Governments and the commercial sector increasing their investment to provide advance earthquake early warning systems
- An earthquake early warning system is a combined solution of sensors, seismometer, communication devices, computers, and alarm systems to detect and notify the earthquakes movement, in order to reduce the physical damage.
- The earthquake early warning system is primarily used in highly seismic active regions. Governments are adopting the earthquake early warning system to notify geologists and commercial sectors about the power of the earthquake and epicenter points.
- Several solution providers are expected to develop advanced solutions such as virtual seismometers, finite-fault rupture detectors, and earthquake early warning displays to improve the performance and accuracy of the earthquake early warning system.
- Governments and several private companies are installing earthquake early warning systems to protect infrastructure such as gas lines, fire stations, and elevators.
- IT and manufacturing companies are expected to install earthquake early warning systems to protect their vulnerable infrastructure with automated shutdown procedures.
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Key Drivers of the Earthquake Early Warning System Market
- Most Asian countries such as China, Japan, and Indonesia, and North American countries such as the U.S. are highly impacted by earthquakes and tremors. Governments and manufacturing companies are adopting the earthquake early warning system to reduce the physical damage by providing prior warning about earthquakes. Increasing demand for security in residential and commercial sectors is expected to drive the market growth.
- The increasing demand for earthquake early warning systems creates revenue opportunities for the other supporting component manufacturers such as sensors, monitors, and seismometers.
High installation and maintenance cost to impact the demand for earthquake early warning systems
- The earthquake early warning system is an advanced technology to prevent physical damages during an earthquake. The cost of all technologically advanced equipment used for earthquake early warning systems is high as compared to other equipment used in conventional warning systems. It also requires regular maintenance to improve the performance, which is expected to increase the overall operation and maintenance cost.
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North America to hold major share of the global earthquake early warning system market
- North America is expected to hold a prominent share of the earthquake early warning system market. In North America, most of the companies and governments are investing on earthquake early warning systems to improve the security of residential apartments, manufacturing units, and office premises during an earthquake.
- The earthquake early warning system market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period due to increasing demand for advance earthquake early warning systems in Asian countries, such as Indonesia, Taiwan, China, and Japan. Moreover, rise in construction activities in major Asia Pacific countries due to initiatives for smart city projects is expected to drive the demand for earthquake early warning systems.
Global Earthquake Early Warning System Market- Competitive Landscape
- In 2018, the California Integrated Seismic Network invested in an earthquake early warning system to improve prior notification system for earthquake.
- In 2017, Pacific Northwest Seismic Network announced the integrated west coast earthquake early warning system to identify seismic activity to analyze and forecast an earthquake.
Key players operating in the global earthquake early warning system market:
- Seismic AI
Seismic AI is a global provider of earthquake early warning systems. The company offers solutions integrating collected seismic detection technologies, machine learning, academic support, and extremely low latency. The company has a strong geographical network system to identify and provide notification about earthquakes at the regional and local level. It provides shake maps for better understanding of the earthquakes and epicenter point.
- GeoSIG Ltd
GeoSIG Ltd. is a global provider of seismic, earthquake, static & dynamic monitoring, and earthquake measuring solutions. The company is a global leader in design and manufacturing of earthquake and vibration monitoring systems. It has a geographical presence in more than 100 countries across the globe and offers industrial facility seismic monitoring and shutdown systems, and structural health and response monitoring systems to improve the performance of the earthquake monitoring equipment.
Key players operating in the global earthquake early warning system market includes Kinemetrics, Inc., Seismic Warning Systems Inc., Zizmos, Inc., and JenLogix Ltd.
Global Earthquake Early Warning System Market: Research Scope
Global Earthquake Early Warning System Market, by Component
Global Earthquake Early Warning System Market, by Application
- Commercial Infrastructure
- Schools & Education Infrastructure
- Chemical Plants
- Manufacturing Plants
- Nuclear Power Plant
Global Earthquake Early Warning System Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Earthquake warning system
- Locating and measuring earthquakes solution
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