The global disaster preparedness systems market size is expected to reach USD 259.71 billion by 2028 according to a new study by Polaris Market Research. The report “Disaster Preparedness Systems Market Share, Size, Trends, Industry Analysis Report, By Type; By Solution (Geospatial Solutions, Disaster Recovery Solutions, Situational Awareness Solutions); By Communication Technology; By End-Use; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Some prominent factors, such as the increasing number of government initiatives and the rising number of terrorist attacks, fuel the market growth. Besides, the occurrence of natural disasters such as floods and cyclones and the growing adoption of smart surveillance systems also contribute to the global industry growth of tragedy preparedness systems over the forecast period.
Based on solution, the tragedy recovery solutions segment is leading the industry with the highest shares because it is deployed by all organizations to ensure the fast recovery of data, applications, and hardware that are important for business operations. The geospatial solutions segment is likely to grow at the highest pace in the forecasting years. Growing needs of collecting, scrutinizing, and accumulating geographic data fuel the tragedy preparedness systems segment growth.
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The increasing number of terrorist attacks is one of the major driving factors for preparedness industry growth. In some past decades, terrorists assassinated approximately 21,000 people globally each year. As per the Global Terrorism Index 2019, 71 countries suffer from at least one death because of terrorist attacks. Therefore, growing terrorist attacks surge the demand for the tragedy preparedness system for public safety.
Market participants such as Honeywell International Inc., Siemens, Alertus Technologies LLC, IBM, Juvare, LLC, Motorola Solutions, Inc., Lockheed Martin Corporation, NEC Corporation, OnSolve, and Singlewire Software, LLC are some of the key players operating in the global market.
There are various market players and organizations that are launching new products into the global market to reduce the hazardous impact of tragedies. In July 2021, a geo-imaging satellite- EOS-3 will launch in the third quarter of 2021-22 by the Indian Space Research Organization (ISRO).
The satellite can near-real-time scrutinize natural tragedies such as cyclones and floods. Moreover, the satellite is proficient for imaging the country 4 to 5 times a day will be capable of checking vegetation condition, water bodies, crops & forest, and cover variations, among others.
Polaris Market Research has segmented the disaster preparedness systems market report on the basis of type, solution, communication technology, end-use, and region:
Disaster Preparedness Systems, Type Outlook (Revenue - USD Billion, 2016 - 2028)
Disaster Preparedness Systems, Solution Outlook (Revenue - USD Billion, 2016 - 2028)
Disaster Preparedness Systems, Communication Technology Outlook (Revenue - USD Billion, 2016 - 2028)
Disaster Preparedness Systems, End-Use Outlook (Revenue - USD Billion, 2016 - 2028)
Disaster Preparedness Systems, Regional Outlook (Revenue - USD Billion, 2016 - 2028)