Mass Notification System Market worth $65.1 billion by 2029, growing at a CAGR of 22.3%: Report by MarketsandMarkets™

/EIN News/ -- Chicago, April 15, 2024 (GLOBE NEWSWIRE) -- The global Mass Notification System Market is projected to grow from USD 23.8 billion in 2024 to USD 65.1 billion by 2029, at a CAGR of 22.3% during the forecast period, according to a new report by MarketsandMarkets™. Mass notification systems are invaluable assets for enterprises in navigating uncertainties and mitigating disasters. By swiftly distributing crucial information through multiple communication channels such as SMS, email, and social media, these systems streamline crisis management processes. They empower organizations to promptly alert stakeholders about potential threats, evacuation protocols, and safety guidelines. Through real-time updates and coordinated responses, they minimize operational disruptions and ensure business continuity. Additionally, mass notification systems enhance stakeholder engagement and bolster confidence in the organization's crisis preparedness efforts, fostering a resilient business environment.

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426 - Pages

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Mass Notification System Market Dynamics:

Drivers:

1. Increasing number of accidents and disasters
2. Rising adoption of Internet Protocol (IP)-based notification devices
3. Advent of advanced technologies
4. Rising application of mass notification systems across various verticals

Restraints:

1. High cost of implementation
2. Lack of awareness about mass notification systems
3. Inadequate rules and regulations across verticals

Opportunities:

1. Increasing demand for cloud-based mass notification systems
2. Rapid growth of IoT and connected devices
3. Rising need for real-time notification and alert systems

List of Key Players in Mass Notification System Market:

• Siemens AG (Germany)
• Everbridge (US)
• Honeywell (US)
• Eaton (Ireland)
• Motorola Solutions (US)
• Blackberry (Canada)
• Johnson Controls (Ireland)
• Singlewire Software (US)
• OnSolve (US)
• AlertMedia (US)

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The Mass Notification System Market, by offering, is segmented into software, hardware, and services. The software segment is further bifurcated into type, integration, and deployment mode. Further, type is categorized into in-building, wide area notification, and distributed recipient. Based on integration the mass notification system software is further classified into standalone and integrated. And based on deployment mode the market is further bifurcated into on-premises and cloud. The hardware segment is further divided into fire alarm systems, public address systems (loud-speakers/speaker array), duress buttons, electronic messaging displays, visual alert devices, and sirens. The service segment is classified into professional and managed services. Further, the professional services are divided into consulting and planning services and training & support services.

Based on communication channel, the market is segmented into text-based communication (sms alerts, email notifications), voice communication (phone call alerts, PS system announcements), and digital communication (mobile app notifications, desktop alerts, audio-visual alerts).

Based on by facility type the market is divided into indoor facilities (office buildings, shopping malls, and others)  and outdoor facilities (parks, open-air venues, and others).

Based on application, the market is segmented into critical event management, public safety and warning, business continuity & disaster management, reporting & analytics, and other applications. Critical event management is classified into incident response, emergency notification, real-time visibility, event detection and monitoring, and others (incident collaboration, and incident coordination). The public safety and warning application is further divided into public safety drills and exercises, government and law enforcement updates, traffic and transportation alerts, evacuation notices, public health notifications, AMBER alerts and missing person notifications, and others (severe weather warnings, public infrastructure alerts). Business continuity & disaster management is further divided into emergency response plans and workflows, business continuity activation, employee safety and accountability, supply chain and vendor communication, facility, and asset management, customer communication and service updates, and others( resource allocation and mobilization). Also, the reporting & analytics application is bifurcated into recipient behavior analysis, system performance analytics, emergency response analytics, and others (risk assessment and mitigation). In critical event management, these systems facilitate rapid dissemination of information during emergencies, enhancing response coordination. Public safety and warning systems utilize mass notifications to alert populations about potential threats or hazards, aiding in proactive measures. Moreover, businesses leverage these systems for continuity planning, ensuring seamless operations during disruptions. Reporting and analytics functionalities enable organizations to analyze communication effectiveness and optimize strategies for future events, enhancing overall crisis management capabilities.

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 Based on vertical, the Mass Notification System Market is segmented into BFSI, Retail & eCommerce, Transportation, and Logistics, Government & Defense, Healthcare & Life Sciences, Telecommunications, Energy & Utilities, Manufacturing, IT/ITeS, Media & Entertainment, Education, and other verticals (mining, and travel & hospitality). Mass notification systems have become integral across diverse industry verticals, revolutionizing communication and crisis management. In the education sector, mass notification systems ensure swift alerts during emergencies, safeguarding students and staff. Corporations rely on it for disseminating crucial updates to employees and optimizing organizational responses. Healthcare & Life Sciences sector leverages mass notification systems for patient notifications, staff coordination, and critical alerts. Financial institutions utilize it to notify clients about security breaches or transaction confirmations. The manufacturing sector relies on mass notification systems for worker safety protocols and real-time production updates. Additionally, government bodies use mass notification systems for disaster preparedness, community engagement, and public announcements. In each domain, mass notification systems streamline communication, promote safety, and improve overall response capabilities. 

The mass notification systems market has been segmented into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America has been a pioneer in adopting mass notification system, driven by its technological advancement, increasing emergency concerns (natural disasters, terrorism), regulatory compliance, safety priorities in institutions, public health needs, smart city integration, mobile device prevalence, awareness, and collaboration emphasis. The rise of mass notification systems in the Asia-Pacific stems from heightened safety needs, technological progress, and governmental efforts. These systems address urbanization, natural disasters, and diverse cultures, enabling swift crisis communication and safeguarding public welfare amid emergencies, emphasizing their pivotal role in the region's security infrastructure.

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