DUBLIN--(BUSINESS WIRE)--Oct 28, 2022--
The "Weather Forecasting Systems Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global weather forecasting systems market.
The global weather forecasting systems market is expected to grow from $2.29 billion in 2021 to $2.38 billion in 2022 at a compound annual growth rate (CAGR) of 4.25%.
The growth is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.97 billion in 2026 at a CAGR of 5.61%.
Companies Mentioned
Reasons to Purchase
The weather forecasting systems market consists of the sales of weather forecasting technologies by entities (organizations, partnerships, and sole proprietors) that combine technology and science to anticipate the state of the atmosphere for a specific time and location in the future. Weather forecasts are developed by gathering as much information as possible regarding the current atmospheric conditions (like humidity, temperature, and wind) and applying knowledge of atmospheric processes (through meteorology) to predict how the atmosphere will evolve in the future.
The main types of weather forecasting systems include short-range, medium-range, and long-range. Short-range weather forecasting systems are used to forecast for a short period, ranging from 1 day to seven days. The different weather forecasting systems' components include data loggers, software, sensors, and hardware. Barometers, anemometers, hygrometers, rain gauges, thermometers, sling psychrometers, and weather balloons are among the various weather forecasting system equipment used by end-users such as aviation, military, energy, agriculture, marine, and transportation.
North America was the largest region in the weather forecasting systems market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing adoption of renewable energy sources is significantly driving the growth of the weather forecasting systems market. Renewable energy generation, particularly wind and solar power, is volatile due to its reliance on the weather and hence requires proper forecasting systems to avoid downtime and improve efficacy. According to the International Renewable Energy Agency (IRENA), the world added more than 260 gigatonnes (GW) of renewable energy capacity in 2020, nearly tripling the amount added in 2019. Hence, the increasing adoption of renewable energy sources is expected to propel the growth of the weather forecasting systems market over the coming years.
The adoption of sophisticated weather monitoring systems is a key trend gaining popularity in the market. Major companies operating in the weather forecasting systems sector are focused on developing sophisticated weather monitoring systems to strengthen their position.
For instance, in October 2021, Finland-based environmental and industrial measurement company Vaisala introduced the AWS810 Automatic Weather Station, which integrates several analogue and digital sensors, offering a range of configuration and connectivity options. The new system has robust data security mechanisms built into the hardware and software to protect against security threats and unauthorised access and ease of remote maintenance to enable efficient management of large networks. The AWS810 enables users to access real-time synoptic observation and monitoring of weather-critical events as well as continuous, traceable climatological data for a number of agency, government, and research purposes.
The countries covered in the weather forecasting systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/8v6t5b
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/28/2022 06:17 AM/DISC: 10/28/2022 06:17 AM
http://www.businesswire.com/news/home/20221028005207/en