Market Overview:
Weather forecasting systems market size is projected to be valued at USD 3.87 Billion by 2030, registering a CAGR of 5.47% from 2020 to 2030.
The market for weather forecasting systems has grown dramatically as a result of the world's rapid global warming. Weather forecasting system suppliers now put a strong emphasis on innovation as a result of the market's high level of competitiveness. Additionally, it is anticipated that rising corporate mergers and acquisitions will promote market expansion during the study period.
For example, in September 2019, DTN acquired Weather zone, a private weather service provider based in Australia. This acquisition enabled the company to strengthen its presence in the global Weather Forecasting Systems Market Size.
Given the growing demand for sophisticated lighting technologies for weather prediction applications, is expected to weather forecasting systems market development impressively and experience two-digit growth throughout the forecast period.
However, issues related to inaccuracy and false weather alarms could restrict the growth of the global market.
Market USP:
The demand for weather forecasting systems is anticipated to rise along with the demand for accurate numerical weather prediction and rising safety and security concerns.
Key Players:
Honeywell International Inc (US), Vaisala (Finland), IBM Corporation (US), AccuWeather Inc. (US), Metagroup (UK), Raytheon Company (US), Sutron (US), Campbell Scientific Inc (US), Airmar Technology Corp (US), MORCOM INTERNATIONAL INC (US), Met One Instruments Inc (US)
Market Segmentation:
Software segment to register the higher growth rate: During the forecast period, 2020 to 2028, the software segment is anticipated to post the highest CAGR. Software's advantages, including its simplicity in use, accuracy, and low ownership costs, are what are causing the market to expand.
The long-range segment is expected to be the fastest growing: The segment with the highest CAGR during the forecast period, 2020 to 2028, is anticipated to be long-range. The segment is anticipated to grow as a result of rising demand for weather forecasting services from sectors like agriculture, renewable energy, and aviation.
Whether the drones segment expected to register the highest CAGR: The market for weather drones is anticipated to develop at the fastest rate over the projected period. The growing use of drones for industrial and commercial purposes is anticipated to fuel the segment's expansion. Additionally, the increasing number of product launches by businesses like Earth Networks is also likely to contribute to the segment's growth.
The meteorology segment dominated the market in 2019: The meteorology segment dominated the market in 2019, owing to the rapidly growing global aviation industry. Furthermore, the growing demand for accurate weather information is also expected to drive the growth of the segment.
Regional Analysis:
Weather Forecasting Systems Market Size Outlook is partitioned into Asia-Pacific, North America, Europe, Middle East, and Africa, and Latin America.
Weather forecasting systems market statistics Outlook is partitioned into Asia-Pacific, North America, Europe, Middle East, and Africa, and Latin America.
Creating financial matters and modernization of Weather forecast frameworks, acquisition of Weather forecast planes and sends, and the locale quick changes in guidelines to make protection more progress on the innovation front and headway in the guard advancements identified with land, marine, and flying corps regarding pay can bring about further developed market entrance in the Weather forecast lighting market.
Advancements in the Asia Pacific aeronautics, ground, and marine, are prompting the reception of cutting-edge airplane Weather forecast Lighting frameworks, which is a consequence of modernization in the Weather forecast Lighting Market.
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