Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) — The “Weather Forecasting Systems Market by Solution (Hygrometer, Anemometer, Big Data Analytics Software), Application (Satellite, Drone, Balloon), Forecast Type (Nowcast, Short Term, Medium Term), Vertical, Purpose – Global Forecast to 2029” report has been published. ResearchAndMarkets.com Provided.
The weather forecasting systems market is valued at USD 2.2 billion in 2024 and is projected to reach USD 3.1 billion in 2029, growing at a CAGR of 7% from 2024 to 2029.
The market growth is primarily driven by technological advancements in the development of weather forecasting systems for accurate weather data. Weather forecasting systems are essential for predicting severe weather events, helping to mitigate potential damages and enhance public safety. There is an increasing demand for weather monitoring systems across industries to adjust their business activities according to the changes in prevailing weather conditions, which in turn drives the overall market growth.
Asia Pacific is projected to exhibit the highest growth rate during the forecast period. The market growth in this region is driven by the increasing demand for advanced forecasting systems to enhance disaster preparedness and response. Increasing focus on renewable energy projects, especially in countries such as China and India, requires accurate weather data for enhancing energy generation and grid management. The growing need for advanced weather forecasting systems in the agriculture industry to efficiently manage crops, optimize yields, and minimize losses due to adverse weather conditions is driving the market growth in this region.
Research Subjects
This market study covers the Weather Forecasting Systems market across various segments and sub-segments, with the aim to estimate the size and growth potential of this market across various parts based on solution, vertical, application, forecast type, objectives, and region.
The study also includes a detailed competitive analysis of the key players in the market, their company profiles, key observations regarding their products and business operations, recent developments, and the key market strategies adopted. Some of the key players profiled in the report include Vaisala (Finland), DTN (US), AccuWeather, Inc. (US), The Weather Company LLC (US), and StormGeo (Norway).
Main features
| Report Attributes | detail |
| Number of pages | 277 |
| Forecast Period | 2024-2029 |
| Estimated market value in 2024 (USD) | $2.2 billion |
| Market value forecast to 2029 (USD) | $3.1 billion |
| Compound Annual Growth Rate | 7% |
| Target area | global |
Market Trends
- driver
- Climate change patterns lead to uncertainty in rainfall
- The Need for Efficient Disaster Management
- The surge in renewable energy production
- Technological advances
- Constraints
- Dynamic nature of atmospheric changes
- The complexity of weather forecast models
- opportunity
- Improving supercomputer power for weather forecasting
- Improving the accuracy of long-term weather forecasts
- Introducing high-performance radars and small satellites to weather monitoring
- Increasing use of big data analytics
- assignment
- Lack of effective automation
- False weather alerts
Case Study Analysis
- Determining weather conditions using image recognition
- The Weather Company worked with IBM to design a high-performance computing system that provides rapid insight.
- Numerical modeling of severe storms and lightning, the effects of greenhouse gases on climate, and the effects of aerosols on precipitation and hurricane development
- Techcom Srl used the FT742-DM ultrasonic wind sensor for data collection and monitoring
Pricing Analysis
- Reference price analysis by major industry
- Reference price analysis by region
Ecosystem Analysis
- Notable companies
- Private and Small Businesses
- End users
Trade Analysis
- Export scenario for hydrometers, anemometers, barometers, hygrometers and similar floating measuring instruments
- Import scenario for hydrometers, anemometers, barometers, hygrometers and similar floating instruments
Technology Analysis
- Key Technologies
- Dual Polarization Radar
- Remote Sensing
- Complementary Technologies
- Numerical Weather Prediction Model
- High Performance Computing
Business Model
- Direct Sales Model
- Software as a Service (SaaS) model
- Government Contracting Model
- Rental Model
The impact of generative AI on the weather forecasting system market
- Use of generative AI in weather forecasting systems in major countries
- How generative AI impacts weather forecasting systems: Use cases
- How generative AI will impact weather forecasting systems
Technology Trends
- Supercomputer
- AI-based predictive model
- The emergence of next-generation radar technology
- Quantum Computing and Simulation
- Advanced communication networks and 5G
Featured Companies
- Vaisala
- DTN
- AccuWeather Inc.
- The Weather Company LLC
- Storm Geo
- OTT Hydromet
- Campbell Scientific Co., Ltd.
- All Weather Co., Ltd.
- Airmar Technology Co., Ltd.
- Molcom International
- MetOne Instruments Co., Ltd.
- Custom Weather
- Gill Instruments Limited
- Emergency
- Tomorrow Companies Inc.
- Understory vegetation
- Tempo Quest
- Liquid Robotics Inc.
- Sky View Systems
- SPEEDWELL CLIMATE LIMITED.
- Davis Instruments
- Hoskin Scientific
- Ensco Co., Ltd.
- Weather Routing Co., Ltd.
- ADVANCETECH INDIA PRIVATE LIMITED
For more information on this report, please visit: https://www.researchandmarkets.com/r/p4u9jj
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Weather forecasting system market
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