Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
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% 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. 
Asia-Pacific is estimated to show the 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.
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. Major companies profiled in the report include Vaisala (Finland), DTN (US), AccuWeather, Inc. (US), The Weather Company LLC (US), and StormGeo (Norway) among others.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 277 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $2.2 Billion |
| Forecasted Market Value (USD) by 2029 | $3.1 Billion |
| Compound Annual Growth Rate | 7% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Climate Change Patterns Resulting in Rainfall Uncertainties
- Need for Efficient Disaster Management
- Upsurge in Production of Renewable Energy
- Technological Advancements
- Restraints
- Dynamic Nature of Atmospheric Variables
- Complexity of Weather Forecasting Models
- Opportunities
- Increasing Computing Capabilities of Supercomputers for Weather Forecasting
- Enhanced Accuracy of Long-Range Weather Forecasting
- Incorporation of High-End Radars and Small Satellites into Weather Monitoring
- Increasing Use of Big Data Analytics
- Challenges
- Lack of Effective Automation
- Occurrence of False Weather Alarms
Case Study Analysis
- Use of Picture Recognition to Determine Weather Conditions
- The Weather Company Collaborated with IBM to Design High-Performance Computing System to Deliver Quick Insights
- Numerical Modeling of Severe Storms and Lightning, Impact of Greenhouse Gases on Climate, and Effect of Aerosols on Precipitation and Hurricane Development
- Techcom Srl Used FT742-DM Ultrasonic Wind Sensor for Data Collection and Monitoring
Pricing Analysis
- Indicative Pricing Analysis, by Key Vertical
- Indicative Pricing Analysis, by Region
Ecosystem Analysis
- Prominent Companies
- Private and Small Enterprises
- End-users
Trade Analysis
- Export Scenario of Hydrometers, Aerometers, Barometers, Hygrometers, and Similar Floating Instruments
- Import Scenario of Hydrometers, Aerometers, Barometers, Hygrometers, and Similar Floating Instruments
Technology Analysis
- Key Technologies
- Dual Polarization Radar
- Remote Sensing
- Complementary Technologies
- Numerical Weather Prediction Models
- High-Performance Computing
Business Models
- Direct Sales Model
- Software as a Service (SaaS) Model
- Government Contract Model
- Rental Model
Impact of Generative AI on Weather Forecasting Systems Market
- Use of Generative AI in Weather Forecasting Systems by Top Countries
- Impact of Generative AI on Weather Forecasting Systems: Use Cases
- Impact of Generative AI on Weather Forecasting Systems
Technology Trends
- Supercomputers
- AI-Powered Forecasting Models
- Emergence of Next-Generation Radar Technology
- Quantum Computing and Simulation
- Advanced Communication Networks and 5G
Companies Featured
- Vaisala
- DTN
- AccuWeather, Inc.
- The Weather Company LLC
- StormGeo
- OTT Hydromet
- Campbell Scientific, Inc.
- All Weather, Inc.
- Airmar Technology Corporation
- Morcom International
- Met One Instruments Inc.
- CustomWeather
- Gill Instruments Limited
- UBIMET
- The Tomorrow Companies Inc.
- Understory
- TempoQuest
- Liquid Robotics, Inc.
- Skyview Systems
- Speedwell Climate Limited
- Davis Instruments
- Hoskin Scientific
- Ensco, Inc.
- Weather Routing, Inc.
- Advancetech India Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/p4u9jj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
