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Global Weather Forecasting System Market Analysis & Opportunity Outlook 2021

Published On : 05:59 AM, 24th April, 2018 REP-ID-113 Category: ICT & Electronics

Natural calamities such as storms, cloud bursts, etc., have always been a major concern in-front of the world. Weather forecasting is a tool which helps to foresee the environmental and atmospheric conditions of a particular region.

The global weather forecasting system market is envisioned to escalate from USD 1.5 Billion in 2015 to reach USD 2.2 Billion in 2021, registering a compound annual growth rate (CAGR) of 7.0%. Geographically, the eather forecasting market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World.

Market Segmentation

  • By End Users

The global weather forecasting system market is segmented based on end users into agriculture, aviation, marine, energy, military and transportation.

  • By Component

On the basis of components, the global weather forecasting system market is divided into data software, hardware, data loggers and sensors.

  • By Equipment

Based on equipment, the global weather forecasting systems market is segmented into anemometer, hygrometer, barometer, sling psychrometer, thermometer, rain gauge and weather balloons.

  •  By System Type

Based on system type, the global weather forecasting system market is segmented into weather radar, weather satellite systems, sounding systems, weather station and radiosondes.

  • By Forecast Type

Global weather forecasting system market is segmented on the basis of forecast type into normal range, short range, medium range and long range.

Growth Drivers and Challenges

Expansion of the global weather forecasting system market is expected to get sparked from some of the major factors including increase in travel via air and sea, growing safety concerns, and unpredictability in rainfall.

In addition to that, strengthening economy of some of the developing economies is also anticipated to augment the growth of global weather forecasting system market in future.

However, higher equipment cost along with complexity of weather forecasting procedures is likely to dampen the growth of global weather forecasting system market over the forecast period i.e. 2015-2021.

Market Size and Forecast

At present, North America holds the top rank in global weather forecasting systems market followed by Europe.

Asia-Pacific weather forecasting system market is anticipated to witness the highest compound annual growth rate (CAGR) of 7.5% over the forecast period i.e. 2015-2021. The market in the region is likely to thrive from rapid growth in transportation in some of the major countries such as India and China. In addition to that, dependency on rainfall for an agrarian economy i.e. India is also believed to soar the demand of an efficient weather forecasting system in Asia-Pacific region in coming 4-5 years.  

 Key Players

Global weather forecasting system market is very competitive and includes some of the top players such as Campbell Scientific, Inc., Vaisala Oyj, Airmar Technology Corporation, Columbia Weather Systems, Morcom International, Inc., All Weather, Inc., Inc., Thales S.A., etc.

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe)
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
  • Rest of World

Segmentation

  • By End Users
  • By Component
  • By Equipment
  • By System Type
  • By Forecast Type
  • By Geography

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

                               Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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