Global Mass Notification System Market
Dublin, May 09, 2022 (GLOBE NEWSWIRE) -- The "Global Mass Notification System Market by Component, Type (In-Building, Distributed Recipient), Application (Public Alert & Warning, Business Continuity & Disaster Recovery), Deployment Mode, Vertical and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Mass Notification System market size to grow from USD 10.8 billion in 2021 to USD 27.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.4 % during the forecast period. The major factors driving the growth of the MNS market are the rising demand for public safety and security, the increasing implementation of Internet Protocol (IP)-based notification devices, and the high adoption of MNS across hospitals and medical facilities.
The surging demand among energy and utilities firms to effectively manage mass communication during emergencies and the growing demand for cloud-based systems for better scalability are expected to provide opportunities for enterprises operating in various verticals in the mass notification system market.
The services segment is projected to grow at a higher CAGR during the forecast period
The global Mass Notification System market, by component, has been segmented into solutions and services the services segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the need for determining the time and cost required to install the solution that requires fully managed mass notification services. Enterprises are becoming more aware of the benefits of a robust emergency and disaster management plan. Most organizations are inclined to adopt the services of MNS as they are not prone to hardware failures, and are reliable, robust, and scalable.
The in-building type segment will hold the largest market share during the forecast period
The in-building type segment is estimated to hold the largest market share in 2021. The in-building emergency communications system can function as a voice evacuation, mass notification, paging, and background music system. In-building mass notification system provides full control of building notification appliances such as loudspeakers and strobes. The distributed recipient segment is expected to have the highest growth rate during the forecast period. The growth is attributed to the increasing need to send alert messages to end-users (recipients) via multiple delivery methods.
The business continuity and disaster recovery application segment is to grow at the highest CAGR during the forecast period
The mass notification system market is categorized based on the applications such as emergency response management, business continuity and disaster recovery, public alert and warning, reporting and analytics, and other applications (geofencing, workflow management, and critical event management). The business continuity and disaster recovery application segment are estimated to grow at the highest CAGR during the forecast period, due to the demand for MNS solutions by business continuity and management teams of SMEs or large enterprises to help conduct business as usual. Mass notification systems offer business continuity management workflows that automatically send targeted notifications and engage the right teams when an incident occurs.
The Cloud segment is estimated to hold a higher growth rate during the forecast period
Mass Notification System market is segmented on the basis of deployment mode which includes on-premises and cloud. the cloud segment is expected to have a higher CAGR during the forecast period. The cloud technology benefits of easy deployment and minimal capital requirement facilitates the adoption of the cloud deployment model. The increasing demand for scalable, easy to use, and cost-effective mass notification system solutions is expected to accelerate the growth of the cloud segment in the mass notification system market. Moreover, cloud-based mass notification solutions enable business operations to improve employee productivity and save OPEX. Hence, the cloud-based deployment mode will gain traction in the coming years.
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