Weather Forecasting Systems Market by Solution (Hygrometers, Anemometers, Big Data Analytics Software), Application (Satellites, Drones, Balloons), Forecasting Type (Nowcast, Short Range, Medium Range), Vertical, Purpose - Global Forecast to 2029
The Weather forecasting systems market is valued at USD 2.2 billion in 2024 and is projected to reach USD 3.1 billion by 2029, at a CAGR of 7.0% from 2024 to 2029. The growth of market is primarily driven by technological advancements in the development of weather forecasting systems for accurate weather data. Weather forecasting systems are essential for predicting severe weather events which helps to reduce potential damage and enhance public safety. The rising demand for weather monitoring systems by various industries to align their business activities as per the changes in prevalent weather conditions drives the overall market growth.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million)
Segments
By Solution, Application, Forecasting Type, Vertical, Purpose
Regions covered
North America, Europe, APAC, RoW
"Based on Solution, the software segment is estimated to show the highest CAGR during the forecast period."
The Software segment by Solution is estimated to grow at highest CAGR during the forecast period. The growth of the segment is attributed to the increasing use of advanced software algorithms and the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML). These technologies enhance the predictive capabilities and accuracy of weather forecasting systems by efficiently processing large volumes of data from various sources such satellites and sensors. The continuous upgradationg of software solutions for more precise and timely weather predictions drives the market growth of the segment.
"Based on Application, the Weather Satellite segment is estimated to dominate the market during the forecast period."
The Weather satellite segment by Application is estimated to hold for the highest market share during the forecast period. The growth of the segment is being driven by the innovations in satellite technology, such as improvements in sensor accuracy, data processing speeds, and real-time data transmission to enhance the overall effectiveness of weather forecasting. Global initiatives to monitor climate change and environmental conditions foster collaborations that support the deployment and maintenance of advanced weather satellites. The increasing deployment and maintenance of advanced weather satellites due to the growing global initiatives to monitor climate change and environmental conditions drives the market growth of the segment.
"Based on regions, the Asia Pacific region is estimated to grow at highest CAGR during the forecast period."
The Asia Pacific region is estimated to show 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 enhance disaster preparedness and response. The growing focus on renewable energy projects, particularly in countries like China and India requires precise weather data to enhance energy generation and grid management. The rising need of advanced weather forecasting systems in agriculture industry for effective crop management, optimizing yields, and minimizing losses due to adverse weather conditions drives the market growth in the region.
The break-up of the profile of primary participants in the Weather forecasting systems market:
By Company Type: Tier 1 - 49%, Tier 2 - 37%, and Tier 3 - 14%
By Designation: C Level - 55%, Director Level - 27%, and Others - 18%
By Region: North America - 32%, Europe - 32%, Asia Pacific - 16%, Middle East - 10%, Latin America - 7%, and Africa - 3%
Major companies profiled in the report include Vaisala (Finland), DTN (US), Accuweather, Inc. (US), The Weather Company LLC (US), and StormGeo (Norway) among others.
Research Coverage:
This market study covers the Weather forecasting systems market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on solution, vertical, application, forecasting type, purpose and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Reasons to buy this report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Weather forecasting systems market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. The Weather forecasting systems market is experiencing substantial growth, primarily driven by the increasing need of precise and accurate weather forecasting data. The innovations and technological advancement by key players is fostering demand for Weather forecasting systems to enhance the weather predictions. The report provides insights on the following pointers:
Market Drivers (Climate change patterns resulting in uncertainties related to rainfall, Need for continuous weather monitoring to enable disaster management, Upsurge in production of renewable energy, and Technological advancement), restraints (Dynamic nature of atmospheric variables, and Complexity of weather forecasting models), Opportunities (Increasing computing capabilities of supercomputers for weather forecasting, Enhancing accuracy of long-range weather forecasting, Incorporation of high-end radar and small satellites in weather monitoring and Increasing use of big data analytics in weather forecasting) challenges (Lack of effective automation and Occurrence of false weather alarms) there are several factors that could contribute to an increase in the Weather forecasting systems market.
Market Penetration: Comprehensive information on Weather forecasting systems offered by the top players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Weather forecasting systems market
Market Development: Comprehensive information about lucrative markets - the report analyses the Weather forecasting systems market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Weather forecasting systems market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and solution providing capabilities of leading players in the Weather forecasting systems market
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 INCLUSIONS AND EXCLUSIONS
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 List of key primaries
2.1.2.3 Breakdown of primaries
2.1.2.4 Key insights from primary respondents
2.2 FACTOR ANALYSIS
2.2.1 INTRODUCTION
2.2.2 DEMAND-SIDE ANALYSIS
2.2.3 SUPPLY-SIDE ANALYSIS
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
2.6 LIMITATIONS
2.7 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN WEATHER FORECASTING SYSTEMS MARKET
4.2 WEATHER FORECASTING SYSTEMS MARKET, BY SOLUTION
4.3 WEATHER FORECASTING SYSTEMS MARKET, BY PURPOSE
4.4 WEATHER FORECASTING SYSTEMS MARKET, BY FORECAST TYPE
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 rainfall uncertainties
5.2.1.2 Need for efficient disaster management
5.2.1.3 Upsurge in production of renewable energy
5.2.1.4 Technological advancements
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 Enhanced accuracy of long-range weather forecasting
5.2.3.3 Incorporation of high-end radars and small satellites into weather monitoring
5.2.3.4 Increasing use of big data analytics
5.2.4 CHALLENGES
5.2.4.1 Lack of effective automation
5.2.4.2 Occurrence of false weather alarms
5.3 VALUE CHAIN ANALYSIS
5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.5 CASE STUDY ANALYSIS
5.5.1 USE OF PICTURE RECOGNITION TO DETERMINE WEATHER CONDITIONS
5.5.2 THE WEATHER COMPANY COLLABORATED WITH IBM TO DESIGN HIGH-PERFORMANCE COMPUTING SYSTEM TO DELIVER QUICK INSIGHTS
5.5.3 NUMERICAL MODELING OF SEVERE STORMS AND LIGHTNING, IMPACT OF GREENHOUSE GASES ON CLIMATE, AND EFFECT OF AEROSOLS ON PRECIPITATION AND HURRICANE DEVELOPMENT
5.5.4 TECHCOM SRL USED FT742-DM ULTRASONIC WIND SENSOR FOR DATA COLLECTION AND MONITORING
5.6 PRICING ANALYSIS
5.6.1 INDICATIVE PRICING ANALYSIS, BY KEY VERTICAL
5.6.2 INDICATIVE PRICING ANALYSIS, BY REGION
5.7 WEATHER FORECASTING SYSTEMS MARKET: OPERATIONAL DATA
5.8 ECOSYSTEM ANALYSIS
5.8.1 PROMINENT COMPANIES
5.8.2 PRIVATE AND SMALL ENTERPRISES
5.8.3 END USERS
5.9 TRADE ANALYSIS
5.9.1 EXPORT SCENARIO OF HYDROMETERS, AEROMETERS, BAROMETERS, HYGROMETERS, AND SIMILAR FLOATING INSTRUMENTS
5.9.2 IMPORT SCENARIO OF HYDROMETERS, AEROMETERS, BAROMETERS, HYGROMETERS, AND SIMILAR FLOATING INSTRUMENTS
5.10 REGULATORY LANDSCAPE
5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.11 KEY CONFERENCES AND EVENTS, 2024-2025
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.12.2 BUYING CRITERIA
5.13 TECHNOLOGY ANALYSIS
5.13.1 KEY TECHNOLOGIES
5.13.1.1 Dual polarization radar
5.13.1.2 Remote sensing
5.13.2 COMPLEMENTARY TECHNOLOGIES
5.13.2.1 Numerical weather prediction models
5.13.2.2 High-performance computing
5.14 TECHNOLOGY ROADMAP
5.15 BILL OF MATERIALS
5.16 TOTAL COST OF OWNERSHIP
5.17 BUSINESS MODELS
5.17.1 DIRECT SALES MODEL
5.17.2 SOFTWARE AS A SERVICE (SAAS) MODEL
5.17.3 GOVERNMENT CONTRACT MODEL
5.17.4 RENTAL MODEL
5.18 INVESTMENT AND FUNDING SCENARIO
5.19 IMPACT OF GENERATIVE AI ON WEATHER FORECASTING SYSTEMS MARKET
5.19.1 INTRODUCTION
5.19.2 USE OF GENERATIVE AI IN WEATHER FORECASTING SYSTEMS BY TOP COUNTRIES
5.19.3 IMPACT OF GENERATIVE AI ON WEATHER FORECASTING SYSTEMS: USE CASES
5.19.4 IMPACT OF GENERATIVE AI ON WEATHER FORECASTING SYSTEMS
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 TECHNOLOGY TRENDS
6.2.1 SUPERCOMPUTERS
6.2.2 AI-POWERED FORECASTING MODELS
6.2.3 EMERGENCE OF NEXT-GENERATION RADAR TECHNOLOGY