The global weather forecasting systems market size is expected to reach USD 4.40 Billion by 2030 according to a new study by Polaris Market Research. The report “Weather Forecasting Systems Market Share, Size, Trends, Industry Analysis Report, By Solution (Hardware, Software); By Application: By Vertical; By Forecast Type (Nowcast, Short-range, Medium range, Extended range, Long-range); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising market demand for continuous weather monitoring to enable disaster management and the increased safety and security concerns from sudden climate changes are boosting the market growth during the forecast period. Weather service providers and military forces widely use weather forecasting systems to collect information about the climate and environment of specific locations by utilizing data provided by various sensors.
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Weather forecasting solutions play a vital role in sensitizing the climate department and public officials about poor climate conditions such as cyclones, severe climate, heavy rainfall, and environmental catastrophes to take necessary actions ahead of time to save people's lives. These solutions are widely used in the military sector to continue providing climate updates while also conducting military operations and removing the risk to critical processes.
Based on the forecast type, the short-range segment accounted for the leading share in the market. Current forecasting models include dynamic prediction models based on compacted mechanics applied to the atmosphere. Normal range forecasting gives detailed data required for climate prediction in application areas such as aerospace and ship routing. Short-term forecasts are based on climate charts, maps, satellite images, climate balloons, and floor data. The information given is being used for climate prediction and other application domains such as aviation, ship routing, etc.
Market players such as AccuWeather, Inc., All Weather, Inc. (AWI), Airmar Technology Corp., Campbell Scientific, Inc., Gill Instruments Limited, Columbia Weather Systems Inc., Honeywell International, Inc., Lockheed Martin Corporation, IBM Corporation, Met One Instruments Inc., MeteoGroup, Munro Instruments Limited, MORCOM International, Raytheon Company, Skye Instruments Limited, Sutron., and Vaisala are some key players operating in the global market. In September 2021, DeepMind, Google's artificial intelligence (AI) arm, established a system that allows forecasters to determine the probability of rain within the next several hours with much greater precision.
Polaris market research has segmented the weather forecasting systems market report based on solution, application, vertical, forecast type, and region:
Weather Forecasting Systems, Solution Outlook (Revenue - USD Billion, 2018 - 2030)
Weather Forecasting Systems, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Weather Forecasting Systems, Forecast Type Outlook (Revenue - USD Billion, 2018 - 2030)
Weather Forecasting Systems, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Weather Forecasting Systems, Regional Outlook (Revenue - USD Billion, 2018 - 2030)