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Flood Warning Systems Market Segmented By Component such as Hardware, Flood Warning Software and Services used by Government, Agriculture, Media, Inland Fisheries, Tourism and Outdoor Entertainment, Transport & Logistics
The flood warning systems market is projected to enhance at a CAGR of 7.6% during the forecast period 2021-2031. As per the analysis, the global flood warning systems market is expected to experience an increase over the forecast period due to various factors such as real-time flood monitoring and warning system and an increasing number of natural disasters with time.
There is increased government focus towards preventive steps for flood and other natural disasters, is one of the major factor driving the demand for flood warning systems.
Nowadays, incidents of natural disasters have increased over the years. Owing to the rising global warming and imbalance environmental cycle has increased the several numbers of water-related natural disasters.
The floods are a serious and major disaster, which results in vast economic losses and loss of life. Hence, to prevent such losses has led to an increase in the demand and need for real-time flood warning systems and flood monitoring systems that can detect the threat of upcoming floods, that helps reduced direct as well as indirect losses.
The adoption of sensor technologies in flood warning systems such as visibility sensors, temperature sensors, and flood warning sensors, etc. to monitor and warning the flood conditions are integrated into the flood warning systems which is the major trend in the flood warning systems market.
It also offers various features such as communication or dissemination of alerts and warnings, analysis, monitoring, and forecasting of the hazards, and others. The reliability of such features drives the growth of the flood warning systems market.
Growing demand for advanced mobile mapping system and technological advancements, emergence of the mobile light detection and ranging (LiDAR) systems with a sensor technology, such major factors fueling demand for Flood Warning Systems across regions.
The conjunction of natural disaster situations during the COVID-19 contingency period is one of the primary contemporary concerns when managing emergencies at different scales of action. It has impacted both the end-users of agriculture, inland fisheries, and transport and logistics globally.
The disruption caused by the pandemic driven various key component suppliers and technology providers to reduced expenses and production in some major countries. Growing demand for advanced flood warning systems and technological advancements, early warning system for flood management, such major factors fueling demand for flood warning systems across regions.
Europe region is expected to have largest market share for flood warning systems, due to the strong presence of flood warning systems manufacturer in the region. This is attributed to the high increase in demand for flood warning systems for various end user such as government, media, agriculture, inland fisheries, transport and logistics, tourism and outdoor entertainment, among others.
Governments of European countries are adopting real-time flood monitoring & flood warning systems to overcome the risk of loss and manage such environmental problems. For instance, the U.K. Government introduced a long-term plan to defend homes and businesses in the U.K. from flooding erosion. The Government will invest nearly US$ 7.0 Bn in 2020 to tackle flooding.
The South Asia & Pacific region is expected to remain a key market in the global flood warning systems market. The region is expected to offer lucrative opportunities for leading market players owing to advanced devices installed on mobile phone for flood alerts, and reliable data loggers help collect transmit data in real time.
South Asia & Pacific will be projected to witness the high growth rate over the forecast period of 2021 to 2021 due to the vast number of flood-prone areas and imbalance infrastructure in the region. The presence of key market players such as ALS Limited, Fondriest Environmental, Inc., Xylem, and Taiwan Water & Soil Instrumentation, Inc., such major players contributing to the growth.
Some of the leading manufacturer and providers of flood warning systems include
The key providers of flood warning systems is continuously focusing on investing in new and emerging technologies/ service lines in order to leverage the experience and maturity of a very broad product line to offer customers a range of options.
For instance, in August 2020, National Disaster Management Authority (NDMA) and Energy and Resources Institute (TERI) have released a flood early warning system for Guwahati to aware local authorities about floods and heavy rainfall.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.