (US), Alert Technologies (US), Crisisworks (US), EmerGeo (US), Veoci (US), and MissionMode (US). Partnerships and new product/service launches are the major key strategies adopted by market players to offer feature-rich integrated products and services to their customers and penetrate deep into uncatered regions.
IBM is focusing on inorganic growth strategies to further increase its market share. The inorganic growth strategies adopted by IBM include partnerships, collaborations, and business expansions. For instance, in December 2017, the company partnered with APCO International to combine its IBM Watson Analytics platform with APCO’s software to evaluate 911 calls and improve responsiveness, thereby catering to public safety. This has helped agencies in proactively protecting the public from incidents, such as natural calamities. Moreover, in January 2017, IBM collaborated with Echelon Corporation to combine its weather-adaptive platform with Echelon's white tuning solution that helps in controlling street lights and providing better visibility to residents during thunderstorms. IBM has also focused on product enhancements and innovations. For instance, in February 2016, IBM launched a platform for weather data that becomes disaster-ready in case of any upcoming calamity. Strong tie-ups with VARs, system integrators, distributors, and other channel partners help IBM offer its products and services to a wide range of customers.
NEC Corporation, a key vendor in the incident and emergency management market, focusing on developing superior public safety softwares and maintaining strong business relations with its technology partners, such as Microsoft, Oracle, Genesys, and Polycom. The company also follows effective organic growth strategies including new product launches. For instance, in March 2016, NEC Corporation launched a security system that consists of stations, workshops, and garages for Buenos Aires City’s metro service. It includes security cameras, infrastructures, intrusion detection systems, and video analysis systems. Moreover, it has made various collaborations with government agencies, especially law enforcement divisions, which use NEC Corporation’s advanced incident and emergency management solutions and services.
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