New York, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global computer aided dispatch market size is slated to expand at ~14.80% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 15.51 billion by the end of 2035, up from a revenue of ~USD 2.96 billion in the year 2022.The major element to influences the market revenue is the surge in the number of cybercrimes. Based on the FBI's internet crime records and about 800,943 complaints filed in 2022, cybercrime data suggests at least 421 million people were affected. In 2023, there will be breaches into about 32 billion accounts, with an estimated USD 7 trillion in losses. Hence, the demand for computer aided dispatch is surging.
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Additionally, there has been a surge in government initiatives to tackle the issue of cyber-crimes. Hence, they are initiating various activities which might further influence the market expansion. The Power-CSIRTs (Computer Security Incident Response Teams in the Power sector) and the Indian Computer Emergency Response Team (CERT-In) collaborated to effectively design and run the Cyber Security Exercise "PowerEX" for 193 invited Power Sector Utilities in 2022, in India. On the exercise day, the Power-CSIRT officials' Exercise Planner Team collaborated with the CERT-In team as Exercise Coordinators. "Recognize, Analyze & Respond to Cyber Incident in IT & OT Systems" was the exercise's goal.
Surge in Number of IoT Connected Devices to Boost the Growth of Global Computer Aided Dispatch Market
There are roughly 14 billion IoT devices connected at the moment. With this, the process of computer aided dispatch had become easier. Manufacturers may profit from incorporating CAD/CAM data with IoT and cloud platforms in a number of ways, including increased product performance and quality from real-time data from IoT sensors, improved functioning flexibility and efficiency from cloud-based CAD/CAM software, decreased costs and waste from resource optimization, and accelerated innovation and competitiveness through quicker and more accurate design iterations. Manufacturers may additionally employ data-driven insights and feedback to enhance their processes and goods.
Computer Aided Dispatch Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surge in Military Spending to Drive the Expansion the Market in North America
The computer aided dispatch market in North America is set to gather the highest share of about 34% over the forecast period. This growth could be owing to rising spending on military. In 2022, the US dominated the list of countries allocating the biggest sum of money to the armed forces, with over 876 billion dollars. The utilization of computer-aided dispatching, or CAD, is essential in modern public safety organizations. Hence, with the growing investment in defense the adoption of computer aided dispatch is growing in this region.
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Growth in Internet Users to Influence the Market Growth in Asia Pacific
The computer aided dispatch market in Asia Pacific is estimated to have a significant share of about 28% over the forecast period. This growth of the market is projected to be influenced by the rising number of internet users. The Asia-Pacific area experienced an unprecedented increase in internet users in 2022, with over 3 billion users. China and India accounted for half of these users. Hence, this has further given scope to several cyber-crimes. As a result, the market demand for computer aided dispatch is growing.
Computer Aided Dispatch, Segmentation by Component
- Software
- On-Premise
- Cloud-Based
- Services
The software segment is further segmented into on-premises and cloud-based. Out of which, the on-premise segment is estimated to capture the highest market share of about 54% over the forecast period. However, the cloud-based segment is also projected to experience growth. This could be owing to rising popularity of cloud. Currently, over 49% of company data is handled and stored in the cloud in the world.
Computer Aided Dispatch, Segmentation by Application
- Public Safety
- Call Management
- Government & Defense
- Dispatch Unit Management
- Transportation
- Power Utilities
- Healthcare
The government & defense segment is projected to generate the highest market share of about 35% over the coming years. The major element to influence the segment expansion is growing cyber-attack on government agencies such as police, fire department, and more. In the second half of 2022, India, the US, Indonesia, and China accounted for about 44% of the overall cyberattacks on government entities globally.
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A few of the well-known industry leaders in computer aided dispatch market that are profiled by Research Nester are Hexagon Safety & Infrastructure, Mark43, Inc., Motorola Solutions, Inc., Spillman Technologies, Inc, Traumasoft, Tyler Technologies, Harris Computer, RapidDeploy, Inc., Nuance Communications, Inc., Priority Dispatch Corp, and others.
Recent Development in the Market
- Hexagon Safety & Infrastructure has launched HXGN OnCall, a suite of next-generation public safety solutions. Users will be able to access vital public safety data, including 911 calls, police enforcement records, and live video, instantly thanks to the system's design.
- Leading supplier of cutting-edge dispatching solutions for the public and commercial sectors, Avtec, Inc. (US), was purchased by Motorola Solutions, Inc. The software portfolio of Motorola Solutions will be further strengthened by this acquisition, enabling the business to provide its clients with more sophisticated and all-encompassing software solutions.
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