Pune, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The global meteorological equipment market is set to gain impetus from the rising adoption of next-generation workstations and digital databases equipped with big data analytics, machine learning platforms, and IoT. This information is published by Fortune Business Insights™ in a new study, titled, “Meteorological Equipment Market Size, Share & COVID-19 Impact Analysis, By Product Type (Cold Cloud, Warm Cloud and Mixed Phenomenon), By Application (Detection of Meteorological Conditions, Field Operation, Process Monitoring and Others), By Industry (Aviation, Agriculture, Energy & Utilities and Others) and Regional Forecast, 2020-2027.” The study further mentions that the market size was USD 2.04 billion in 2019 and is projected to reach USD 3.11 billion by 2027, exhibiting a CAGR of 5.5% during the forecast period.
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COVID-19 Pandemic to Obstruct Growth Backed by Slowing Down of Manufacturing Processes
The outbreak of the COVID-19 pandemic has caused a severe downfall in the distribution and manufacturing of meteorological equipment across the globe. China is considered to be one of the central manufacturing hubs of such equipment. But, as it is the epicenter of the pandemic, stringent lockdown measures have slowed down businesses. It may obstruct growth. We are providing detailed research reports to help you overcome this situation.
How Did We Create This Report?
As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities. We have also conducted a techno-economic study.
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Drivers & Restraints-
Increasing Need to Improve Business Performance will Favor Growth
Rapid changes in the weather patterns are affecting various industries negatively worldwide. To prevent such scenarios, people are making use of advanced meteorological equipment. This equipment would help end-users to improve their business performance. At the same time, they will be able to make accurate predictions of the future weather and generate accurate information. These factors are expected to accelerate the meteorological equipment market growth in the near future. However, in developing countries, some of the SMEs are still not aware of the meteorological equipment that can enhance their business activities. It may hinder growth.
Segment-
Aviation Segment to Grow Significantly Fueled by Integration of Humidity Profilers
Based on industry, the aviation segment held 44.3% in terms of the meteorological equipment market share in 2019. This growth is attributable to the surging concerns of determining weather conditions prior to the departures of scheduled flights. Additionally, the industry is integrating humidity profilers and automated bird radar systems with meteorological equipment to provide more comfort and ease to pilots.
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Regional Insights-
North America to Remain at Forefront Owing to Presence of Prominent Manufacturers
Geographically, North America procured USD 0.75 billion in terms of revenue in 2019. The region is anticipated to retain its dominant position throughout the forthcoming years stoked by the presence of reputed meteorological equipment manufacturers in the region.
Asia Pacific, on the other hand, is set to grow significantly because of the rising investments by emerging nations, such as India and China in research and development activities. Also, the increasing number of SMEs in the region would aid growth.
Competitive Landscape-
Key Players Focus on Introducing Unique Products to Gain Competitive Edge
The market contains various manufacturers that are striving to gain a competitive edge by launching state-of-the-art products. Some of the others are engaging in the acquisition strategy to enhance their existing portfolios of meteorological equipment. Below are the two latest industry developments:
- November 2019: IBM is planning to introduce its new weather forecasting system. It will be able to cover vital parts of the world and predict conditions up to 12 hours in advance. It is available in some west European countries, Japan, and the U.S. for gaining precise forecasting.
- October 2018: Vaisala acquired all the shares in Leopshere SAS to expand its Weather and Environment business and to strengthen its position in remote wind sensing technologies.
A list of all the renowned meteorological equipment providers operating in the market:
- The Weather Company (United States)
- Labom Mess- und Regeltechnik GmbH (Germany)
- Sutron (United States)
- Airmar Technology Corporation (United States)
- Campbell Scientific, Inc. (United States)
- All Weather, Inc. (United States)
- Vaisala (Sweden)
- Skye Instruments (UK)
- Morcom International (United States)
- Columbia Weather Systems (United States)
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Major Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTLE Analysis
- Porter’s Five Force Analysis
- Global Meteorological Equipment Market Share Analysis and Matrix, 2019
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
- Annexure / Appendix
- Global Meteorological Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Product Type (Value)
- Cold Cloud
- Warm Cloud
- Mixed Phenomenon
- By Application (Value)
- Detection of Meteorological Conditions
- Field Operation
- Process Monitoring
- Others
- By Industry (Value)
- Aviation
- Agriculture
- Energy & Utilities
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Product Type (Value)
- Global Meteorological Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
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