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(Transportation-News.com, September 19, 2019 ) The weather forecasting systems market is estimated to be USD 2.3 billion in 2019 and is projected to reach USD 3.3 billion by 2025, at a CAGR of 5.7% from 2019 to 2025.
The weather forecasting systems market report provides an analysis of the market from 2019 to 2025. It discusses the prevailing industry and technology trends, along with the drivers, restraints, challenges, and opportunities. The market is projected to grow from USD 2.3 billion in 2019 to USD 3.3 billion by 2025, at a CAGR of 5.7% during the forecast period. The market in the Asia Pacific is projected to grow significantly during the forecast period, especially in countries such as Japan, India, and China. Growth is attributed to the agriculture industry, as it is one of the largest and most significant industries in the region. In addition, there are various meteorological agencies in the region, such as the Japan Meteorological Agency (Japan), China Meteorological Administration (China), Indian Meteorological Department (India), and Bureau of Meteorology (Australia), among others that have been continuously undertaking efforts to enhance their weather forecasting systems to enable better prediction and management of natural calamities.
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Based on vertical, the renewable energy segment is projected to grow at the highest CAGR during the forecast period, owing to the high dependence of power generation from renewable sources on weather conditions. Power generation from renewable sources, such as wind and water is highly dependent on weather conditions. Weather forecasting systems play a crucial role in designing optimal offshore wind turbine capacities, depending on climatic conditions.
Based on application, the weather drones segment is projected to grow at the highest CAGR during the forecast period. Need for real-time information about humidity and pressure at high altitudes is expected to boost the growth of the market. These also provide required data about the moisture content in the air, the direction and speed of winds, and turbulence at high altitudes.
Based on solution, the weather forecasting software segment is projected to grow at the highest CAGR during the forecast period. The use of open-source software for weather forecasts enables continuous improvements in the accuracy and timeliness of weather forecasts. Increasing need for weather analytics solutions through big data analytics and supercomputing is expected to drive the growth of the market during the forecast period.
Based on forecast type, the long-range segment is projected to grow at the highest CAGR during the forecast period. The increasing need for long-range forecasts from the agriculture, aviation, marine, and military sectors to plan day-to-day operations is expected to fuel market growth.
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Based on region, the weather forecasting systems market has been segmented into 5 regions, namely, North America, Europe, Asia Pacific, Middle East, and Rest of the World. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. However, the market in Middle East is expected to grow significantly due to the rise in technological developments in the weather forecasting systems being manufactured in the region.
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