REPORT HIGHLIGHT
Disaster Preparedness System Market size was valued at USD 177,506 Million in 2023, expanding at a CAGR of 8.5% from 2024 to 2032.
Plans, guidelines, and protocols put in place to anticipate and handle natural or man-made disasters are known as preparedness systems. Reducing the impact of catastrophes on communities while simultaneously guaranteeing a prompt and efficient response to minimize loss of life and property is the aim of disaster preparation systems.
Disaster Preparedness System Market- Market Dynamics
Increasing the frequency of disasters to propel market demand
One of the main factors propelling the disaster preparedness system market's expansion is the increasing frequency and intensity of disasters. Stakeholders' growing awareness of risk forces them to make proactive investments in disaster preparedness, which propels market growth. Furthermore, because of their intensity, these calamities frequently cause significant property destruction, financial losses, and human suffering. As a result, governments are spending large sums of money to strengthen their capacity to respond to disasters, which is fostering a profitable market for goods and services. Additionally, new technology and approaches are required due to the complexity and unpredictability of current disasters. The increased need for sophisticated early warning systems, data analytics, and communication technologies to better anticipate, address, and recover from crises boosts the industry.
Disaster Preparedness System Market- Key Insights
- As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2024-2032)
- Based on type segmentation, the Surveillance System segment is expected to capture a significant market share during the forecast period
- Based on end-use segmentation, the BFSI segment is expected to grow at a significant rate over the forecast period
- Based on region, North America was the leading revenue generator in 2023
Disaster Preparedness System Market- Segmentation Analysis:
- The Global Disaster Preparedness System Market is segmented based on Type, Solution, Services, Communication Technology, End-Use, and Region.
- Based on the type, the market is segmented into Safety Management System, Surveillance System, Emergency/Mass Notification System, Disaster Recovery and Backup Systems, Earthquake/Seismic Warning System and Others. The Surveillance System segment is expected to capture a significant market share during the forecast period. Many variables, such as the increasing frequency of natural catastrophes, the unpredictability of weather patterns, the ubiquity of domestic violence, and the government's focus on safety regulations, have forced emergency management organizations to implement and improve monitoring systems in metropolitan areas. Organizations may efficiently detect possible dangers and create suitable action plans by implementing surveillance systems. Furthermore, IP-based video surveillance systems enable enterprises and communities to remotely identify events like theft, fires, flooding, and even acts of terrorism. Together, these advantageous conditions support the segment's expansion.
- Based on the end-use, the global industry is bifurcated into Manufacturing, Energy and Utilities, Aerospace and Defense, BFSI, Public Sector, IT and Telecom, Transportation and Logistics, Healthcare and Others. The BFSI segment is expected to grow at a significant rate over the forecast period. The BFSI sector's growing emphasis on disaster recovery and business continuity is one of the main factors driving the growth of the category. To guarantee continuous service delivery during crises, banks, financial institutions, and insurance businesses are investing in strong disaster preparation systems due to the crucial nature of their operations and the possible financial and reputational risks associated.
Disaster Preparedness System Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. Due to the government's increased focus on creating and executing smart emergency management and mitigation strategies, the United States has a sizable market share. These programs seek to reduce reaction times and reduce the harm caused by both man-made and natural catastrophes. A thorough catastrophe preparedness system is essential for accelerating emergency planning and streamlining the recuperation phase. The need for strong disaster preparedness systems is further highlighted by the region's growing frequency and expense of disasters, which have been attributed to climate change. Thereby, driving the market growth in the region.
Disaster Preparedness System Market- Competitive Landscape:
The competitive landscape of the market is extremely fragmented, as key competitors use a variety of inorganic and organic techniques to strengthen their market positions. These tactics include alliances, product innovation, geographical growth, and research and development activities. Prominent players in the market are proactively involved in the establishment of strategic partnerships, creation of novel and enhanced goods, diversification into new areas, and allocation of resources towards research and development initiatives. To guarantee company continuity, vendors of disaster recovery solutions are increasingly concentrating on creating disaster recovery portfolios for firms.
Recent Developments:
In March 2023, using the Storage & Optical Connection Coordination (SOCC) technology, Huawei Technologies Co., Ltd. unveiled a unified disaster recovery portfolio solution at the Mobile World Congress (MWC) 2023. By combining optical transmission and storage components, this creative solution guarantees constant connectivity for crucial business processes. Its main goal is to reduce data loss and avoid business interruptions in the case of calamities like earthquakes or fires.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
- Honeywell International Inc.
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY TYPE- MARKET ANALYSIS, 2019 - 2032
- Safety Management System
- Surveillance System
- Emergency/Mass Notification System
- Disaster Recovery and Backup Systems
- Earthquake/Seismic Warning System
- Others
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY SOLUTION- MARKET ANALYSIS, 2019 - 2032
- Disaster Recovery Solutions
- Geospatial Solutions
- Situational Awareness Solutions
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY SERVICES- MARKET ANALYSIS, 2019 - 2032
- Training & Education Services
- Design & Integration Services
- Consulting Services
- Support & Maintenance Services
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY COMMUNICATION TECHNOLOGY- MARKET ANALYSIS, 2019 - 2032
- First Responder Tools
- Emergency Response Radars
- Satellite Phones
- Vehicle-Ready Gateways
- Others
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY END-USE- MARKET ANALYSIS, 2019 - 2032
- Manufacturing
- Energy and Utilities
- Aerospace and Defense
- BFSI
- Public Sector
- IT and Telecom
- Transportation and Logistics
- Healthcare
- Others
GLOBAL DISASTER PREPAREDNESS SYSTEM MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA