The market for Emergency Management Services Market growing with the expansion of this Industry Sector Worldwide. Market Research Report Search Engine (MRRSE) has added a new report titled “U.S Market Study on Emergency Management Services: Emergency Operation Services Segment Expected to Witness Relatively High CAGR of 8.7% Between 2016 and 2024”which offer details about the current trends as well as scope for the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned Emergency Management Services Market is highlighted in the report which indicates a prosperous future.
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In this report, the U.S. emergency management services market is segmented on the basis of professional services, end-user vertical and private end user vertical. On the basis of professional services, the U.S. emergency management services market is segmented into consulting services, emergency operation services, training and simulation services, and public information services. On the basis of end user vertical, the U.S. emergency management services market is segmented into federal government, state government, local government, and private sector. The private sector end user vertical, is sub segmented into BFSI, healthcare, hospitality, media entertainment, transportation and logistics, Telecom and IT, utilities, and others.
The U.S. emergency management services market was valued at US$ 7,100 Mn in 2015 and is expected to register a CAGR of 7.8% during the forecast period. The market will be valued at US$ 13,954 Mn at the end of the forecast period in 2024.
Factors impacting the market
Shifting U.S. demographics and increasing threat levels related to terrorism and other security events are the key factors driving the growth of the U.S. emergency management services market during the forecast period. Growing levels of threats related to disasters, terror attacks, biological hazards, and shootings in the U.S. are expected to drive growth of the emergency management services market in the U.S. to a significant extent in the near future. Increase in complexity and uncertainty of disasters and uncertainty in government budget allocation are the key factors expected to restrain the growth of the U.S. emergency management services market over the forecast period. Increasing aging population in the U.S. and increasing number of people residing in more densely populated urban and coastal areas results in higher concentrations of individuals and assets in a particular area (with over 200 Mn in metro areas and 87 Mn living along U.S. coastlines). This in turn is expected to lead to an increase in the nation’s vulnerability due to impact from severe weather and other calamities. This is another major factor likely to boost the growth of the U.S. emergency management services market over the forecast period.
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A growing number of smart city initiatives in the U.S. is anticipated to create lucrative opportunities for various key players operating in the U.S. emergency management services market over the next eight years. Also, big data and analytics solutions can be utilized to analyze the vast volumes of data generated and gathered during disaster response activities and be effectively validated in order to plan and implement efficient measures to respond to such calamities. These are some of the trends likely to govern the U.S emergency management services market in the near future.
Market analysis by segmentation
Among all professional services, emergency operation services segment accounted for 59.8% revenue share in 2015 and is expected to witness relatively high CAGR of 8.7% in terms of revenue over the forecast period. Among all end user verticals, private sector was valued at US$ 4.5 Bn in 2015 and is expected to dominate the market during the forecast period. Among all private end user vertical, Telecom and IT segment was dominant in terms of revenue in 2015 and is anticipated to register the highest CAGR of 9.9% during the forecast period.
Key market players
Some of the prominent technology service providers identified in the U.S. emergency management services market are IBM Corporation, Atos SE, Hexagon AB, TETRA TECH, INC., Science Applications International Corporation (SAIC), Honeywell International Inc., and Leidos Holdings, Inc. Some of the prominent emergency management consulting firms identified in U.S. emergency management services market are West Central Environmental Consultants, Inc., Dewberry, Dynamiq Strategy Pty. Ltd, HSS Inc., ICF International, Inc., Willdan Group, Inc., Hagerty Consulting, Witt O’ Brien, and Obsidian Analytics. Key market players are focusing on partnership with peer companies and increasing adoption of training and support services.
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