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IN THE NEWSThe global emergency notification systems in educational facilities market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for efficient mass notification systems in educational institutions, backed by growing number of students across the world. The data by the World Bank stated that population of children below 14 years of age comprised 25.491% of the total global population in 2020.The need for emergency notification or communication system in case of fire, earthquake, attacks and others, is increasing, which, in turn, is estimated to upsurge the market growth. Moreover, rapid digitalization of the education sector, along with growing usage of smartphones, is estimated to boost the market growth. Furthermore, the COVID-19 pandemic has shifted educational facilities to online education, where the dependance on technology has reached a never-before scale. This is further estimated to boost the market growth.
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The market is segmented by deployment mode into on-premise, cloud-based, and others, out of which, the cloud-based segment is anticipated to hold the largest share in the market over the forecast period on account of currently functioning online schooling, increasing trend of remote learning and e-learning, and availability of smart phones, tablets or laptops to a major share of students. However, the on-premise segment is estimated to gain significant growth once the education system regains the offline schooling methods.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global emergency notification systems in educational facilities market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region witnessed or is estimated to witness modest growth over the forecast period on the back of increasing investment in technological development and upliftment of educational sector. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the higher adoption of advanced technologies, along with increasing prevalence of cyclones and other natural disasters. Moreover, government and various NGOs are working towards preparing educational institutions to respond safely in cases of emergencies. This is estimated to fuel the regional market growth.
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The global emergency notification systems in educational facilities market is further classified on the basis of region as follows:
Our in-depth analysis of the global emergency notification systems in educational facilities market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing need for mass notification system for the safety of students to boost the growth of the market.
The market is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2022 – 2030.
Slow implementation in developing countries is estimated to hamper the market growth.
The market in the North America will provide more business opportunities for growth owing to the higher adoption of technology in the region.
The major players in the market are Google LLC, IBM, SnapComms Inc, Siemens AG, Rave Mobile Safety, Honeywell International Inc., Regroup Mass Notification, Blackboard Inc., Alertus Technologies LLC., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by components, deployment mode, end-user, and by region.
The software segment is anticipated to hold largest market size in the market over the forecast period owing to the increasing use of smartphones amongst students.
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