[320 Pages Report] The global weather information technology market is set to enjoy a valuation of US$ 4,772.7 Million in 2022, and further expand at a CAGR of 6.1% to reach US$ 7,216.3 Million by the year 2029. The weather information technology market holds a share of nearly 5% in the global environmental technology market.
| Attributes | Details |
|---|---|
| 2022 Market Value | US$ 4,772.7 Million |
| 2029 Market Value | US$ 7,216.3 Million |
| CAGR% (2022 to 2029) | 6.1% |
| Share of Top 5 Players | 20% |
New communication networks and forecast systems such as digital database forecasting, nowcasting systems, wireless communication, and others are emerging and providing the opportunity to improve Public Weather Services (PWS). Using technology like augmented reality, meteorologists are creating visuals from weather radar and forecasting models and helping viewers prepare for future storms.
With the help of weather monitoring systems, organizations can depend on weather conditions and make accurate predictions for achieving maximum return on investment. The incorporation of small satellites for weather monitoring researchers has led to exceptional market growth.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 5.6% |
| H1,2022 Projected (P) | 5.8% |
| H1,2022 Outlook (O) | 5.1% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 72 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 52 ↓ |
Weather information technologies collect data with the help of ships, satellites, airplanes, Doppler radars, weather stations, and buoys. As per FMI analysis, the difference in BPS values observed in the weather information technology market in H1, 2022 - Outlook (O) against H1, 2022 Projected (P) represents a 72-unit reduction.
With numerous mandated rules, the onset of the COVID-19 pandemic has reshaped the market's capacities. Travel limitations such as decreasing the frequency of flights and cruises lower the accuracy of meteorological information.
Moreover, weather information technology consumption is expected to drop by 52 BPS in H1-2022 compared to H1-2021 (A). Due to the inherent nonlinearity of weather prediction models, the weather forecasting process becomes difficult. Furthermore, the appropriate integration and analysis of a massive amount of data is a complicated process.
Long-scale weather patterns can be obtained with more precision, but there are no reliable means to conduct a short-term weather study. This is projected to slow the weather information technologies market growth.
Weather information technology is the prediction of the state of the atmosphere for a given location using the application of technology and scientific knowledge to make weather observations.
Weather information technology uses all kinds of tools such as Doppler radar, radiosondes, satellite data, supercomputers, and automated surface observing systems. There are four types of weather information technology which are large range, medium range, short range, and hazardous.
The rising demand for air quality monitoring and curbing air pollution levels has led to phenomenal market growth. Increasing application of advanced weather monitoring systems in industries such as transportation, marine, and aviation for predictions of the present atmospheric and weather conditions will drive the growth of the weather information technology market.
The weather information technology market demand is estimated to rise at 6.1% CAGR between 2022 and 2029 in comparison with the 5.2% CAGR registered from 2014 to 2021.
The global weather information technology market is anticipated to witness an increase in revenue from ~US$ 4,772.7 Million in 2022 to ~US$ 7,216.3 Million by 2029.
Extreme weather conditions pose a major threat to nuclear power plants, disrupting the functionality of processes and equipment, which are critical for safe operation. Energy providers need precise weather data to ensure energy supply to their customers. The amount of power generated from wind turbines is affected by the direction and strength of the wind.
Generating renewable sources of energy in the form of solar and wind energy requires constant weather monitoring. This trend suggests a rise in the adoption of weather forecasting, resulting in significant growth of the weather information technology market.
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The market in the USA is anticipated to be valued at around US$ 316.4 Million by 2029. The country will account for over 21.2% of the share in the Western Europe region.
Manufacturers and suppliers of environmental and meteorological monitoring equipment in the UK are focusing on air traffic control systems and aviation weather systems to increase their market share in the weather information technology market.
The market for weather information technology in GCC Countries has a value of around US$ 143.4 Million in 2021.
Governments of the Gulf countries are planning to invest a good amount of money in weather monitoring and forecasting techniques for lining up business activities as per the changes in weather conditions. There is an increase in the use of supercomputers in the country for predicting every kind of weather hazard imaginable, including tornadoes, hurricanes, space weather, and extreme heat.
In addition, weather information technology providers are using supercomputing systems to collect, analyze, and process terabytes of data from weather satellites and surface stations. This is expected to increase the demand for weather information technology in GCC Countries.
Overall weather information technology spending in Russia is likely to increase at a rate of almost 8.3% from 2022 to 2029, with a market value of US$ 207.1 Million in 2021.
The country is adopting artificial intelligence technology in weather information as it is a valuable tool in the development of the economy in terms of growth in the fields such as transportation, environment, and others in terms of response and efficiency. Industries such as marine and aviation in Russia are using analytic tools to shift through historical and current data to detect forecast events and trends.
These tools are further giving lots of information about disasters and help in disaster readiness. Such factors are creating demand for weather information technology in Russia.
Expanding at a CAGR of 3.3%, the agriculture segment is projected to increase from a valuation of US$ 462.6 Million in 2021 to US$ 600.7 Million by 2029.
The development of IoT sensors for weather information technology is expected to deliver essential weather predictions to farmers. IoT sensors are placed outside and inside agriculture fields. The application of IoT sensors in the agriculture sector has benefited farmers to watch the water tank levels in real-time, which makes the watering process more effective.
Management of climate and weather information can help make better-informed policy, community, and institutional decisions that decrease related risks and improve opportunities, improve the efficient use of limited resources, livestock, and fisheries production, and increase crop production as well.
The weather forecasting application segment is expected to contribute a revenue share of more than 23.0% in 2022 and is expected to grow at a high CAGR of 6.2%.
Real-time weather forecasting is very necessary for operational meteorologists, aviation, and scientists. Real-time weather forecasting is now widely available covering macroeconomic variables for many countries. Real-time weather information technology data is assessed according to analytical criteria, based on models’ point forecasts and density forecasts, and according to business criteria.
This data helps to build more accurate forecasts and provides flexible real-time forecast monitoring at different time horizons. Thus, the adoption of real-time forecasting applications in industries fuels weathers information technology market growth.
The demand for weather information technologies in the military & defense segment is expected to show a surge at a CAGR of 5.1% for the forecast period 2022 to 2029.
Military operations require continuous weather updates to complete their operations. Battlefield commanders need current, past, and future weather information, which is boosting the demand for weather information technology.
The technology also provides Air Force weather operation in-flight and pre-flight weather briefs to pilots and gives real-time resource security services for military installations. The demand is supported by increasing expenditure on the defense budget.
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Weather information technology providers are continuously focused on cost reduction of the product and improved services by implementing different strategies such as product innovation, partnership, acquisition, and geographical expansion. With these strategies, key players expect to strengthen their presence in the global market and develop advanced weather forecasting technologies.
| Attributes | Details |
|---|---|
| Market value in 2022 | US$ 4,772.7 Million |
| Market CAGR 2022 to 2029 | 6.1% |
| Share of top 5 players | Around 20% |
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan and Middle East & Africa (MEA) |
| Key Countries Covered | The USA, Canada, Germany, France, Italy, Spain, The UK, India, Australia, New Zealand, China, Japan, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | The solution, Application, Industry, and Region |
| Key Companies Profiled |
Lockheed Martin Corporation; Vaisala OYJ; Sutron Corporation; Campbell Scientific Inc.; Coastal Environmental Systems, Inc.; Columbia Weather Systems Inc.; Met One Instruments Inc.; Morcom International Inc.; MUNRO INSTRUMENTS LTD; Skye Instruments Ltd; The Weather Company; Accuweather, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
By Solution :
By Application :
By Industry :
By Region :
Some of the leading companies in this landscape are Lockheed Martin Corporation, Vaisala OYJ, Sutron Corporation, Campbell Scientific, and Coastal Environmental Systems among others. Nearly 30%-40% of the market share is currently covered by the top 10 players.
The top 5 countries driving demand for weather information technology include Canada, Mexico, Germany, India, and Turkey.
The weather information technology market in the Middle East & Africa is estimated to expand 1.7X over the forecast period.
The weather information technology market is expected to total US$ 4,772.7 Million by the end of 2022 and is likely to reach US$ 7,216.3 Million by 2029.
The weather information technology demand in GCC Countries and Poland was valued at US$ 143.4 Million and US$ 108.2 Million in 2021, respectively.
1. Executive Summary | Weather Information Technology Market 1.1. Market Overview 1.2. Market Analysis 1.3. Demand Side Trends 1.4. Supply Side Trends 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Innovation/Development Trends 4. Key Success Factors 4.1. Strategic Promotional Strategies 4.2. Solution USPs 5. Market Structure Analysis 5.1. Market Analysis by Tier of Companies 5.2. Market Concentration 5.3. Market Presence Analysis 5.3.1. Regional Footprint by Players 5.3.2. Product Footprint by Players 5.3.3. Channel Footprint by Players 6. Global Market Demand (in Value or Size in US$ Million) Analysis 2014 to 2021 and Forecast, 2022 to 2029 6.1. Historical Market Value (US$ Million) Analysis, 2014 to 2021 6.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2029 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 6.2.3. Market Snapshot 7. Market Background 7.1. Macro-Economic Factors 7.2. Forecast Factors - Relevance & Impact 7.3. Value Chain Analysis 7.4. Market Dynamics 7.4.1. Drivers 7.4.2. Restraints 7.4.3. Opportunity Analysis 8. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Solution 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Million) Analysis By Solution, 2014 to 2021 8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Solution, 2022 to 2029 8.3.1. Systems 8.3.1.1. Automatic Weather Stations 8.3.1.2. Automated Weather Observing System (AWOS) 8.3.1.3. Sounding Systems 8.3.1.4. Weather Radar 8.3.1.5. Others 8.3.2. Services 8.3.2.1. Maintenance Services 8.3.2.2. Consulting Services 8.4. Market Attractiveness Analysis By Solution 9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Applications 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) Analysis By Applications, 2014 to 2021 9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Applications, 2022 to 2029 9.3.1. Air Quality Monitoring 9.3.2. Weather Monitoring 9.3.3. Weather Forecasting 9.3.4. Others 9.4. Market Attractiveness Analysis By Applications 10. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Industry 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) Analysis By Industry, 2014 to 2021 10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Industry, 2022 to 2029 10.3.1. Utilities 10.3.2. Agriculture 10.3.3. Military & Defense 10.3.4. Transportation 10.3.5. Marine 10.3.6. Aviation 10.3.7. Others (Mining, Chemicals) 10.4. Market Attractiveness Analysis By Industry 11. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Region 11.1. Introduction 11.2. Historical Market Size (US$ Million) and Analysis By Region, 2014 to 2021 11.3. Current Market Size (US$ Million) and Analysis and Forecast By Region, 2022 to 2029 11.3.1. North America 11.3.2. Latin America 11.3.3. Eastern Europe 11.3.4. Western Europe 11.3.5. Asia Pacific Excluding Japan (APEJ) 11.3.6. Japan 11.3.7. Middle East & Africa (MEA) 11.4. Market Attractiveness Analysis by Region 12. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 12.1. Introduction 12.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 12.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029 12.3.1. By Country 12.3.1.1. The USA 12.3.1.2. Canada 12.3.2. By Solution 12.3.3. By Applications 12.3.4. By Industry 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Solution 12.4.3. By Applications 12.4.4. By Industry 12.5. Market Trends 12.6. Drivers and Restraints - Impact Analysis 13. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 13.1. Introduction 13.2. Historical Market Size (US$ Million) Analysis By Market Taxonomy, 2014 to 2021 13.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029 13.3.1. By Country 13.3.1.1. Brazil 13.3.1.2. Mexico 13.3.1.3. Rest of Latin America 13.3.2. By Solution 13.3.3. By Applications 13.3.4. By Industry 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Solution 13.4.3. By Applications 13.4.4. By Industry 13.5. Market Trends 13.6. Drivers and Restraints - Impact Analysis 14. Western Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029 14.1. Introduction 14.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 14.3. Market Size (US$ Million) and Forecast By Market Taxonomy, 2022 to 2029 14.3.1. By Country 14.3.1.1. Germany 14.3.1.2. Italy 14.3.1.3. France 14.3.1.4. The UK 14.3.1.5. Spain 14.3.1.6. BENELUX 14.3.1.7. Rest of Europe 14.3.2. By Solution 14.3.3. By Applications 14.3.4. By Industry 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Solution 14.4.3. By Applications 14.4.4. By Industry 14.5. Market Trends 14.6. Drivers and Restraints - Impact Analysis 15. Eastern Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029 15.1. Introduction 15.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 15.3. Market Size (US$ Million) and Forecast By Market Taxonomy, 2022 to 2029 15.3.1. By Country 15.3.1.1. Russia 15.3.1.2. Poland 15.3.1.3. Rest of Eastern Europe 15.3.2. Solution 15.3.3. By Applications 15.3.4. By Industry 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Solution 15.4.3. By Applications 15.4.4. By Industry 15.5. Market Trends 15.6. Drivers and Restraints - Impact Analysis 16. Asia Pacific Excluding Japan Market Analysis 2014 to 2021 and Forecast 2022 to 2029 16.1. Introduction 16.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 16.3. Market Size (US$ Million) and Forecast By Market Taxonomy, 2022 to 2029 16.3.1. By Country 16.3.1.1. China 16.3.1.2. India 16.3.1.3. Indonesia 16.3.1.4. Malaysia 16.3.1.5. South Korea 16.3.2. By Solution 16.3.3. By Applications 16.3.4. By Industry 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Solution 16.4.3. By Applications 16.4.4. By Industry 16.5. Market Trends 16.6. Drivers and Restraints - Impact Analysis 17. Japan Market Analysis 2014 to 2021 and Forecast 2022 to 2029 17.1. Introduction 17.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 17.3. Market Size (US$ Million) and Forecast By Market Taxonomy, 2022 to 2029 17.3.1. Solution 17.3.2. By Applications 17.3.3. By Industry 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Solution 17.4.3. By Applications 17.4.4. By Industry 17.5. Market Trends 17.6. Drivers and Restraints - Impact Analysis 18. Middle East & Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029 18.1. Introduction 18.2. Historical Market Size (US$ Million) and Trend Analysis By Market Taxonomy, 2014 to 2021 18.3. Market Size (US$ Million) and Forecast By Market Taxonomy, 2022 to 2029 18.3.1. By Country 18.3.1.1. GCC Countries 18.3.1.2. Turkey 18.3.1.3. Northern Africa 18.3.1.4. South Africa 18.3.1.5. Rest of Middle East and Africa 18.3.2. By Solution 18.3.3. By Applications 18.3.4. By Industry 18.4. Market Attractiveness Analysis 18.4.1. By Country 18.4.2. By Solution 18.4.3. By Applications 18.4.4. By Industry 18.5. Market Trends 18.6. Drivers and Restraints - Impact Analysis 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Benchmarking 19.3. Competition Deep Dive 19.3.1. Lockheed Martin Corporation 19.3.1.1. Overview 19.3.1.2. Product Portfolio 19.3.1.3. Profitability by Market Segments (Product / Channel / Region) 19.3.1.4. Strategy Overview 19.3.1.4.1. Marketing Strategy 19.3.1.4.2. Product Strategy 19.3.1.4.3. Channel Strategy 19.3.2. Vaisala OYJ 19.3.2.1. Overview 19.3.2.2. Product Portfolio 19.3.2.3. Profitability by Market Segments (Product / Channel / Region) 19.3.2.4. Strategy Overview 19.3.2.4.1. Marketing Strategy 19.3.2.4.2. Product Strategy 19.3.2.4.3. Channel Strategy 19.3.3. Sutron Corporation 19.3.3.1. Overview 19.3.3.2. Product Portfolio 19.3.3.3. Profitability by Market Segments (Product / Channel / Region) 19.3.3.4. Strategy Overview 19.3.3.4.1. Marketing Strategy 19.3.3.4.2. Product Strategy 19.3.3.4.3. Channel Strategy 19.3.4. Campbell Scientific Inc. 19.3.4.1. Overview 19.3.4.2. Product Portfolio 19.3.4.3. Profitability by Market Segments (Product / Channel / Region) 19.3.4.4. Strategy Overview 19.3.4.4.1. Marketing Strategy 19.3.4.4.2. Product Strategy 19.3.4.4.3. Channel Strategy 19.3.5. Coastal Environmental Systems, Inc. 19.3.5.1. Overview 19.3.5.2. Product Portfolio 19.3.5.3. Profitability by Market Segments (Product / Channel / Region) 19.3.5.4. Strategy Overview 19.3.5.4.1. Marketing Strategy 19.3.5.4.2. Product Strategy 19.3.5.4.3. Channel Strategy 19.3.6. Columbia Weather Systems Inc. 19.3.6.1. Overview 19.3.6.2. Product Portfolio 19.3.6.3. Profitability by Market Segments (Product / Channel / Region) 19.3.6.4. Strategy Overview 19.3.6.4.1. Marketing Strategy 19.3.6.4.2. Product Strategy 19.3.6.4.3. Channel Strategy 19.3.7. Met One Instruments Inc. 19.3.7.1. Overview 19.3.7.2. Product Portfolio 19.3.7.3. Profitability by Market Segments (Product / Channel / Region) 19.3.7.4. Strategy Overview 19.3.7.4.1. Marketing Strategy 19.3.7.4.2. Product Strategy 19.3.7.4.3. Channel Strategy 19.3.8. Morcom International Inc. 19.3.8.1. Overview 19.3.8.2. Product Portfolio 19.3.8.3. Profitability by Market Segments (Product / Channel / Region) 19.3.8.4. Strategy Overview 19.3.8.4.1. Marketing Strategy 19.3.8.4.2. Product Strategy 19.3.8.4.3. Channel Strategy 19.3.9. MUNRO INSTRUMENTS LTD 19.3.9.1. Overview 19.3.9.2. Product Portfolio 19.3.9.3. Profitability by Market Segments (Product / Channel / Region) 19.3.9.4. Strategy Overview 19.3.9.4.1. Marketing Strategy 19.3.9.4.2. Product Strategy 19.3.9.4.3. Channel Strategy 19.3.10. Skye Instruments Ltd 19.3.10.1. Overview 19.3.10.2. Product Portfolio 19.3.10.3. Profitability by Market Segments (Product / Channel / Region) 19.3.10.4. Strategy Overview 19.3.10.4.1. Marketing Strategy 19.3.10.4.2. Product Strategy 19.3.10.4.3. Channel Strategy 19.3.11. The Weather Company 19.3.11.1. Overview 19.3.11.2. Product Portfolio 19.3.11.3. Profitability by Market Segments (Product / Channel / Region) 19.3.11.4. Strategy Overview 19.3.11.4.1. Marketing Strategy 19.3.11.4.2. Product Strategy 19.3.11.4.3. Channel Strategy 19.3.12. Accuweather, Inc. 19.3.12.1. Overview 19.3.12.2. Product Portfolio 19.3.12.3. Profitability by Market Segments (Product / Channel / Region) 19.3.12.4. Strategy Overview 19.3.12.4.1. Marketing Strategy 19.3.12.4.2. Product Strategy 19.3.12.4.3. Channel Strategy 20. Assumptions and Acronyms Used 21. Research Methodology
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Weather Information Technology Market
