Real-time Flood Monitoring and Warning System Market Key vendors, Quality, Relia

Posted by Sakshi Mishra on December 30th, 2019

According to a new report pertaining to the global real-time flood monitoring and warning system market published by Transparency Market Research the global real-time flood monitoring and warning system market is projected to reach a value of ~US$ 277 Mn by 2027. The real-time flood monitoring and warning system market is projected to expand at a CAGR of ~6% from 2019 to 2027. Growth of the market can be attributed to growing investments in environmental monitoring systems. Over the forecast period, Asia Pacific is anticipated to grow rapidly in the real-time flood monitoring and warning system market. In terms of share, the market is dominated by North America, followed by Asia Pacific. In the real-time flood monitoring and warning system market, the hardware segment was valued at ~US$ 70 Mn in 2017, and is expected to reach ~US$ 124 Mn by 2027, expanding at a CAGR of ~6% during the forecast period.

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• Rising Number of Natural Disasters– Incidents of natural disasters have increased over the years. Imbalance in the environmental cycle and rising global warming have increased the number of water-related natural disasters. Floods are a common and major disaster, which result in huge economic losses as well as loss of life. High volume loss has led to a 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, which could reduce both, direct as well as indirect losses.
• Increased Government Focus on Preventive Steps for Flood 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 cope with natural disasters and reduce the risk of loss. This 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.