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.
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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.