Real-time Flood Monitoring and Warning System Market
Real-time Flood Monitoring and Warning System Market (Component: Hardware (Sensors, Dataloggers, Others), Software, and Services; Access: Web Browsers (Internet), Mobile Devices (WAP) (iOS, Android); End User: Government, Media, Agriculture, Inland Fisheries, Transport & Logistics, Energy, Construction, Tourism and Outdoor Entertainment) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
Real-time Flood Monitoring and Warning System Market - Government Initiatives to Underpin Deployments
In recent times, the most effective flood monitoring and warning systems extend beyond qualified staff to include telemetry equipment and gauges meant to receive the earliest sign of a flood. Numerous government organizations are coming forward to integrate flood warning systems near water bodies to predetermine the severity of floods and prevent the loss of life and property. The U.S. Geological Survey entered into a partnership with the National Oceanic and Atmospheric Administration to install flood warning systems across the country. Analyzing the steady flow of deployments, analysts of Transparency Market Research (TMR) estimate that, by 2027, the real-time flood monitoring and warning system market will arrive at a value of ~US$ 277 Mn.
Since 'efficiency' is of utmost importance in such systems, market players need to go by the quality standard book to deliver accurate outcomes. Hands-on experience on neoteric wireless technologies, including RF, GSM, and GPRS, in order to serve the best interest of end-users, will lead market players towards consolidation.
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Two Deployment Dilemmas that Await Technological Advancements
Amidst the above-average growth of the real-time flood monitoring and warning system landscape, market players need to be on their guard to map a seamless odyssey towards a consolidated position. One of the challenges being the failure of sensors when dust covers their surfaces. Since flood monitoring sensors are being installed inside as well outside the ground and water levels, there are high chances of dust layering on monitoring sensors, which could lead to inaccurate results.
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Another key challenge to the deployment of these systems is the incompetency of monitoring sensors in operating during instances of sudden shocks. A sudden shock may result in a high reading or can even cause damage to these sensors, which could break down the structure of real-time flood monitoring and warning systems. Currently, the impact of these challenges is moderate; however, in the future, the development of advanced sensors will be integral in offering accurate outcomes.
Technological Leaps to Catapult Growth of the Landscape
The increase in emergency management technologies is instigating the horizontal industry - electronics and semiconductors industry - to enhance the functionality and effectiveness of hardware components. Hefty investments are made by governments towards the deployment of advanced monitoring systems to prevent losses of epochal scale. With R&D initiatives, manufacturers are coming up with advanced components to incorporate in real-time flood monitoring and warning systems, and achieve precise readings. For instance, highly-efficient ultrasonic sensors are fast replacing normal sensors on account of the inherent competency of ultrasonic sound to propagate through any media.
Recent trends show that, self-owned systems offer better economic value and feasibility, while leased or rented ones rank lower in terms of both. Since these real-time flood monitoring and warning systems observe significant deployment for public safety, governments are the crucial end user of the industry, and any efforts made by taking a 'government-centric' approach will lead to a higher market share. In 2019, the government segment will account for ~42% of overall sales, following which, the agriculture and inland fisheries segment witnesses a staggering rise in the demand for real-time flood monitoring and warning systems, owing to business needs.
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Authors of the report foresee an above-average growth of the real-time flood monitoring and warning market, at a CAGR of ~6% during 2019-2027, and this is majorly attributable to the growing consciousness among governments regarding public safety. While self-owned real-time flood monitoring and warning systems are significantly popular among countries that are most prone to floods, usually those in Asia Pacific, manufacturers can initiate rental and leased services of these systems in countries that are less prone to floods, such as Bahrain, Qatar, and Estonia. An investment made towards initiating skill development programs can help market players serve end users in a better way. In addition, product innovation aimed at achieving utmost product accuracy will be the key competitive parameter for market players.
Real-time Flood Monitoring and Warning System Market in Brief
- The real-time flood monitoring and warning system market is expected to register a CAGR of ~6% between 2019 and 2027. The real-time flood monitoring and warning system market is projected to be driven by the increasing need to monitor floods on a real-time basis to reduce economic losses.
- The global real-time flood monitoring and warning system market is expected to reach ~US$ 277 Mn by 2027 from ~US$ 176 Mn in 2019. Increasing number of natural disasters due to unstable environmental conditions are boosting the real-time flood monitoring and warning system market.
- The real-time flood monitoring and warning system market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by North America.
- North America remains the dominant leader in the global real-time flood monitoring and warning system market, with revenues in 2019 estimated at ~US$ 66 Mn. Huge economic losses as well as loss of life due to flooding in the coastal regions of North America are expected to exponentially drive the real-time flood monitoring and warning system market.
- Asia Pacific is projected to see significant growth in the global real-time flood monitoring and warning system market during the forecast period. The demand for real-time flood monitoring and warning systems is high due to the large number of flood-prone areas as well as improper infrastructure in the region.
Real-time Flood Monitoring and Warning System Market Definition
- The real-time flood monitoring and warning system market report provides analysis of the market for the period 2017–2027, wherein, 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- Governments are deploying real-time flood monitoring & warning systems as they face huge economic as well as human loss during flooding. The cost benefit ratio of a real-time flood monitoring & warning system is high as compared to other environmental monitoring systems.
Asia Pacific Real-time Flood Monitoring and Warning System Market– Snapshot
- Asia Pacific is one of the fastest growing regions in the world. Growing investments from international organizations such as the World Bank to Asia Pacific countries such as Bangladesh, Indonesia, China, and India is boosting the CAGR within this region.
- Asia Pacific is most prone to floods; multiple international organizations support countries within Asia Pacific to deploy real-time flood monitoring and warning systems to manage such conditions.
Key Growth Drivers of Real-time Flood Monitoring and Warning System Market
- Rising Number of Natural Disasters– Over the years, the number of incidents of natural disasters has increased. Imbalance in environmental cycles and rising global warming have increased water-related natural disasters. Floods are one of the common and major disasters that result in huge economic as well as human loss. High volume loss has led to rise in the demand and need for real-time flood monitoring and warning systems that have the ability to detect the threat of upcoming floods, and reduce both, direct as well as indirect losses.
- Increased Government Focus on Preventive Steps Towards Floods and Other Natural Disasters– The governments of many countries in Asia Pacific as well as across the globe have increased their focus on taking preventive steps to deal with natural disasters such as floods and earthquakes. Major customers of real-time flood monitoring and warning systems across the globe are government and public organizations. The governments of various countries are installing real-time flood monitoring and warning systems to manage this environmental problem and reduce the risk of loss. The increased need to prevent floods and take proper measures prior to their occurrence is increasing the demand for real-time flood monitoring and warning systems.
Key Challenges Faced by Real-time Flood Monitoring and Warning System Market Players
- The structure of a real-time flood monitoring and warning system has sensors as a major component, to send signals to the desired end users. A major issue of sensors is in a situation of sudden high reading. Moreover, in a state of sudden shock, sensors may not always provide correct readings. Sensors may get damaged during an impulsive reading, hampering the structure of real-time flood monitoring and warning systems.
Real-time Flood Monitoring and Warning System Market– Competitive Landscape
- In August 2019, the Water Resources Management Agency (WRMA) and Saint Lucia Meteorological Services announced the deployment of a real-time flash flood and mudslide warnings system for communities at risk on the Saint Lucia island.
- In March 2019, Vietnamese and American researchers collaborated to develop a satellite-based system to monitor transboundary flooding, majorly focused on monitoring the river basins of the Red and Mekong rivers.
- In September 2018, India's first comprehensive city-level flood forecasting and warning system was installed in Kolkata. The design and implementation of this system has been funded by the Asian Development Bank (ADB).
Real-time Flood Monitoring and Warning System Market - Company Profile Snapshot
- Vaisala: Established in 1936, Vaisala is a global leader in developing and manufacturing environmental and industrial measurement instruments. These instruments are majorly used in industrial processes for weather-related phenomena, and to measure environmental conditions. The company has a strong geographical presence across the globe, with presence in nearly 18 countries. In 2018, the company invested nearly 13.0% of its net sales into research & development. It holds an on-time delivery accuracy rate of 94.5%. The company majorly caters to meteorology, renewable energy, aviation, ground transportation, maritime, and the ambient air quality market.
- Taiwan Water & Soil Instrumentation, Inc.: Founded in 1979, Taiwan Water & Soil Instrumentation, Inc. is focused on designing and manufacturing instruments in water measurement, water resource management, and environmental monitoring. The company provides data loggers, level and flow transmitters, RF telemetry, on-line water quality monitoring systems, and has installed more than 70% of water resource management projects in Taiwan. The company has also been granted patents in the U.S., U.K, Japan, China, and Taiwan for developing Taiwan Water & Soil Instrumentation, Inc solutions and systems.
- Sutron: Established in 1975, Sutron is a division of OTT Hydromet, which is focused on providing customized monitoring and control solutions, majorly for weather, floods, coastal monitoring and tides, water level, water quality, dams, irrigation, rainfall, and extreme and remote environments. The company is a major supplier of systems and equipment to the U.S. National Weather Service, NOAA, National Oceanic Service, U.S. Geological Survey, and U.S. Army Corps of Engineers. Sutron has a strong geographical presence in North America, South America, Asia Pacific, and Europe.
- Other major players operating in the global real-time flood monitoring and warning system market and profiled in the report include
- Pessl Instruments
- Campbell Scientific, Inc.
- HWM-Water Ltd
- High Sierra Electronics, Inc.
- Arteria Technologies Private Limited
- Hanwell Solutions Ltd.
- Riverside Technology, Inc.
- SysEng (S) Pte Ltd.
- Hydro International UK Ltd
- Vieux & Associates, Inc.
- Companies are shifting toward AI and machine learning, and upgrading their skills to gain a competitive advantage in the real-time flood monitoring and warning system market, apart from maintaining their position in the market.
Real-time Flood Monitoring and Warning System Market - Scope of the Study
Transparency Market Research (TMR), in its recently published report, brings to the fore the growth prospects of the real-time flood monitoring and warning system market over the course of the forecast period of 2019-2027. This business study highlights the significant trends and notable developments that are found in the real-time flood monitoring and warning system market. In addition, the global study also provides market intelligence about the real-time flood monitoring and warning system landscape by taking into consideration the key drivers, threats, restraints, and opportunities.
This comprehensive guide offers an incisive view of the demand and supply of real-time flood monitoring and warning systems. This comprehensive business study also offers information regarding the macroeconomic and microeconomic factors that could aid in comprehending the growth potential of the real-time flood monitoring and warning system market during the forecast period of 2019-2027.
The size of the real-time flood monitoring and warning system market is evaluated in terms of value (US$ Mn) and volume (thousand units). The information covered in this study on the real-time flood monitoring and warning system market will help stakeholders identify lucrative opportunities for business advancement. This comprehensive guide outlines the key market players operating in the real-time flood monitoring and warning system market, in order to offer key actionable insights regarding the strategies adopted by market players, so as to aid them in gaining an upper hand in the competitive landscape. This exclusive research report also offers a detailed overview of market players, along with their financials, strategies, and notable developments.
Real-time Flood Monitoring and Warning System Market - Key Questions Answered
The global study on the real-time flood monitoring and warning system market encapsulates an overview, presenting rare and distinguishing insights that cover information culled from a microscopic as well as macroscopic level of the market study. This exclusive research report also provides salient answers to crucial questions concerning stakeholders in the real-time flood monitoring and warning system market. Some of the crucial questions answered in this comprehensive research report are:
- What is the real-time flood monitoring and warning system demand scenario in terms of volume and value?
- How will the real-time flood monitoring and warning system market evolve during the forecast period of 2019-2027?
- What are the key restraints and threats observed by market players operating in the real-time flood monitoring and warning system market?
- What are the crucial macroeconomic as well as microeconomic trends catapulting the growth of the real-time flood monitoring and warning system market?
Real-time Flood Monitoring and Warning System Market - Research Methodology
A robust research methodology, combining primary and secondary research, was employed to compile this report. For conducting primary research, significant opinion leaders, key market players, manufacturers, distributors, and business heads were consulted. For conducting secondary research, company annual reports, financial reports, publications, and press releases were referred to.
Real-time Flood Monitoring and Warning System Market - Segmentation
This comprehensive market study on the real-time flood monitoring and warning system market offers a comprehensive assessment of the attractiveness of the real-time flood monitoring and warning system market by analyzing the crucial segments. The global business study also covers a country-wise assessment in order to offer insights into the demand and supply ratio of the real-time flood monitoring and warning system market.
Software (Network and Data Processing Software)
Web Browsers (Internet)
Mobile Devices (WAP)
Agriculture & Inland Fisheries