The Global Homeland Security And Emergency Management Market was worth USD 623.1 billion in 2020, and it is foreseen to reach a valuation of USD 846.5 billion, registering at a CAGR of 6.3% during the conjecture period 2021-2026.
Homeland security and emergency management are designed to provide the safety and well-being of citizens in disasters and emergencies. It also manages and starts based on information provided by local authorities or government agencies. Basically, the emergency management system is supposed to respond within 24 hours. This includes examples of natural disasters such as storms, hurricanes or chemical spills, floods, and accidents at nuclear power plants. National Security manages cases of prevention and response against terrorist attacks and cyber-attacks.
Market Drivers and Restrains:
The increasing occurrence of natural disasters as climatic conditions change around the world is a key factor driving the growth of the global Homeland Security and Emergency Management market. Also, the growing political and civil unrest between countries is another factor driving the growth of the global market. Terrorist threats, bombings, mass shootings or cyberattacks are factors driving the growth of the target market. Advanced security and surveillance devices to help prevent and activate immediate rest in an emergency. Also, the use of smart devices for providing information and preventive measures in the event of such an attack or disaster is a factor that is expected to strengthen the growth of the global Homeland Security and Emergency Management market in the near future. However, increased digitization and equipment upgrades can create huge revenue opportunities for players in target markets. The increased acquisition of enhanced security systems to block the threat of terrorist attacks has acted as a factor driving the growth of the Homeland Security and Emergency Management business. Cyber threats are growing at a rapid rate as digitization increases. This is estimated to force countries around the world to strengthen cybersecurity to protect the IT infrastructure of government organizations and the private sector. However, the limited budget provided for national security and emergency management can hamper the growth of the global Homeland Security and Emergency Management market. In addition, the slow adoption of advanced security systems by government departments is another factor that could influence the growth of the global Homeland Security and Emergency Management industry.
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Report is segmented as:
On the vertical side, the market is expected to be dominated by the Homeland Security sector from 2021 to 2026, which can be attributed to increased adoption of advanced identification and biometric technologies. Depending on the end use, the Homeland Security and Emergency Management market is expected to be driven by law enforcement and intelligence from 2021 to 2026. Its main function is to prevent and minimize the impact of terrorist attacks, cyberattacks and natural disasters.
North America currently holds the substantial share of the global homeland security and emergency management business. This is primarily due to investments in national and public security by the governments of the United States and Canada. The Asia Pacific region is supposed to be one of the fastest growing regions during the foreseen period, and the presence of India, China, Japan, South Korea and Taiwan markets is driving the Homeland Security and Emergency Management market. On the other hand, the Middle East, Africa and South America markets are estimated to expand at a modest rate during the forecast period.
Key market players:
Key players in the Homeland Security and Emergency Management market includes Thales Group, IBM, FLIR Systems, Raytheon Company, Elbit Systems, Lockheed Martin, BAE Systems, Unisys, SAIC, Boeing, Harris Corporation, Northrop Grumman, Honeywell International, General Dynamics, Booz Allen Hamilton, Leidos, and Hewlett Packard.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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