The global Weather Forecasting System and Solutions market size is expected to value at USD 4.63 billion by 2025, during the forecast period. The market is subject to witness a substantial growth due to the critical demand for disaster management systems and weather monitoring systems, and rise in rainfall uncertainties is significantly impacting agriculture growth. The key factors propelling the growth of the weather forecasting system and solutions market in recent years, are rise in the demand for high precision weather models and increase in the use of transportation services via sea & air. Also, the growing preference towards weather forecasting system to avoid natural disasters mainly in emerging economies in across the globe is a driving factor for weather forecasting systems market. Globally, the weather forecasting system and solutions market is predicted to grow at CAGR of 7.1% in forecast period providing numerous opportunity for market players to invest for research and development in the weather forecasting solutions industry.
Furthermore, the weather forecasting systems allow organizations to improve importing and exporting of goods and their distribution, storage, and shipping processes. Application of the weather forecast systems varies according to the different industry verticals such as food delivery sector, agriculture sector, transport sector, and environmental sciences. The impact of undesired weather condition is decisive for consistent agriculture production, for instance, heavy rains are responsible for damage of crop, whereas decline in rainfall reduces overall agriculture production. Such critical factors are stimulating the growth of weather forecasting solutions market. Significant initiatives undertaken by regional governments to avoid natural disasters such as tornados, tsunamis and landslides are the key factors fueling growth of the weather forecasting system market. Subsequently, weather forecast systems are adopted to curb air pollution by measuring air quality, which is also driving the growth of the market in recent years.
The weather forecast systems measures the content of carbon dioxide and other greenhouse gases to determine the quality of the air. Yet, complex design associated with the weather forecast models is restricting growth of the weather forecasting system & solutions market. Low accuracy in weather prediction systems and models leading to market deception for customers is likely to hinder the market growth.
Weather forecasting allows use of science and technology to forecast environmental conditions based on the location and time period. Weather forecasts are carried out by clustering large sets of quantitative data pertaining to environmental scenarios and analyzing in real time to monitor changes in the weathercasting at specific time and location. The applications of weather forecast models vary such as forest monitoring, agriculture, air traffic management, marine application, utility companies and military applications. Weather forecasting is vital at present to protect against natural disasters.
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Weathercasting based on the temperature and rainfall are crucial to monitor agricultural yield. The commercial application of the weather forecast system is also on the rise for transportation and utility sector. The weather forecast can also be integrated in public services to determine probability of rain, for users. The application of the weather forecasting further extends to the commercial organization as well, mainly adopted to avoid abundant losses.
The weather forecasting system and solutions market is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise adoption of latest technologies for accurate prediction of weather forecast and presence of well-established industry players. Asia-Pacific region is predicted to hold major market share in the weather forecasting system industry with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with recent enhancement in data analytics, rise in the adoption of supercomputers to deliver higher computing capabilities and substantial investment by numerous market player due to potential opportunities in the region results in a higher CAGR during the forecast period.
The key players in the weather forecasting systems and solutions industry are Airmar Technology Co., All Weather Incorporations, Campbell Scientific Incorporations, Columbia Weather Systems Incorporations, Gill Instruments Ltd., and Lockheed Martin Co.
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