Press release
Weather Forecasting Systems Market Expected to Reach USD 3.87 Billion by 2030 with a CAGR of 5.47% from 2020 to 2030
Weather Forecasting Systems Market InsightsWeather Forecasting Systems Market Size is Projected to reach USD 3.87 billion by 2030, registering a CAGR of 5.47% during 2020-2030.
The weather forecasting systems market refers to the global market for technologies, products, and services used to forecast weather conditions. This includes weather satellites, weather radars, weather balloons, computer models, and other related technologies used by meteorologists, government agencies, and private companies to predict weather patterns and provide weather forecasts.
The COVID-19 pandemic has had a mixed impact on the weather forecasting systems market. On the one hand, there has been an increased demand for weather forecasting services as businesses and governments seek to manage the impact of extreme weather events such as hurricanes and floods. On the other hand, the pandemic has disrupted supply chains and manufacturing processes, leading to delays and disruptions in the production and distribution of weather forecasting equipment. The key drivers of the weather forecasting systems market include increasing demand for more accurate and reliable weather forecasts, and the growing use of weather forecasting technologies in agriculture, aviation, and transportation. The main restraining factors of the weather forecasting systems market include high costs of weather forecasting technologies, the complex and technical nature of weather forecasting,
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Key Players
Some of the key players are in the weather forecasting systems market include Oxley Developments Company Ltd, Astronics, Orion Energy Systems, Inc., Carmanah Technologies Corporation, Zumtobel AG, Dialight PLC, Revolution Lighting Technologies, Laminators technologies, United Technologies, Lunar Lighting, Honeywell, Acuity Brand Lighting, Osram Licht AG, Cree Inc., Larson Electronics, Deco Lighting, Cooper Industries PLC, and G.E. Lightings.
Market Segmentation
The weather forecasting systems market can be segmented based on the solutions, forecast type, and application. Based on the solutions, the market can be segmented into Hardware [Anemometers, Barometers, Rain Gauges, Hygrometers, Thermometers, Sounding Systems & Radiosondes, Communication & Data Loggers, Satellite Sensors, Sounding Systems & Radiosondes, Windvanes and Ceilometers] and Software [Weather Monitoring & Display Software, Data Collection & Processing Software, Supercomputing, Big Data Analytics and others]). Based on the forecast, the market can be segmented into Nowcast, Short-Range, Medium-Range, Extended-Range and Long-Range. Based on application, the market is segmented based on weather satellites, weather observing systems, weather station, weather drones, weather balloons, weather LiDAR, weather radar, and others.
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Regional Analysis
North America accounted for the largest market share since the region is home to companies such as Vaisala, a global leader in weather and environmental measurements. The region is home to a large number of developing countries, such as China and India, which are investing heavily in weather forecasting technologies to improve their disaster response capabilities. In Latin America, Brazil and Mexico dominated the market due to increased demand for advanced weather forecasting.
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