Us Emergency Management Services Market will be valued at 13,954 Mn
Posted by Pradnya on July 31st, 2019
According to a recent market report published by Persistence Market Research titled, “Emergency Management Services Market: U.S. Industry Analysis and Forecast, 2016–2024”, the U.S. emergency management services market was valued at US$ 7,100 Mn in 2015, and is expected to register a CAGR of 7.8% from 2016 to 2024. The market will be valued at 13,954 Mn at the end of the forecast period in 2024.
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An increase in aging population in the U.S. and increasing number of people residing in more densely populated urban and coastal areas results in higher concentrations of individuals and assets in a particular area which increases vulnerability due to impact from severe weather and other calamities. This is a major factor which drives the U.S. emergency management services market.
In addition, growing levels of threats related to increased disaster, terror attacks, biological hazards, and shootings in the U.S. are expected to drive growth of the emergency management services market in the U.S. to a significant extent in the near future. Increase in complexity and uncertainty of disasters and uncertainty in government budget allocation are the key factors expected to restrain the growth of the U.S. emergency management services market over the forecast period.
A growing number of smart city initiatives in the U.S. is anticipated to create lucrative opportunities for various key players operating in the U.S. emergency management services market over the next eight years. Also, big data and analytics solutions can be utilized to analyze the vast volumes of data generated and gathered during disaster response activities and be effectively validated in order to plan and implement efficient measures to respond to such calamities. These are some of the trends likely to govern the U.S emergency management services market in the near future.
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Joined: February 3rd, 2017
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