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
Weather Forecasting Systems Market Size and Growth
[276 Pages Report] The Weather Forecasting Systems Market is projected to grow from USD 2.2 billion in 2024 to reach USD 3.1 billion by 2029, at a CAGR of 7.0%. By volume, the market is projected to grow from 189,554 (units) in 2024 to 285,961 (units) by 2029. This growth can be attributed to the rising need for weather monitoring and forecasting systems to support local, regional, and global disaster management.
There has been a rise in the development of weather satellites in the past 4-5 years for enhanced and accurate global weather forecasting. The launch of these satellites is further driven by technological advancements, increasing investments, and government support. Besides, the growing need for precise weather predictions due to the rising demand for advanced weather systems in the agricultural, aviation, renewable energy, and public safety sectors has also helped this development. Continuous innovation in sensor technology, data analytics, and computational power significantly enhances the accuracy and efficiency of weather forecasting systems. All these factors are expected to drive the growth of the Weather Forecasting Systems Industry.
Weather Forecasting Systems Market Forecast to 2029
To know about the assumptions considered for the study, Request for Free Sample Report
Weather Forecasting Systems Market Trends
Driver: Need for continuous weather monitoring to enable disaster management
Disaster management depends on the availability of monitoring services to get up-to-date data on shifting weather patterns. The death toll and property damage from natural disasters, including floods, wildfires, hurricanes, and tsunamis, are considerably decreased with the help of weather forecasting and early warning systems.
Continuous weather monitoring is prominent for effective disaster management. It allows consistent tracking of weather conditions and enables early detection of potential hazards, such as hurricanes, tornadoes, and floods. With the integration of weather forecasting systems with other systems like emergency communications and Geographic Information Systems (GIS), continuous weather monitoring becomes a prominent component of a comprehensive disaster management framework. This approach enhances the overall effectiveness of disaster preparedness and response. It facilitates timely warnings to communities by efficiently implementing necessary precautions and evacuation procedures.
Restraint: Dynamic nature of atmospheric variables
The dynamic nature of atmospheric variables presents a significant market restraint for weather forecasting systems. Most atmospheric phenomena studied in weather forecasting processes are non-linear and highly dependent on the initial weather conditions of specific areas. Although several phenomena can be predicted based on a thorough understanding of the initial conditions of a numerical weather forecasting model, weather conditions are dynamic and vary due to changes in several atmospheric variables. This variability can lead to inconsistent and inaccurate weather forecasts, undermining trust in forecasting technologies and services. Additionally, continuously updating and refining forecasting models to keep pace with the changing environment requires substantial ongoing investments in research and development. This makes the process of weather forecasting highly complex, in addition to the intrinsic non-linearity of weather data collected by various weather forecasting systems, such as weather stations, weather observing systems, and weather radars. Proper integration and analysis of a large amount of weather data make these processes complex. This is expected to restrain the growth of the weather forecasting systems market.
Opportunity: Increasing computing capability of supercomputers for weather forecasting
Facilities for weather forecasting are complex and consume a lot of energy. An exponential increase has been observed in environment observation data in recent years, which is a part of big data. As a result, weather forecasting centers are anticipated to offer integrated solutions that fulfill weather forecasters’ computational needs while facilitating data storage and transfer and allowing for the ownership of all associated costs.
The increasing computing capabilities of supercomputers offer a significant opportunity for weather forecasting systems. Supercomputers can process vast datasets and complex simulations at unprecedented speeds, which allows for more accurate and timely weather predictions. This capability enables meteorologists to run detailed models that account for more variables and fine geographic details, resulting in enhanced forecast precision. Advanced computing can conduct multiple simulations quickly, which helps explore various scenarios and improve the understanding of weather phenomena. This advancement boosts the efficiency of operational forecasting and enhances research into climate patterns and severe weather events, providing valuable insights for future preparedness.
Challenge: Occurrence of false weather alarms
A high false alarm ratio (FAR) or a high frequency of false alarms may hinder the market expansion of weather forecasting systems. A false alarm occurs when an incorrect warning for a natural disaster is triggered, causing people to resort to appropriate safety measures. It is observed that 3 out of 4 alarms are false. This often leads to complacency, as individuals and communities might ignore crucial warnings about genuine threats. Additionally, frequent false alarms can strain resources, as emergency services mobilize unnecessarily, diverting efforts from other critical areas. Improving the accuracy of predictions through enhanced models and technology is vital to minimize these incidents and ensure warnings are reliable, ultimately safeguarding lives and property.
Market Ecosystem
Companies that design and manufacture weather forecasting system solutions include government firms and industries as key stakeholders in the weather forecasting systems market. The major influencers in this market are investors, funders, academic researchers, integrators, service providers, and licensing authorities. The Weather Company LLC (US), Vaisala (Finland), Accuweather, Inc. (US), DTN (US), and StormGeo (Norway) are leading players in the weather forecasting systems market.
Weather Forecasting Systems Market Segments
Based on application, the weather satellites segment is expected to account for the largest market share during the forecast period.
The weather satellites segment is expected to account for the largest market share during the forecast period. The market growth for this segment is attributed to their extensive coverage and accurate predictions. Weather satellites provide comprehensive data on weather patterns and real-time data covering vast and remote areas of the Earth, which is essential for accurate global weather monitoring and forecasting. The growing demand for weather satellites to continuously track atmospheric changes, storm developments, and other meteorological phenomena from space drives the segment’s market growth.
Based on forecast type, the short-range forecasting segment is anticipated to dominate the market.
Based on forecast type, the short-range segment accounts for the largest market share. The segment’s growth is primarily driven by its direct utility in everyday operations and emergency management, where rapid and accurate weather information is essential to make quick decisions. The rising need for rapid and reliable weather information to support day-to-day activities and emergency preparedness, which is crucial in numerous industries such as transportation, agriculture, and event planning, drives the market growth of short-range forecasting.
Weather Forecasting Systems Market Regional Analysis
The European market is projected to account for the largest market share in the weather forecasting systems market.
Weather Forecasting Systems Market by Region
To know about the assumptions considered for the study, download the pdf brochure
Europe is projected to account for the largest share of the weather forecasting systems market during the forecast period. Italy is projected to witness the highest growth in Europe’s weather forecasting systems market. The growth of the market in the region is due to the increased investments in the renewable energy sector, which requires accurate weather forecasts to optimize energy sources. Due to diverse climates and frequent extreme weather, there is also a growing demand for advanced weather forecasting system conditions in the region to ensure public safety and economic stability. These factors are driving the market growth in Europe.
Weather Forecasting Systems Market Companies: Key Market Players
These are some of the leading players that dominate the Weather Forecasting Systems Companies. These players have adopted various strategies, such as partnerships and contracts, to enhance their customer base and increase reach. Major focus was given to contracts, partnerships, and product developments. All these developments have helped these players boost their market share.
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
|
Report Metric |
Details |
|
Estimated Market Size |
USD 2.2 billion in 2024 |
|
Projected Market Size |
USD 3.1 billion by 2029 |
|
Weather Forecasting Systems Market Growth Rate (CAGR) |
7.0% |
|
Market size available for years |
2021–2029 |
|
Base year considered |
2023 |
|
Forecast period |
2024–2029 |
|
Forecast units |
Value (USD Million) |
|
Segments covered |
By Solution, By Application, By Vertical, By Forecast Type, By Purpose, By Region |
|
Geographies covered |
North America, Europe, Asia Pacific, Middle East, Africa, Latin America |
|
Companies covered |
The Weather Company (US), Vaisala (Finland), DTN (US), AccuWeather Inc. (US), and StormGeo (Norway) |
Weather Forecasting Systems Market
Highlights
The study categorizes the weather forecasting systems market based on solution, application, vertical, forecast type, purpose, and region.
|
Segment |
Subsegment |
|
By Solution |
|
|
By Application |
|
|
By Vertical |
|
|
By Forecast Type |
|
|
By Purpose |
|
|
By Region |
|
Recent Developments
- In May 2024, Vaisala announced a contract to deliver a new weather radar system to the Spanish State Meteorological Agency (AEMET), an organization under the Ministry of Environment of the country (MITECO). The contract included 18 dual-polarization C-band weather radars (WRM200), which would be installed by the end of 2026.
- In April 2024, AccuWeather announced a partnership with Ambient Weather to offer superior real-time hyperlocal weather data and private weather station networks for local TV stations.
- In February 2024, The Weather Company collaborated with The International Air Transport Association (IATA) to integrate the Turbulence Aware data to enable participating airlines to directly access Eddy Dissipation Rate (EDR) turbulence data through its Fusion™ and Pilotbrief® tools.
Frequently Asked Questions (FAQs) Addressed in the Report:
Which are the major companies in the weather forecasting systems market? Please mention the major strategies they adopted to strengthen their market presence?
The Weather Company LLC (US), Vaisala (Finland), DTN (US), AccuWeather, Inc. (US), and StormGeo (Norway) are some of the leading players in the weather forecasting systems market. Key strategies adopted by these players in the last few years include contracts and partnerships.
Which factors are propelling the weather forecasting systems industry, and what are the opportunities prevailing in the weather forecasting systems market?
The climate change patterns resulting in uncertainties related to rainfall, the need for continuous weather monitoring to enable disaster management, and technological advancements are a few drivers of the weather forecasting systems market.
Expanding supercomputers computational capacity for weather forecasting, improving the accuracy of long-range weather forecasting, incorporating high-end radar and small satellites into weather monitoring, and increasing the use of big data analytics are some opportunities identified for the weather forecasting systems market.
Which region is estimated to account for the largest share in 2024?
Europe is estimated to account for the largest share in 2024. This growth can be attributed to the robust demand in the region for weather forecasting systems and the presence of various key players.
What is the projected CAGR for the weather forecasting systems market?
Which weather forecasting systems market segment is expected to achieve the highest CAGR?
The renewable energy segment, by vertical, is expected to achieve the highest growth rate during the forecast period.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
This research study on the weather forecasting systems market involved extensive use of secondary sources, directories, and databases such as Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information relevant to the market. The primary sources considered included industry experts as well as manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews with various primary respondents, including key industry participants, subject matter experts (SMEs), industry consultants, and C-level executives, were conducted to obtain and verify critical qualitative and quantitative information pertaining to the weather forecasting systems market as well as assess its growth prospects.
Secondary Research
The market ranking of companies was determined using the secondary data made available through paid and unpaid sources and by analyzing the product portfolios of major companies. These companies were rated based on performance and quality of their products. These data points were further validated by primary sources.
Secondary sources referred to for this research study include financial statements of companies offering weather forecasting systems and services and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the weather forecasting systems market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after acquiring information regarding the weather forecasting systems market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the size of the weather forecasting systems market. The bottom-up approach was employed to arrive at the overall size of the weather forecasting systems market by estimating the volume of weather forecasting sytems sold in each region, calculating price by different weather forecasting systems and arriving the global market size. In the top-down approach, all the key manufacturers of weather forecasting systems and software solution providers were identified, and their revenue mapped for the base year. To calculate the overall market size, the segmental revenue of weather forecasting systems and solution providers was added for the base year, 2023.
Weather Forecasting Systems Market Size: Top-Down Approach
Weather Forecasting Systems Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall size of the weather forecasting systems market from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various segments and sub-segments of the market. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using both top-down and bottom-up approaches.
Market Definition
Weather forecasting systems (WFS) or weather prediction systems are designed to carry out atmospheric research and operational weather forecasting by obtaining quantitative data about the current state of the atmosphere, land, and oceans, and then using meteorology to project how the atmosphere will change at a certain location.
Weather forecasting systems assist businesses in precisely assessing weather conditions and planning weather-sensitive operations to safeguard safety. The use of weather forecasting systems also plays a vital role in reducing maintenance and operational expenses.
Market Stakeholders
- Weather Forecasting Equipment Manufacturers
- Weather Forecasting Equipment Suppliers
- Weather Satellite & Radar Manufacturers
- Weather Forecasting Equipment Integrators
- Weather Forecasting Equipment Service Providers
- Government and Civil Organizations
- Satellite Operators
- Research Organizations, Forums, Alliances, and Associations
- Meteorological Departments
- Academic Researchers
- OEMs
- R&D Companies
- Maintenance Providers
- Providers of Support Solutions
- Technology Vendors
- Software Developers
- End Users
Report Objectives
- To define, describe, segment, and forecast the size of the weather forecasting systems market based on vertical, solution, forecasting type, application, purpose, and region
- To forecast the size of market segments with respect to the following regions, namely North America, Europe, Asia Pacific, Middle East, Africa, and Latin America, along with key countries in each region
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
- To identify technology trends currently prevailing in the weather forecasting systems market
- To analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders by identifying key market trends
- To profile key market players and comprehensively analyze their market share and core competencies2
- To analyze the degree of competition in the market by identifying key growth strategies, such as product/service launches, partnerships, and expansions, adopted by leading market players
- To identify detailed financial positions, key products, and unique selling points of leading companies in the market
- To provide a detailed competitive landscape of the weather forecasting systems market, along with a market share analysis, and revenue analysis of key players
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the Weather Forecasting Systems Market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Weather Forecast Systems Market
Generating Response ...
Growth opportunities and latent adjacency in Weather Forecasting Systems Market
I want to know about the best practices in the weather forecasting industry; what methods, what models, and what satellites foreign countries are using and what India is lacking.
We're evaluating future market segments, including space-based weather data solutions and systems and the end user market.
Need basic market research framework of the weather forecasting systems and solutions market for analysis.
What is the basic infrastructure requirement for setting up a Weather Service Company?How do Companies in provisioning Weather Services Generate Revenue?