Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) — The “Weather Forecasting Systems Market by Solution (Hygrometers, Anemometers, Big Data Analytics Software), Application (Satellites, Drones, Balloons), Forecast Type (nowcast , Short Range, Medium) Range), Vertical, Purpose – Global Forecast to 2029″ was added to the report ResearchAndMarkets.com offering
The weather forecasting systems market is valued at USD 2.2 billion in 2024 and is expected to reach USD 3.1 billion by 2029, with a CAGR of 7% between 2024 and 2029.
Market growth is primarily driven by technological advancements in the development of weather forecasting systems to obtain accurate weather data. Weather forecasting systems are essential for predicting severe weather events that help reduce potential damage and improve public safety. The growing demand for weather tracking systems by various industries to align their business activities according to the changes in the prevailing weather conditions is driving the overall growth of the market.
Asia-Pacific is estimated to show the highest growth rate during the forecast period. The growth of the market in this region is due to the growing demand for advanced forecasting systems to improve disaster preparedness and response. The growing focus on renewable energy projects, especially in countries like China and India, requires accurate weather data to improve power generation and grid management. The growing need for advanced weather forecasting systems in the agriculture industry for effective crop management, optimizing yields and minimizing losses due to adverse weather conditions is driving the market growth in the region.
Research coverage
This market study covers the Weather Forecasting Systems market in various segments and sub-segments. It aims to estimate the size and growth potential of this market in different parts depending on the solution, vertical, application, type of forecast, purpose and region.
This study also includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to their products and business offerings, recent developments, and key market strategies adopted by them. Key companies featured in the report include Vaisala (Finland), DTN (US), AccuWeather, Inc. (USA), The Weather Company LLC (USA), and StormGeo (Norway), among others.
Key attributes
| Report attribute | Details |
| Number of pages | 277 |
| Forecast period | 2024-2029 |
| Estimated market value (USD) in 2024 | 2.2 million dollars |
| Projected market value (USD) for 2029 | 3.1 million dollars |
| Compound Annual Growth Rate | 7% |
| Regions Covered | global |
Market dynamics
- drivers
- Climate change patterns that give rise to precipitation uncertainties
- Need for efficient disaster management
- Increase in the production of renewable energy
- Technological advances
- restrictions
- Dynamic nature of atmospheric variables
- Complexity of weather forecasting models
- opportunities
- Increased computing capabilities of supercomputers for weather forecasting
- Improved accuracy of long-term weather forecasting
- Incorporation of high-end radars and small satellites in weather monitoring
- Increased use of Big Data analytics
- challenges
- Lack of effective automation
- Appearance of false weather alarms
Analysis of practical cases
- Using image recognition to determine weather conditions
- The Weather Company collaborated with IBM to design a high-performance computer system to provide rapid information
- Numerical modeling of severe storms and lightning, impact of greenhouse gases on climate and effect of aerosols on precipitation and hurricane development
- Techcom Srl Ultrasonic wind sensor FT742-DM used for data collection and monitoring
Price analysis
- Indicative Price Analysis, by Key Vertical
- Analysis of Indicative Prices, by Region
Analysis of ecosystems
- Featured companies
- Private and small companies
- End users
Trade analysis
- Export scenario of hydrometers, aerometers, barometers, hygrometers and similar floating instruments
- Import scenario of hydrometers, aerometers, barometers, hygrometers and similar floating instruments
Technological Analysis
- Key technologies
- Dual polarization radar
- remote sensing
- Complementary technologies
- Numerical weather forecasting models
- High performance computing
Business models
- Direct Sales Model
- Software as a Service (SaaS) model.
- Government Contract Model
- Rental model
Impact of generative AI on the weather forecasting system market
- Use of generative AI in weather forecasting systems of major countries
- Impact of generative AI on weather forecasting systems: use cases
- Impact of generative AI on weather forecasting systems
Technological trends
- supercomputers
- Forecasting models powered by artificial intelligence
- Emergence of new generation radar technology
- Simulation and quantum computing
- Advanced communication networks and 5G
Featured companies
- Vaisala
- DTN
- AccuWeather, Inc.
- The Weather Company LLC
- StormGeo
- OTT Hydromet
- Campbell Scientific, Inc.
- All Weather, Inc.
- Airmar Technological Corporation
- Morcom International
- Met One Instruments Inc.
- Custom time
- Gill Instruments Limited
- HUMBILITIES
- The Tomorrow Companies Inc.
- undergrowth
- TempoQuest
- Liquid Robotics, Inc.
- Skyview Systems
- Speedwell Climate Limited
- Davis Instruments
- Hoskin Scientific
- Ensco, Inc.
- Weather Routing, Inc.
- Advancetech India Pvt. Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/p4u9jj
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Market of weather forecasting systems
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