Weather Forecasting System And Solutions Market Size, Share & Trends Report

Weather Forecasting System And Solutions Market Size, Share & Trends Analysis Report By Forecast Range (Short, Medium, Long), By Component Type, By End Use (Enterprise, Defense & Military), And Segment Forecasts, 2018 - 2025

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-350-8
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 85

Industry Outlook

The global weather forecasting system and solutions market size was valued at USD 2.51 billion in 2016. It is expected to post a CAGR of 7.1% over the forecast period. These systems help enterprises in gaining real-time insights into atmospheric conditions, which in turn, enables enterprises to carefully plan all weather-sensitive operations to ensure security, sustainability, safety, and cost efficiency. Factors such as growing sea and air transportation, increasing stringency of norms pertaining to environmental protection, and high dependency on rainfall for water supply are among the key trends stimulating market growth.

U.S. weather forecasting system and solutions market

Extreme weather conditions, which lead to natural disasters, have raised environmental concerns among individuals. Growing need for reliable information related to climate and constant monitoring are fueling growth of weather forecasting solutions market. These systems help enterprises in gaining real-time insights and improving decision-making process for profit optimization. However, issues regarding complexities in weather models and inaccurate predictions are likely to hinder the growth of the weather forecasting systems market.

Weather forecasting technologies have been widely adopted across most verticals in North America. The region has a large presence of prominent technology players focusing on innovations. Owing to increasing technological advancements, organizations in this region were the early adopters of these solutions.

Technological advancements such as improvements in data analytics and increase in the use of supercomputers delivering more computing power are working in favor of the market in North America. On the other hand, Asia Pacific is anticipated to emerge as the fastest growing region over the forecast period. Europe will also be a key destination for market players owing to high adoption of advanced technologies.

Forecast Range Insights

Weather forecasting systems and solutions help in analyzing the present and future atmospheric condition of a particular location. The system plays an important role in reducing the maintenance and operational costs of enterprises. Accurate weather prediction is necessary so that the enterprises can plan their activities accordingly. On the basis of range, the market has been segmented into short-range, medium-range, and long-range.

The medium range segment is estimated to emerge as the fastest growing segment over the forecast period. This range type varies from 7 to 10 days. It is used for applications such as water & flood management and agriculture. Medium range weather information are helpful in making small operational strategic decisions for enterprises. The short-range segment and long-range segment are also poised to expand significantly over the forecast period owing to rising need for safety and security. 

Component Type Insights

The systems segment is projected to witness the highest CAGR over the forecast period, owing to increasing need for weather stations and radars for accurate weather predictions. Additionally, demand for air-based and ground-based systems is experiencing sharp rise due to growing overseas business and need for reliable climate data.

The solutions segment dominated the market in 2016 and is expected to continue leading throughout the forecast period. The high growth can be attributed to advance computing and enhanced data analytics provided by solutions, which helps in reducing operational and maintenance costs.

End-Use Insights

Based on end use, the weather forecasting system and solutions market is divided into enterprises, defense & military, and meteorology & weather service providers. The enterprise segment dominated the market in 2016 and is likely to lead the market until 2025. These systems help in providing accurate climate predictions, which helps the enterprises in strategic decision-making. Additionally, high growth is anticipated in the enterprise segment due to rising need for advanced weather monitoring technologies.

Global weather forecasting system and solutions market

The defense & military segment is estimated to register significant growth over the coming years owing to increasing safety and security concerns across countries. The meteorology & weather service provider segment is poised to rise at a CAGR of just over 6.0% during the forecast years. Increasing natural disasters and uncertain rainfall are playing a pivotal role in stirring up the adoption of weather forecasting systems and solutions in the sector. Various industries such as transportation, energy, aviation, and oil & gas require advanced systems and solutions for smooth operations all over the world.

Regional Insights

North America was at the forefront of the market in 2016, owing to presence of prominent players such as All Weather, Inc. (AWI); Campbell Scientific, Inc.;Lockheed Martin Corporation; and Skye Instruments Limited; Vaisala Inc. (AWS). Factors such as rapid technological advancements, proliferation of digital services across all major verticals, and early adoption of the latest technologies in various sectors such as military & defense, renewable energy, transportation, and agriculture are influencing the growth of the region positively.

However, Asia Pacific is projected to emerge as the fastest growing regional market with a CAGR of 9.7% over the forecast period. Stringent regulatory norms, increasing sea & air transportation, and rainfall dependence for water supply are the key factors supplementing the growth of the regional market. Additionally, growing need for disaster management due to various natural calamities is expected to spur the demand for weather forecasting systems and solutions in the region.

Weather Forecasting System And Solutions Market Share Insights

Prominent players operating in the market include Airmar Technology Corp.; All Weather, Inc. (AWI); Campbell Scientific, Inc.; Columbia Weather Systems Inc.; Gill Instruments Limited; Lockheed Martin Corporation; MORCOM International; Munro Instruments Limited; Skye Instruments Limited; and Vaisala.

Key players are primarily focusing on providing cost-effective and innovative solutions. They are increasing their R&D spending to develop innovative solutions in order to gain a competitive edge over competitors. In an attempt consolidate their position, dominant market players have adopted strategies such as expansion and new product development. For instance, in 2015, Munro Instruments Limited released 150-Series weather sensors that allowed consumers to mix and match with other sensors.Major technology players are also making investments in innovation labs and centers of excellence as well as collaborating with various research institutes to develop new innovative solutions.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 - 2025

Regional scope

North America, Europe, Asia Pacific, and RoW

Country scope

U.S., Canada, U.K., Germany, Japan, China

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global weather forecasting system and solutions market report based on forecast range, component type, end use, and region:

  • Forecast range Outlook (Revenue, USD Million, 2014 - 2025)

    • Short-Range Forecast 

    • Medium-Range Forecast 

    • Long-Range Forecast

  • Component Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Solutions

    • Systems

  • End-Use Outlook (Revenue, USD Million, 2014 - 2025)

    • Enterprise

    • Defense & Military

    • Meteorology & Weather Service Provider

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

    • RoW

Key questions answered by the report
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