San Francisco, 14 November 2018: According to a report
by Grand View Research, Inc., global weatherforecasting system and solutions market is anticipated to value
USD 4.63 billion by 2025. Growing requirement for reliable information related
to climate and constant monitoring for safety & security purposes is
anticipated to propel demand for weather forecasting system. These systems can
help gain real-time insights into atmospheric conditions, which can ensure
sustainability, security, and safety.
Increasing number of stringent regulations
pertaining to environmental protection can influence growth of market. Growing
adoption of air and sea transportation can surge demand for reliable
information related to weather conditions to prevent damage through natural
disasters. Moreover, high dependency on rainfall for adequate water supply is
expected to fuel growth of market during the forecast period (2014 to
2025).
The weather forecasting system and solutions
market can be segregated on the basis of forecast range type, component type,
end-use, and region. Based on forecast range type, the market can be
categorized into medium-range forecast, short-range forecast, and long-range
forecast. Medium range segment is likely to grow fast over the forecast period.
This range type can vary from 7 to 10 days. It can be used for applications
such as water & flood management and agriculture. In addition, it can help
enterprises in making small operational strategic decisions.
Similarly, short range and long range segments
are also expected to witness significant growth over the forecast period owing
to rising need for security and safety.
Based on component type, the market can be
bifurcated into systems and solutions. In 2016, solutions segment dominated the
market and can continue to grow at similar pace during the forecast period.
Enhanced data analytics and advanced computing offered by solutions can reduce
operational and maintenance costs.
Access
Research Report of Weather Forecasting
Systems & Solutions Market@ www.grandviewresearch.com/industry-analysis/weather-forecasting-system-solutions-market
On the contrary, systems segment is estimated
to grow at highest CAGR during the forecast period. Growing need for radars and
weather stations for accurate weather predictions can influence growth. In
addition, demand for ground-based and air-based systems owing to need for
reliable climate data and growing overseas business can stimulate growth of
segment.
Based on end-use, the market can be classified
into defense & military, enterprise, and meteorology & weather service
provider. In 2016, enterprise segment dominated the market and can grow well
over the forecast period. Weather forecasting systems can provide accurate
climate predictions that can help enterprises in strategic decision-making. In
addition, growing requirement for advanced weather monitoring technologies can
fuel market growth.
Similarly, defense and military segment is
anticipated to witness significant growth over the forecast period attributed
to rising security and safety concerns across countries.
Moreover, meteorology & weather service
provider segment can grow at CAGR of 6% over the forecast period. Uncertain
rainfall and natural disasters can fuel adoption of weather forecasting systems
and solutions in this sector.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Regional segmentation includes Europe, North
America, Asia Pacific, and rest of the world (ROW). In 2016, North America
dominated the market and accounted for largest market share during the forecast
period. High prevalence of prominent players such as Lockheed Martin
Corporation; Campbell Scientific, Inc.; and Skye Instruments Limited can
influence growth of market in the region. In addition, proliferation of digital
services in multiple verticals coupled with early adoption of latest
technologies in various sectors such as defense & military, transportation,
renewable energy can fuel market growth. Moreover, continual technological
advancements in weather forecasting system to enhance accuracy can augment
growth of market in the region.
On the contrary, Asia Pacific is expected to
emerge as fastest growing regional market with CAGR of 9.7% during the forecast
period. Rising sea & air transportation coupled rainfall dependence for
water supply can surge demand for advanced weather forecasting systems and
solutions. In addition, growing need for disaster management attributed to
natural calamities can stimulate growth of market
Some of the leading companies
offering weather forecasting system and solutions are Airmar Technology Corp.,
Gill Instruments Limited, Lockheed Martin Corporation, MORCOM International,
and Munro Instruments Limited. Most companies are likely to focus on providing
innovative yet cost-effective solutions. In addition, companies can increase
their R&D investments to develop these innovative solutions and gain
traction among consumers.
Access
Press Release of Weather Forecasting Systems & Solutions Market@ www.grandviewresearch.com/press-release/global-weather-forecasting-system-solutions-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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