Emergency management service (EMS) is an emergency preparedness program that is mandatory for an organization. These services are crucial for good corporate governance. It requires out-of-hospital treatment and transport to definitive care. In the majority of places, EMS can be summoned by the common public via emergency telephone number thereby putting them in contact with a control facility. These services include consulting services, training and simulation service, public information service, and emergency operation services.
Market Statistics:
The U.S. emergency management services market is expected to surpass US$ 23369.89 Mn in terms of value by the end of 2028.
Market Driver
Increasing terrorist and criminal activities across the U.S. is expected to propel the U.S. emergency management services market growth over the forecast period. Criminal activities such as mass shootings have increased significantly in the recent past. According to the Federal Bureau of Investigation (FBI), in 2018, around 1.2 million violent crimes were reported, which includes murder, aggravated assault, robbery, etc. Furthermore, terrorist attacks have also increased across the country, which has made emergency management services necessary.
Market Opportunity
Technological advancements in communication infrastructure can present lucrative growth opportunities. Advancements in technology in communication infrastructure offer various opportunities for EMS solutions. The advent of high-speed internet, 4G LTE, IoT, and other technologies have made communication infrastructure more sophisticated and efficient. As a result of this, EMS solutions have become more effective. Key players in the market can capitalize on these opportunities by providing novel solutions and gain a competitive.
U.S. Emergency Management Services Market: Recent Developments
In March 2021, IBM Corporation, Hardware and Software provider launched the Watson Assistant System, for helping people to respond to COVID-19 related queries.
In August 2021, U.S. based Mutualink, Inc. technology provider launched LNK360. LNK360 is an intelligent platform which is use to establish incidence-based communications for public safety.
In April 2019, Chicago based startup HAAS and Oregon based emergency digital tool provider company Active911 announced partnership. Through this partnership, Active911 mobile app users can use the HAAS Alert Safety Cloud™ technology to automatically send digital alerts to nearby drivers and other emergency vehicles when responding to an emergency.
Major market players are involved in partners and collaborations, in order to gain a competitive edge in the market. For instance, in April 2020, Hagerty Consulting partnered with Kaufman Hall to help healthcare organizations implement COVID-19 recovery strategies.
Market Restraint
Uncertainty in government budget allocation is expected to hamper the U.S. emergency management services market growth over the forecast period. Decline in the U.S. government budget spending, budgetary priorities, changes in areas of spending, failure to approve U.S. government budgets on a timely basis, delays in contract awards, and procurement of grants and contract documentation are expected to hamper the U.S. emergency management services market growth in the near future.
U.S. Emergency Management Services Market - Impact of Coronavirus (Covid-19) Pandemic
Since the outbreak of the COVID-19 pandemic, many industries and markets have witnessed sharp decline in growth. However, emergency management services have become one of the most critical part of COVID-19 management. Emergency management services including activities to prepare, respond, mitigate, and recover from potential harm. Hospitals used EMS solutions for overall planning and response to COVID-19 emergencies when there was a massive surge of new patients. Moreover, many organizations have started adopting EMS solutions, in order to be best prepared for any emergency situations.
To know the latest trends and insights prevalent in the U.S. Emergency Management Services Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-emergency-management-services-market-4963
Key Takeaways:
- The U.S. emergency management services market was valued at US$ 12,819.80 Mn in 2020 and is forecast to reach a value of US$ 23,369.89 Mn by 2028 at a CAGR of 7.80% between 2021 and 2028. This owing to increase due to rising geriatric population across the U.S.
- The Emergency Operation Services segment was valued US$ 4,133 Mn in 2020 and is expected to witness a CAGR of 9.70% over the forecast period. This is owing due to increase in need for safety and security solutions for people across U.S
Market Trends
Many companies across the market are focused on investing in new business ventures, in order to gain a competitive edge in the market. For instance, in September 2015, The Department of Homeland Security (DHS) invested US$ 50 Mn over the next five years in order to develop cutting-edge emergency response technologies for smart city projects. Since 2010, IBM has invested around US$ 30 Bn in these areas and built an IBM Cloud on a global scale.
Key players in the market are focused on collaboration and partnership activities, in order to gain a competitive edge in the market. For instance, in May 2016, the company partnered with AECOM, a U.S.-based multinational engineering firm, in order to provide disaster recovery support services to communities in Texas impacted by severe storms, straight-line winds, tornadoes, winter storms, and flooding. Moreover, in November 2015, the company partnered with Huawei in order to provide smart city solutions to improve collaboration and leverage big data analytics to better predict, prepare, and respond to urban emergencies.
Competitive Section
Key players operating in the U.S. emergency management services market are IBM Corporation, Witt O’ Brien, Atos SE, Hagerty Consulting, West Central Environmental Consultants, Willdan Group, Inc., Dewberry, Honeywell International Inc., Dynamiq Strategy Pty. Ltd, Hexagon AB, and HSS Inc.
