The weather forecasting systems market is likely to observe absolute $ opportunity of USD 1513.6 Million between 2017-2024 ~ Research Nester
“Global Weather Forecasting Systems Market: Potential Demand Analysis & Opportunity Assessment 2024”
Climate change plays a significant role in weather forecasting system. It is one of those issues where science is crucial in determining government and international policy-making. The weather forecasts are both incredibly successful and useful to society, which is why they continue to be produced even though they involve considerable expense. Owing to the increasing occurrences of natural disasters and climatic changes around the world, the weather forecasting systems market is predicted to mark USD 5,261.7 Million by the end of 2024 as compared to USD 3,526.1 Million in 2015 by expanding at a CAGR of 5.2% over the forecast period i.e. 2018-2024. Moreover, Asia Pacific is expected to dominate the overall weather forecasting systems market by holding the leading share of 37.4% in terms of revenue by the end of 2024.
The weather forecasting systems market is divided by end-user into media, energy, aviation, marine, agriculture, transportation and defense. Among these segments, the aviation segment is predicted to fortify the expansion of the weather forecasting systems market by reaching USD 566.9 Million in 2024.
Automated Weather Forecasting Systems to Accelerate the Demand for Weather Forecasting Systems
According to a recent market study by Research Nester, a reliable prediction of weather in stipulated time can lead to significant cost savings or even enhance the fight against pollution, natural disasters, and ecological catastrophes.
- ””High Quality Data – The data collected by the radar is of high quality and can be used to establish various aspects of the weather consistently.
- Natural Disasters – The number of natural disasters and heavy rainfall have increased the use of many applications and equipment in the weather forecasting sector.
- Government Initiatives – The governments of various countries and private agencies have been increasingly investing in the development of advanced and efficient weather forecasting systems to provide alerts for storms or cyclones beforehand to ensure public safety.
- Automated Weather Forecasting Systems – The automated weather forecasting systems are gaining popularity among various end-use industries on the back of their compact assemblies and results accuracy owing to their sensors that detect various climatic and weather changes.””
Additionally, the companies are actively engaged in launch of new products to gain competitive edge over other players. For instance, in February 2017, Vaisala – a global leader in environmental and industrial measurement, announced the launch of Ground-Based Solar Measurement Solution which is projected to enhance the company’s brand reputation in upcoming years.
Global Players’ Expertise to Lessen the Obstacles in Weather Forecasting Systems
Despite the technological advancements, Research Nester focuses on the barriers that might inhibit the growth of the global weather forecasting systems market in the near future.
- ””High Equipment Cost – The complexities of weather forecasting procedures, the overall equipment cost and the computers that need to perform the millions of calculations necessary for climate change are very expensive.
- Limited Data Consistencies – There are limited data consistencies between different tools measuring the same thing.
- Lack of Skilled Workforce – Weather forecasting models such as weather event model (snowstorm, hurricanes), short & long-term forecasting model, and high accuracy models require meteorologists with superior interpretation skills and experience.””
The report titled “Global Weather Forecasting Systems Market Analysis & Opportunity Outlook 2024” delivers detailed overview of the global weather forecasting systems market in terms of market segmentation by offering, by forecast, by transmission, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global weather forecasting systems market which includes company profiling of Sutron Corporation, Campbell Scientific Inc., Vaisala, Columbia Weather Systems, Lockheed Martin Corporation and Liquid Robotics Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global weather forecasting systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.