Next Generation Emergency Response System Market Worth $3.3 billion by 2028, Growing At a CAGR of 7.0% Report by MarketsandMarkets™
Chicago, March 07, 2024 (GLOBE NEWSWIRE) — The global Next Generation Emergency Response System Market size is projected to grow from USD 2.4 billion in 2023 to USD 3.3 billion by 2028, at a CAGR of 7.0% during the forecast period, according to a new report by MarketsandMarkets™. With the increasing incidence of mass shootings, terrorist attacks, and natural disasters, there is a growing demand for more effective and efficient emergency response systems. The next generation emergency response systems can help to improve response times and save lives by providing first responders with more information and better situational awareness.
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Next Generation Emergency Response System Market Dynamics:
Drivers:
- The proliferation of the Internet of Things (IoT), smart cities, connected vehicles, and wearables.
- Enabling proactive incident detection and optimized resource allocation
- Connected vehicles, equipped with telematics and Automatic Crash Notification (ACN) systems, provide crucial real-time data.
Restraints:
- Cost and infrastructure challenges.
Opportunities:
- Adoption of cloud computing.
- Offering a multifaceted approach to enhancing capabilities
- cloud-based storage solutions offer a cost-effective means of handling large volumes of multimedia data.
List of Key Players in Next Generation Emergency Response System Market:
- Motorola Solutions (US)
- AT&T (US)
- Intrado (US)
- Hexagon (Sweden)
- Esri (US)
- Sinch (Sweden)
- Atos (France)
- Comtech (US)
- Zetron (US)
- Everbridge (US)
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Advancements in communication technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), are creating new opportunities for innovation in the emergency response space.
By offering, the software segment is expected to grow with the highest CAGR during the forecast period
The software segment in the next generation emergency response system market has been classified into call management software, location-based services software, text messaging software, multimedia support software, and other software such as data integration and analytics, cybersecurity, and data protection. Call management software takes the lead in prioritizing and expediting emergency calls, while location-based services offer precise tracking for swift response. Text messaging software contributes to public communication through alerts and two-way channels, fostering information exchange. Meanwhile, multimedia support software introduces a visual dimension, enabling the sharing of images and videos for real-time situational awareness. The integration of these tools into a unified platform, governed by interoperability standards, forms the backbone of a centralized command center.
By offering, the hardware segment is expected to hold the largest market size during the forecast period
The hardware segment in the next generation emergency response system market has been classified into switching and routing equipment, call handling systems, network infrastructure equipment, and other hardware such as mobile devices, wearable devices, and GPS receivers. Next generation emergency response systems (NGERS) leverage cutting-edge hardware to create a faster, more efficient, and more resilient emergency response network. Switching and routing equipment form the system’s core, enabling seamless data exchange across various communication channels. High-performance routers and switches, equipped with quality-of-service capabilities, prioritize emergency traffic to guarantee low latency and minimal packet loss.
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Major players operating in this market ecosystem include Motorola Solutions (US), AT&T (US), Intrado (US), Hexagon (Sweden), Esri (US), Sinch (Sweden), Atos (France), Comtech (US), Zetron (US), Everbridge (US), Avaya (US), Cisco (US), RapidSOS (US), NGA (India), Convey 911 (US), Boost Pro Systems (UK), Simoco Wireless Solutions (UK), SEON Group (Germany), Carbyne (US), RapidDeploy (US). These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.
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