| Source: Research Nester
New York, New York, UNITED STATES
New York, Aug. 03, 2023 (GLOBE NEWSWIRE) — The global mass notification system market size is predicted to expand at ~23.40% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 174 billion by the end of 2035, up from a revenue of ~USD 14 billion in the year 2022.The market expansion is attributed to the increasing number of natural disasters, such as a flammable gas leak from an industrial reactor, as well as natural disasters such as floods, hurricanes and earthquakes, which can cause significant damage to people and property. It is estimated that around 6,700 natural disasters occur worldwide each year. A natural disaster kills an average of 60,000 people worldwide each year. With MNS, emergency services can quickly and easily send alerts and updates to the public in the event of a disaster.
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Additionally, the growing popularity of Bring Your Own Device (BYOD) in the workplace and education sectors is expected to fuel the growth of the mass notification system market. For example, the number of employees using personal devices at work worldwide is 68%. The percentage of companies adopting BYOD has increased to 57%. With the BYOD trend, companies are relying on mass notification systems to reach their employees quickly and effectively. Because these systems allow them to send messages to multiple devices at the same time, they ensure that their messages are received in a timely manner.
Mass Notification System Market: Key Takeaways
Increasing Digitalization across the Globe to Boost Market Growth
Most companies are involved in some type of digital initiative, and 86% of senior executives believe that going digital should be a priority for their company. More than 80% of companies have successfully implemented a digitally driven business strategy. With the advent of digital technology, businesses have been able to automate many of their processes, making them more efficient and enabling faster communication. MNS can be used to quickly notify employees and customers of changes or updates to the, which has led to its growing popularity across a variety of industries.
More and more government agencies and local administrations use mass notification systems to communicate with people one-way. For example, AlertMedia, Inc. has released emergency communications software that enables enterprise-wide communication, confirms a solution, and connects security teams across the enterprise. This software helps companies to communicate quickly with their employees in an emergency. In the 2019-20 school year, 75% of U.S. public schools reported at least one criminal incident, representing 1.2 million incidents. With MNS, schools can quickly alert students and teachers to potential dangers so they are prepared and can take the necessary action.
Mass Notification System Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Severity of natural disasters to Drive the Market Growth in North America Region
The mass notification system market in North America region is estimated to garner the largest revenue by the end of 2035. The frequency and severity of natural disasters and security threats have increased in recent years, necessitating robust communication systems for emergency alerts and notifications. Mass notification system provide real-time information and enable authorities to quickly reach a large audience. For instance, according to the National Oceanic and Atmospheric Administration (NOAA), the United States experienced 22 separate billion-dollar weather disasters in 2020 alone. These incidents drive the need for reliable MNS solutions.
The integration of MNS with IoT technologies and smart city initiatives is driving market growth. IoT connectivity allows MNS platforms to leverage data from various sources, such as sensors and surveillance cameras, to provide more accurate and targeted notifications. Smart city initiatives, aimed at enhancing urban infrastructure and services, are fueling the adoption of MNS for efficient communication and emergency response. Government regulations and industry standards, such as the Clery Act in the United States, require educational institutions and organizations to have effective emergency communication systems in place. This regulatory environment mandates the implementation of MNS to ensure compliance and improve safety measures. Compliance-related factors drive the adoption of MNS solutions in North America.
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Compliance with Government Regulations to Propel the Growth in the Asia Pacific Region
The Asia Pacific mass notification system market is estimated to garner the highest CAGR by the end of 2035. The APAC region is witnessing rapid urbanization and the development of smart cities. Smart city initiatives require advanced communication systems, including MNS, to enhance public safety and improve emergency response capabilities. Governments across the region are investing in smart city projects, creating opportunities for the adoption of MNS solutions. The APAC region is prone to natural disasters such as earthquakes, typhoons, floods, and tsunamis.
The frequency and intensity of these disasters have increased, necessitating robust communication systems for timely alerts and notifications. MNS solutions play a critical role in disseminating information to a large population during such events. Governments in the APAC region are implementing regulations and guidelines that mandate the adoption of effective emergency communication systems. For example, in India, the National Disaster Management Authority (NDMA) has issued guidelines for the establishment of emergency operation centers and the use of mass notification systems. Compliance with these regulations drives the adoption of MNS solutions.
Mass Notification System, Segmentation by Component
Amongst these three segments, the hardware segment in mass notification system market is anticipated to hold the largest share over the forecast period. The proliferation of smart devices and consumer electronics, including smartphones, tablets, smart TVs, wearables, and home automation systems, drives the growth of the hardware segment. According to a report, smartphone shipments reached over 1.3 billion units in 2020. The increasing adoption of these devices creates demand for hardware components, such as processors, memory, sensors, and displays. The expansion of data centers and the growth of cloud computing services drive the demand for hardware infrastructure. With the increasing amount of data being generated and the need for storage, processing power, and networking capabilities, data centers require hardware components like servers, storage devices, networking equipment, and power systems.
The adoption of Industry 4.0 practices and the digital transformation of industries create opportunities for hardware growth. Industries are incorporating automation, robotics, IoT, and AI to enhance operational efficiency and productivity. This leads to increased demand for hardware components and devices, such as industrial robots, sensors, control systems, and industrial PCs.
Mass Notification System, Segmentation by Enterprise Size
Amongst these segments, the large enterprise segment in mass notification system market is anticipated to hold a significant share over the forecast period. Large enterprises often have the resources and capabilities to expand their operations into new markets and geographies. Globalization and the pursuit of new customer bases contribute to the growth of large enterprises. According to a report, companies in emerging markets are projected to account for around 45% of the Fortune Global 500 companies by 2025, indicating the expansion potential for large enterprises.
Large enterprises often engage in mergers and acquisitions to expand their market presence, acquire new technologies or intellectual property, and gain competitive advantages. M&A activities drive growth by allowing large enterprises to enter new industries, access new customer segments, and achieve economies of scale. Large enterprises focus on enhancing customer experience and personalization to build loyalty and drive growth. By leveraging data analytics, AI, and customer relationship management (CRM) systems, large enterprises can gather insights and deliver personalized products, services, and marketing campaigns.
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Mass Notification System, Segmentation by Deployment Mode
Mass Notification System, Segmentation by Type
Mass Notification System, Segmentation by Industry Vertical
Few of the well-known market leaders in the mass notification system market that are profiled by Research Nester are Acoustic Technology, Inc., Everbridge Inc., Honeywell International Inc., Eaton Corporation, Motorola Solutions Inc., BlackBerry AtHoc Inc., OnSolve, Singlewire Software, LLC, xMatters, Desktop Alert, Inc., and other key market players.
Recent Development in the Mass Notification System Market
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Mass Notification System Market revenue to hit USD 174 Billion by … – GlobeNewswire
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