According to Acumen Research & Consulting (ARC), the Global Disaster Preparedness Systems Market size was worth US$154.8 Billion in 2021 and is projected to be worth around US$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 the World Meteorological Organisation (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 US$3.7 trillion since 1980. Total losses have increased by more than 800%, from US$18 billion annually in the 1980s to US$167 billion annually in the past ten years.
Global disaster preparedness systems market revenue collected US$154.8 Billion in 2021, with a 7.7% CAGR between 2022 and 2030.
Disaster preparedness systems market statistics
- Global disaster preparedness systems market revenue collected US$154.8 Billion in 2021, with a 7.7% CAGR between 2022 and 2030
- According to the United Nations country classification, 91% of all deaths from weather, climate, and water hazards occurred in developing economies between 1970 and 2019
- Asia-Pacific disaster preparedness systems market growth is projected to record above 8% CAGR from 2022 to 2030
- Based on type, the emergency/mass notification system sub-segment occupied a share of 36% in 2021
- Among end-use industry, the BFSI sub-segment gathered around US$ 34.1 billion in 2021
- The increasing adoption of cybersecurity is a key trend in the disaster preparedness systems market that fuels the industry demand
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. Acumen Research and Consulting estimates that the business continuity management industry will be worth over US$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 organisations 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 categorised into type, solution, service, communication technology, end-use industry, and geography.
Based on the type, the market is bifurcated into disaster recovery and backup systems, earthquake/seismic warning systems, emergency/mass notification systems, surveillance system safety management systems, and others.
The solution segment is split into disaster recovery solutions, geospatial solutions, and situational awareness solutions.
By application, the segmentation includes industrial, commercial, and residential.
By service, the classification comprises consulting services, design & integration services, training & education services, and support & maintenance services.
Emergency response radars, first responder tools, satellite phones, vehicle-ready gateways, and others are the communication technologies considered in the market.
The end-user industry covers aerospace and defence, BFSI, energy and utilities, healthcare, it and telecom, manufacturing, public sector, transportation and logistics, and others.
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 automation waste collection system (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.
