The global weather information technology market is expected to reach the valuation of USD 10,935.8 million in 2024. According to the analysis, the industry is projected to grow at a CAGR of 7.5% from 2024 to 2034 with global adoption of digital solutions. The industry is foreseen to surpass USD 22,491.8 million, which shows the growth in the industry through 2034.
Advanced weather technology is really crucial in predicting and preparing for natural disasters and extreme weather condition. It uses satellites, computer programs, and sensors to help governments and industries to tackle natural disasters. This is very useful for agriculture, transportation, and emergency services as it helps them plan and handle bad weather.
Having precise weather data is really important for studying long-term climate changes and making decisions about policies. It's also crucial for planning how cities are built so they can handle extreme weather. With the unpredictable climate these days, good weather technology helps keep people, property, and economies safe from serious damage, which makes it a really important tool for risk management.
Global Weather Information Technology Market Assessment
| Attributes | Description |
|---|---|
| Historical Size, 2023 | USD 10,243.7 million |
| Estimated Size, 2024 | USD 10,935.8 million |
| Projected Size, 2034 | USD 22,491.8 million |
| Value-based CAGR (2024 to 2034) | 7.5% CAGR |
Weather technology has many benefits. It helps keep people safe by giving early warnings for things like hurricanes, floods, and wildfires. This can save lives and prevent damage to property. It provides real-time weather data to farmers for helping in planting and harvesting crops. This results in better crop yields while saving water and resources.
Better route planning in transportation, improved safety for air and sea travel, and increased energy production in renewable sectors all depend on accurate weather forecasts. This helps people and businesses plan their activities more efficiently and enables societies to respond better to weather and climate challenges.
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This below table presents the expected CAGR for the Global weather information technology market over several semi-annual periods spanning from 2023 to 2033. In the first half (H1) of the year from 2023 to 2033, the industry is predicted to surge at a CAGR of 7.5%, followed by a slightly lower growth rate of 6.9% in the second half (H2) of the same year.
| Particular | Value CAGR |
|---|---|
| H1, 2023 | 7.5% (2023 to 2033) |
| H2, 2023 | 6.9% (2023 to 2033) |
| H1, 2024 | 7.3% (2024 to 2034) |
| H2, 2024 | 7.7% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to hold at 7.3% in the first half from 2024 to 2034 and considerably increase at 7.7% in the second half 2024 to 2034. In the first half (H1) 2024 to 2034 the market witnessed a decrease of 20 BPS while in the second half (H2) 2024 to 2034 the market witnessed an increase of 80 BPS.
Growing Need for Disaster Management
Advanced weather technology provides early warnings and accurate predictions, so people and organizations can get ready for disasters. It looks at current weather data to help save lives and property by allowing timely evacuations and getting help where it's needed.
For governments and emergency response agencies, weather technology helps them make better decisions. It uses accurate forecasts to send help where it's needed most, like medical aid and shelter supplies. This helps reduce the impact of disasters and speed up recovery.
Industries like agriculture, energy, and transportation also benefit from better weather information. For example, power companies can use predictive weather models to avoid big outages, while farmers can protect their crops from bad weather.
Logistics companies can also avoid delays caused by disrupted transportation routes. Climate change is also affective weather patterns, showcasing emergence of strong disaster management systems that utilized accurate weather data. Businesses and governments are investing heavily in weather technology to secure communications.
Advancements in Satellite and Sensor Technology
New satellites with advanced sensors take lots of real-time weather information like temperature, humidity, and air pressure. They can also take clear pictures of clouds, storms, and other weather stuff. This helps scientists see patterns and predict bad weather better. Besides satellites, new ground-based sensors have helped make weather data more precise.
These sensors can measure things like wind speed and soil moisture really accurately. When data from satellites and sensors are combined, it makes weather predictions better. This helps industries like farming, flying, and disaster planning make better decisions using more accurate weather information.
Also, using AI and machine learning to process all this data helps us keep an eye on the weather and warn people early. When satellites and sensors work together with this technology, it helps governments and industries lessen the impact of bad weather on people and money.
This is a big reason why weather technology is becoming more important. It helps us meet the growing need for accurate and timely weather data in a world that cares more about the climate.
Data Accuracy and Reliability Challenges
The weather technology market faces challenges with data accuracy and reliability. Inaccurate data can lead to wrong forecasts, affecting user trust. Weather models need lots of historical and real-time data, but there are gaps in sensor coverage, especially in remote areas.
Incomplete or wrong data can mess up predictive models, resulting in unreliable weather forecasts. This can have serious impacts on industries like agriculture, aviation, and logistics that rely on accurate weather information.
Weather data is highly dynamic and changes quickly in unpredictable natural landscape. Little bit of inaccuracies in temperature or wind speed measurements can cause deviations in weather models. This makes it challenging for vendors to deliver consistently accurate forecasts, which limits the effectiveness of these solutions and services.
Repeated inaccuracies can diminish the users trust in these systems. Additionally, maintaining high standards of accurate data require continuous investment in technology and infrastructure. This also restrains the market growth.
Principal Consultant
The weather information technology market went through notable fluctuations and technological advancements in the historical period. The industry was valued at a valuation of USD 7,896.3 million in 2019 to reach USD 10,243.7 million in 2023 with a CAGR of 6.7% from 2019 to 2023.
During pandemic, the demand of weather information technology went down due to worldwide restrictions and pause in various industries. These demands started to rise from 2021, with the continuation of businesses in the normal manner.
Weather forecasting services market witnessed a considerable growth during the forecasting period between 2024 and 2034. The market reached the valuation of USD 22,491.8 million in 2034 from USD 10,935.8 million in 2024 with the CAGR of 7.5%.
With rise in uncertainties towards sudden weather changes, the demand of weather information technology is expected to rise further. The vendors in the market are using emerging technologies in order to provide as much as reliable forecasts.
Tier 1 companies in the market are major vendors with partnerships with governments and associations to provide needed forecasting services. These vendors provide wide range of weather information technology solutions equipped with modern technologies. The vendors in bracket hold market share around 40%-45% globally. These vendors include AccuWeather, Inc., Lockheed Martin Corporation, The Weather Company among more.
Tier 2 vendors in the global weather information technology market hold decent amount of market share, but lesser in comparison with tier-1 vendors. These vendors focus on research and development to innovate technologies to increase their market share. These vendors include Met One Instruments, Coastal Environmental Systems among others and hold around 25%-30% market share.
Tier 3 companies represent 30% to 35% of share of total weather information technology industry. These vendors focus on providing industry specific or personalized weather information technology solutions. The vendors in the tier include Morcom International, Skye Instruments among others.
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The below country-wise market analysis of the weather information technology explains the recent developments and different government approaches in the market. The analysis also gives an idea of the country’s expected progress in the market landscape.
The data describes key highlights, growth factors, and CAGRs of these countries.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| India | 9.4% |
| China | 8.4% |
| USA | 7.7% |
| Germany | 6.8% |
Extreme weather like floods, cyclones, and heatwaves is happening more often. This is making industries and governments use better weather tools. This is very important for farming in India. Good weather information helps farmers decide when to plant and harvest, use water well, and protect crops from bad weather.
The growth of mobile internet and digital tools has made the market expand even more. Farmers and others can now get weather updates from apps, text messages, and websites, making weather information more widely available.
Many startups and tech companies in India are creating new solutions such as very specific weather predictions and using AI and machine learning to analyze data. These technologies are important for making real-time data more accurate and providing detailed forecasts that are customized for specific local areas.
China has improved its weather systems using advanced technology like AI, big data, and remote sensing. By using satellites and weather drones, they can gather more detailed and real-time information about the weather. Chinese companies are making high-tech weather tools and software, and the country's focus on smart cities and infrastructure projects has increased the need for accurate weather data for urban planning and disaster management.
Large investments are being made in China's meteorological infrastructure by the government. This includes launching new weather satellites and using complex models to predict the weather. For instance, FENGYUN-3F satellite was launched from Jiuquan Satellite Launch Center on August 3, 2023.
The National Oceanic and Atmospheric Administration (NOAA) has signed contracts worth USD 8 million to buy GPS radio occultation weather data. This data makes weather models used for forecasting much more accurate. Also, NOAA is looking at proposals for new projects under a funding program that could give up to USD 2 million each year to improve weather forecasting tech and methods.
Technologies like AI and hyper-localized forecasting has become more common. Companies are teaming up with digital platforms like The Trade Desk to use up-to-the-minute weather data for more exact digital ads. This shows how these new developments can be used in business also.
The below section provides the category wise insights in the market with recent developments and future projections.
Weather information technology systems empowers businesses and governments to derive insights to face disasters and be prepared for uncertain climate conditions.
| Segment | Weather Information Technology Systems (Solutions) |
|---|---|
| Value Share (2024) | 61.5% |
Take China's weather service as an example. In 2023, they made their medium-range forecasts better by using new statistical models and high-performance computers. This upgrade has made their predictions more reliable. This matters a lot for farmers, who need to know what the weather will be like a week or so ahead. It helps them decide when to plant crops or water them, which means they lose fewer crops to surprise weather changes.
Precise weather predictions play a key role in flight planning, route optimization, and reducing weather risks. These risks include turbulence, lightning strikes, and big storms that can delay or cancel flights causing big money losses.
| Segment | Aviation (Industry) |
|---|---|
| Value Share (2024) | 27.4% |
To illustrate, Supernal LLC, a part of Hyundai Motor Group, put money into TruWeather Solutions in 2023. The goal was to use smart weather data in their electric aircraft that can take off and land straight up and down. This team-up aims to make urban air travel-a fast-growing part of flying-safer and more efficient.
In the weather information technology market, there is competition from big global companies, specialized regional providers, and new startups. The big companies have a strong hold with their advanced technology and wide-ranging forecasting solutions for different industries.
These vendors often use cutting-edge tech like AI, machine learning, and satellite data to stay ahead of the game. On the other hand, specialized regional providers emphasize niche markets or local needs offering custom services that meet specific geographic or industry demands. Startups bring fresh ideas and quick changes bringing in new tech and methods often shaking up old-school models with super-local forecasts and all-in-one digital solutions.
Recent Market Developments
The industry includes Weather Information Technology Systems and Weather Information Technology Services.
Air Quality Monitoring, Weather Monitoring, Weather Forecasting and Others are segmented in this category.
Agriculture, Transportation, Marine, Aviation, Military & Defense, Utilities and Others are segmented in this category.
A regional analysis has been carried out in key countries of North America, Latin America, East Asia, South Asia & Pacific Western Europe, Eastern Europe and Middle East and Africa (MEA).
The global industry is set to reach USD 10,935.8 million in 2024.
Demand is predicted to rise at 7.5% CAGR.
Global sales are estimated to total USD 22,491.8 million by 2034.
South Asia & Pacific is set to offer lucrative opportunities rising with a CAGR of 8.7%.
AccuWeather, Inc., Sutron Corporation, Coastal Environment Systems, Met One Instruments, The Weather Company among others.
Services and Utilities
November 2022
REP-LA-251
250 pages
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Weather Information Technology Market
