Press release
Precision Weather Monitoring for a Climate-Ready Future
According to The Business Research Company's, The weather monitoring solutions and services market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to natural disaster preparedness, agricultural sector demands, aviation and transportation safety, energy industry requirements, research and scientific exploration ..
The weather monitoring solutions and services market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to climate change mitigation, precision agriculture adoption, smart city initiatives, renewable energy integration, increased frequency of extreme weather events.. Major trends in the forecast period include focus on renewable energy integration, advancements in weather visualization, customized industry-specific solutions, continuous improvement in data quality..
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Market Drivers and Trends:
An increased number of natural disaster incidents is expected to propel the growth of the weather monitoring solutions and services market going forward. Natural disasters refer to occurrences brought on by Earth's natural processes that severely damage the environment and claim lives. Scientists employ multiple tools to extract information related to weather, monitor natural disasters, and use a Gutenberg-Richter diagram to forecast the size and frequency of upcoming disasters. For instance, in March 2023, according to ReliefWeb, a US-based website that offers data on human rights, according to the Emergency Event Database (EM-DAT), there were 387 natural disasters and hazards recorded worldwide in 2022, affecting 185 million people and leaving 30,704 people dead. The projected economic damages were $2233.8 billion. Therefore, an increased number of natural disaster incidents is driving the growth of the weather monitoring solutions and services market.
Technological advancements are the key trend gaining popularity in the weather monitoring solutions and service market. Companies operating in the weather monitoring solutions and service market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Aderis Energy LLC, a US-based full-service utility-scale PV, and solar O&M service provider, launched SunSpector, an edge-based smart weather station. SunSpector is an intelligent weather station that employs edge computing to assist clients in optimizing renewable energy installations. It includes data logging, performance analysis, and energy modeling capabilities for renewable energy management systems. SunSpector has an edge computing platform, servo-controlled plane of array (POA) tracking, and an innovative resource assessment tool. It enables data logging and analytics, as well as energy loss computation, and can corroborate weather modeling assumptions.
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Major Key Players of the Market:
Vaisala Oyj; Campbell Scientific Inc.; Met One Instruments Inc.; International Business Machines Corporation; Earth Networks; AccuWeather Inc.; AnythingWeather Communications Inc.; Intermountain Environmental Inc.; Baron Weather; Climatronics; Columbia Weather Systems Inc.; Nvis Technologies Pvt. Ltd.; Sutron Corporation; RTX Corporation; Morcom International Inc.; Gill Instruments Limited; Hoskin Scientific Limited; Davis Instruments; Meteomatics AG; Airmar Technology Corporation; RainWise Inc.; Sigma Space Corporation; Aanderaa Data Instruments AS; Vanguard Instruments Company; WeatherFlow Inc.; G. Lufft Mess- und Regeltechnik GmbH; Vieux & Associates Inc.; GRAW Radiosondes GmbH; R. M. Young Company; Weather Telematics Inc.; AerisWeather; SkyBitz Inc.; Ventiq Corporation
Weather Monitoring Solutions And Services Market 2024 Key Insights:
• The weather monitoring solutions and services market will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Weather Monitoring Solutions And Services Market Surges In Response To Escalating Natural Disasters
• Aderis Energy Unveils Sunspector, An Edge-Based Smart Weather Station
• Asia-Pacific was the largest region in the weather monitoring solution and services market in 2023
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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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