The global weather forecasting systems and solutions market size is
expected to reach USD 4.63 billion by 2025, according to a study conducted by
Grand View Research, Inc., experiencing a CAGR of 7.1% during the forecast
period. Spiraling demand for disaster management and weather monitoring systems
and growing concerns regarding rainfall uncertainties are providing a fillip to
the market.
Besides this, soaring need for accurate
numerical weather prediction models and growing sea & air transportations
are leading to the implementation of advanced weather forecasting systems
across different industries. Improvements in the economic conditions of the
Asia Pacific region and increasing concerns regarding safety and security are
anticipated to propel the market.
Weather forecasting systems help
enterprises in improving trading decisions and enhancing their distribution,
warehousing, and transportation processes. Industries such as food
technologies, agriculture, transportation, life science, renewable energy, and
construction use these systems for improving decision making and reducing
uncertainties caused due to changes in weather, such as floods, drought, or
tornados. These factors are poised to stimulate the growth of the market.
Urban air pollution causes threat to human
health, due to which organizations are increasingly adopting weather
forecasting systems to protect the environment. The system helps in measuring
weather conditions and monitoring air to estimate the air quality. However,
issues such as complexities in weather forecasting processes and models are estimated
to hamper the industry growth.
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of Weather Forecasting
Systems & Solutions Market@ www.grandviewresearch.com/industry-analysis/weather-forecasting-system-solutions-market
Further key findings from the study suggest:
· On the basis of components, solutions will
continue to dominate the market until 2025, representing over 64.0% of the
overall revenue.
· The medium-range forecast segment is
projected to exhibit the highest CAGR of 8.1% during the forecast period, owing
to increasing competitive rivalry and growing adoption of advanced
technologies, which offer enhanced machine learning techniques and improved
data analytics
· The enterprise segment is expected to
dominate the market with a CAGR of 7.6% over the forecast period. The growth of
the segment can be attributed to surging demand for weather forecasting
technologies among various industries such as transportation, agriculture, and
aviation
· North America was the leading revenue
contributor in 2016, owing to early adoption of the technology and strong
presence of leading market players. Asia Pacific is anticipated to emerge as
the fastest growing regional market, registering a CAGR of 9.7% over the
forecast period
· Prominent players operating in the weather
forecasting system market include Airmar Technology Corp.; All Weather, Inc.
(AWI); Campbell Scientific, Inc.; Columbia Weather Systems Inc.; Gill Instruments
Limited; Lockheed Martin Corporation; MORCOM International; Munro Instruments
Limited; Skye Instruments Limited; and Vaisala.
Grand View Research has segmented the
global weather forecasting system and solutions market based on forecast range
type, component type, end use, and region:
Weather Forecasting System and Solutions
Forecast Range Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Short-Range Forecast
·
Medium-Range Forecast
·
Long-Range Forecast
Weather Forecasting System and Solutions
Component Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Solutions
·
Systems
Weather Forecasting System and Solutions
End-Use Outlook (Revenue, USD Million, 2014 - 2025)
·
Enterprise
·
Defense & Military
·
Meteorology & Weather Service Provider
Weather Forecasting System and Solutions
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
Japan
·
RoW
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.
