Emergency and Incident Management Market is Expected to Witness a Steady Growth by 2024

Incident management describes the activities of an organization in order to determine, examine, and correct hazards and to prevent their re-occurrence in future. Such incidents in an organization are usually dealt with by either an an Incident Management Team or Incident Response Team. Emergency management is the term which is used to designate the efforts of businesses or communities in order to coordinate or plan for all materials and personnel required to either recover or mitigate the effects from man-made or natural disasters, acts of terrorism.

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Emergency and incident management plays a vital role in securing the society. Several countries have dedicated departments that work towards implementing proper emergency and incident solutions. Many enterprises and organizations have also started implementing emergency response solutions in their premises in order to mitigate the risks.

Factors such as changing climatic conditions and rise in the number of bio-hazardous and terrorist attacks and home violence have led to the rapid growth of incident and emergency management solutions. Additionally, increasing government norms and regulations also support the growth of this market.

However, lack of emergency management and incident management and education and training may hinder the market growth. Another factor affecting the growth is that even though there are emergency and incident management solutions being implemented, most of the solutions have ageing technology and have become outdated. Furthermore, sophisticated early warning systems and technological innovations such as Ng9-1-1 are some factors which is expected to surge the demand for emergency and incident management solutions in the forecast period.

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The notable players of emergency management and incident management include Motorola Solutions, Cassidian, ESRI, Iridium, Northrop Grumman Corporation, VT MAK, TeleCommunication Systems Inc. (TCS), Lockheed Martin Corporation and Intergraph Corporation.