The Weather Forecasting Systems Market is projected to grow from USD 2.7 billion in 2021 to USD 3.5 billion by 2026, at a CAGR of 5.1% in terms of value during the forecasted period. The market exhibits lucrative growth potential during the forecast period primarily due to the increasing demand for weather monitoring systems by end-user industries to align their business activities as per the changes in prevalent weather conditions. The market is also driven by the enhanced need for weather monitoring to support disaster management at a local, regional, and global level.
The key market players are primarily based in North America and Europe. The Weather Company (US), Vaisala OYJ (Finland), DTN (US), AccuWeather Inc. (US), and StormGeo (Norway) are some of the major players of weather forecasting systems market. Major focus was given to the development of new weather forecasting systems due to the evolving requirements of the end-user industries across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the weather forecasting systems market.
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Vaisala develops and markets electronic measuring systems and instruments. The company offers products for various applications that include air quality monitoring & prediction, food technology & agriculture, life sciences, meteorology & hydrology, power industry, renewable energy, and transportation over air, land, and seas. The company provides weather radar systems to customers, such as meteorological institutes, road transport agencies, airports, and defense forces. In October 2021, Vaisala launched the Vaisala AWS810 Automatic Weather Station to help cities across the world maintain their residents safe and secure. The Vaisala AWS810 Automatic Weather Station is a comprehensive measurement, communication, and data monitoring system that makes contemporary observation networks simple to construct, administer, and maintain over time.
THE WEATHER COMPANY
The Weather Company is a leading provider of weather forecasting and information technology. It provides data, technology platforms, and services to the worlds largest businesses in aviation, energy, insurance, media, and government to assist enhance decision-making and adapt to weathers influence on business. The company specializes in providing solutions and services for weather technology, weather data, broadcast technology, agriculture data, energy data, aviation technology, and retail data. In January 2021, The Weather Company announced an extension of its connection with the University Corporation for Atmospheric Research (UCAR) to continue advancements in the field of numerical weather prediction (NWP) by leveraging IBM and UCARs advanced science and technology capabilities, such as improved accuracy and reliability, increased operational efficiency, better forecast targeting of underserved audiences or needs across industries globally, and more.
AccuWeather, Inc provides commercial weather forecasting services worldwide including the national weather channel. In addition, it also delivers a wide range of highly customized enterprise solutions to media, business, government, and institutions, as well as news, and weather content. AccuWeather, Inc. also provides a variety of highly tailored corporate solutions to the media, business, government, and institutions, as well as news, weather information, and video to over 180,000 third-party websites. In July 2021, AccuWeather launched a digital hurricane tracker for both online and app platforms. The innovative hurricane tracking feature displays proprietary AccuWeather Forecast Eye Path maps, impact visualizations, and simply accessible tools to monitor and follow storms for best preparation, protection, and insight.
DTN, formerly known as Data Transmission Network and Dataline, offers real-time information and decision support tools for weather and financial analytics. The company serves various markets, including energy and agriculture, and offers the integration of analysis tools that enable users to make business decisions. In May 2020, DTN launched the AviationSentry Helicopter Edition of their premier weather service in Europe.
StormGeo is a leading provider of data science and weather intelligence and advanced solutions in weather forecasting, serving a worldwide customer base with advanced solutions through its global 24/7 forecasting desks and research and development (R&D) team. The company provides decision support for weather-sensitive operations. It primarily serves the oil & gas, shipping, renewable energy, cross-industry, aviation, and media industries.
Weather Forecasting Systems Market by Vertical (Agriculture, Aviation, Transportation & Logistics, Oil & Gas, Marine, Renewable Energy, Meteorology, Weather Service Providers), Application, Solution, Forecast Type and Region - Forecast to 2026
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