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Weather Information Technologies Market: Current Analysis and Forecast (2022-2028)
Emphasis on Component (Communication Devices, Monitoring Devices, Software, and Others); Forecast Range (Short-range Forecast, Medium-range Forecast, and Long-range Forecast); Industry (Agriculture, Transportation, Power & Energy, Government & Defense, Meteorology & Weather Service Providers, and Others); and Region/Country
Global weather information technologies are expected to grow at a significant rate of around 8% during the forecast period. Weather information technology uses various types of tools such as radiosondes, satellite data, supercomputers, and doppler radar. There are four types of weather information technology which are large range, medium range, short range, and hazardous. The rising application of advanced weather forecasting systems in industries such as transportation, agriculture, industrial, transportation, power & energy, government & defense, and aviation for predictions of the present atmospheric and weather conditions will drive the growth of the weather information technology market during the forecast period. In addition, various government organizations and NGOs are adopting weather forecasting for improving the loss suffered owing to natural disasters, the pandemic situations and to improve their weather information services. For instance, an aviation weather monitoring system was launched by Bangalore-based CSIR-National Aerospace Laboratories (NAL) and deployed at Bengaluru’s Kempegowda International Airport in 2020 for improved airport operations.
IBM Corporation, All Weather Inc., Campbell Scientific Inc., Columbia Weather Systems Inc., General Acoustics e.K., Gill Instruments Limited, Lockheed Martin Corporation, Met One Instruments Inc., Optical Scientific Inc., and Vaisala. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst component, communication devices category to witness robust CAGR during the forecast period”
Based on components, the market is segmented into communication devices, monitoring devices, software, and others. The communication devices category is set to witness a higher CAGR during the forecast period due to the growing demand for advanced weather forecasting systems from different industries such as defense, transportation, etc. In addition, climate change has increased the significance of weather and climate risk management in the agriculture sector in recent years.
“Amongst industry, the transportation to hold a significant share in the market in 2020”
On the basis of industry, the market is categorized into agriculture, transportation, power & energy, government & defense, meteorology & weather service providers, and others. Among these, transportation to hold a significant share in the market in 2020. This is mainly due to the increased demand in aerospace applications such as continuous weather updates and air traffic control, the market for weather information technologies has gained traction. Furthermore, rising road accidents due to bad weather are also major factors in the growth of the market. For instance, according to the U.S. Department of Transportation, on average, there are over 5,891,000 vehicle crashes each year. Approximately 21% of these crashes are weather-related.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the weather information technologies market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising investment in meteorology and the increasing demand for weather-related information in the region is expected to propel the market during the forecast period. For instance, in October 2021, the ZOGLAB fully automatic wind tunnel equipment was chosen to build the China Meteorological Administration’s provincial metrology laboratory. This is due to the growing agriculture sector’s use of the metrological device for climate change.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global weather information technologies can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Content
Research Methodology for the Weather Information Technologies Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of global weather information technologies were the three major steps undertaken to create and analyze the adoption of weather information technologies in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global weather information technologies. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the weather information technologies through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the weather information technologies, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as a component, forecast range, and industry. Further country-level analyses were conducted to evaluate the overall adoption in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of weather information technologies. Further, we conducted factor analysis using dependent and independent variables such as various components, forecast range, and industries of weather information technologies. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the weather information technologies sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global weather information technologies, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the weather information technologies across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in global weather information technologies in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global weather information technologies. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, forecast range, and industry in global weather information technologies.
The main objective of the global weather information technologies Study
The current & future market trends of global weather information technologies were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of weather information technologies in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the component, forecast range, and industry.
- Define and analysis of the regulatory framework for the weather information technologies
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the weather information technologies for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the weather information technologies and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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