Early Warning Systems Reduce Risk of Flash Floods during COVID-19 Crisis
Real-time flood monitoring & warning systems are playing a crucial role during the COVID-19 pandemic. During July 2020 in India, the Patna-based Flood Management Improvement Support Centre (FMISC) has been gaining recognition for using real-time data through the Geo Information System (GIS) software to reduce the damage due to flash floods. Such early warning systems are gaining prominence during the coronavirus crisis, since healthcare institutions are already compromised due to high number of active infection cases.
Revenue flow in the real-time flood monitoring & warning system market is witnessing a staggered growth, owing to disruptions in investment for new technology development and reduced expenditure of end users. Hence, companies in the real-time flood monitoring & warning system market are focusing on key sectors such as the government, tourism, and agriculture, among others, to keep economies running.
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Demand for Forecasting Near-exact Magnitude of Peak Flood Creates R&D Opportunities
The real-time flood monitoring & warning system market is projected to surpass the revenue of US$ 300 Mn by the end of 2030. Flood forecasting models such as the hydrological model is gaining popularity for being capable of simulating future estimates of a selected hydrological variable, water level, streamflow, etc. at a particular location. However, advantages and disadvantages of hydrological models are based on their use, either for flood forecasting or flood planning.
There is a growing need for accuracy in forecast models such as the hydrological model, and is expected to produce an exact or near-exact magnitude of peak flood.
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Space-based Sensors Gain Popularity for Monitoring, Mapping of Floodwater Inundation
After the Kerala rains in July-August 2018 caused substantial loss of lives and property, researchers are now developing powerful tools for a near real-time mapping of flood extent. Companies in the India real-time flood monitoring & warning system market are taking cues from such innovations to expand market growth. They are increasing efforts to develop cloud-based flood inundation maps with high accuracy.
Companies in the India real-time flood monitoring & warning system market are increasing their R&D muscle in space-based sensors known as synthetic aperture radar (SAR) that help in monitoring and mapping of flood-water inundation. SAR is being highly publicized for acquiring data in all-weather conditions, and has the potential for mapping and monitoring flood inundation areas.
Innovative Devices Installed on Smartphone for Flood Alerts
The global real-time flood monitoring & warning system market is predicted to expand at a favorable CAGR of ~6% during the forecast period. Companies are innovating in flood alert systems with android application to enable free communication frequency, low power consumption, and save hardware cost. As such, proposed hardware modules are being developed in the form of IoT (Internet of Things)-based flood monitoring & alerting systems with weather forecasting. Companies are making use of various gadgets and sensors to increase precision in flood warning systems.
The real-time flood monitoring & warning system market is undergoing a significant change with the introduction of devices that a user can install on a smartphone to draw analysis and alerts in the form of notifications.
Reliable Data Loggers Help Collect Transmit Data in Real Time
The crucial flood warning data is being used to alert local authorities and public work departments in order to protect lives and infrastructure. OTT HydroMet – a provider of valuable insights for experts in water and weather applications, is being publicized for its reliable data loggers and telemetry technology, which helps to collect and transmit data in real time.
Companies in the real-time flood monitoring & warning system market are developing cutting-edge data loggers and telemetry technology, which can be paired with precipitation, water level, and flow sensors to acquire crucial flood warning data. Such sensors and data loggers help to know if a critical threshold has been exceeded.
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Analysts’ Viewpoint
Since healthcare institutions are already compromised with the high prevalence of active COVID-19 cases in several regions of the world, reliable real-time flood monitoring software are gaining importance to protect lives and infrastructure from potential destruction. Companies are increasing their R&D capabilities in cloud computing using synthetic aperture radar, which help in mapping and monitoring flood inundation areas. However, flood prediction techniques using flow and depth measurement with artificial neural network in canals pose disadvantages of inability to produce highly accurate results. Hence, companies in the real-time flood monitoring & warning system market should gain a strong research base in IoT technology and machine learning algorithm, which make use of historical data to predict the intensity of potential floods.
Real-time Flood Monitoring & Warning System Market: Overview
- According to Transparency Market Research’s latest research report on the global real-time flood monitoring & warning system market for the historical period 2018–2019 and the forecast period 2020–2030, the market is anticipated to surpass the value of US$ 300 Mn by 2030, expanding at a CAGR of ~6% during the forecast period. Increasing investment in technology to deal with natural disasters is resulting in high demand for real-time flood monitoring & warning systems.
- In terms of adoption, satellite telemetry is being used extensively across the globe, as it has major applicability in remote areas where radio and cellular telemetry are not feasible. There are high chances of cellular or radio network failure at the time of occurrence or prior to the occurrence of floods.
- During the forecast period, North America is anticipated to emerge as the leading real-time flood monitoring & warning system market, followed by Asia Pacific and Europe
Increase in Efforts by Governments to Prevent Floods and Other Natural Disasters – Key Driver of Global Market
- Governments of many countries across the globe are focusing on preventive steps to address natural disasters such as floods and earthquakes. Major customers of real-time flood monitoring systems across the globe are government and public organizations. Governments of several countries are installing real-time flood monitoring & warning systems to reduce the risk of loss and manage such environmental problems. For instance, in July 2020, the U.K. Government launched a long-term plan to protect homes and businesses in the country from flooding and coastal erosion. The Government will invest nearly US$ 6.94 Bn to tackle flooding.
- Majorly, end users of real-time flood monitoring & warning systems are governments, community groups, and other public groups who have the primary responsibility to deal with public issues. Thus, increased need to prevent floods and proper measures needed prior to their occurrence are fueling the demand for real-time flood monitoring & warning systems. The impact of this driver is expected to be high in short and medium term, as governments are increasing the installation of real-time flood monitoring & warning systems rapidly to reduce the probable loss.
Key Challenges Faced by Real-time Flood Monitoring & Warning System Market Players
- Improper functioning of sensors during dust layering and sudden shock may hamper market growth. The structure of real-time flood monitoring & warning systems includes sensors as one of the major components for sending signals to the end user. However, in a state of sudden shock, sensors may not always provide correct reading. There is a high probability that sensors may be damaged during an impulsive reading. This may hamper the structure and outcome of real-time flood monitoring & warning systems.
- Although sensor manufacturers are focusing on the development of sensors, which can work in continuous harsh environments, the risk of damage and malfunction always exists due to the environment. The impact of this driver is expected to be medium in short and medium term, and low in the long term, as advancements in technology would lead to an upgrade of the sensor technology, which may overcome the problem of dust as well as sudden shock.
Real-time Flood Monitoring & Warning System Market: Competition Landscape
- Detailed profiles of providers of real-time flood monitoring & warning systems have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global real-time flood monitoring & warning system market are
- Biz4intellia Inc.
- Campbell Scientific
- CIMCON Lighting, Inc.
- ENVIRA IOT
- Hanwell Inc.
- High Sierra Electronics, Inc.
- HWM-Water Ltd
- Kingspan Group
- Lynker
- Pessl Instruments GmbH
- Riverside Technology, Inc.
- Sutron Corp.
- SysEng (S) Pte Ltd.
- Taiwan Water & Soil Instrumentation, Inc.
- Vaisala
- Valarm
- Xylem
Real-time Flood Monitoring & Warning System Market: Key Developments
- Key providers of real-time flood monitoring & warning systems such as Campbell Scientific, ENVIRA IOT, Hanwell Inc., Kingspan Group, CIMCON Lighting, and Pessl Instruments GmbH are focusing on the development of real-time flood monitoring & warning systems to attract more customers. Some of the significant developments in the global real-time flood monitoring & warning system market are highlighted below:
- In January 2021, Paige Wireless and Metos USA formed a technological partnership for distribution and promotion of LoRaWAN solutions and network capability throughout the U.S.
- In July 2019, Advanced Environmental Monitoring acquired Davis Instruments Corporation to strengthen its portfolio in meteorology, hydrology, and broader environmental monitoring
- In September 2019, CIMCON Lighting, Inc. announced that the company has raised US$ 33 Mn in funding, including US$ 23 Mn in Series C funding and a US$ 10 Mn revenue-sharing facility. The funding was led by Digital Alpha. The investment within smart cities is driving the deployment of real-time flood monitoring & warning systems, as it is one of the crucial components in disaster management for smart cities. The primary focus of the funds raised was to expand sales and marketing efforts to meet the demands of smart cities across the globe.
- In the global real-time flood monitoring & warning system market report, we have discussed individual strategies, followed by company profiles of real-time flood monitoring & warning system providers. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global real-time flood monitoring & warning system market.
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