Global Weather Forecasting Systems Market

April 6, 2022
ID: SR/ICT-140
Format:Pdf
Pages:220

Global Weather Forecasting Systems Market, By Solution (Hardware and Software), By Forecast Type (Nowcast, Short-range, Medium range, Extended range, and Long-range), By Application (Weather Satellites, Weather Observing Systems, Weather Stations, Weather Drones, Weather Balloons, Weather LiDAR, Weather Radar, and Others), By Vertical (Agriculture, Aviation, Renewable Energy, Marine, Oil & Gas, Transport & Logistics, Military, Meteorology, Weather Service Providers, and Others), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2028.

Description

Weather Forecasting Systems Market Overveiw

The global Weather Forecasting Systems market size was valued at USD 2.75 Billion in 2021 and is anticipated to reach USD 5.1 Billion with a CAGR of 7.5% in 2022-2028. The rising demand for weather monitoring systems among various end-user industries, growing need for weather monitoring to support disaster management, and increased demand among various countries where the entire agriculture depends upon weather are the primary factors accelerating the growth of the global weather forecasting systems market during the forecast period. Furthermore, the development of statistical methods for enhancing the scope and accuracy of model predictions, improved observational capability afforded by meteorological satellites, and an increase in accuracy of weather forecasting systems have also boosted the demand for the product across the globe.

What are Weather Forecasting Systems?

Weather refers to air condition on the earth at a given place and time and is a constant, data-intensive, multidimensional, dynamic and chaotic process. These properties create weather forecasting is a formidable challenge. Forecasting is the process of analysis in unknown situations from historical data. Weather forecasts are usually made by collecting quantitative data about the current state of the atmosphere and using a scientific understanding of atmospheric processes to project how the atmosphere will evolve in the future. There are several techniques involved in weather forecasting, such as relatively simple observation of the sky and highly complex computerized mathematical models. A weather forecasting system uses science and technology to predict the atmosphere for a given location and time. A weather forecasting system utilizes multiple components, including barometers, anemometers, hygrometers, rain gauges, thermometers, sensors, and weather radars & antennas.

Growth Driver

Growing demand for Weather Forecasting Systems among end-users for various applications

The growing demand for weather forecasting systems among various end-users for multiple applications, such as severe weather alerts and advisories, predicting the behavior of the cloud for air transport, prediction of waterways in a sea, agricultural development, avoiding forest fire, and military applications are the key factors driving the growth of the global weather forecasting systems market during the forecast period. Some of the most commonly known severe weather advisories are the severe thunderstorm and tornado warning and the severe thunderstorm and a tornado watch. Weather forecasting systems help enterprises improve trading decisions and enhance their distribution, warehousing, and transportation processes. Besides this, the soaring need for accurate numerical weather prediction models and growing sea & air transportation led to the implementation of advanced weather forecasting systems across different industries.

The aviation industry is extremely sensitive to the weather, and accurate weather forecasting is essential for air transport. Fog or extremely low ceilings can prevent many aircraft from landing and taking off; Turbulence and icing are significant in-flight hazards. Moreover, Thunderstorms are also a problem for all aircraft because of intense Turbulence due to their updrafts and outflow boundaries, icing due to the heavy precipitation, large hail, strong winds, and lightning cause extreme damage an aircraft in flight. These are other factors anticipated to boost the demand for global weather monitoring systems in the coming years.

Furthermore, Commercial and recreational use of waterways can be limited significantly by wind direction, speed, wave periodicity, high tides and precipitation. These factors can influence the safety of marine transit, resulting in the increased need for various weather forecasting systems in marine industries across the globe.

Pre-Covid-19 impact on global Weather Forecasting Systems market

Increasing applications of Weather Forecasting Systems among various end-user verticals such as Agriculture, Aviation, Renewable Energy, Marine, Oil & Gas, Transport & Logistics, Military, Meteorology, Weather Service Providers, and Others is a prominent factor strengthening the growth of the global weather forecasting systems market in the pre-COVID era. Growing demand for global weather forecasting systems, primarily in developing countries’ agriculture and weather service providers, has created lucrative opportunities in the pre-COVID era. The rising need for weather forecast systems in the agriculture sector, as the weather plays an important role in agricultural production, has significantly increased the demand for weather forecasting systems across the globe.

Covid-19 impact on global Weather Forecasting Systems market

The COVID-19 pandemic has significantly hit the overall growth of the weather forecasting systems industry market in 2021 across the globe. The pandemic has severely affected every business segment due to various government norms such as nationwide lockdown and complete shutdown of manufacturing facilities across the globe. Furthermore, the complete ban on national and international flights has slowed down the demand for Weather Forecasting Systems in the aviation industry. The interruption in the supply chain of raw materials and non-availability of the workforce has halted the operations among oil and gas industries in developing and developed countries which have significantly impacted the growth of the Weather Forecasting Systems market. Furthermore, the rapid expansion of the military sector has significantly increased the demand for weather forecasting systems among various developed and developing countries across the globe.

Post Covid-19 impact on global Weather Forecasting Systems market

The rapid technological advancements in the manufacturing of advanced Weather Forecasting Systems and increasing R&D spending in product innovations to extend product applications among various end-user industries such as marine, transport & logistics, and meteorology are further expected to propel the growth of the global weather forecasting systems in the coming years. Furthermore, the rapid urbanization and increasing aviation and oil and gas industries among various developed and developing countries have increased the demand for advanced Weather Forecasting Systems across the globe.

Solution Segmental Analysis

Based on the Solution, the global Weather Forecasting Systems market is categorized into Hardware and Software. The Hardware segment is sub-segmented into Barometers, Anemometers, Hygrometers, Rain Gauges, Thermometers, Communication & Data Loggers, Sounding Systems & Radiosondes, and Others. The Software segment is sub-segmented into Data Collection & Processing Software, Weather Monitoring & Display Software, Supercomputing, Big Data Analytics, and Others.

Forecast Segmental Analysis

Based on the Forecast, the global Weather Forecasting Systems market is categorized into Nowcast, Short-range, Medium range, extended-range, and Long-range. The short-range segment is expected to hold the highest share in the global weather forecasting systems in 2021 and continues this trend during the forecast period. A short-range forecast is based on weather charts, maps, satellite images, weather balloons and ground-based information and provides information on the upcoming weather where the projection time ranges from a few hours to 48 hours or, in some cases, up to 72 hours. The information provided by these short-range forecasts is used widely for weather prediction and serves in various applications like air transport, ship routing, etc. Therefore, the growing demand for weather forecasts among fisheries and transportation sectors is expected to boost the growth of the forecast period’s short-range forecast segment of the weather forecasting systems market.

Application Segmental Analysis

Based on the Application, the global Weather Forecasting Systems market is segregated into Weather Satellites, Weather Observing Systems, Weather Stations, Weather Drones, Weather Balloons, Weather LiDAR, Weather Radar, and Others. The weather satellite segment is expected to have significant growth in the global weather forecasting systems in the coming years. This growth is attributable to the growing need for earth monitoring and weather observing systems to measure, monitor, and provide valuable inputs on several climatic parameters across the globe.

Vertical Segmental Analysis

Based on the Vertical, the global Weather Forecasting Systems market is segregated into Agriculture, Aviation, Renewable Energy, Marine, Oil & Gas, Transport & Logistics, Military, Meteorology, Weather Service Providers, and Others. The Marine segment is expected to hold the highest share in the global weather forecasting systems market during the forecast period. This growth is attributable to the increasing demand for advanced weather forecasting systems in marine industries. Commercial and recreational use of waterways can be restricted significantly by wind direction, speed, wave periodicity, high tides and precipitation. The marine industry is witnessing significant growth in the global weather forecasting systems market in the coming years to overcome these challenges. Furthermore, Aviation and other segments are expected to witness significant growth during the forecast period. The growing aviation sector and the growing need for weather forecasting systems in aviation, media and telecommunications, sports complexes, and other private enterprises have increased the growth of the global weather forecasting systems market.

Region Segmental Analysis

The Weather Forecasting Systems market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American region is expected to dominate the Weather Forecasting Systems Market and continue this growth rate during the forecast period, 2022-2028. This growth is attributable to the increasing presence of leading players, advanced and innovative products, and early technology adoption in the region. Furthermore, the Asia Pacific region has been the second leading market for Weather Forecasting Systems and expected a significant growth during the forecast period. The rapid urbanization, increasing investment and adoption of advanced technologies among various industry verticals has escalated the growth of the weather forecasting systems market in the region. In addition, the rapid growth of air and water transportation and the growing need for efficient, accurate, and technologically advanced forecasting systems Weather Service Providers and the agriculture sector will also positively impact the growth of the product market in the coming years.

Competitor Analysis

Companies include Accuweather, Inc., Airmar Technology Corporation, All Weather, Inc., Campbell Scientific, Gill Instruments, Hoskin Scientific, Met One Instruments, Inc., Meteogroup, Morcom International, Raytheon Company, Skye Instruments, Sutron Corporation, The Weather Company, and other prominent players are the key players in the Weather Forecasting Systems market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Weather Forecasting Systems manufacturing firm
Local Governments
Regulatory bodies
Suppliers
Retailers

Recent Developments

In January 2022, AccuWeather announced the launch of ClimateReady™ Risk Mitigation to help companies, municipalities, and organizations worldwide prepare for the impact of climate change.
In January 2022, AccuWeather announced it had acquired Paris-based environmental technology company Plume Labs®. Plume Labs is best known for empowering people and organizations worldwide with the most accurate air quality maps and data globally through its industry-leading AI/ML air pollution forecasts and its Flow® device.
In October 2021, Vaisala launched the Vaisala AWS810 Automatic Weather Station to help cities worldwide maintain their residents safe and secure. The Vaisala AWS810 Automatic Weather Station is a measurement, communication, and data monitoring system that makes contemporary observation networks simple to construct, administer, and maintain over time.
In September 2021, Vaisala launched a simplified Indigo510 transmitter for industrial applications to its modular indigo product range.

Scope of the Report

Report Attribute	Details
Revenue in 2021	USD 2.75 Billion
The revenue forecast in 2028	USD 5.1 Billion
Growth Rate	CAGR of 7.5% from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Accuweather, Inc., Airmar Technology Corporation, All Weather, Inc., Campbell Scientific, Gill Instruments, Hoskin Scientific, Met One Instruments, Inc., Meteogroup, Morcom, International, Raytheon Company, Skye Instruments, Sutron Corporation, The Weather Company, and Other prominent players

Market Modelling

By Solution

Hardware
- Barometers
- Anemometers
- Hygrometers
- Rain Gauges
- Thermometers
- Communication & Data Loggers
- Sounding Systems & Radiosondes
- Others
Software
- Data Collection & Processing Software
- Weather Monitoring & Display Software
- Supercomputing
- Big Data Analytics
- Others

By Forecast Type

Nowcast
Short-range
Medium range
Extended range
Long-range

By Application

By Vertical

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is Weather Forecasting System?

A weather forecasting system uses science and technology to predict the atmosphere for a given location and time. A weather forecasting system utilizes multiple components, including barometers, anemometers, hygrometers, rain gauges, thermometers, sensors, and weather radars & antennas.

What is the growth rate of the Weather Forecasting Systems market?

The global Weather Forecasting Systems market size was valued at USD 2.75 Billion in 2021 and is expected to reach USD 5.1 Billion with a CAGR of 7.5% in 2022-2028.

What are the driving factors for the global Weather Forecasting Systems market?

The rising demand for weather monitoring systems among various end-user industries, growing need for weather monitoring to support disaster management, and increased demand among various countries where the entire agriculture depends upon weather are the primary factors accelerating the growth of the global weather forecasting systems market during the forecast period.

Which region is expected to have the largest share in global Weather Forecasting Systems?

The North American region is expected to dominate the Weather Forecasting Systems Market and continue this growth rate during the forecast period, 2022-2028.

Who are the major players in the global Weather Forecasting Systems?

Companies include Accuweather, Inc., Airmar Technology Corporation, All Weather, Inc., Campbell Scientific, Gill Instruments, Hoskin Scientific, Met One Instruments, Inc., Meteogroup, Morcom, International, Raytheon Company, Skye Instruments, Sutron Corporation, The Weather Company, and other prominent players are the key players in the Weather Forecasting Systems market.

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