Intelligent Emergency Response Systems and Infrastructure (IRIS) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Intelligent Emergency Response Systems and Infrastructure (IRIS) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Intelligent Emergency Response Systems and Infrastructure Market size is estimated at USD 1.36 billion in 2024, and is expected to reach USD 1.88 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).

Intelligent emergency response system and infrastructure (IRIS) comes into effect during emergencies, either natural catastrophes or human-made. During such situations, the respective health and public administration bodies are alerted using IRSIs. It is directly linked to the telecommunication and satellite ecosystems that have been enhanced immensely for superior data transmission and accurate image capture.

Key Highlights

• The increase in industrial accidents has made the governments make stringent norms for labor safety. Hence, industries are adopting Intelligent Emergency Response Systems and building safer infrastructures.
• In Japan, there were about 450 fatalities due to industrial accidents in 2017. The major concern is the quick response action that can be achieved by the installation of IRIS.
• The increasing awareness about the importance of security, replacement of obsolete architecture, and the rise in hazardous industrial explorations, among other factors, are expected to drive the demand for IRIS in the near future.

Intelligent Emergency Response Systems & Infrastructure Market Trends

Surveillance Systems to Show Significant Growth

• Security and safety are the prime concerns of any organization across the industries. To monitor and overcome the threats, concrete surveillance systems are installed, so that quick responsive actions can be made. Hence, there has been a steep increase in the demand for these systems.
• Though the popularity of wired video surveillance increased dramatically, it is expensive to install as well as a time-consuming task. Hence, for large infrastructures, wireless emergency response systems are needed to overcome the aforementioned disadvantages.
• In 2018, there has been an increase in reported violent crimes by 19%, as recorded by the police in the United Kindom from 2017. However, the number of homicides, including murders and manslaughter, increased by 14%.
• The structure of these systems became compact. Moreover, they are now cheaper to manufacture due to developments in MEMS technology. These are some of the factors enabling the adoption of IRISs. This factor, in turn, adds to the growth of the market.

The Asia-Pacific to be a Fastest Growing Market

• Asia-Pacific is expected to witness the fastest growing market for the intelligent emergency systems and infrastructure market. This is due to the technological advancements and their adoption in the region.
• The awareness about the advantages of IRIS has been increasing globally, mainly because of the rapidly growing smart-city projects in countries like India. Hence, the growth of the market in this region is expected to be substantial.
• the governments in the region are also investing in IRIS to tackle the natural calamities. The Government of India allocated rupees 321 crores for the implementation of emergency response systems across the country.

Intelligent Emergency Response Systems & Infrastructure Industry Overview

The companies that offer various types of IRIS systems have little product differentiation. Hence, the companies are adopting competitive pricing strategies for gaining market shares. The IRIS market is fragmented, owing to the presence of many players offering the systems.

• April 2019 - ST Engineeringintroduced first everFibre Bragg grating (FBG) based AgilFence Buried Intrusion Detection System (BIDS) for perimeter security. AgileFence BIDS is a combination of fiber optic sensors and advanced signal processing algorithms to provide instantaneous and accurate detection of footsteps that cross unfenced boundary lines.
• Jan 2019 - Axis Communications launched explosion-protected cameras for hazardous environment.These cameras are equipped with the i-CS lenses that adjustfocus automatically on the subject.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support