The global weather information technologies market size was valued at USD 9.41 billion in 2020 and is expected to reach USD 16.7 billion with expand at a compound annual growth rate (CAGR) of 8.5% from 2020 to 2027. The rising demand for real-time monitoring and air quality check to take preliminary measures for disaster management and mitigating risk has led to phenomenal market growth.
The industry has witnessed a significant transformation from being heavily dependent on hardware to adopting advanced software for accurate results. The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies into weather information systems is expected to unfold significant opportunities for market growth over the forecast period. Uncertainty in climatic conditions can cause severe damages to the environment. The criticality of extreme climatic events recently has resulted in wildfires and unseasonal hurricanes. Weather information technologies provide predictions of the present atmospheric and weather conditions. With the help of these technologies, businesses that directly depend on weather conditions can make accurate predictions to achieve maximum ROI. The increasing emphasis on disaster management by federal governments, advancements in data gathering and processing, and lesser access to low Earth orbit have prompted established companies and start-ups to invest in the business.
The monitoring devices segment accounted for a high revenue share of around 40.0% in 2020 and is expected to continue dominating the market over the forecast period. The segment is also expected to register a higher CAGR during the forecast period. Monitoring devices are essential components of weather information solutions. These devices are corrosion-resistant and designed to withstand the harshest environments.
The weather monitoring and forecasting segment accounted for a dominant share of over 55.0% of the overall weather information technologies market in 2020. The segment is also expected to register a high CAGR over the forecast period. The weather monitoring and forecasting technique is deployed by almost every industry participant that relies on weather conditions, such as agriculture, meteorology, and transportation sectors. It has emerged as a significant method for determining future critical events and related strategic decisions to be made.
The transportation segment is held the largest revenue share of around 18.0% in 2020 and is expected to witness the fastest CAGR from 2020 to 2027. The growth can be attributed to the rapid deployment of weather information technologies in the marine, roadways, and airways sectors for analysing the favourable conditions for functioning. The aviation industry is one of its primary applications, wherein these technologies are widely used for air traffic control and coherent updates during take-off and landing. These technologies also enable real-time monitoring of air quality levels, allowing users to adopt precautionary strategies to attain human health objectives.
The medium-range forecast segment accounted for the largest revenue share of over 44.0% in 2020. Medium-range forecasts help in scenario planning and risk management to reflect likely conditions. Moreover, improvements in numeric prediction models are expected to contribute to the segment growth. The short-range forecast range offers higher accuracy for day-to-day weather event forecasts. On the other hand, long-range forecasting is preferred for determining the change in seasons for preparedness. Long-range forecasting is a significant tool for predicting erratic temperature fluctuations as a result of climate change. Moreover, improvements in numerical prediction models coupled with digitization are expected to increase the segment growth over the forecast period.
Key companies are: All Weather, Inc. (AWI); Campbell Scientific, Inc.; Columbia Weather Systems, Inc.; General Acoustics e.K.; Gill Instruments Limited; IBM; Lockheed Martin Corporation; Met One Instruments Inc.; MORCOM International; Optical Scientific, Inc.; Pulsonic; Skye Instruments Limited; The Weather Company; Vaisala
The industry has witnessed a significant transformation from being heavily dependent on hardware to adopting advanced software for accurate results. The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies into weather information systems is expected to unfold significant opportunities for market growth over the forecast period. Uncertainty in climatic conditions can cause severe damages to the environment. The criticality of extreme climatic events recently has resulted in wildfires and unseasonal hurricanes. Weather information technologies provide predictions of the present atmospheric and weather conditions. With the help of these technologies, businesses that directly depend on weather conditions can make accurate predictions to achieve maximum ROI. The increasing emphasis on disaster management by federal governments, advancements in data gathering and processing, and lesser access to low Earth orbit have prompted established companies and start-ups to invest in the business.
The monitoring devices segment accounted for a high revenue share of around 40.0% in 2020 and is expected to continue dominating the market over the forecast period. The segment is also expected to register a higher CAGR during the forecast period. Monitoring devices are essential components of weather information solutions. These devices are corrosion-resistant and designed to withstand the harshest environments.
The weather monitoring and forecasting segment accounted for a dominant share of over 55.0% of the overall weather information technologies market in 2020. The segment is also expected to register a high CAGR over the forecast period. The weather monitoring and forecasting technique is deployed by almost every industry participant that relies on weather conditions, such as agriculture, meteorology, and transportation sectors. It has emerged as a significant method for determining future critical events and related strategic decisions to be made.
The transportation segment is held the largest revenue share of around 18.0% in 2020 and is expected to witness the fastest CAGR from 2020 to 2027. The growth can be attributed to the rapid deployment of weather information technologies in the marine, roadways, and airways sectors for analysing the favourable conditions for functioning. The aviation industry is one of its primary applications, wherein these technologies are widely used for air traffic control and coherent updates during take-off and landing. These technologies also enable real-time monitoring of air quality levels, allowing users to adopt precautionary strategies to attain human health objectives.
The medium-range forecast segment accounted for the largest revenue share of over 44.0% in 2020. Medium-range forecasts help in scenario planning and risk management to reflect likely conditions. Moreover, improvements in numeric prediction models are expected to contribute to the segment growth. The short-range forecast range offers higher accuracy for day-to-day weather event forecasts. On the other hand, long-range forecasting is preferred for determining the change in seasons for preparedness. Long-range forecasting is a significant tool for predicting erratic temperature fluctuations as a result of climate change. Moreover, improvements in numerical prediction models coupled with digitization are expected to increase the segment growth over the forecast period.
Key companies are: All Weather, Inc. (AWI); Campbell Scientific, Inc.; Columbia Weather Systems, Inc.; General Acoustics e.K.; Gill Instruments Limited; IBM; Lockheed Martin Corporation; Met One Instruments Inc.; MORCOM International; Optical Scientific, Inc.; Pulsonic; Skye Instruments Limited; The Weather Company; Vaisala
- Aerospace and Defense
- Agriculture
- Automotive and Transportation
- Business and Finance
- Chemical and Materials
- Consumer Goods and Retails
- Electronics and Semiconductor
- Energy and Power
- Food and Beverages
- Machinery and Equipment
- Manufacturing and Construction
- Medical Devices
- Pharmaceuticals and Healthcare
- Service and Software
- Technology, Media and Telecommunications
- Travel and Tourism
