U.S. EMERGENCY MANAGEMENT SERVICES MARKET ANALYSIS

Market Dynamics- Drivers

Constantly shifting U.S. demographics are expected to drive growth of the U.S. emergency management services market during the forecast period. Rising geriatric population across the U.S. and increasing number of people living in densely populated coastal and urban areas is resulting in a higher concentration of individuals and assets in a particular area. According to Coherent Market Insights’ analysis, with over 200 Mn in metro areas and 87 Mn living along U.S. coastlines. As a result of this, the nation’s susceptibility is increasing due to the impact of severe weather and other calamities.

Rising threat levels regarding terrorism are expected to propel the U.S. emergency management services market growth over the forecast period. There has been an increasing threat of potential terror attacks, shootings, and biological attacks across the country. As a result, the need for EMS solutions is increasing rapidly. According to the Centers for Disease Control and Prevention (CDC), U.S., the total number of Zika virus cases accounted for over 3,500. In response to this, the government issued a total of US$ 25 Mn in funding to states, cities, and territories to check infection and other associated health-related issues.

Market Opportunities

Smart city initiatives by government authorities to present lucrative growth opportunities. Numerous smart city initiatives have been launched by the U.S. government that provides excellent growth opportunities for market players. For instance, in September 2015, The Department of Homeland Security (DHS) announced plans to invest US$ 50 Mn over the next five years in order to develop cutting-edge emergency response technologies for smart city projects.

Advent of big data analytics can provide significant business opportunities. Big data and analytics solutions are used to study a large amount of data volume, which is generated and gathered during disaster response activities. Moreover, it can be effectively validated, in order to plan and implement efferent measures to respond to similar calamities.

Market Dynamics- Restraints

Rising false alarm rates is expected to restrain growth of the U.S. emergency management services market during the forecast period. False alarm also called nuisance alarms an erroneous report of any emergency, which causes unnecessary panic among organizations. There has been increased prevalence of false alarms in the U.S. regarding emergency management services. As a result of this, it creates panic among working personnel and reduces overall efficiency. According to the National Fire Protection Association (NPFA), in 2012, the U.S. Fire Departments responded around 2, 238,000 false alarms. Thus, these factors are expected to restrain growth of the U.S. emergency management services market during the forecast period.

High installation and maintenance costs is expected to hinder the U.S. emergency management services market growth over the forecast period. Installation of emergency management services requires significant capital investment. Such high investment is not affordable for small and medium-sized enterprises (SMEs), which in turn, reduces its adoption. Furthermore, it requires timely maintenance operations, which incurs into additional cost.