The global real-time flood monitoring & warning system market size was US$ 195.6 billion in 2021. The global real-time flood monitoring & warning system market size is forecast to reach US$ 319 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2030.
Melting snow, torrential rain, or prolonged rainy weather are the most common causes of floods, which pose a threat to both property and people. The real-time flood monitoring and warning system give first responders, such as emergency services, the time they need to implement mitigation and protection measures or begin evacuation operations. The real-time flood monitoring and warning system assist national and local governments, such as county councils, municipalities, and water suppliers, in informing residents about imminent flood events and dispatching teams to implement flood mitigation plans.
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Factors Influencing Market Growth
The increasing cases of floods and other natural disasters drive the global market.
Technical advances, increasing adoption of smart cameras & sensors in order to witness the water levels, and growing adoption of artificial intelligence in various industries are forecast to offer lucrative opportunities for the global market during the forecast period.
Technological complexness at the time of information sending and poor hydrological management of networks owing to lack of equipment may slow down the overall industry growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to prevent the deadly virus spread. This has led to the closure of manufacturing operations owing to a lack of raw materials, less demand from end-users, and lack of labor.
Regional Analysis
North America accounted for the major market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the substantial existence of market participants operating. In addition, rising advances and innovations in production technologies. As a result, warning systems become more effective. Thus, these factors drive the market growth in the region.
The Asia Pacific region is forecast to have lucrative growth during the forecast period. As a result of the growing investments by governments in the installation of these systems in developing countries such as India, China, and Japan. In addition, the rising demand for real-time flood monitoring & warning system in order to decrease losses and threats caused due to floods or other natural disasters fuels the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global real-time flood monitoring & warning systems market are:
Arteria Technologies Private Limited
Biz4intellia Incorporated
Kingspan Group plc
Vaisala Oyj
Xylem Incorporated
Ellab Monitoring Solutions Limited
SAS Institute Incorporated
OTT Hydromet
Libelium
Intellisense Systems, Incorporated
Taiwan Water & Soil Instrumentation, Incorporated
Green Stream Technologies, Incorporated
Other Prominent Players
Scope of the Report
The global real-time flood monitoring & warning systems market segmentation focuses on Component, Access Type, End-user, and Region.
Segmentation based on Component
Hardware
o Sensors & Dataloggers
o Others
Software
Services
o Training Services
o Professional Services
Segmentation based on Access Type
Web Browser (Internet)
Mobile Devices (WAP)
o iOS
o Android
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Segmentation based on End-User
Government
Media
Agriculture & Inland Fisheries
Transport & Logistics
Energy
Construction
Tourism and Outdoor Entertainment
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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