The global weather information technology market is expected to be valued at US$ 4,772.7 Mn in 2022, and to grow at a CAGR of 6.1% to reach US$ 7,216.3 Mn by 2029.
New correspondence organizations and figure frameworks, for example, advanced database determining, nowcasting frameworks, remote correspondence, and others, are emerging and providing opportunities to work on Public Weather Services (PWS).
Meteorologists are creating visuals from weather radar and determining models, as well as assisting watchers in planning for future storms, using technology such as augmented reality.
“Weather information via mobile apps and websites, as well as the promotion of commercial applications such as hyper-local forecasting, stunning weather virtualization, and smart notification in APEJ, are opening doors for global players.”
Increasing Environmental Observations and Weather Information Technology Monitoring Drive Market Growth
Weather prediction is being fueled by various technological trends that are changing all areas of the market. Modeling and forecasting advances, cloud, big data and analytics, smart devices, and mobile computing are fueling service delivery innovation.
The rapid proliferation of personal weather stations and smart connected devices has increased the amount of data available for weather observation and monitoring, potentially improving the accuracy of hyperlocal weather forecasts. As a result, the adoption of monitoring and environmental observations is propelling the weather information technology market forward.
For example, in March 2021, the Lockheed Martin Corporation successfully launched the GOES-17 Satellite, which will provide meteorologists with broad coverage and powerful new weather monitoring technology. This satellite will continue to produce dazzling weather data that has captured forecasters’ attention.
More Insights into the Weather Information Technology Market
To assist readers in understanding and profitably evaluating opportunities, FMI’s report on the weather information technology market is divided into six major sections: solutions (systems, and services), applications (air quality monitoring, weather monitoring, weather forecasting, and others (chemical & space weather monitoring)), industry (utilities, agriculture, military & defense, transportation, marine, aviation, and others (mining, energy utilities, chemicals)), and region.
Competitive Environment
Weather information technology providers are constantly focusing on product cost reduction and service improvement by implementing various strategies such as product innovation, partnership, acquisition, and geographical expansion. Key players are expected to strengthen their global market presence and develop advanced weather forecasting technologies with these strategies.
