Weather Monitoring System Market Scope and Analysis by 2031
The weather monitoring system (WMS) market size is projected to reach US$ 4.12 billion by 2031 from US$ 2.22 billion in 2023. The market is expected to register a CAGR of 8.1% during 2023–2031. The increasing use of weather forecasting to enable disaster management and rising demand for weather forecasting in the aviation industry are likely to be key trends and drivers in the weather monitoring system market.
Weather Monitoring System Market Analysis
The weather monitoring system market is experiencing substantial growth globally. This growth is attributed to the climate-changing pattern leading to uncertainties in the weather and the increasing use of weather forecasting to enable disaster management. Moreover, rise in the production of renewable energy, increasing computing capabilities of supercomputers for weather forecasting and increasing penetration of IoT-based WMS.
Weather Monitoring System Market Overview
The continuous or periodic surveillance or analysis of the state of the climate and atmosphere, including variables such as temperature, moisture, wind velocity and barometric pressure. Further, temperature and humidity sensors are the most frequently used weather sensors. They can be utilized to calculate a heat index, understand whether plants are at risk of damage from too much or figure out if it's safe to work in a given area.
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Weather Monitoring System Market: Strategic Insights
Market Size Value in US$ 1,746.47 million in 2021 Market Size Value by US$ 2,932.92 million by 2028 Growth rate CAGR of 7.7% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Weather Monitoring System Market: Strategic Insights
| Market Size Value in | US$ 1,746.47 million in 2021 |
| Market Size Value by | US$ 2,932.92 million by 2028 |
| Growth rate | CAGR of 7.7% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Weather Monitoring System Market Drivers and Opportunities
Increasing Demand for Weather Forecasting to Enable Disaster Management to Favor Market
Increasing demand for weather forecasting to enable disaster management is indeed a driver for the weather monitoring system market. Weather monitors/stations serve as critical tools in disaster preparedness and response. By providing accurate and timely weather data, these monitors empower individuals, communities, and authorities to plan, mitigate risks, and efficiently respond to catastrophes. Weather stations act as the bridge between meteorological observations and disaster management, fostering safer and more resilient societies. As technology continues to advance, embracing innovative approaches and integrating new capabilities will strengthen the role of weather stations in the future of disaster management. Thus, considering the above parameters, the increasing use of weather forecasting to enable disaster management is acting as one of the drivers for the weather monitoring system market growth.
Development of wind turbines and solar panels to generate renewable energy.
A WMS is one of the key components in a solar power plant. Its function is to collect data on weather parameters such as module surface temperature, solar radiation, ambient temperature, wind speed etc., at any solar PV site, which assists in monitoring the efficiency and performance of the power plant. The further analysis of this data w.r.t the plant output helps to analyze and improve the performance of the plant. Moreover, for the weather data measurement of the wind power station, the weather station based on SmartSolo data logger is installed on the permanent weather tower to measure the wind speed and direction at two heights, as well as the temperature, relative humidity and air pressure. Thus, owing to the above parameters, the development of wind turbines and solar panels to generate renewable energy is anticipated to hold several opportunities for the weather monitoring system market in the coming years.
Weather Monitoring System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Weather Monitoring System market analysis are component and application.
- Based on component, the weather monitoring system market is divided into hardware and software. The hardware segment is anticipated to hold a significant market share in the forecast period.
- By application, the market is segmented into metrology, energy & power, transportation, aviation, and others. The metrology segment is anticipated to hold a significant market share in the forecast period.
Weather Monitoring System Market Share Analysis by Geography
The geographic scope of the weather monitoring system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the weather monitoring system market. The North America market is segmented into US, Canada, and Mexico. High technology adoption trends in various industries in the North American region have fuelled the growth of the weather monitoring system market. Factors such as increased adoption of digital tools, high technological spending by government agencies and the climate-changing pattern in the region are leading to uncertainties in the weather, and the increasing use of weather forecasting to enable disaster management is expected to drive the North America weather monitoring system market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of weather monitoring system market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the weather monitoring system market.
Weather Monitoring System Market Report Scope
Weather Monitoring System Market News and Recent Developments
The weather monitoring system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the weather monitoring system market are listed below:
- A SpaceX Falcon 9 rocket on April 11 launched a U.S. Space Force weather monitoring satellite. (Source: SpaceX Company Website, April 2024)
- The Indian Space Research Organisation (Isro) successfully launched INSAT-3DS, a weather monitoring and disaster warning satellite. The satellite was launched atop the GSLV-F14 rocket from Sriharikota. (Source: ISRO, Press Release, February 2024)
Weather Monitoring System Market Report Coverage and Deliverables
The “Weather Monitoring System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Weather monitoring system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Weather monitoring system market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis.
- Weather monitoring system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the weather monitoring system market.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the weather monitoring system market is 8.1%.
The global weather monitoring system market is expected to reach US$ 4.12 billion by 2031.
The increasing penetration of IoT-based WMS is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global weather monitoring system market are Vaisala, Trinity Touch, Trafitek Solutions Private Ltd., Telegrafia a.s, Boltek Lightning Detection Systems, Free Spirits Green Labs Pvt Ltd, NVIS Technologies Pvt Ltd, Aeron Systems Private Limited, Logics PowerAMR Pvt Ltd, Baron Services, Inc.
The increasing use of weather forecasting to enable disaster management and rising demand for weather forecasting in the aviation industry are some of the factors driving the weather monitoring system market.
North America is anticipated to dominate the weather monitoring system market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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