AI, IoT, and Cloud Computing Driving Global Disaster Preparedness Industry to Record Growth
Fort Myers, Florida, after Hurricane Ian came ashore in 2022 with six feet of storm surge. / Credit: iStock
By Tammy Leytham
The global disaster preparedness system market size is projected to exceed $308 billion by 2030, registering a compound annual growth rate of 8.5 percent, according to a new report recently released by Research and Markets.
The market growth can be attributed to:
Escalating incidents of terrorism
Criminal activities
Occurrence of unpredictable natural disasters
Disaster preparedness encompasses the measures undertaken to minimize damages caused by such events, whether natural or manmade. This involves:
Forecasting potential disasters and their likely locations
Implementing preventive measures to avert or reduce the severity of these incidents
Mitigating the impact on vulnerable communities
Formulating effective response strategies to cope with the aftermath of disasters
Several nations are actively pursuing technological advancements in their disaster preparedness systems. For instance, in March 2023, the UK government introduced a new government public warning system that aims to send alerts to mobile phone users regarding life-threatening events. The system is set to undergo a nationwide trial over the coming months.
Mobile phone users will receive an emergency alert displayed prominently on their device's home screen, accompanied by a vibration and a distinct series of beeps resembling a loud siren. The government has clarified that these emergency alerts will be used sparingly and exclusively in situations where there is an immediate threat to life.
The increasing adoption of advanced technologies such as artificial intelligence, the internet of things, and cloud computing is contributing to the growth of the market. These technologies enhance the efficiency and effectiveness of disaster preparedness systems by enabling real-time monitoring, data analysis, and predictive modeling.
There is also an increasing recognition of the importance of community engagement and participation in disaster preparedness. Empowering communities through awareness campaigns and training programs, and involving them in decision-making processes, strengthens their resilience and response capabilities.
The COVID-19 pandemic affected market growth positively, and this impact will be maintained throughout the forecast period. Governments and healthcare organizations are investing in advanced medical facilities, equipment, and systems to better respond to future health emergencies. This includes improving surge capacity, implementing telemedicine solutions, and strengthening supply chain management for medical resources.
Disaster Preparedness System Market Report Highlights
The safety management system segment is anticipated to witness a compound annual growth rate of 10.7 percent over the forecast period. The growth of this segment is attributed to the increasing demand for surveillance systems, particularly in the context of smart city projects.
The surveillance system segment dominated the market in 2022 with a revenue share of approximately 35 percent. Rising concerns for public safety and security drive the increasing demand for advanced video surveillance technologies.
The design and integration services segment is anticipated to witness a CAGR of 10.4 percent, owing to the increasing demand for tailored disaster preparedness systems.
In terms of communication technology, the first responder tools segment is anticipated to witness a CAGR of 9.8 percent. The rising adoption of first responder tools across diverse emergency response teams, including fire departments, security personnel, medical teams, and police personnel, is expected to contribute to the segment growth.
The healthcare segment is anticipated to witness a CAGR of 9.9 percent. Driving the demand is comprehending the requirement for robust and adaptable healthcare infrastructure, coupled with efficient emergency response capabilities.
The Asia Pacific region is anticipated to witness a CAGR of 9.9 percent. A key factor for driving growth is increasing knowledge and awareness of the region's susceptibility to natural catastrophes such as earthquakes, typhoons, floods, and tsunamis.