Dublin, Feb. 02, 2022 (GLOBE NEWSWIRE) -- The "Global Weather Forecasting Systems Market by Vertical (Agriculture, Aviation, Transportation & Logistics, Oil & Gas, Marine, Renewable Energy, Meteorology, Weather Service Providers), Application, Solution, Forecast Type, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Weather Forecasting Systems Market is projected to grow from USD 2.7 billion in 2021 to USD 3.5 billion by 2026, at a CAGR of 5.1% in terms of value during the forecasted period.
The market exhibits lucrative growth potential during the forecast period primarily due to the increasing demand for weather monitoring systems by end-user industries to align their business activities as per the changes in prevalent weather conditions. The market is also driven by the enhanced need for weather monitoring to support disaster management at a local, regional, and global level.
The Weather Forecasting Systems Market is dominated by a handful of established players, mainly due to the high technical expertise required to design the necessary equipment that are integrated into weather stations. The key players in the market include The Weather Company, Vaisala Oyj, DTN, AccuWeather Inc., and StormGeo. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The COVID-19 pandemic has deleteriously impacted the Weather Forecasting systems market. The short-term outlook for the Weather Forecasting systems market is ultimately dependent on the quick response of the governments to contain the COVID-19 outbreak, the effectiveness of their efforts, and the lingering impact of the ongoing pandemic on the global economic activity.
Based on application, the weather satellites segment is estimated to account for the largest market share from 2021 to 2026
Based on application, the weather satellites segment is estimated to lead the Weather Forecasting systems market from 2021 to 2026 and is projected to grow further due to the increasing need for earth monitoring and weather observing systems to measure, monitor, and provide valuable inputs on several climatic parameters.
Based on forecast type, the short-range segment is projected to grow at the highest CAGR during the forecast period
Short-term Weather Forecasting method provides information on the upcoming weather where the projection time ranges from few hours to 48 hours or in some cases up to 72 hours. A short-range forecast is based on weather charts, maps, satellite images, weather balloons and ground-based information. The information provided is not only used for weather prediction, but it also serves in other applications like aviation, ship routing, etc. Hence, the increasing demand for weather forecasts by fisheries and transportation sectors is anticipated to drive the growth of the short-range segment of the Weather Forecasting systems market from 2021 to 2026.
Based on vertical, the others segment is estimated to exhibit the fastest growth in the Weather Forecasting systems market from 2021 to 2026
Based on vertical, the others segment is expected to witness the fastest growth during the forecast period. 2021 to 2026. The requirement of Weather Forecasting systems in media and telecommunications, sports complexes, and other private enterprises are driving the growth of Weather Forecasting systems market.
The Asia Pacific market estimated to lead the Weather Forecasting Systems market in the forecast period
Based on region, Asia Pacific is expected to lead the Weather Forecasting systems market from 2021 to 2026. The growth of the Asia Pacific Weather Forecasting Systems market is primarily driven by increasing focus on increasing investments in Weather Forecasting Systems technologies by countries in this region Besides, the regional economies have undertaken several projects related to sustainable and renewable energy generation to protect the environment and avoid energy crises in the future. Since most renewable energy sources are vulnerable to weather fluctuations, the need to maximize energy output necessitates the adoption of sophisticated weather monitoring and forecasting systems to ensure optimal output, thereby driving the Weather Forecasting systems market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Weather Forecasting Systems Market from 2021 to 2026
4.2 Weather Forecasting Systems Market, by Forecast Type
4.3 Weather Forecasting Systems Market, by Vertical
4.4 Weather Forecasting Systems Market, by Region
4.5 Weather Forecasting Systems Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Climate Change Patterns Resulting in Uncertainties Related to Rainfall
5.2.1.2 Need for Continuous Weather Monitoring to Enable Disaster Management
5.2.1.3 Upsurge in Production of Renewable Energy
5.2.2 Restraints
5.2.2.1 Dynamic Nature of Atmospheric Variables
5.2.2.2 Complexity of Weather Forecasting Models
5.2.3 Opportunities
5.2.3.1 Increasing Computing Capabilities of Supercomputers for Weather Forecasting
5.2.3.2 Enhancing Accuracy of Long-Range Weather Forecasting
5.2.3.3 Incorporation of High-End Radar and Small Satellites in Weather Monitoring
5.2.3.4 Increasing Use of Big Data Analytics in Weather Forecasting
5.2.4 Challenges
5.2.4.1 Lack of Effective Automation
5.2.4.2 Occurrence of False Weather Alarms
5.2.4.3 Significant Capital Investment Requirement
5.3 Ranges and Scenarios
5.4 Impact of COVID-19 on Weather Forecasting Systems Market
5.4.1 Demand-Side Impact
5.4.1.1 Key Developments from January 2020 to November 2021
5.4.2 Supply-Side Impact
5.4.2.1 Key Developments from January 2020 to November 2021
5.5 Trends/Disruptions Impacting Customer's Business
5.5.1 Revenue Shift and New Revenue Pockets for Weather Forecasting Systems
5.6 Average Selling Price Analysis of Weather Forecasting Systems, 2020
5.7 Operational Data
5.8 Weather Forecasting Systems Market Ecosystem
5.8.1 Prominent Companies
5.8.2 Private and Small Enterprises
5.8.3 End-users
5.9 Technology Analysis
5.9.1 Dual Polarization Radar
5.9.2 Advanced Satellites
5.10 Use Case Analysis
5.10.1 Automated Weather Analysis Using Image Recognition
5.10.2 IBM Global High-Resolution Atmospheric Forecasting System (GRAF)
5.10.3 InCloud Weather Forecasting
5.11 Value Chain Analysis of Weather Forecasting Systems Market
5.12 Porter's Five Forces Analysis
5.13 Tariff and Regulatory Landscape
5.14 Trade Analysis
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Supercomputers
6.2.2 Computer Models with Fast Processors
6.2.3 Emergence of Next-Generation Radar Technology
6.2.4 Big Weather Data Analysis
6.2.4.1 Hadoop and MapReduce
6.2.5 Intelligent Weather Predicting Modules
6.3 Supply Chain Analysis
6.4 Impact of Megatrends
6.4.1 Automation
6.4.2 Big Data, Internet of Things (IoT), and Artificial Intelligence
6.4.3 Digitization
6.5 Innovations and Patent Registrations
7 Weather Forecasting Systems Market, by Solution
7.1 Introduction
7.2 Hardware
7.2.1 Barometers
7.2.1.1 Need for Continuous Monitoring of Atmospheric Pressure Drives Barometers Segment
7.2.2 Anemometers
7.2.2.1 Need for Accuracy in Measuring Speed of Airflow Fuels Anemometers Segment
7.2.3 Hygrometers
7.2.3.1 Improved Accuracy of Forecasts Boosts Demand for Hygrometers
7.2.4 Rain Gauges
7.2.4.1 Need for Measurement of Precipitation Expected to Boost Rain Gauges Market
7.2.5 Thermometers
7.2.5.1 Different Thermometers Used for Different Purposes at Weather Stations
7.2.6 Communication & Data Loggers
7.2.6.1 Need for Detailed Weather Information of Specific Areas Boosts Communication & Data Loggers Demand
7.2.7 Sounding Systems & Radiosondes
7.2.7.1 High Frequency of Launching Radiosondes Drives Growth of Segment
7.2.8 Satellite Sensors
7.2.8.1 Need for High-Resolution Images Drives Satellite Sensors Segment
7.2.9 Others
7.2.9.1 Demand for Measurement of Wind Direction & Cloud Base Heights Boosts Demand for Windvanes and Ceilometers
7.3 Software
7.3.1 Data Collection & Processing Software
7.3.1.1 Use of Data Collection & Processing Software to Plan Energy Requirements in Extreme Conditions Drives Growth
7.3.2 Weather Monitoring & Display Software
7.3.2.1 Provision of Real-Time Updates of Extreme Conditions Drives Weather Monitoring & Display Software Segment
7.3.3 Supercomputing
7.3.3.1 Supercomputers Enable Collection and Storage of All Weather Data
7.3.4 Big Data Analytics
7.3.4.1 Need for In-Depth Detailed Analytics Fuels Big Data Analytics Segment
7.3.5 Others
7.3.5.1 Need for a Robust Method to Predict and Analyze Weather Data Sets Drives Use of AI, ML, and Time Series
8 Weather Forecasting Systems Market, by Application
8.1 Introduction
8.2 Weather Satellites
8.2.1 Weather Satellites Pivotal to Functioning of Meteorologists
8.3 Weather Observing Systems
8.3.1 Automated Weather Observing Systems Play Major Role in Smooth Flight Operation
8.4 Weather Stations
8.4.1 Automatic Weather Stations Enable Measurements from Remote Areas
8.5 Weather Drones
8.5.1 Drone Technology - Major Advancement in Weather Forecasting Methodology
8.6 Weather Radar
8.6.1 Transmission of Data to Supercomputers for Analysis and Forecasting Fuels Weather Radar Segment
8.7 Weather Lidar
8.7.1 Continuous Observation of PBL Drives LiDAR Segment
8.8 Others
8.8.1 Need to Monitor Indoor and Outdoor Weather Conditions Boosts Demand for Digital Weather Stations and Drifting Buoys
9 Weather Forecasting Systems Market, by Vertical
9.1 Introduction
9.2 Agriculture
9.2.1 Need to Plan Optimal Development and Yield of Crops Drives Agriculture Segment
9.3 Aviation
9.3.1 Need to Ensure Safety of Air Passengers and Flight Crew Boosts Aviation Segment
9.4 Transportation & Logistics
9.4.1 Need for Smooth and On-Time Transportation & Logistics Boosts Segment
9.5 Oil & Gas
9.5.1 Assistance in Planning Deployment of Equipment, Offshore Drilling, and Route Planning Boosts Oil & Gas Segment
9.6 Marine
9.6.1 Demand from Marine Segment Driven by Need to Analyze Weather Conditions to Safeguard Crews of Vessels
9.7 Renewable Energy
9.7.1 High Dependence of Renewable Sources on Weather Conditions Drives Segment
9.8 Military
9.8.1 Need to Ensure Operational Efficacy Expected to Drive Segment Growth
9.9 Meteorology
9.9.1 Importance in Air Traffic Management Services Drives Meteorology Segment
9.10 Weather Service Providers
9.10.1 Demand for Accurate and Real-Time Weather Information Fuels Segment
9.11 Others
9.11.1 Need for Effective Planning and Decision-Making Fuels Growth in Other Verticals
10 Weather Forecasting Services Market, by Forecast Type
10.1 Introduction
10.2 Nowcast
10.2.1 Accurate Prediction of Weather Conditions ~6 Hours in Advance Drives Nowcast Segment
10.3 Short Range
10.3.1 Demand from Fisheries and Transportation to Boost Short Range Segment
10.4 Medium Range
10.4.1 Requirement for Medium-Range Forecast in Agricultural Industry Fuels Medium Range Segment
10.5 Extended Range
10.5.1 Demand from Resource Management and City Planning Sectors Boosts Extended Range Segment
10.6 Long Range
10.6.1 Increasing Demand from Industries Directly Impacted by It Drives Long Range Segment
11 Regional Analysis
12 Competitive Landscape
12.1 Introduction
12.2 Market Ranking Analysis of Key Players, 2020
12.3 Market Share Analysis
12.4 Company Product Footprint Analysis
12.5 Company Evaluation Quadrant
12.5.1 Star
12.5.2 Emerging Leader
12.5.3 Pervasive
12.5.4 Participant
12.6 Start-Up/SME Evaluation Quadrant
12.6.1 Progressive Company
12.6.2 Responsive Company
12.6.3 Starting Block
12.6.4 Dynamic Company
12.7 Competitive Scenario and Trends
12.7.1 Market Evaluation Framework
12.7.2 New Product Launches and Developments
12.7.3 Deals
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 The Weather Company
13.2.2 Vaisala Oyj
13.2.3 Accuweather, Inc.
13.2.4 DTN
13.2.5 Stormgeo
13.2.6 Meteogroup
13.2.7 Sutron Corporation
13.2.8 Campbell Scientific
13.2.9 All Weather, Inc.
13.2.10 Airmar Technology Corporation
13.2.11 Morcom International
13.2.12 Met One Instruments Inc.
13.2.13 G. Lufft Mess-Und Regeltechnik GmbH
13.2.14 Gill Instruments
13.2.15 Customweather
13.2.16 Speedwell Weather
13.2.17 Hoskin Scientific
13.2.18 Skye Instruments
13.2.19 Davis Instruments
13.2.20 Ensco
13.2.21 Weather Routing, Inc.
13.3 Other Players
13.3.1 Understory
13.3.2 Tempoquest
13.3.3 Umibet GmbH
13.3.4 Liquid Robotics
13.3.5 Skyview Systems Ltd.
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7iv6fk
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