According to a new report published by UnivDatos Markets Insights, the Weather Information Technologies Market was valued at more than USD 4 billion in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Component (Communication Devices, Monitoring Devices, Software, and Others); Forecast Range (Short-range Forecast, Medium-range Forecast, and Long-range Forecast); Industry (Agriculture, Transportation, Power & Energy, Government & Defense, Meteorology & Weather Service Providers, and Others); and Region/Country.
The weather information technologies market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the weather information technologies market. The weather information technologies market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the weather information technologies market at the global and regional levels.
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Market Overview
The weather information technologies market is expected to witness a CAGR of around 8% during the forecast period. Weather information technologies provide predictions of the present atmospheric and weather conditions. Businesses that rely on the weather can use these technologies to make accurate forecasts and maximize their return on investment (ROI). Moreover, the Internet, wireless communication, digital database forecasting, next-generation workstations, and nowcasting systems are just a few of the innovations and technologies that have emerged in recent years that present an opportunity to enhance public weather services. For instance, in 2020, Microsoft Research and the University of Washington entered a collaboration and showed how artificial intelligence (AI) could analyze previous years' weather patterns to forecast future events. The information in digital databases, next-generation workstations, and newly developed and emerging information technology systems and applications offer the opportunity to further enhance and integrate the dissemination and service delivery functions of public weather services.
Some of the major players operating in the market include IBM Corporation, All Weather Inc., Campbell Scientific Inc., Columbia Weather Systems Inc., General Acoustics e.K., Gill Instruments Limited, Lockheed Martin Corporation, Met One Instruments Inc., Optical Scientific Inc., and Vaisala
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Travel limitations such as decreasing the frequency of flights and cruises lower the accuracy of meteorological information. The weather information technologies market has been significantly affected during these times owing to the use of vehicles reduced during the COVID-19 situation, which led to a decline in the growth of this market.
The Global Weather Information Technologies Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of the forecast range, the weather information technologies market is categorized into the short-range forecast, medium-range forecast, and long-range forecast. Among these, the short-range forecast holds a significant share of the market in 2020. Short-range forecasts for periods on the order of hours to days and up to two weeks ahead are necessary to smoothly run transmission and distribution systems, plan maintenance, protect infrastructure and allocate units. These major factors will contribute to the growth of the market.
· Based on industry, the weather information technologies market has been classified into agriculture, transportation, power & energy, government & defense, meteorology & weather service providers, and others. The transportation category is expected to have significant growth during the forecast period. This is mainly due to the rising demand for the weather information technologies because the weather is one of the major reasons for aircraft operations to be delayed, particularly in the mid-latitudes where widespread thunderstorms and very low visibility are more common during bad weather.
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Weather Information Technologies Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the weather information technologies market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the large population and high demand for weather information technologies in various fields such as agriculture, defense, media, and transportation in the region. For instance, in 2021, the ZOGLAB fully automatic wind tunnel equipment was chosen to build the China Meteorological Administration's provincial metrology laboratory. Furthermore, technological advancements in computing systems and a rise in the transport industry among developing nations are expected to drive the growth of the market during the forecast period.
The major players targeting the market include
· IBM Corporation
· All Weather Inc.
· Campbell Scientific Inc.
· Columbia Weather Systems Inc.
· General Acoustics e.K.
· Gill Instruments Limited
· Lockheed Martin Corporation
· Met One Instruments Inc.
· Optical Scientific Inc.
· Vaisala
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the weather information technologies market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the weather information technologies market?
• Which factors are influencing the weather information technologies market over the forecast period?
• What are the global challenges, threats, and risks in the weather information technologies market?
• Which factors are propelling and restraining the weather information technologies market?
• What are the demanding global regions of the weather information technologies market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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