Press release
Real-time Flood Monitoring & Warning System Market is expected to cross the value of US$ 359.5 Mn by the end of 2031
A real-time flood monitoring & warning system is an artificial intelligence (AI)-based advanced flood detection system placed in remote areas for the early detection of rising water levels to provide real-time information about natural disasters to various end users. It represents how advanced technologies help organizations to more easily, efficiently, and conveniently ingest information and security concerns. Real-time flood monitoring & warning systems are becoming popular due to adoption of digital technologies by various end-use industries, which has increased interest of many researchers.
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Real-time Flood Monitoring & Warning System Market: Dynamics
The growing adoption of various technologies such as cloud computing and AI, along with advance technology in different industries to send notification alerts to end users is likely to drive the adoption rate of real-time flood monitoring & warning systems during the forecast period. However, the market faces challenges due to technological errors during the information transfer, which further creates disruptions in real-time flood monitoring & warning systems. Poor hydrological management of networks due to shortage of equipment negatively impacts the growth of the real-time flood monitoring & warning system market. However, increasing adoption of wireless networks for mobile devices is anticipated to boost the real-time flood monitoring & warning system market during the forecast period.
The rising penetration of advance safety and security solutions in the military & defense sector to provide reliable information about flood incidents and warning alerts on military software systems is estimated to propel the real-time flood monitoring & warning system market during the forecast period.
Real-time Flood Monitoring & Warning System Market: Prominent Regions
The real-time flood monitoring & warning system market in North America is expected to account for largest share during the forecast period, due to innovations in production technologies to improve the efficiency of warning systems and also due to presence of major market players in the region. Hence, North America is fueling the growth of the real-time flood monitoring & warning system market.
The market in Asia Pacific is likely to expand at the highest CAGR during the forecast period due to increasing investments by governments in installation of real-time flood monitoring & warning systems in different countries such as India, China, and Japan to reduce the loss and risks due to floods and other natural disasters. Hence, the demand for real-time flood monitoring & warning systems is expected to grow in the region during the forecast period. The Europe market is projected to rise at a notable CAGR during the forecast period, owing to rising adoption of advance technology among various end users in the region, which leads to growth of the real-time flood monitoring & warning system market.
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Real-time Flood Monitoring & Warning System Market: Key Players
Key players operating in the global real-time flood monitoring & warning system market are Biz4intellia Inc., Campbell Scientific, CIMCON Lighting, Inc., HWM-Water Ltd, Lynker Technologies, LLC, Pessl Instruments GmbH, Sutron Corporation, Taiwan Water & Soil Instrumentation, Inc., Valarm, Inc., Xylem Inc., Ellab Monitoring Solutions Ltd., SAS Institute Inc., OTT Hydromet, Intellisense Systems, Inc., and Green and Stream Technologies, Inc.
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