The most recent study conducted by Report Ocean, titled “Global Weather Information Technologies Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Weather Information Technologies . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Weather Information Technologies Market is valued approximately USD 9.41 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.5 % over the forecast period 2020-2027. Weather information technologies include various communication and monitoring devices as well as software which accurately detect the upcoming events or any climatic or weather changes. This technology is widely used for getting real time result and also checks air quality to take preliminary measures for disaster management and mitigating risk.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies into weather information systems coupled with surging penetration of smart phones and other consumer wearable devices for getting real-time result are the few factors responsible for growth of the market over the forecast period. For instance: as per Statista, the 65% of Brazilian population used smartphone in 2019 and is anticipated to rise to 75% of smartphone penetration in Brazil by 2025. Also, the number of smart phone users in Mexico was 76.99 million in 2019 and is expected to grow to 95.22 million smartphone users in 2025.
Also, as per Statista, the global smart phone penetration rate was 33.5% in 2016 and raised to 44.9% in 2020. Similarly, according to Statista, the total installed Internet of Things (IoT) connected device was 23.14 billion in 2018 and is projected to rise by 75.44 billion worldwide by 2025. However, dynamic nature of atmospheric variables and high chances of inaccuracies is the major factor restraining the growth of global Weather Information Technologies market during the forecast period.
The regional analysis of global Weather Information Technologies market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the increasing demand from End-Use industries as well as rising government investments in commercial solutions, apart from their privately launched satellites.
Major market player included in this report 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.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Communication Devices
Monitoring Devices
Software
Others
By Forecast Range:
Short-range Forecast
Medium-range Forecast
Long-range Forecast
By Application:
Air Quality Monitoring
Weather Monitoring & Forecasting
By End-Use:
Agriculture
Industrial
Transportation
Power & Energy
Government & Defense
Meteorology & Weather Service Providers
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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