Major players in the emergency and other relief services market are The International Federation of Red Cross and Red Crescent Societies (IFRC), International Disaster Emergency Service, The American National Red Cross, The Salvation Army and Direct Relief.
New York, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Emergency And Other Relief Services Global Market Report 2020-30: COVID-19 Growth And Change" - https://www.reportlinker.com/p06001445/?utm_source=GNW
The global emergency and other relief services market is expected to grow from $81.48 billion in 2019 to $85.03 billion in 2020 at a compound annual growth rate (CAGR) of 4.36%. The growth is mainly due to the COVID-19 outbreak that has led to an increased need for emergency services to help the underprivileged get access to basic necessities. The market is expected to reach $109.21 billion in 2023 at a CAGR of 8.7%.
The emergency and other relief services market consists of the revenues from emergency and other relief services and related goods by entities (organizations, sole traders and partnerships) that provide food, shelter, clothing, medical relief, resettlement, and counseling to victims of domestic or international disasters or conflicts (e.g., wars). Only goods and services traded between entities or sold to end consumers are included.
The Asia Pacific was the largest region in the emergency and other relief services market in 2019.
Organizations in the emergency and other relief services market are integrating technology in their services for faster response and better reachability. For instance, in 2018, the American Red Cross of Alaska has used the RC view and RC Collect applications that help streamline some of its procedures. The use of RC View to help dispatch Disaster Action Teams (DAT) to emergencies and RC Collect for collecting information during damage assessments of homes and property after the disasters have significantly reduced response times and streamlined data collection.
The emergency and other relief services market covered in this report is segmented by service type into food; shelter; medical assistance; others and by category into short-term assistance; deferred assistance; long-term assistance.
The economic slowdown hampers the growth of the emergency and other relief services market. The market is dependent on individuals and businesses who contribute monetarily to support various causes to provide food, clothing and shelter to those in need. The economic slowdown caused by the pandemic or recession will significantly impact the market. According to the World Bank estimates, the global economy is expected to shrink by 5.2% in the year 2020. This will impact businesses at large and also impact the disposable income of individuals, reducing the donations received by organizations in the emergency and other relief services market.
The increasing support from large corporations and organizations in the form of funds, grants or programs is expected to drive the growth of the global emergency and other relief services market. Corporations and organizations are making efforts to meet the requirements of people affected by different disasters across the globe. For instance, the American Red Cross Organization has responded to a string of crises across the country, serving over 718,100 nourishing meals and snacks with its partners and providing more than 306,500 overnight shelters and hotel stays in coordination, with its partners, for those displaced by disasters. Therefore, the growing support from various individuals and corporations fuels the emergency and other relief services market.
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