Weather Information Technologies Market

Weather Information Technologies Market: North America to Remain Dominant Regional Market Throughout the Forecast Period: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027

Global Weather Information Technologies Market – Key Regional Findings

In 2016, North America was the largest regional market for weather information technologies and is anticipated to dominate the global market throughout the forecast period. Increasing demand from the aerospace & defence, oil & gas and railways sectors coupled with improved accuracy in terms of weather forecasting are factors expected to drive growth of the global weather information technologies market. In terms of value, the North America weather information technologies market registered a CAGR of 3.9% from 2012–2016 and is expected to exhibit a CAGR of 5.1% from 2017–2027. The APEJ weather information technologies market registered a CAGR of 4.0% from 2012–2016 and is expected to exhibit a CAGR of 5.4% in terms of value from 2017–2027. The weather information technologies market in MEA is expected to represent incremental opportunity of US$ 37.8 Mn between 2017 and 2027.

weather information technologies market

APEJ expected to witness significant growth during the period of forecast

The APEJ weather information technologies market is expected to register high Y-o-Y growth rates throughout the forecast period. The market in APEJ is also expected to exhibit a significant value CAGR during the forecast period. Within the APEJ region, revenue from the China weather information technologies market is projected to account for more than 28% share of the APEJ weather information technologies market by the end of 2027. The weather information technologies market in India is expected to represent incremental opportunity of more than US$ 15 Mn between 2017 and 2027. The weather information technologies market in APEJ is expected to be valued at more than US$ 120 Mn in 2017 and is projected to reach more than US$ 200 Mn by the end of 2027. The market in APEJ is expected to represent incremental opportunity of more than US$ 80 Mn between 2017 and 2027.

Increasing expenditure on sea, road and railway transport and increasing demand from defence and agriculture verticals to boost the weather information technologies market in APEJ

Increasing expenditure of APEJ countries in improving sea, road and railway transport is expected to drive demand for weather information technologies in the region. The demand is expected to be high as governments have to know accurate weather forecasts during the construction process to avoid any adverse scenarios. Also, after the development of such routes, it is necessary to know the weather conditions to ensure smooth trade between countries. For instance, through the One Belt and One Road (OBOR) project, China has planned to invest US$ 800 Bn in order to connect Asian countries through the Silk Road Economic Belt connecting via road and 21st Century Maritime Silk Road connecting via sea route. In 2016, India and Iran signed a deal worth US$ 500 Mn to develop Iran’s Chabahar port so as to transport goods via sea to Afghanistan and Central Asia.

Increasing demand from defence and agriculture verticals is expected to provide support to the growth of the weather information technologies market in APEJ. The economy of South Asian countries including India, Pakistan, Nepal, and Bangladesh is primarily an agro-based economy with a large portion of the population relying on the agriculture sector, which is dependent upon rain from the monsoon. Anomalies occurring during the monsoon season affect the entire region and thus there is a need for better forecasting methods and equipment, which eventually aids in driving demand for weather information technologies. Also, military operations require constant weather updates in order to successfully implement critical operations, which is why the vertical is witnessing increasing demand for weather information technologies and this rising demand is supported by increasing expenditure on defence budgets by APEJ countries such as China, India and Vietnam.

North America and APEJ were the dominant regions in the global weather information technologies market in 2016 in terms of revenue sales. In the years to come countries in North America are anticipated to be the key markets for sustainable revenue generation from weather information technologies. For instance, the U.S is likely to remain a key market in the global weather information technologies market. Significant market potential exists in countries in APEJ such as China, India and ASEAN. According to Future Market Insights analysis published in our recent report “Weather Information Technologies Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027,” new product launches and mergers and acquisitions of small and entry level players are projected to remain as the key strategies of prominent players in the global weather information technologies market to facilitate their sales growth. Furthermore, it has been observed that developing applications for weather information technologies in the renewable energy sector is the current global trend. After a detailed study of the global weather information technologies market, we have noticed that aerospace and defence remains the key industry growth sectors, accounting for over 20% of the total weather information technologies sales in 2016. Weather information technologies find major applications in the oil & gas industry used to support proper functioning of oil and fissile material extrusion plants.

Report Description

The key part of this report is Future Market Insights’ analysis and recommendations on the global weather information technologies market. The overview of the market mainly consists of market taxonomy and market dynamics that underlines factors influencing the growth of the global weather information technologies market. The analysts have provided key strategic recommendations for both existing and new players in the market to emerge sustainably profitable. Decline or increase in prices during the period of assessment is based on historic market trends; any decline or increase in prices over the forecast period is kept linear across countries. The general market scenario is assumed for weather information technologies sales and key growth driving factors are assumed to develop the market forecast. The report also covers the competitive landscape that provides a dashboard view of companies manufacturing and providing services in the global weather information technologies market. The report profiles some of the key players and provides a strategic overview of mergers and acquisitions along with their regional expansion plans.

Market Segmentation

By Industry

By Product

By Region

  • Agriculture

  • Aerospace and Defence

  • Oil and Gas

  • Railways

  • Construction

  • Others

  • Weather System

  • Monitoring Devices

  • Software

  • Mounting Hardware

  • Communication Devices

  • North America

  • Latin America

  • Asia Pacific (Excluding Japan)

  • Japan

  • Eastern Europe

  • Western Europe

  • Middle East and Africa

 Research Methodology

The research methodology of this comprehensive study is based on forecasts that focus on both global as well as regional trends in the economy, technology and population, along with company, product, country and demography specific trends. These trends are analysed thoroughly and underlying factors are also identified prior to incorporating in the report. Economic, technological, institutional, behavioural and competitive factors that may affect the global weather information technologies market are also considered. Forecasting models are developed in order to quantify the impact of each of these factors on industry spending. A forecast scenario for each causative factor is then created and the contribution of each factor is identified on a prospective basis. Figures are estimated in local currencies for each country and then converted to US dollars (US$) using the average 2015 exchange rate, which is held constant for each historical year and forecast year. This means the figures reflect realistic industry trends, rather than being distorted by fluctuations in international currency exchange rates.