Disaster Management Is Driven By Growing Incidences Of Man-Made And Natural Calamities

The global disaster management market is expected to witness booming growth over the projected timeframe, and this can be attributed to the increasing incidences of fire, power outage, explosion, and equipment failure. It is a collective term that encompasses all aspects corresponding to both pre and post disaster management activities including the administration of the risk and consequences of disasters. 

The market for industrial and commercial segments are booming at a fast pace as these verticals are more prone to catastrophic fire explosions and accidents. Presently, commercial buildings are installing sensors that warn them about any possible natural disasters, fire outbreaks, power outages, etc. These sensors provide weather information, emergency signaling, and alarms, and also signals for any criminal activities within the commercial space. 

The market has been segmented based on disaster type into man-made and natural disaster. Various application areas include earthquake and tsunami warning system, traffic management, remote weather monitoring system, and CBRNE detection system, and utilize disaster management solutions.

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The regional segmentation includes Europe, North America, Asia Pacific, South America, and the Middle East & Africa. The U.S is responsible for generating major revenue for the North America region as there is a shift in the U.S. demographics and there have been potential security threats associated with terrorism in the country. Furthermore, U.S. has also marked a surge in biological hazards and shootings, which is driving the need for effective disaster management. Factors such as aging population and a large number of people residing in the coastal areas are more vulnerable to natural calamities and have mandated the availability of emergency management services especially in these areas. 

The North America market is also driven by the significant advancements made in the cutting-edge technologies. Big data analytics, Artificial Intelligence (AI), and Internet-of-Things (IoT) play a vital role in building smart management services that are capable of gathering and analyzing large volumes of data during the disaster response activities. 

Several government and private organizations like Red Cross and FEMA offer assistance to disaster victims as a part of their relief programs. FEMA in 2017 raised $615 million as a base funding for their relief programs. Furthermore, FEEA has designed relief programs for employees who are who are affected by any form of hardships or disasters. Employer-sponsored relief programs are an emerging market trend and is market by the presence of several employer-sponsored charitable organizations and programs such as Charitable Leave Donation Programs, Disaster Assistance Leave Banks, and Qualified Disaster Relief Payments. 

Some of the major players functioning in the market comprises Motorola Solutions; Honeywell International Inc.; Lockheed Martin Corporation; Frequentis AG; Rockwell Collins; and ESRI. Companies are focusing on incorporating advanced technologies in a response to the growing demand for improved and efficient relief systems. 

For instance, aerial drones are widely used for disaster phases like preparedness- monitoring volcanic activity so as to determine its intensity of impact and a time to determine the necessary warning, response – damage assessment with photographing the affected area. Furthermore, underwater drones were used as a disruptive technology during the 2018 Hurricane Florence in the U.S. They were used to determine the ocean heat and the corresponding data was transmitted to the National Weather Service for further assessment. The information analyzed was also used to measure the route of the hurricane, while the on-board sensors determined the sanity levels of how much rainwater was mixing with the river water.