The SNS Insider report indicates that the Weather Forecasting Systems Market was valued at USD 2.8 billion in 2023 and is expected to grow to USD 5.0 billion by 2032, achieving a compound annual growth rate (CAGR) of 6.36% over the forecast period of 2024-2032.

The demand for weather forecasting systems is rapidly increasing, driven by several key factors. One of the primary drivers is the rising need for accurate and timely weather predictions, especially as climate change leads to more extreme weather events. Industries such as agriculture, transportation, and energy are increasingly dependent on reliable weather data to optimize operations, minimize risks, and enhance productivity. In agriculture, farmers are utilizing weather forecasting systems to make informed decisions about planting, irrigation, and harvesting, which ultimately improves yield and reduces waste. For instance, precise rainfall predictions can help farmers plan their irrigation schedules more effectively, leading to better resource management. Similarly, the transportation sector relies on accurate weather forecasts to ensure safety and efficiency in operations, particularly for air travel and shipping.

Book Your Sample Report @ https://www.snsinsider.com/sample-request/2430

Key Players:

• Skymet Weather Services Pvt., Ltd.
• Skyview Systems Ltd.
• Global Weather Corporation
• Accuweather Inc.
• BMT Group
• Fugro
• Enav S.p.A
• Met Office
• Precision Weather
• The Weather Company

Moreover, advancements in technology, such as satellite imaging and artificial intelligence, have significantly enhanced the capabilities of weather forecasting systems. These technologies enable the collection and analysis of vast amounts of data, resulting in more accurate and timely forecasts. As a result, government and private organizations are investing heavily in upgrading their forecasting infrastructure, further propelling market growth. For instance, The India Meteorological Department (IMD) has seen increased funding in recent years. In 2023, the Indian government announced an investment of ₹2,400 crore (approx. USD 300 million) over the next five years to upgrade its weather forecasting systems, including the deployment of new Doppler radar networks and satellite-based observation systems.

In addition to technological advancements, government initiatives aimed at improving disaster preparedness and response also contribute to the growing demand for weather forecasting systems. Governments worldwide are increasingly recognizing the importance of accurate weather predictions in mitigating the impacts of natural disasters. This has led to increased funding for research and development in forecasting technologies, as well as collaboration between government agencies and private companies.

Segmentation Analysis

By Solution

In 2023, the hardware segment dominated with a market share of 59.9%. Weather forecasting relies on complex simulations and computations that demand significant computational power. As technology progresses, advancements in hardware systems—like high-performance processors and graphics cards—allow meteorologists to execute more detailed and accurate weather models, resulting in better forecasts.

The software segment is expected to grow at the fastest CAGR of 8.6% during the forecast period. Intelligent building automation technology services include engineering services. With the rise of high-performance computing, complex meteorological models can now be executed more swiftly and accurately, creating opportunities for the development of more intricate and precise forecasting models that require robust software components.

By End-Use

The meteorology and weather service provider segment led the market in 2023, capturing the largest revenue share of 20.7%. The rise in natural disasters and unpredictable rainfall is driving the adoption of weather forecasting systems and solutions in this sector. Industries such as transportation, energy, aviation, and oil & gas require advanced systems to ensure smooth operations globally.

The power and energy segment is projected to experience the fastest growth, with a CAGR of 7.9% during the forecast period. The increasing use of renewable energy sources like solar and wind power introduces greater variability in energy generation due to weather conditions. Accurate weather forecasts enable energy providers to anticipate fluctuations in production and enhance grid management.

Additionally, the defense and military segment is expected to see significant growth in the coming years due to rising safety and security concerns among nations. Overall, the meteorology and weather service provider segment is set to expand considerably in the forecast period, fueled by the need for improved weather forecasting systems and solutions amid growing natural disasters and erratic rainfall patterns.

Regional Landscape

In 2023, the Asia Pacific region led the market with the largest revenue share of 29.7%. Key factors driving growth in this region include stringent regulatory norms, an increase in sea and air transportation, and the reliance on rainfall for water supply. Additionally, the rising demand for disaster management in response to various natural calamities is expected to further boost the demand for weather forecasting systems and solutions.

Meanwhile, North America also played a significant role in the market in 2023, supported by major players such as All Weather, Inc. (AWI), Campbell Scientific, Inc., Lockheed Martin Corporation, Skye Instruments Limited, and Vaisala Inc. (AWS). The region benefits from rapid technological advancements, the widespread adoption of digital services across various sectors, and early integration of the latest technologies in fields like military and defense, renewable energy, transportation, and agriculture, all contributing positively to its growth.

Recent Developments

In August 2023, NOAA upgraded its supercomputer system for weather and climate forecasting, increasing computing power and storage to improve forecast model guidance and future prediction capabilities.

In January 2023, Fujitsu introduced an advanced supercomputer for Taiwan's Central Weather Bureau, aimed at enhancing the accuracy of numerical weather predictions.

Key Takeaways

• The comprehensive overview of the Weather Forecasting Systems Market, including current trends, growth projections, and key drivers.
• It identifies lucrative investment opportunities driven by technological advancements and increasing demand for accurate weather predictions.
• The report analyzes different market segments, highlighting the fastest-growing areas and their respective drivers.
• Key regional developments and trends are discussed, offering insights into the geographical landscape of the market.

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Office No.305-B, Arissa Avenue, Fountain Road, Kharadi, Pune, Maharashtra 411014

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)