The overall mass notification systems market worldwide was valued at US$ 6.50 Bn in 2018 and is set to grow with a CAGR of 19.2% during the forecast period.
Market Insights
The global mass notification systems market is highly driven by increasing concerns regarding public safety and security across the globe. Governments and other private organizations across various developed and developing countries are looking towards improving their response times in order to provide effective services whenever required. Prompt responses enable the businesses and organizations to maintain their status and customer loyalty. Thus, the adoption of mass notification systems is high in various business sectors to receive real-time alerts and provide accurate responses in crisis situations.
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Furthermore, factors such as growing need to maintain commercial steadiness, awareness and adoption of advanced emergency systems and growing demand for rapid notification or reporting systems are also driving the growth of this market. Moreover, mass notification systems can be available in various formats such as email, SMS, web, and social media which provides various opportunities for the players to improvise their solutions. However, lack of regulatory policies in various industries, limited awareness, and inadequate hardware infrastructure are expected to restrain the growth of this market during the forecast period.
Based on deployment model, the mass notification systems market was segmented into on-premise and cloud based models. The on-premise model dominated the market by holding a market share of over 60%, however based on technological advancements and advantages associated with cloud computing, the cloud based models are likely to experience an exponential growth. Based on geography, North America accounted the largest market share due to increasing adoption of cloud based solutions and growing advancements in emergency response systems. In North America, US is the prominent market share holder and is projected to witness a significant growth of over 20.0% during the forecast period.
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On-premise Deployment Model Segment Dominated the Global Market
Based on deployment model, the global mass notification systems market was dominated by on-premise model that held a market share of over 60% in 2018. Being a traditional method of deployment, the on-premise models are largely used, as it reduces the turnaround time in times of emergencies. Most of the mass notification systems are deployed on-premise as it is considered to be the most reliable ways due to the criticality of operations. However, cloud based systems are gaining traction due to increasing adoption of cloud computing, and emergence and adoption of high-tech tools in the technical fields.
North America Dominates the Market by Region
North America led the mass notification systems market in 2018 by holding a market share of over 30%, due to increasing demand fast message delivery systems in various sectors. Furthermore, development of advanced technologies and growing security concerns in public places is also responsible for the huge market share in this region. However, Asia-Pacific is projected to grow at a highest CAGR during the forecast period. Increasing incidences of natural disasters, and growing awareness of improved mass notification systems to improve the time of providing emergency services is fueling the growth of this market.
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