Global Weather Forecasting Systems Market Size, by Solution (Hardware, Software), by Application, by Vertical, by Forecast Type (Nowcast, Short-range, Medium-range, Extended-range, Long-range), and Regional Forecasts 2022-2032

Description

The Global Weather Forecasting Systems Market was valued at approximately USD 2.06 billion in 2023 and is projected to grow with a robust compound annual growth rate (CAGR) of 7.0% over the forecast period 2024-2032. The need for precise and reliable weather predictions has become increasingly critical across numerous industries, including aviation, agriculture, renewable energy, and military applications. The escalating demand for advanced forecasting technologies is propelled by rising environmental concerns, growing reliance on renewable energy, and the increasing frequency of extreme weather events.

Governments worldwide have been actively promoting renewable energy initiatives, with substantial investments driving the demand for accurate weather forecasting systems. For instance, as part of India's renewable energy initiatives, investments exceeding USD 42 billion have been allocated since 2014 to strengthen energy infrastructure. Weather forecasting systems play a pivotal role in optimizing energy production by providing essential data for scheduling operations, thus enhancing efficiency and reducing risks associated with climate volatility.

Furthermore, the integration of big data analytics, machine learning, and high-performance computing into weather forecasting systems is revolutionizing the field, enabling more accurate and timely predictions. However, challenges such as the complexity of climate models and the occasional inaccuracies of predictions hinder market growth. Nevertheless, ongoing advancements in sensor technologies and predictive analytics are anticipated to alleviate these constraints over the forecast period.

Regionally, North America holds the largest market share due to the presence of major market players and advanced technological infrastructure. Meanwhile, Asia Pacific is expected to experience the highest growth, driven by stringent regulatory standards, increased investments in renewable energy, and the growing adoption of weather forecasting solutions in emerging economies like China and India.

Major market players included in this report are:

Vaisala
AccuWeather, Inc.
IBM Corporation
Lockheed Martin Corporation
Honeywell International, Inc.
Raytheon Company
Campbell Scientific, Inc.
Gill Instruments Limited
Met One Instruments Inc.
Airmar Technology Corp.
Columbia Weather Systems Inc.
Munro Instruments Limited
Skye Instruments Limited
All Weather, Inc. (AWI)
Sutron

The detailed segments and sub-segment of the market are explained below:

By Solution

Hardware
- Barometers
- Anemometers
- Hygrometers
- Rain Gauges
- Thermometers
- Communication & Data Loggers
- Sounding Systems & Radiosondes
- Others
Software
- Data Collection & Processing Software
- Weather Monitoring & Display Software
- Supercomputing
- Big Data Analytics
- Others

By Application

Weather Satellites
Weather Observing Systems
Weather Stations
Weather Drones
Weather Balloons
Weather LiDAR
Weather Radar
Others

By Forecast Type

Nowcast
Short-range
Medium-range
Extended-range
Long-range

By Vertical

Agriculture
Aviation
Renewable Energy
Marine
Oil & Gas
Transport & Logistics
Military
Meteorology
Weather Service Providers
Others

By Region

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Weather Forecasting Systems Market Executive Summary

1.1. Global Weather Forecasting Systems Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Solution
- 1.3.2. By Application
- 1.3.3. By Vertical
- 1.3.4. By Forecast Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Weather Forecasting Systems Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Weather Forecasting Systems Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising adoption of renewable energy solutions
- 3.1.2. Growing demand for disaster preparedness systems
- 3.1.3. Advancements in sensor technologies and big data analytics
3.2. Market Challenges
- 3.2.1. Complexity in climate modeling
- 3.2.2. Risk of inaccurate forecasts
3.3. Market Opportunities
- 3.3.1. Increased investments in renewable energy infrastructure
- 3.3.2. Technological advancements in supercomputing and weather analytics

Chapter 4. Global Weather Forecasting Systems Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Weather Forecasting Systems Market Size & Forecasts by Solution (2022-2032)

5.1. Hardware
- 5.1.1. Barometers
- 5.1.2. Anemometers
- 5.1.3. Hygrometers
- 5.1.4. Rain Gauges
- 5.1.5. Thermometers
- 5.1.6. Communication & Data Loggers
- 5.1.7. Sounding Systems & Radiosondes
- 5.1.8. Others
5.2. Software
- 5.2.1. Data Collection & Processing Software
- 5.2.2. Weather Monitoring & Display Software
- 5.2.3. Supercomputing
- 5.2.4. Big Data Analytics
- 5.2.5. Others

Chapter 6. Global Weather Forecasting Systems Market Size & Forecasts by Application (2022-2032)

6.1. Weather Satellites
6.2. Weather Observing Systems
6.3. Weather Stations
6.4. Weather Drones
6.5. Weather Balloons
6.6. Weather LiDAR
6.7. Weather Radar
6.8. Others

Chapter 7. Global Weather Forecasting Systems Market Size & Forecasts by Vertical (2022-2032)

7.1. Agriculture
7.2. Aviation
7.3. Renewable Energy
7.4. Marine
7.5. Oil & Gas
7.6. Transport & Logistics
7.7. Military
7.8. Meteorology
7.9. Weather Service Providers
7.10. Others

Chapter 8. Global Weather Forecasting Systems Market Size & Forecasts by Forecast Type (2022-2032)

8.1. Nowcast
8.2. Short-range
8.3. Medium-range
8.4. Extended-range
8.5. Long-range

Chapter 9. Global Weather Forecasting Systems Market Size & Forecasts by Region (2022-2032)

9.1. North America
- 9.1.1. U.S.
  - 9.1.1.1. Solution breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Application breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Vertical breakdown size & forecasts, 2022-2032
- 9.1.2. Canada
9.2. Europe
- 9.2.1. U.K.
- 9.2.2. Germany
- 9.2.3. France
- 9.2.4. Spain
- 9.2.5. Italy
- 9.2.6. Rest of Europe
9.3. Asia Pacific
- 9.3.1. China
- 9.3.2. India
- 9.3.3. Japan
- 9.3.4. Australia
- 9.3.5. South Korea
- 9.3.6. Rest of Asia Pacific
9.4. Latin America
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Argentina
- 9.4.4. Rest of Latin America
9.5. Middle East & Africa
- 9.5.1. Saudi Arabia
- 9.5.2. UAE
- 9.5.3. Israel
- 9.5.4. South Africa
- 9.5.5. Rest of Middle East & Africa

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. Vaisala
- 10.1.2. AccuWeather, Inc.
- 10.1.3. IBM Corporation
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. Vaisala
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financials (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. AccuWeather, Inc.
- 10.3.3. IBM Corporation

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes