Mass Notification Systems Market Worth $17.3 Billion by 2024 - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, Sept. 3, 2019 /PRNewswire/ -- According to a new market research report "Mass Notification Systems Market by Component (Hardware, Software and Services), Solution (In-Building Solutions, Wide-Area Solutions, and Distributed Recipient Solutions), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets(TM), the Mass Notification Systems Market is estimated to be USD 7.3 billion in 2019, the Mass Notification Systems (MNS) Market is projected to surpass USD 17.3 billion by 2024, registering a CAGR of 18.8% during the forecast period.
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The growth of this market is driven by the growing concern for public safety and security and the increasing implementation of Internet Protocol (IP)-based notification devices.
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135 - Pages
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The hardware segment to hold a higher market share than the software and services segment during the forecast period
The hardware segment in the MNS market consists of various electronic components that are used to convey the messages through the exchange of information by speech, visuals, or signals. Ease of propagation of alerts through clear and concise voice communications has resulted in the wide deployment of the hardware MNS. The hardware segment of mass notification solutions includes displays, speakers (giant voices/speaker array systems, and indoor speakers) with strobe lights, controllers. These systems are most commonly used in defense and military, government, public safety, and commercial and industrial automotive verticals.
Commercial and industrial vertical to witness the highest CAGR during the forecast period
The commercial and industrial vertical deploys the MNS in places, such as shopping malls, restaurants, movie theatres, office complexes, and service stations. The MNS and solutions specifically designed for the commercial vertical are instrumental in informing and warning the masses related to the possible natural disasters, building evacuations, fire outbreaks, accidents, power outages, weather information, alarm and emergency signalling, and criminal activities in the building or commercial and industrial automotive space. The use of MNS in the commercial vertical can be of great importance as this vertical is more prone to disasters and emergencies.
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Among regions, North America to hold the highest market share during the forecast period
North America comprising the US and Canada has witnessed a phenomenal growth in the Mass Notification Systems Market. The US is the most developed country and is contributing maximum share in the MNS market. There has been an increased awareness about MNS in the region after the 9/11 terrorist attacks. Moreover, the increase in occurrence of campus shootouts has troubled the law enforcement agencies. After the 9/11 terrorist attacks, the Department of Defense (DoD) issued stringent norms related to installation and management of MNS in industrial enterprises, public installations, and defense installations. Most of the law enforcement agencies in the US, such as federal agencies, Marine Corps, US Army, and defense installations, have deployed MNS for instant intelligent alerts and better and quick response management.
Some of the major vendors in the Mass Notification Systems Market are Motorola Solutions (US), BlackBerry AtHoc (US), Eaton (Ireland), Honeywell (US), Siemens (Germany), Everbridge (US), Blackboard (US), Desktop Alert (US), OnSolve (US), Singlewire Software (US), xMatters (US), Alertus (US), Johnson Controls (US), Federal Signal Corporation (US), and Rave Mobile Safety (US).
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