With wildfire season rapidly growing from just the summer months, the need for preparation, awareness and detection is more important than ever.
According to market predictions, the global forest wildfire detection system marked was valued at US 740.18 million in 2023 and is predicted to surpass the market valuation of US 1,259.81 million by 2023 at a CAGR of 6.3% during the forecast period of 2024-2023.
This report focuses on the impact of wildfire detection in the Americas; with North America holding more than 34% revenue share. According to Astute Analytica, the National Interagency Fire Center reported a substantial average of 70,000 wildfires annually. Whilst the threat of wildfires is ever present in North America, there has been an uptake of reports in Canada, with Natural Resources Canada revealing 8,000 fires happen annually.
Detecting wildfires at their earliest stages is essential to decreasing the ever-growing threat. The threat of wildfires is increasing due to climate change and human activity which in turn, heightens the intensity of the fire.
With wildfires now covering more land than ever; in the US over 7.6 million acres were burned by 61,289 individual fires in 2022, the need is greater than ever. The average in 2022 was significantly higher than the ten-year average according to reports, with this number only increasing due to prolonged wildfire seasons across America.
With the rising threat of wildfires, the need for correct detection brings rising costs and economic stresses. Reports also shared how the US Forest Services budget for wildfire management has seen an increase of 12% over the past five years. With losses in North America exceeding US 12 billion annually, detection is essential to prevent potential damage.
With economic implications including property damage and firefighting costs, funding has been pushed into detection, amounting to increases in budgets.
Another financial impact of wildfire detection is the high rate of false alarms and the threat of miscalculation. With technological advancements coming in the form of satellites and sensors equipped with AI, the definition of wildfire detection is broader than ever.
With increased technology, along comes a higher potential for miscalculation. A recent study revealed that for every genuine fire detected- there were approximately seven false alarms. With the cost of wildfire response amounting to an estimated $15,000, the financial ramifications are significant.
As aforementioned, technological advancement such as satellites are leading the charge in wildfire detection. They are rising in prevalence because they offer the ability to cover remote locations and larger portions of land, alongside offering extensive analytics.
With satellite technology constantly evolving to meet the growing demands of detection, projections have revealed that satellites will continue to be at the forefront, accounting for more than 34.2% of the wildfire detection markets revenue.
Satellites help to reduce the chance of a false alarm with features such as accurate AI analysis, infrared sensors and thermal imaging. They are also growing in accessibility, with 3,000 satellites hanging in the skies in 2022. This number is expected to triple by 2030, as their availability increases to government officials and organizations working in detecting wildfires. Satellites are quickly becoming the detection tool of choice for many.
Similarly, hardware segments are anticipated to generate more than 56.6% of the global forest wildfire detection systems market revenue.
These hardware systems include cameras, thermal detectors and encompassing sensors, with their role being to capture data that will later be analyzed. Hardware segments are constantly evolving because of consistent investment.
Both satellites and hardware segment systems are being continuously developed, as a result of partnerships between tech brands, government agencies and startups.
Companies are seeing the rising demand for wildfire detection technology- and are rising to meet the challenge. North America contributes a substantial third of the entire global revenue for forest wildfire detection systems.
Alongside technological advancements, the market can be identified by an upkeep in desire for early detection. Satellites and hardware segment systems all contribute to early detection, helping to catch the spread before it can completely catch alight.
With America dominating the global forest wildfire detection system market, it is clear to see why investment and proactive early detection are at the forefront.
