As stated in our extensive report; providing insights on Key Drivers, Key Restraints, Segments (i.e.,Solution, Application, Vertical, Forecast Type and Region); the Global Weather Forecasting Systems Market accounted for USD 2,318.4 Million in the year 2021.
“Key Factors Likely to Drive Growth of Weather Forecasting Systems Market”
Weather Forecasting Systems are extensively utilized in various applications that include Agriculture, Transportation, Oil & Gas, Energy & Utilities, and Aviation, among others. Constant changes in weather patterns and growing demand for technologically advanced weather forecast systems. Factors that include a growing need for accurate information about climatic patterns, growing safety concerns, and a growing need for the incorporation of large data analytics are fueling market development. In addition, increasing sea and air transportation, growing uncertainties associated with rain, and high dependency on rainfall for a regular supply of water are some factors assisting the growth of the global weather forecast system market.
Growth related to the aviation and shipping industries and the rise in safety concerns among end-use industries emphasizes the market growth. In addition, growth in the manufacturing of renewable energy fuels the increase of the market. Furthermore, technological advancements in computing systems and the increase in the transportation industry among growing areas are anticipated to provide profitable opportunities for the weather forecasting services market growth.
Weather Forecasting Systems help the industry with enhancing merchandise decisions and enhancing their distribution, warehousing, and transportation processes. Industries such as food technologies, agriculture, transportation, life science, renewable energy, and construction use these systems to boost decision making and diminish uncertainties produced due to changes in weather, such as floods, drought, or tornados. These components are poised to invigorate the growth of the market.
Asia Pacificholds the largest market share due totechnological advancements, such as improvements in data analytics and computer forecast models and an increase in the use of supercomputers delivering more computing power, which are working in favor of the market. The United States has the largest share owingto increasing competitive rivalry and the growing adoption of advanced technologies, which offer enhanced machine learning techniques and improved data analytics.
Some of the key players in the Global Weather Forecasting Systems Marketinclude-The Weather Company (US), Vaisala Oyj (Finland), DTN (US), AccuWeather Inc. (US), StormGeo (Norway), and others.