Dublin, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The "Natural Disaster Detection IoT Market by Component (Hardware, Solutions, Services), Application (Flood Detection, Drought Detection), Communication System (First Responder Tools, Vehicle-ready Gateways), End User and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global natural disaster detection IoT market is projected to grow from USD 0.3 billion in 2022 to USD 1.7 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 36.0% during the forecast period.
Collecting near-real-time data by using IoT devices and sensors is driving the natural disaster detection IoT market growth.
Floating sensor networks segment is expected to account for a larger market share during the forecast period
Developed at UC Berkley has launched a new model for gathering information from a river's floating object in a flood situation. It is a compact and commercial floating object, which is outfitted with a camera and accelerated sensor for the Global Positioning System (GPS). The floating object tracks sudden fluctuations or incremental shifts in water and is automatically transmitted through web alerts to local citizens.
Managed services segment is estimated to account for a higher CAGR during the forecast period
The complexities of IoT are handled by IoT-managed services providers with a broad range of services and expertise to simplify the process of procuring, connecting, configuring, and deploying devices worldwide.
Connecting with an IoT-managed services provider facilitates businesses to manage risks, reduce costs, and improve time to market. They achieve this through comprehensive device management, wireless connectivity, network management, and forward and reverse logistics.
Satellite Assisted Equipment segment to account for the largest market share during the forecast period
For many years satellite service providers have helped predict, map out, and deliver live information to reduce damage and fatalities during natural disasters and emergencies.
The satellite-based disaster management approaches have normally relied on visually assessing the latest images, one area at a time. Hence, the use of AI and satellite mapping techniques by scientists are speeding up the process of disaster management.
Among regions, Asia Pacific recorded the highest CAGR during the forecast period
Asia Pacific constitutes thriving economies, such as Singapore, Japan, China, India, and Australia, which are expected to register high growth rates in the natural disaster detection IoT market. The region faces the worst climatic changes. In the worst-case climate change scenario, the sum of people at high risk in the Asia Pacific region will increase by around one-third.
These susceptible people are mainly situated in the Ganges-Brahmaputra-Meghna basin, the Indus basin, parts of South-East Asia, and some Pacific Island countries. These are the emerging and intensifying risks in the region. Industry 4.0 innovations in robotics, analytics, AI, cognitive technologies, nanotechnology, quantum computing, wearables, IoT and big data can be utilized for disaster resilience.
Also, governments are increasingly investing in these technologies that will ensure even the poorest countries and most omitted communities can be empowered.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 262 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $0.3 Billion |
| Forecasted Market Value (USD) by 2027 | $1.7 Billion |
| Compound Annual Growth Rate | 36.0% |
| Regions Covered | Global |
Premium Insights
- Major Developments by Leading Vendors to Drive Market During Forecast Period
- Solutions Segment to Dominate Market by 2027
- Early Warning System to Hold High Growth Rate During Forecast Period
- Professional Services Segment to Dominate Market by 2027
- Training and Simulation Segment to Hold High Growth Rate During Forecast Period
- Flood Detection Segment to Dominate Market by 2027
- First Responder Tools Segment to Hold High Growth Rate During Forecast Period
- Government Organizations Segment to Dominate Market by 2027
- Satellite-Assisted Equipment and Government Organizations Segment to Account for Significant Market Share in 2022
Market Dynamics
Drivers
- Use of IoT Devices and Sensors to Predict Disasters in Advance
- Reduction in Damage and Economic Loss with Disaster Warnings
- Increasing Government Initiatives to Use IoT in Emergency Planning
Restraints
- Vulnerabilities of IoT Devices
- Inaccurate Data Entering Ai System
Opportunities
- Growing Adoption of Satellite Remote Sensing and Gis for Disaster Risk Minimization and Prevention
- Predictive Analysis with Ai and Data Analytics Tools
Challenges
- Hampered Communications at Area of Disaster
Industry Trends
- Value Chain Analysis
- Ecosystem Analysis
- Disruptions Impacting Buyers/Clients in Market
Case Study Analysis
- Case Study 1: Contra Costa County Protects People from Earthquakes and Other Calamities
- Case Study 2: Nec Tests Simulation Technology in Rio De Janeiro That Enables Accurate Warning of Natural Disasters
- Case Study 3: Early Flood Warning Solution by Intel
- Case Study 4: IoT-Enabled Flood Monitoring System and Public Safety Monitoring Using Semtech's Lora and IoT
- Case Study 5: Nokia's Drone Solution for Tsunami Preparedness and Response in Sendai City
- Case Study 6: Mississippi Emergency Management Agency (Mema) Coordinates to Respond to Crises
Technology Analysis
- IoT
- Artificial Intelligence/Machine Learning
- 5G Network
- Cloud Computing
- Big Data
Company Profiles
Major Players
- Nec Corporation
- Blackberry
- Semtech
- Sony
- Nokia
- Sap
- Intel
Startup/Smes
- Green Stream Technologies
- Sensoterra
- Earth Networks
- Responscity Systems
- Grillo
- Bulfro Monitech
- Sadeem Technology
- Lumineye
- Venti LLC
- Simplisafe
- One Concern
- Onsolve
- Trinity Mobility
- Skyalert
- SerinUS
- Knowx Innovations Pvt. Ltd.
- Ogoxe
- Aplicaciones Technologicas Sa
For more information about this report visit https://www.researchandmarkets.com/r/vfhoug-disaster?w=12
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