Weather Information Technology Market Revenues to Hit US$ 5 Bn by 2023
Fluctuating climatic patterns in tandem with intelligent data analytics for weather forecasting have been the prime drivers for the growth of weather information technology market. Conventionally being used for aviation and marine purposes, possible effects of climatic variations on food security and farming practices are offering opportunistic growth potential to market players. According to a recently published study by FMI, the market value of weather information technology will grow 6.2% y-o-y in 2023 over 2022 to attain a valuation of around US$ 5 Bn.
Frequently Asked Questions About Weather Information Technology Market
What are the future prospects of weather information technology market?
The development of new weather information technologies such as Internet, wireless devices, etc. has increased the availability of weather-related data, decreased diffusion costs, and created new markets for climate and weather information technology.
What are the major challenges for weather information technology market?
A large number of analytics companies are providing industry-specific weather information, which is a major challenge for the weather information technology market.
Which industry will have significant revenue growth in the next five years?
The aviation industry has been considered as largest meteorological customer and most of the developments made in forecasting services are becoming increasingly important for airlines. This is projected to offer significant growth opportunities for market players during the forecast period.
Which technologies are providing efficient weather forecasting?
The introduction of technologies such as radar, remote sensing from satellites, computers, information and communication, numerical modelling, and sensors are responsible for efficient weather forecasting and significantly boosting the weather information technology market growth.
Which region is expected to be at forefront in the weather information technology market?
Owing to significant need for weather forecasting from defence and agriculture sectors, Asia Pacific excluding Japan is expected to remain at forefront of high growth opportunities. The demand for efficient technology for weather forecasting is expected to increase in the region, thereby providing lucrative opportunities for leading market players.
Who are the major companies leading weather information technology market?
Prominent companies in the weather information technology market includes Lockheed Martin Corporation, Vaisala OYJ, The Weather Company, Accuweather Inc., Vaisala OYJ, Campbell Scientific Inc., Munro Instruments Ltd, Columbia Weather Systems Inc., Coastal Environmental Systems, Inc., and Morcom International Inc.
Air Quality Monitoring Remains Key Application Area
Concerns apropos degrading air quality is translating into increased demand to monitor and curb air pollution levels. This has resulted in surging application of weather information technology in air quality monitoring, which accounts for over 30% share of total market revenues. While air quality monitoring continues to be the key application area, use of weather information technology in weather monitoring and forecasting is likely to create new potential for market growth in the opportune time.
North America Leads, APEJ to Steal Spotlight
The weather information technology market in North America continues to engage stakeholders through 2029 owing to increasing application of supercomputing for weather forecast. As North America is one of the early adopters as well as frontrunners in the technology field, market players will reap maximum returns from the developed region. Further, surging demand for weather outlook in the defence and agriculture sectors are spurring the demand growth in Asia Pacific excluding Japan (APEJ).
Market Players Tapping White Spaces in Renewable Energy Production
To ensure uninterrupted energy distribution, energy providers require accurate weather information. As the amount of power produced from wind turbines linearly depends on the strength and direction of the wind, extracting energy from such renewable sources requires constant weather monitoring, thereby emerging as a possible application area for weather information technology service providers.
Air quality monitoring to generate high demand
Adoption in weather forecasting to gain momentum
Aviation industry remains top end users
Demand from marine industry increases significantly
How Growth will Unfold
In the present scenario, demand for weather information technology is gaining a spur from the aviation industry to satiate the need for weather projection in commercial as well as defense applications. Adoption of this technology in the aviation industry will continue to grow at a robust pace, accounting for nearly a quarter of the total market value. Moreover, increasing scope of application in marine and military & defense sectors is also auguring well for market players.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Weather Information Technology Market 2019-2029
A recent market study published by FMI on the weather information technology market includes a global end-user analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Weather Information Technologies Market Taxonomy
The global weather information technology market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
- Automatic Weather Stations
- Automated Weather Observing System (AWOS)
- Sounding Systems
- Weather Radar
- Others(Lightening, Air Quality)
- Maintenance Services
- Consulting Services
- Air Quality Monitoring
- Weather Monitoring
- Weather Forecasting
- Others (Chemical & Space Weather Monitoring)
- Military & Defense
- Others(Mining, Energy Utilities, Chemicals)
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
The report begins with the executive summary of the weather information technology market, which includes a summary of key findings and statistics of the market. It also includes the demand and supply-side trends pertaining to the market.
Readers can find the definition and detailed taxonomy of the weather information technology market in this chapter, which will help them understand the basic information about the market. Along with this, comprehensive information pertaining to weather information technology and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the weather information technology market report.
The weather information technology market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed end-user trends are also provided in this section.
This section includes several factors that have emerged as key successful factors, and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the weather information technology market during the forecast period of 2019-2029. It includes a detailed analysis of the historical weather information technology market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, the pricing analysis of the weather information technology market at the regional level has also been provided in this section.
This chapter explains the key macroeconomic factors that are expected to influence the growth of the weather information technology market over the forecast period. Along with macroeconomic factors, this section also highlights the supply chain, forecast factors, and value chain analysis of the weather information technology market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on product solution, the weather information technology market is segmented into systems (automatic weather stations, automated weather observing system (AWOS), sounding systems, weather radar, and others (lightening, air quality)), and services (maintenance services, consulting services). In this chapter, readers can find information about key trends and developments in the weather information technology market and market attractiveness analysis based on solution.
Based on product applications, the weather information technology market is segmented into air quality monitoring, weather monitoring, weather forecasting, and others (chemical & space weather monitoring). In this chapter, readers can find information about key trends and developments in the weather information technology market and market attractiveness analysis based on Applications.
This chapter provides various details about the weather information technology market based on end-user, and has been classified into utilities, agriculture, military & defense, transportation, marine, aviation, and others (mining, energy utilities, and chemicals). In this chapter, readers can understand the market attractiveness analysis based on Industry.
This chapter explains how the weather information technology market is anticipated to grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia-Pacific excluding Japan), Japan, and the Middle East & Africa.
This chapter includes a detailed analysis on the growth of the North America weather information technology market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on product Applications, operating system, end-user, vertical, and countries in North America.
This chapter provides the growth scenario of the weather information technology market in Latin American countries such as Brazil, Mexico, and the rest of Latin America. Along with this, assessment of the market across target segments has also been provided.
Important growth prospects of the weather information technology market in several countries such as Germany, UK, France, Spain, Italy, BENELUX, and the rest of Western Europe are included in this chapter.
This chapter provides the growth scenario of the weather information technology market in Eastern Europe countries such as Russia, Poland, and the rest of Eastern Europe.
This chapter highlights the growth of the weather information technology market in the APEJ region by focusing on China, India, ASEAN, Australia, New Zealand, and the rest of APEJ. This section also help readers understand key factors that are responsible for the growth of the weather information technology market in the APEJ region.
This section also help readers understand key factors that are responsible for the growth of the weather information technology market in Japan.
This chapter provides information about how the weather information technology market is anticipated to grow in major countries in the MEA region, such as GCC countries, South Africa, North Africa, Turkey, and the rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the weather information technology market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the weather information technology market, along with the detailed information about each company. This includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Lockheed Martin Corporation, Vaisala OYJ, Sutron Corporation, Campbell Scientific Inc., Coastal Environmental Systems, Inc., Columbia Weather Systems Inc., Met One Instruments Inc., and others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the weather information technology market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the weather information technology market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Sales Executives
- Technical Advisors
- Weather Information Technology Providers
- End-user Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near Term and Long Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Company White Papers
- Annual Reports and Investor Presentations
- Research Papers
- Company Press Release
- Government Websites and Publications
Primary Interview Splits