According to the findings by the International Organization of Fire Rescue and Services (CTIF), the number of fire incidents worldwide was 3.12 million in 2017. There is a growing demand for intelligent emergency response systems (IERS) as these provide emergency response solutions during fire, floods, and other natural and man-created emergencies. According to a recently published market intelligence report by IndustryARC, the application of IERS is growing, and it reflects in the propelling IERS market size which is poised to reach $176.4 billion by the end of 2023, growing at a profitable CAGR of 10.1% during the forecast period 2018-2023.
The IERS market research report is titled, "Intelligent Emergency Response Systems and Infrastructure (IRSI) Market: By Components (Sensors, Optoelectronics, PLC, Others); By Type (Signage, Perimeter Intrusion Detection, Others); By Industry (Education, Healthcare, Industrial, Others); By Geography -- Forecast (2018-2023)." It is comprised of all the facts, figures, and statistics that will provide a peek into the dynamics of the market. Furthermore, the report has delved into the trends, challenges, and opportunities that are expected to impact the IERS industry during the forecast period.
IERS Market: Geographical Analysis & Leading Segments
The Americas was the most lucrative region for the IERS market in 2017, generating $48.67m in revenue. This is attributable the technological advancements in the region, and the high adoption of IERS in countries such as the US, Mexico, and Canada. According to the National Fire Protection Association (NFPA), every 24 seconds, a fire department in the U.S. responds to a fire incident somewhere in the country. Furthermore, Smart America has estimated the total cost of fire incidents in the U.S. to be $329 billion. In this situation, it has become necessary to take actions in order to reduce the expenditure. This had created opportunities for the players in the Americas IERS market. Additionally, APAC will be observing a remarkable growth in the IERC market during the forecast period, which is attributable to the adoption of technology in order to handle emergencies.
The key application of IERS is in the commercial sector, which is poised to grow at a remarkable CAGR of 9.2% during the forecast period. This is attributed to the fact that offices, shopping malls, and other commercial buildings are highly vulnerable to emergencies, and organizations are realizing the importance of IERS. Based on the types of IERS, the video surveillance segment is poised to grow at a CAGR of 10.50% to generate revenue worth $10.81 billion by the end of 2023.
The IERS market report also provides information about the growth prospects in other application segments and end-user industries.
IERS Market: Trends and Growth Drivers
· The Increasing Number of Terror Attacks Propelling the IERS Market –
For the record, there were 65, 117, and 966 terror attacks reported in the U.S., Columbia, and India respectively in 2017. Similarly, other countries such as Saudi Arabia and Iraq also witnessed a significant number of terror attacks, according to the findings on global terrorist activities by “Our World in Data” organization. IERS is also used as a smart emergency solution, helping avoid terror attacks. In particular, video surveillance market, a growing segment of the IERS market, is gaining traction in the security sector due to the increasing incidences of terror attacks and other crimes.
· Mining Industry Creating A Demand Influx in IERS Market –
An enormous number of accidents and fatalities are reported in the mining industry annually. This catapults the amount of money invested in emergencies, which is becoming a major concern for organizations. This, coupled with the governmental regulations has made it imperative for organizations to take safety measures in order to avoid accidents. Subsequently, the organizations are leveraging IERS to better protect the staff at the mining sites.
IERS Market: Competitive Landscape
Some of the key companies identified in the IERS market intelligence report that are striving to capitalize on the customer-base are Honeywell International, Inc., Bosch Security Systems, Axis Communications AB, Pelco Corporation, and FLIR Systems, Inc.
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a) Personal Emergency Response Systems (PERS) Market
b) Emergency Stations Market
What can you expect from the report?
The intelligent emergency response systems (IERS) market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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