Month: March 2024

“Microsoft (US), VMware (US), Rackspace (UK), Check Point (Israel), F5 (US), Amazon Web Services (US), Fujitsu (Japan), Entrust (US), Google Cloud (US), Cloudflare (US), IBM (US), Cloud4C (Singapore), Proofpoint (US), Lacework (US), BMC Software (US), SonicWall (US), Atos (France), Imperva (US), Micro Focus (UK), Aqua Security (Israel), and AccuKnox (US).”

MarketsandMarkets forecasts that the global multi-cloud security market would grow from an estimated USD 4.4 billion in 2022 to USD 10.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2027. Rising need for unified multi-cloud security solutions due to increasing cyberattacks, and the growing government support for deploying multi-cloud security solutions are some of the factors driving the market growth.

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What is Multi-Cloud Security?

According to MarketsandMarkets, multi-cloud security is a cloud security solution and service that protects multiple public cloud platforms. The solution protects cyber breaches across multiple cloud infrastructures and caters to applications such as network security, endpoint and IoT device security, and application security.

By organization size, large enterprises to account for a larger market size during the forecast period

According to the Organization for Economic Co-operation and Development (OECD), large enterprises employ more than 250 people. Large enterprises have rapidly started adopting multi-cloud systems over traditional on-premises methods. These large enterprises have various department verticals performing different operations, which makes it difficult for the organization to maintain the security posture of the entire organization. The pandemic led to organizations rapidly adopting the work-from-home (WFH) trend. Large enterprises increasingly deploy cloud-based solutions due to increased scalability and lower maintenance costs. Organizations are increasingly using multi-cloud deployments with benefits including minimizing vendor lock-in, leveraging best options as per requirements, and meeting regulatory requirements. According to IBM’s report Cloud’s next leap, the percentage of respondents claiming a single public cloud as their primary archetype dropped from 16% in 2019 to 2% in 2021, with the growing use of multi-cloud deployments. Organizations are increasingly adopting multi-cloud security solutions to maintain the vital security posture of multi-cloud deployments.

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By vertical, BFSI to account for the largest market size during the forecast period

BFSI consists of banking, financial services, and insurance. Despite the size and business mix, most financial institutions have increasingly started adopting cloud and multi-cloud computing solutions. There are cost benefits when scaling, deploying new services, and innovating. Banks and financial institutions are increasingly moving their data to the cloud environment amid the COVID-19 outbreak. There are security and resiliency benefits that can be difficult and expensive to replicate on-premises, especially for smaller institutions trying to keep pace with the rapidly changing standards. However, as the industry continues to embrace cloud services, regulators are becoming more aware of the challenges associated with cloud computing, especially those that could expose financial institutions to systematic risks potentially undermining the financial system’s stability. With the widespread adoption of cloud computing platforms, finance and insurance companies must meet the highest security standards set by monetary regulatory authorities. There is a constant need for proper security measures and vigilance to protect organizations from potential cloud attacks on multi-cloud deployments in the vertical. Multi-cloud security solutions are being implemented to help maintain the organization’s security. Different government mandates, such as the Personal Information Protection and Electronics Document Act (PIPEDA) and PCI DSS, necessitate financial institutions to comply with these standards. There is an increasing need for cybersecurity solutions and services in the BFSI vertical to combat the rising number of physical and cyber-attacks on critical infrastructures.

Unique Features in the Multi-cloud Security Market 

A single dashboard and tools for centralised insight into security postures across several cloud platforms are provided by multi-cloud security solutions. This makes it possible for businesses to regularly oversee and manage security procedures.

In order to ensure compatibility and optimisation for each platform’s native security features, multi-cloud security is designed to make use of cloud-native security controls and services offered by various cloud providers.

Interoperability is emphasised by solutions in the multi-cloud security industry, enabling enterprises to easily integrate security tools and policies across many cloud environments without encountering compatibility problems.

Comprehensive compliance management capabilities are offered by multi-cloud security solutions, guaranteeing conformity to industry standards and legal obligations on a variety of cloud platforms.

Organisations may stay informed about the most recent cyberthreats and vulnerabilities by integrating dynamic threat intelligence feeds, which enables proactive threat detection and response across various cloud environments.

Major Highlights of the Multi-cloud Security Market

The rising adoption of multi-cloud environments by enterprises of all sizes and across several industries is driving the market for multi-cloud security solutions, which is expanding at a rapid pace.

Multi-cloud security solutions offer centralised visibility, policy management, and control across different cloud platforms, thereby mitigating the complexity of safeguarding heterogeneous cloud environments.

Multi-cloud security solutions ensure the security and integrity of data and applications across various cloud environments by providing all-encompassing defence against a broad variety of cyber threats, such as malware, data breaches, insider threats, and compliance violations.

Interoperability is a key component of multi-cloud security solutions, which enable enterprises to easily and effectively integrate security tools and policies across various cloud platforms without running into compatibility problems.

With the help of unified security management capabilities offered by multi-cloud security solutions, enterprises may oversee, control, and impose security rules uniformly across several cloud environments from a single dashboard or console.

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Competitive overview:

The multi-cloud security market is led by some globally established players, such as Microsoft, VMware, Rackspace, Check Point, F5, and others. These players have adopted various growth strategies, such as partnerships, agreements, collaboration, acquisitions, and product developments, to increase their market presence.

Microsoft develops and supports software, services, devices, and solutions, including computer software, consumer electronics, personal computers, and related services. The company offers various services, including cloud-based solutions that provide customers with software, services, and platforms, along with solution support and consulting services. The company’s products include operating systems, across-device productivity and collaboration applications, server applications, business solutions, desktop and server management tools, software development tools, and video games. The company also designs and sells devices, including PCs, tablets, gaming and entertainment consoles, intelligent devices, and related accessories. In the multi-cloud security market, it provides Microsoft Defender for Cloud. Microsoft Defender for Cloud is a unified cloud-native platform that helps strengthen the security posture, enables protection against modern threats, and helps reduce risk throughout the cloud application lifecycle across multi-cloud and hybrid environments. It provides unified visibility of security posture across Azure, AWS, Google Cloud, and hybrid clouds; offers real-time security access and prioritization of critical tasks; provides integrated XDR solution across multi-cloud workloads to prevent, detect, and respond to attacks; and provides centralized insights across multipipeline and multi-cloud DevOps to improve application development security.

Apart from large vendors, some SMEs and startups, such as Aqua Security, Aviatrix, Saviynt, Tufin, Distology, are also evolving in the multi-cloud security market.

Another important player in the multi-cloud security market is Aqua Security. Aqua Security is a cybersecurity company that helps organizations secure their containers, serverless functions, and cloud VMs. The company provides products and solutions for software supply chain security, container security, Kubernetes security, CSPM, vulnerability scanning, container security, serverless security, and VM security. In the multi-cloud security market, it provides the Aqua Platform. Aqua Security provides full lifecycle security controls for containers and serverless functions and compatibility and integrations with cloud providers.

According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 50-60% relatively in the period of 2020-2021. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onward, companies are expected to follow organic growth strategies to provide multi-cloud security solutions and services to end users, which, on the other hand, would help companies in increasing their market revenue.

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“Motorola Solutions (US), AT&T (US), Intrado (US), Hexagon (Sweden), Esri (US), Sinch (Sweden), Atos (France), Comtech (US), Zetron (US), Everbridge (US), Avaya (US), Cisco (US), RapidSOS (US), NGA (India), Convey 911 (US), Boost Pro Systems (UK), Simoco Wireless Solutions (UK), SEON Group (Germany), Carbyne (US), RapidDeploy (US).”

The next generation emergency response system market size is projected to grow from USD 2.4 billion in 2023 to USD 3.3 billion by 2028, at a CAGR of 7.0% during the forecast period. Traditional 911 systems are limited in their capabilities, only supporting voice calls. Next generation emergency response systems, on the other hand, can handle text messages, videos, and photos, as well as data such as medical history and location information. This allows for richer communication and more informed decision-making by emergency responders.

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The global population is aging, and older adults are more likely to experience medical emergencies. This is driving the demand for emergency response systems that are specifically designed for the needs of the elderly, such as personal emergency response systems and remote patient monitoring systems.

Based on software, the  call management software holds the largest market size during the forecast period

In the next generation of emergency response systems, call management software is pivotal in optimizing the entire response process. By automating initial call handling stages, this software swiftly collects crucial information such as caller location and the nature of the emergency, minimizing response time and mitigating potential human errors. Its integration with location services enables precise identification of the caller’s whereabouts, ensuring prompt dispatch of emergency services. The software’s capability to analyze and prioritize incoming calls based on severity aids in efficient resource allocation. Multi-channel communication support allows the public to convey information through diverse mediums, facilitating comprehensive data exchange. Real-time collaboration features enable seamless communication among response teams, promoting effective coordination. Integration with other systems, such as GIS and surveillance cameras, enhances situational awareness.

Based on software, the multimedia support software is expected to grow with the highest CAGR during the forecast period

In the evolving landscape of emergency response systems, the integration of multimedia support software stands as a pivotal advancement. This advanced technology plays a vital role in enhancing the agility and efficacy of emergency responses. Real-time video and audio streaming, coupled with surveillance integration, empower responders with critical insights into the unfolding emergency. Geospatial information and mapping tools, facilitated by multimedia support, allow for comprehensive visualization of the emergency’s scope, aiding in resource optimization and evacuation planning. Multichannel communication, including text, voice, and video, ensures seamless coordination among responders and affected communities. The ability to monitor social media platforms for crowdsourced information enriches the understanding of dynamic situations. Multimedia tools further enable training through virtual reality simulations and augmented reality guidance, enhancing the preparedness of emergency responders.

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Unique Features in the Next Generation Emergency Response System Market

In order to help responders arrive at the scene swiftly and effectively, NGERS uses cutting-edge location tracking technologies like GPS, Wi-Fi, and Bluetooth to precisely locate the location of emergency situations.

In order to promote coordination and information sharing during emergencies, NGERS offer emergency dispatchers the ability to connect in real-time via phone, text, and multimedia messaging with responders, victims, and other stakeholders.

In order to provide responders with more information to make educated decisions, NGERS integrates with Internet of Things (IoT) devices like sensors, wearables, and smart devices to collect data in real-time about emergency situations, including environmental conditions, victim vital signs, and building structural integrity.

In order to foresee and anticipate emergency occurrences, NGERS uses artificial intelligence (AI) algorithms and predictive analytics to evaluate social media feeds, historical data, and other information sources. This allows for proactive response planning and resource allocation.

The ability to deliver emergency alerts and notifications to several channels, including social media, email, mobile phones, and public alert systems, is supported by NGERS. This ensures that vital information reaches impacted individuals and communities in a timely manner.

Major Highlights of the Next Generation Emergency Response System Market

NGERS uses cutting-edge location tracking technology, like GPS, Wi-Fi, and Bluetooth, to precisely locate emergency occurrences. This allows for quicker reaction times and more effective resource allocation.

In order to promote efficient coordination and information sharing during emergencies, NGERS offer real-time communication capabilities that enable emergency dispatchers, responders, and stakeholders to connect via voice, text, and multimedia messaging.

In order to collect real-time data concerning emergency circumstances, NGERS integrates with Internet of Things (IoT) devices like sensors, wearables, and smart devices. This allows responders to make better decisions and plans ahead for proactive response.

Predictive analytics and artificial intelligence (AI) algorithms are used by NGERS to evaluate past data and forecast disaster situations. This allows for early warning systems, resource allocation, and proactive response planning.

In order to ensure that vital information reaches impacted individuals and communities as soon as possible, NGERS supports multi-channel alerting capabilities. This means that emergency alerts and notifications can be sent to a variety of channels, including social media, email, mobile phones, and public alert systems.

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Top Key Companies in the Next Generation Emergency Response System Market

Various globally established players, such as Motorola Solutions (US), AT&T (US), Intrado (US), Hexagon (Sweden), Esri (US), Sinch (Sweden), Atos (France), Comtech (US), Zetron (US), and Everbridge (US), are dominating the next generation emergency response system market. To increase their market share in the next generation emergency response system market, these competitors have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

Motorola Solutions stands as a global leader in mission-critical communication solutions, renowned for its commitment to delivering advanced technologies catering to the specific needs of public safety agencies, government entities, and commercial enterprises. Specializing in two-way radios, software applications, and infrastructure solutions, the company ensures reliable communication in challenging scenarios. Its extensive product and service offerings include 911 call handling, digital evidence management, and a range of managed and support services. With a robust global presence, particularly in North America, Europe, and Asia-Pacific, Motorola Solutions continues to invest in research and development, staying at the forefront of innovation in the mission-critical communication sector. The company’s dedication to corporate social responsibility underscores its engagement in community initiatives, environmental sustainability, and ethical business practices.

AT&T, a leading multinational telecommunications conglomerate headquartered in the US, stands at the forefront of the industry with a diverse portfolio of services. Renowned for its wireless offerings, the company caters to both individual and business customers, providing mobile plans, smartphones, and related services. With a strong foothold in broadband and internet services, AT&T delivers high-speed connectivity, digital TV, and streaming options. Its business solutions encompass a wide range of communication and technology services, including network solutions, cybersecurity, cloud services, and collaboration tools. AT&T remains at the cutting edge of technology and innovation, actively participating in the development and deployment of 5G networks. Operating internationally, AT&T is recognized for its global reach while concurrently navigating the complex regulatory environment. Recent strategic shifts has seen the company’s focus on its core telecommunications business, adapting to industry changes. With the operation of FirstNet, a dedicated network for first responders, AT&T continues to play a vital role in enhancing emergency communication services.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/next-generation-emergency-response-system-market-180293657.html

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