Global Weather Forecasting Systems Market Size, by Solution (Hardware, Software), by Application, by Vertical, by Forecast Type (Nowcast, Short-range, Medium-range, Extended-range, Long-range), and Regional Forecasts 2022-2032
The Global Weather Forecasting Systems Market was valued at approximately USD 2.06 billion in 2023 and is projected to grow with a robust compound annual growth rate (CAGR) of 7.0% over the forecast period 2024–2032. The need for precise and reliable weather predictions has become increasingly critical across numerous industries, including aviation, agriculture, renewable energy, and military applications. The escalating demand for advanced forecasting technologies is propelled by rising environmental concerns, growing reliance on renewable energy, and the increasing frequency of extreme weather events.
Governments worldwide have been actively promoting renewable energy initiatives, with substantial investments driving the demand for accurate weather forecasting systems. For instance, as part of India’s renewable energy initiatives, investments exceeding USD 42 billion have been allocated since 2014 to strengthen energy infrastructure. Weather forecasting systems play a pivotal role in optimizing energy production by providing essential data for scheduling operations, thus enhancing efficiency and reducing risks associated with climate volatility.
Furthermore, the integration of big data analytics, machine learning, and high-performance computing into weather forecasting systems is revolutionizing the field, enabling more accurate and timely predictions. However, challenges such as the complexity of climate models and the occasional inaccuracies of predictions hinder market growth. Nevertheless, ongoing advancements in sensor technologies and predictive analytics are anticipated to alleviate these constraints over the forecast period.
Regionally, North America holds the largest market share due to the presence of major market players and advanced technological infrastructure. Meanwhile, Asia Pacific is expected to experience the highest growth, driven by stringent regulatory standards, increased investments in renewable energy, and the growing adoption of weather forecasting solutions in emerging economies like China and India.
Major market players included in this report are:• Vaisala
• AccuWeather, Inc.
• IBM Corporation
• Lockheed Martin Corporation
• Honeywell International, Inc.
• Raytheon Company
• Campbell Scientific, Inc.
• Gill Instruments Limited
• Met One Instruments Inc.
• Airmar Technology Corp.
• Columbia Weather Systems Inc.
• Munro Instruments Limited
• Skye Instruments Limited
• All Weather, Inc. (AWI)
• Sutron
The detailed segments and sub-segment of the market are explained below:
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 Application
• Weather Satellites
• Weather Observing Systems
• Weather Stations
• Weather Drones
• Weather Balloons
• Weather LiDAR
• Weather Radar
• Others
By Forecast Type
• Nowcast
• Short-range
• Medium-range
• Extended-range
• Long-range
By Vertical
• Agriculture
• Aviation
• Renewable Energy
• Marine
• Oil & Gas
• Transport & Logistics
• Military
• Meteorology
• Weather Service Providers
• Others
By Region
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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Years considered for the study are as follows:• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand-side and supply-side analysis of the market.
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