The global Mass Notification Systems Market is estimated to be valued at US$ 5,434.20 million in 2022 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mass notification systems (MNS) refer to communication solutions that enable organizations to send out mission-critical information to a targeted group of individuals through various communication channels such as text messaging, email, voice messaging, digital signs, and social media in case of an emergency or crisis. They offer a platform for emergency notification and communication that provides critical information to targeted groups during a crisis. MNS play a vital role in security and risk management by providing timely alerts and instructions to employees, students, and general public in the event of disasters such as fires, active shooters, floods, chemical spills, and cyberattacks.
Market key trends:
One of the key trends in the mass notification systems market is the increasing adoption of IP-based notification systems. IP-based notification systems leverage computer networks and the internet to disseminate information via various communication channels. They provide higher scalability, flexibility, and ease of use compared to traditional analog systems. IP-based MNS solutions are gaining popularity as they enable mass notification from a centralized location using a standard web browser. They integrate with building automation and access control systems for enhanced security. The market is also witnessing the growing demand for multimodal notification systems that can reach people through a combination of channels simultaneously or sequentially. This helps ensure the message is conveyed effectively to its intended target group.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the mass notification systems market is moderate. Establishing a brand new mass notification platform requires huge capital investments and regulatory compliances which deter new companies from entering this market.
Bargaining power of buyers: The bargaining power of buyers in the mass notification systems market is high. Buyers can negotiate on price and pick from a variety of available solutions in the market. With increasing competition, buyers now have more control over price negotiation.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While suppliers have bargaining power due to proprietary technologies, established mass notification system providers can switch to alternative suppliers if needed.
Threat of new substitutes: The threat of substitute products and services is low. There are limited alternatives to mass notification systems that can effectively reach a large targeted population during emergencies.
Competitive rivalry: The competitive rivalry in the mass notification systems market is high with the presence of many international players offering varied products.
Key Takeaways
The Global Mass Notification Systems Market Size is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period 2023 to 2030, due to increasing need for communicating with employees and citizens during emergencies.
The North American region dominates the mass notification systems market currently with the largest market share. Growth in the region can be attributed to stringent government regulations emphasizing emergency preparedness. The Asia Pacific region is expected to be the fastest growing market owing to rapid urbanization and rising safety concerns in developing countries.
Key players operating in the mass notification systems market include AtHoc, Inc.–(BlackBerry Limited), F24 AG, Eaton Corporation plc, xMatters, Inc., Honeywell International, Inc., Omnilert, LLC ̧ IBM Corporation, Mir3, Inc., Siemens AG, Metis Secure Solutions, LLC, and Everbridge, Inc. These players are focusing on new product launches and partnerships to strengthen their position in the mass notification systems market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it