Weather Forecasting Systems Global Market Report 2024

Weather forecasting systems integrate technology and science to predict the atmospheric conditions for a specific time and location in the future. The development of weather forecasts involves collecting extensive information about current atmospheric conditions, including humidity, temperature, and wind. This information is then analyzed using meteorological knowledge to predict how the atmosphere will evolve.

Weather forecasting systems come in various types, including short-range, medium-range, and long-range. Short-range systems are employed for forecasting over a brief period, typically ranging from 1 day to seven days. Components of these systems encompass data loggers, software, sensors, and hardware. Various equipment is utilized in weather forecasting, such as barometers, anemometers, hygrometers, rain gauges, thermometers, sling psychrometers, and weather balloons. These forecasting systems cater to diverse end-users, including aviation, military, energy, agriculture, marine, and transportation.

The weather forecasting systems market research report is one of a series of new reports that provides weather forecasting systems market statistics, including global market size, regional shares, competitors with a weather forecasting systems market share, detailed weather forecasting systems market segments, market trends and opportunities, and any further data you may need to thrive in the weather forecasting systems industry. This weather forecasting systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 observed in the historical period can be attributed to the expansion of climate research and monitoring initiatives, increased focus on natural disaster preparedness, advancements in agriculture and crop management practices, improvements in air and sea transportation, and heightened awareness of the impact of climate change.

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 anticipated growth in the forecast period can be attributed to the integration of renewable energy, the rise in smart agriculture practices, the impact of extreme weather events, a growing emphasis on environmental conservation, and increased activity in space exploration and astronomy. Notable trends expected in this period encompass the development of high-resolution weather modeling, the integration of artificial intelligence and machine learning, advancements in weather data visualization, the incorporation of weather apps, and the utilization of space-based monitoring for weather.

The growth of the weather forecasting systems market is significantly fueled by the increasing adoption of renewable energy sources. The volatility in renewable energy generation, particularly from wind and solar power, due to its dependence on weather conditions, highlights the importance of reliable forecasting systems to enhance efficiency and prevent downtime. In December 2021, the International Energy Agency projected a substantial 60% increase in global renewable electricity capacity from 2020 to 2026, reaching 4,800 GW and surpassing the combined capacity of fossil fuels and nuclear power. With renewables accounting for 95% of global power capacity growth, particularly solar PV, the surge in renewable energy usage is poised to propel the weather forecasting systems market's growth.

The weather forecasting systems market is expected to experience growth due to the rising incidents of natural disasters. Catastrophic events resulting from natural processes, such as earthquakes, hurricanes, floods, and wildfires, necessitate advanced forecasting for early warnings, preparedness, and disaster management. The impact of climate change and the imperative to safeguard infrastructure contribute to the demand for accurate weather forecasts. In 2021, a total of 432 catastrophic events linked to natural hazards were documented, causing fatalities, affecting millions of individuals, and incurring substantial economic losses, emphasizing the critical role of weather forecasting systems in addressing these challenges.

A key trend gaining popularity in the weather forecasting systems market is the adoption of sophisticated weather monitoring systems. Major companies in this sector are focused on developing advanced monitoring systems to enhance their market position. For example, Vaisala introduced the AWS810 Automatic Weather Station, integrating various analogue and digital sensors with robust data security mechanisms. This system allows real-time synoptic observation, monitoring of weather-critical events, and continuous, traceable climatological data for various agency, government, and research purposes.

Major players in the weather forecasting systems market are also concentrating on developing innovative products for weather forecasting. Product innovations involve the implementation of new technologies, models, or methods to improve the accuracy and timeliness of weather predictions. An example is the U.S. Air Force's collaboration with the U.S. Department of Energy’s Oak Ridge National Laboratory to launch the Fawbush and Miller high-performance weather forecasting computer system featuring HPE Cray EX supercomputers. These advancements contribute to higher-resolution simulations and more precise weather forecasts, enhancing the accuracy of numerical weather predictions.

In January 2022, Vaisala Corporation acquired Whether or Knot, LLC (AerisWeather) for $26 million. This strategic move aligns with Vaisala's goal to generate growth in recurring income businesses, including data as a service and software as a service, in its weather and environment business area. Whether or Knot, LLC (AerisWeather) is a U.S.-based software company providing weather and environmental information.

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

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 global weather forecasting systems market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the weather forecasting systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The weather forecasting systems market consists of sales of doppler radar, satellite data capturing device, radiosondes, automated surface-observing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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