Weather Monitoring Solutions and Services Global Market Report 2024

The weather monitoring solutions and services market 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 historical period's growth can be ascribed to the emphasis on preparedness for natural disasters, the demands of the agricultural sector, ensuring safety in aviation and transportation, meeting the requirements of the energy industry, and supporting research and scientific exploration.

The weather monitoring solutions and services market 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 anticipated growth in the forecast period can be credited to efforts in climate change mitigation, the adoption of precision agriculture, initiatives for smart cities, the integration of renewable energy, and the heightened frequency of extreme weather events. Noteworthy trends expected in the forecast period encompass an increased emphasis on integrating renewable energy, progress in weather visualization, the development of customized industry-specific solutions, and continuous enhancements in data quality.

The expected increase in the number of natural disaster incidents is set to drive the growth of the weather monitoring solutions and services market in the future. Natural disasters, stemming from Earth's natural processes, cause severe environmental damage and loss of life. Scientists utilize various tools to gather weather-related information, monitor natural disasters, and employ the Gutenberg-Richter diagram to predict the size and frequency of future disasters. For example, as of March 2023, ReliefWeb reported that the Emergency Event Database (EM-DAT) recorded 387 natural disasters and hazards globally in 2022, impacting 185 million people and resulting in 30,704 fatalities. The projected economic damages amounted to $2233.8 billion. Consequently, the increased occurrence of natural disaster incidents is a key driver of growth in the weather monitoring solutions and services market.

The expanding initiatives for smart cities are expected to contribute to the growth of the weather monitoring solutions and services market in the coming years. Smart city initiatives encompass comprehensive and integrated efforts by cities to leverage technology, data, and innovation to enhance sustainability, optimize urban services and infrastructure, and improve the overall quality of life for citizens. Weather monitoring systems play a crucial role in various aspects of smart city initiatives, including energy conservation, urban planning, and traffic control. For instance, according to the American Society of Mechanical Engineers in January 2023, London has implemented several initiatives to support technology innovation and smart cities, including the establishment of a prominent data-sharing platform and the enhancement of areas with limited Internet access. London is also conducting a trial initiative to provide improved mobile connectivity and plans to create free wifi hotspots with additional features such as free phone calls, maps, charging capabilities, and the integration of CO2 and air quality sensors by 2021. Hence, the growing smart city initiatives are fueling the weather monitoring solutions and services market.

Technological advancements represent a prominent trend gaining traction in the weather monitoring solutions and services market. Companies within this sector are embracing new technologies to maintain their competitive positions. For example, in April 2023, Aderis Energy LLC, a US-based full-service utility-scale PV and solar O&M service provider, introduced SunSpector, an edge-based smart weather station. SunSpector, an intelligent weather station, utilizes edge computing to help clients optimize renewable energy installations. It features data logging, performance analysis, and energy modeling capabilities for managing renewable energy systems. SunSpector incorporates an edge computing platform, servo-controlled plane of array (POA) tracking, and an innovative resource assessment tool. It facilitates data logging, analytics, energy loss computation, and validation of weather modeling assumptions.

Major companies in the weather monitoring solutions and services market are adopting a strategic partnership approach to provide an IoT-based weather monitoring system. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. For instance, in August 2022, Sensera Systems, Inc., a US-based software company, announced a partnership with Vaisala Oyj. Vaisala integrated its Wx Horizon service with Sensera System's SiteCloud and solar-powered/wireless cameras to provide visual data complementing its GroundCast sensors, enabling real-time road condition analytics. This collaboration allowed Vaisala to swiftly launch a comprehensive parking lot winter maintenance solution on the market, incorporating sensors, a camera, predictions, and a user interface into a single service. The integration was seamless, contributing to the delivery of an end-to-end solution with a track record of performance and reliability. Vaisala Oyj is a Finland-based environmental solutions company.

In January 2022, Vaisala Oyj, a Finland-based company specializing in environmental and industrial measurement products, acquired Whether or Knot, LLC, for approximately USD 26 million. This acquisition enhances Vaisala's Weather and Environment business area's objective to foster development in data-as-a-service and software-as-a-service recurring revenue industries. Whether or Knot, LLC, is a US-based software company offering environmental and weather information.

Major companies operating in the weather monitoring solutions and services market report are 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.

Asia-Pacific was the largest region in the weather monitoring solution and services market in 2023. The regions covered in the weather monitoring solutions and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the weather monitoring solutions and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of weather monitoring solutions and services include solutions, hardware, software, and data services. A solution refers to the comprehensive package of essential services, documentation, hardware, and software required to execute a project. It is utilized for the detection, recording, and display of weather characteristics such as temperature and humidity. Various instruments, such as thermometers, barometers, anemometers, and pyranometers, can be deployed either on-premise or in the cloud. These instruments find applications in diverse sectors, including agriculture, meteorology, renewable energy, transport and logistics, government, and others.

The weather monitoring solutions and services market research report provides weather monitoring solutions and services market statistics, including weather monitoring solutions and services industry global market size, regional shares, competitors with a weather monitoring solutions and services market share, detailed weather monitoring solutions and services market segments, market trends and opportunities, and any further data you may need to thrive in the weather monitoring solutions and services industry. This weather monitoring solutions and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The weather monitoring solutions and services includes revenues earned by entities providing services by monitoring wind speed, air humidity, and related soil temperature, wind direction, rainfall, light intensity, and atmospheric pressure. The market value includes the value of related goods sold by the service provider or included within the service offering. The weather monitoring solutions and services market also includes sales of anemometer, wind vane, pressure sensor, thermometer, hygrometer which are used in providing weather monitoring solutions and services. 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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