According to Acumen Research & Consulting, the Global Disaster Preparedness Systems Market size was worth USD 154.8 Billion in 2021 and is projected to be worth around USD 296.7 Billion by 2030, growing at a CAGR of 7.7% in the coming years
Disaster Preparedness Systems Market Overview
The disaster preparedness systems market is rapidly expanding, driven by the increasing frequency of natural disasters, rising disaster preparedness awareness, and rising demand for advanced disaster management technologies. According to a comprehensive new analysis from the World Meteorological Organization (WMO), a disaster-related to climate, weather, or water hazard arise every day on average over the previous 50 years, killing 115 people and inflicting US$ 202 million in losses per day. Globally, natural catastrophes have claimed the lives of more than 2.4 million people and cost more than $3.7 trillion since 1980. Total losses have increased by more than 800%, from $18 billion annually in the 1980s to $167 billion annually in the past ten years.
Disaster Preparedness Systems Market Statistics
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Disaster Preparedness Systems Market Dynamics
The rising demand for business continuity plans as an outcome of the COVID-19 pandemic and other crises is driving up the market value of disaster preparedness systems. According to our estimates, the business continuity management industry will be worth over USD 1,811 million by 2030, with a CAGR of 15.5%. In addition to that, the recent trend of public partnerships in disaster preparedness is driving market growth, as these partnerships pool resources from the public and private sectors to improve preparedness and response efforts.
Climate change has also impacted disaster preparedness by increasing the frequency of severe weather events and making some areas more vulnerable to natural disasters. Many organizations have responded by including climate change in their preparedness planning and developing adaptation strategies to deal with the potential impacts of climate change on societies.
There has also been a focus on community resilience, which includes identifying and reducing vulnerability to disasters as well as assisting communities in recovering more quickly. This can include things like tightening building codes, retrofitting buildings to sustain natural disasters, and safeguarding critical infrastructure.
Disaster Preparedness Systems Market Segmentation
The global disaster preparedness systems market is categorized into type, solution, service, communication technology, end-use industry, and geography.
Disaster Preparedness Systems Market Share
According to disaster preparedness systems market forecasts, the surveillance system type will hold a significant market share between 2022 and 2030. However, the earthquake/seismic warning system will grow with a noteworthy CAGR from 2022 to 2030.
In 2021, the disaster recovery solutions sub-segment will have the largest market share. On the other hand, geospatial solutions are expected to grow at the fastest rate between 2022 and 2030.
The consulting services gathered the utmost market shares in 2021, whereas the training and education services will grow at a substantial rate in the coming future. Based on communication technology, emergency response radars will have a greater share in the entire projected period, whereas satellite phones will have the fastest growth rate from 2022 to 2030.
Furthermore, based on the end-user industry the BFSI sub-segment generates the maximum AWCS market share, while the healthcare industry is expected to attain high growth in the coming years.
Disaster Preparedness Systems Market Regional Outlook
North America is expected to dominate the global disaster preparedness systems market because of the existence of well-established market players, the rising adoption of advanced technologies, and powerful government support for disaster management. Europe, Asia Pacific, Latin America, the Middle East, and Africa are also expected to be major contributors to the market, owing to rising awareness of the importance of disaster preparedness and rising demand for advanced disaster management technologies.
Disaster Preparedness Systems Market Players
Some prominent disaster preparedness systems companies covered in the industry are Alertus, Honeywell, IBM, Juvare, Lockheed Martin, Motorola Solutions, NEC Corporation, OnSolve, Siemens, and Singlewire Software.
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Mr. Frank Wilson
Acumen Research and Consulting