Weather Forecasting Systems Market by Vertical (Aviation, Agriculture, Renewable), Solution (Hardware: Data Loggers, Anemometers, Software: Big Data, Super Computing), Application, Forecast Type, Region - Global Forecast to 2025
Increasing demand for weather forecasting using big data analytics and rise in climate change patterns resulting in uncertainties related to rainfall are major factors expected to drive the growth of the weather forecasting systems market, globally.
The weather forecasting systems market is projected to grow from an estimated USD 2.3 billion in 2019 to USD 3.3 billion by 2025, at a CAGR of 5.7% from 2019 to 2025. The market is driven by factors, such as increasing demand for weather forecasting using big data analytics, rise in climate change patterns resulting in uncertainties related to rainfall and increased need for continuous weather monitoring to enable disaster management. Predictive analytics is helping change the future of weather forecasting. Weather scientists use big data analytics to predict future weather conditions, based on the study of the current and past data. Supercomputers are enabled with big data analytics to accurately predict life-threatening natural weather conditions.
Based on solution, the hardware segment is projected to lead the weather forecasting systems market from 2019 to 2025
Based on solution, the hardware segment is projected to lead the weather forecasting systems market from 2019 to 2025. The hardware for weather forecasting systems comprises a number of systems integrated together to sense and predict weather conditions accurately. Sensors are an integral part of the hardware of any weather forecasting system. Advancements in technologies related to sensors have resulted in the development of sensors that are small and highly energy-efficient.
Based on forecast type, the nowcast segment estimated to account for the major market share in 2019
Based on forecast type, nowcast provides detailed description of the approaching weather conditions from 0 to 6 hours in advance. It acts as a powerful tool to issue warnings about hazardous and high-impact weather conditions, such as tropical cyclones, thunderstorms, and tornadoes. It uses data obtained from various types of radars and satellites to analyze weather conditions of specific areas and make accurate weather forecasts for a few hours.
The North American region is estimated to be the largest market for weather forecasting systems in 2019
The North American region is estimated to be the largest market for weather forecasting systems in 2019. Increasing demand for weather forecasting systems from the oil & gas and aviation sectors is the key factor fueling the growth of the North America market. The US is expected to account for the largest share of the North America market in 2019.
The break-up of profiles of primary participants for the weather forecasting systems market has been given as follows:
By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C level - 35%, Director level - 25%, Others - 40%
By Region: North America - 45%, Europe - 20%, Asia Pacific - 30%, and Rest of the World (RoW) - 5%
Key players in the weather forecasting systems market are The Weather Company (US), Vaisala (Finland), Sutron Corporation (US), Campbell Scientific (US), Airmar Technology Corporation (US), All Weather, Inc. (US), Morcom International (US), Columbia Weather Systems (US), G. Lufft Mess-und Regeltechnik (Germany), and Skye Instruments (UK), among others.
This research report categorizes the weather forecasting systems market based on solution (hardware and software), application, vertical, forecast type, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report: This report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and its subsegments. The report covers the entire ecosystem of the market and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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