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Weather Forecasting Systems Global Market is Projected to Experience a Growth Rate of 4.4% CAGR, reaching over $3.14 Billion By 2028 | All Weather Co., Fugro Inc., Spire Global Inc., Earth Networks Inc., DTN Inc.

Weather Forecasting Systems Global Market

Weather Forecasting Systems Global Market

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Weather Forecasting Systems Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.14 billion In 2028 At A CAGR Of 4.4% :

The weather forecasting systems market size has grown steadily in recent years. It will grow from $2.52 billion in 2023 to $2.64 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to growth in climate research and monitoring, natural disaster preparedness, agriculture and crop management, air and sea transportation, climate change impact..

The weather forecasting systems market size is expected to see steady growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to renewable energy integration, increasing smart agriculture, extreme weather events, environmental conservation, space exploration and astronomy. Major trends in the forecast period include high-resolution weather modeling, ai and machine learning integration, weather data visualization, weather app integration, space-based weather monitoring..

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Weather Forecasting Systems Market Major Segments
The weather forecasting systems market covered in this report is segmented -
1) By Type: Short-Range, Medium-Range, Long-Range
2) By Component: Data Loggers, Software, Sensors And Hardware
3) By Equipment: Barometer, Anemometer, Hygrometer, Rain Gauge, Thermometer, Sling Psychrometer, Weather Balloons
4) By End User: Aviation, Military, Energy, Agriculture, Marine, Transportation

Key Driver - Renewable Energy Adoption Boosts Weather Forecasting Systems Market

The increasing adoption of renewable energy sources is significantly driving the growth of the weather forecasting systems market. Renewable energy generation, particularly wind and solar power, is volatile due to its reliance on weather, necessitating the use of proper forecasting systems to avoid downtime and improve efficiency. For instance, in December 2021, according to International Energy Agency, a France-based intergovernmental agency, global renewable electricity capacity is projected to increase by over 60% from 2020 to reach 4,800 GW by 2026, surpassing fossil fuels and nuclear power combined. Nearly 95% of the global power capacity growth by 2026 will come from renewables, with solar PV accounting for more than half, marking a 50% increase compared to 2015-2020. As a result, the growing use of renewable energy sources is expected to drive the growth of the weather forecasting systems market in the coming years.

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Prominent Trend - Rising Adoption Of Sophisticated Weather Monitoring Systems To Drive Market Growth

The adoption of sophisticated weather monitoring systems is a key trend gaining popularity in the market. Major companies operating in the weather forecasting systems sector are focused on developing sophisticated weather monitoring systems to strengthen their position. For instance, in October 2021, Finland-based environmental and industrial measurement company Vaisala introduced the AWS810 Automatic Weather Station, which integrates several analogue and digital sensors, offering a range of configuration and connectivity options. The new system has robust data security mechanisms built into the hardware and software to protect against security threats and unauthorised access and ease of remote maintenance to enable efficient management of large networks. The AWS810 enables users to access real-time synoptic observation and monitoring of weather-critical events as well as continuous, traceable climatological data for a number of agency, government, and research purposes.

Weather Forecasting Systems Market Players
Major companies operating in the weather forecasting systems market include The Weather Company, Sutron Corporation, Campbell Scientific Inc., Airmar Technology Corporation, All Weather Co., Morcom International, Columbia Weather Systems, G. Lufft Mess-und Regeltechnik, Vaisala Oyj, Skye Instruments Ltd., AccuWeather Inc., StormGeo AS, Lockheed Martin Corporation, Liquid Robotics Inc., Spire Global Inc., Earth Networks Inc., Skymet Weather Services, DTN Inc., Honeywell International Inc., International Business Machines Corporation, MeteoGroup, Raytheon Company, Tomorrow.io, OTT HydroMet Ltd., Athenium Analytics, WeatherOps, Fugro Inc., The Weather Network, Met Office, WeatherBug Org., Weatherzone Org., WeatherBell Analytics Org., Meteoblue AG, Meteo-France SA

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Largest And Fastest Growing Region In The Market
North America was the largest region in the weather forecasting systems market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the weather forecasting systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Weather Forecasting Systems Market Report Structure
3. Weather Forecasting Systems Market Trends And Strategies
4. Weather Forecasting Systems Market - Macro Economic Scenario
5. Weather Forecasting Systems Market Size And Growth
…..
27. Weather Forecasting Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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