What Has Driven the Growth of the Weather Forecasting Systems Market in Recent Years?
The weather forecasting systems market has seen considerable growth due to a variety of factors.
• In the recent past, the market size for weather forecasting systems has exhibited consistent growth. It is projected to expand from $2.6 billion in 2024 to $2.7 billion in 2025, with a compound annual growth rate (CAGR) of 3.9%.
The historical growth trends in this market are linked to expansions in climate research and monitoring, readiness for natural disasters, agricultural and crop management strategies, as well as air and sea transport, and evaluating the impacts of climate change.
What is the Market Size Forecast for the Weather Forecasting Systems Market?
The weather forecasting systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for weather forecasting systems is anticipated to experience consistent expansion in the coming years, projecting to reach $3.2 billion by 2029 with a compound annual growth rate (CAGR) of 4.3%.
Factors contributing to this growth within the forecast period incorporate integration of renewable energy, the rise of smart agriculture, occurrence of extreme weather events, efforts towards environmental conservation, and advances in space exploration and astronomy. Key trends for this period are expected to be high-definition weather modeling, the incorporation of AI and machine learning, weather data portrayal, integration of weather apps, and monitoring weather from space.
Which Factors Are Boosting Growth In The Weather Forecasting Systems Market?
The surge in uptake of renewable energy sources is propelling the expansion of the weather forecasting systems market at a notable rate. There's variability in the production of renewable energy, especially wind and solar energy, owing to their weather dependency, prompting the necessity for effective forecasting systems to maximize efficiency and minimize downtime. For instance, Climate Central, a US nonprofit news organization, reported in April 2024 that the U.S produced 238,121 gigawatt-hours (GWh) of electricity from solar energy in 2023, with California and Texas as the leading producers. Many Americans have articulated their preference for more solar and wind energy and less carbon emissions. By the conclusion of 2023, the total solar capacity of the country summed up to about 139 gigawatts (GW) from a combination of utility-scale and small-scale installations. This was a surge of over 26 GW or 23% compared to the previous year, 2022. Consequently, the escalating dependence on renewable energy sources is anticipated to catalyze the expansion of the weather forecasting systems market in the imminent years.
What Key Areas Define The Segmentation Of The Global Weather Forecasting Systems Market?
The weather forecasting systems market covered in this report is segmented –
1) By Type: Short-Range, Medium-Range, Long-Range
2) By Component: Data Loggers, Software, Sensors And Hardware
3) By Equipment: Barometer, Anemometer, Hygrometer, Rain Gauge, Thermometer, Sling Psychrometer, Weather Balloons
4) By End User: Aviation, Military, Energy, Agriculture, Marine, Transportation
Subsegments:
1) By Short-Range Forecasting: Nowcasting, Up To 3 days
2) By Medium-Range Forecasting: 3 To 10 days
3) By Long-Range Forecasting: 10 days To Several Months, Seasonal Forecasting
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How Are Emerging Trends Reshaping The Dynamics Of The Weather Forecasting Systems Market?
A leading trend emerging in the market is the leveraging of advanced weather monitoring systems. Corporations in the weather forecasting systems industry are prioritizing the creation of such advanced systems to solidify their standing. Case in point, in February 2024, India accomplished a successful launch of the INSAT-3DS meteorological satellite using the GSLV-F14 rocket from the Satish Dhawan Space Centre, located in Sriharikota. As the sixth satellite of the INSAT series, INSAT-3DS, weights 2,274 kilograms and is furnished with four significant payloads: a six-channel multispectral imager, a 19-channel sounder, a Data Relay Transponder (DRT), and a Satellite Aided Search & Rescue transponder (SAS&R). These features aim to boost environmental dynamics comprehension, enhance weather predictions, maximize data usage, and support emergency responses through sophisticated satellite technology.
Who Are the Key Players in the Weather Forecasting Systems Market?
Major companies operating in the weather forecasting systems market include:
• The Weather Company
• Sutron Corporation
• Campbell Scientific Inc.
• Airmar Technology Corporation
• All Weather Co.
• Morcom International
• Columbia Weather Systems
• G. Lufft Mess-und Regeltechnik
• Vaisala Oyj
• Skye Instruments Ltd.
• AccuWeather Inc.
• StormGeo AS
• Lockheed Martin Corporation
• Liquid Robotics Inc.
• Spire Global Inc.
• Earth Networks Inc.
• Skymet Weather Services
• DTN Inc.
• Honeywell International Inc.
• International Business Machines Corporation
• MeteoGroup
• Raytheon Company
• Tomorrow.io
• OTT HydroMet Ltd.
• Athenium Analytics
• WeatherOps
• Fugro Inc.
• The Weather Network
• Met Office
• WeatherBug Org.
• Weatherzone Org.
• WeatherBell Analytics Org.
• Meteoblue AG
• Meteo-France SA
What Is The Most Dominant Region In The Weather Forecasting Systems Market?
North America was the largest region in the weather forecasting systems market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the weather forecasting systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
