New York, March 24, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Weather Monitoring System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Hardware and Software) and Application (Metrology, Energy & Power, Transportation, Aviation, and Others)”, the global weather monitoring system market growth is driven by the increasing deployment of solar and wind plants globally due to the wide adoption of renewable energy, the increasing development and modernization of airports worldwide, increasing demand for weather monitoring system in aviation industry.
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| Report Coverage | Details |
| Market Size Value in | US$ 1.74 billion in 2021 |
| Market Size Value by | US$ 2.93 billion by 2028 |
| Growth rate | CAGR of 7.7% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 144 |
| No. Tables | 59 |
| No. of Charts & Figures | 71 |
| Historical data available | Yes |
| Segments covered | Component and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Weather Monitoring System Market: Competitive Landscape and Key Developments
Baron Services, inc.; Aeron Systems Private Limited; NVIS Technologies PVT. Ltd.; Logics POWERAMR; Boltek; Free Spirits Green Labs Private Limited; Telegrafia A.S.; Trinity Touch; Vaisala; and Trafitek are the key players profiled during this market study. In addition, several other market players were studied and analyzed to get a holistic view of the global weather monitoring system market and its ecosystem.
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In 2022, Logics PowerAMR expanded its global presence in 10 Countries after covering all Indian states and installations in over 450 cities in India.
In 2021, Vaisala announced an agreement with TomTom, to bring actionable road weather data and accurate insights to the TomTom Hazard Warnings service.
Due to its massive maritime trade, North America has a highly advanced port infrastructure and maritime sector. North America's import has risen steadily from US$ 571.22 in 2016 to US$ 741.87 in 2021 in terms of goods volumes. Moreover, the US government invests significantly in developing and improving transport infrastructure. For instance, in November 2021, the US government signed US$ 1 trillion bipartisan infrastructure, under which, US$ 17 billion would be allocated to upgrade the inland ports and waterways, coastal ports, and freight networks across the country. Further, the region also accounts for the highest number of airports, with the US alone having approx. 18,000 airports.
Moreover, the Airports Council International reported a US$ 3.6 billion investment in 11 airport projects in the US and Canada. The investments by airport authorities toward the modernization of airports in North America are developing robust business opportunities for the market players. Thus, the growing development and modernization of airports and ports are likely to create ample growth opportunities for weather monitoring system market players in the years to come. Further, with the growing emphasis on curtailing carbon emissions, governments in the region emphasize clean energy. For instance, in March 2021, the US government announced to be carbon neutral by 2050 and Canada plans to be carbon neutral by 2050. Due to such initiatives, the deployment of solar and wind power projects is gaining major traction which is fueling the weather monitoring system market growth.
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Moreover, the weather monitoring system market is growing in the meteorology vertical due to the increased need for automation across weather departments in countries such as the US, Canada, and Mexico. Climatic conditions vary across different parts of the US. Different meteorological departments across North America have recorded an increase in winter precipitation in the form of rain instead of snow, which results in heavy snowstorms and extreme cold waves capable of paralyzing cities, and causing power outages and huge economic losses. Thus, these factors are driving the weather monitoring system market growth.
Weather Monitoring System Market: Application Overview
Based on application, the weather monitoring system market is segmented as agriculture, energy and power, transportation and logistics, aviation, and others. The meteorology segment led the weather monitoring system market in 2020. The meteorology department is responsible for meteorological observations, weather forecasting, and seismology.
The weather monitoring systems market is increasing due to the rising emphasis on forecasting weather conditions in various regions to manage weather disasters, military and defense applications, and others. In addition, the presence of various market players in this application that offers meteorological weather monitoring systems is further driving the uptake of these systems in the meteorology department. For example, Swan Environmental Pvt.Ltd., a product used by the meteorology department WEATHERPAK®, is used on ships requiring accurate wind calculations, port, starboard wind data, larger military vessels, and research vessels. ACOEM ECOTECH, Trelleborg, and many other companies also offer meteorological weather monitoring systems. The meteorology department uses weather monitoring systems to avoid various weather disasters, driving the weather monitoring system market.
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Impact of COVID-19 Pandemic on APAC Weather Monitoring System Market Growth:
According to the Organization for Economic Co-operation and Development, the COVID-19 pandemic has adversely affected key economies, such as India, Japan, and Australia, due to inadequate healthcare facilities, government-imposed restrictions, and limited workforce at production sites. At the same time, the strong government support has increased the air transportation movement in the region to fight against the pandemic by supplying essential healthcare products and vaccines across the world. In addition, the air cargo sector is actively transporting much-needed medical equipment and supplies in Asian countries, as per the Association of Asia Pacific Airlines. Therefore, the growing demand for air cargo to supply medical equipment has boosted the weather monitoring system market.
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