The Weather Forecasting Systems Market is estimated to generate a revenue of USD 4 billion by the end of 2031

Weather Forecasting System Market

Weather Forecasting Systems Market is estimated to generate USD 4 Billion in Revenue by 2031 growing at a CAGR of around 7% over the forecast period, i.e., 2022-2031 .

NEW YORK CITY, NEW YORK, USA, Oct. 9, 2022 /EINPresswire.com/ — Research Nester has released a report titled “Weather Forecasting System Market: Global Demand Analysis & Opportunity Outlook 2031” which provides a detailed overview of the market global weather forecasting systems market in terms of market segmentation by component type, forecast range, application, end-use, and by region.

Additionally, for the in-depth analysis, the report encompasses industry growth indicators, restraints, supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.

The global weather forecasting systems market is estimated to generate a revenue of USD 4 billion by the end of 2031 growing at a CAGR of roughly 7% over the forecast period, i.e. say 2022-2031.

The global weather forecasting system market is expected to grow with a CAGR of around 7% over the forecast period, i.e., 2022-2031. The market is segmented by end use into transportation, aviation, agriculture, energy & utilities, marine, BFSI, meteorology and weather service providers. Among these, the aviation segment is expected to grow at the highest rate during the forecast period due to the global increase in incidences of flight cancellation and delay due to weather disruptions.

The global weather forecasting system market is estimated to witness significant growth owing to the increasing use of AI for the weather forecasting process as artificial intelligence is able to study past weather patterns to predict the upcoming scenarios faster and almost as accurately as current technology.

Additionally, increasing heavy rainfall, increasing occurrences of tropical cyclones, and increasing heavy rainfall are also other major growth factors of the global weather forecasting system market.

Regionally, the global weather forecasting system market is segmented into five major regions comprising North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The Asia-Pacific market is estimated to witness significant growth over the forecast period owing to the increase in natural disaster events.

For more information on the market share of different regions: https://www.researchnester.com/sample-request-113

The research is global in nature and covers detailed analysis of the market in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, an analysis including market size, annual growth and opportunity analysis, competitive study of market players, investment opportunities, future prospect demand, etc. was also covered and displayed in the research report.

Increasing climate change to drive market growth

The National Centers for Environmental Information reported that the global surface temperature in June 2022 was 0.87°C (1.57°F) higher than the estimate for the 20th century, ranking the sixth highest record hot 143 years. Additionally, this month was 0.08°C (0.14°F) cooler than the warmest June on record, which was in 2019.

Since the human race has achieved so many good things by adopting many technologies and doing many activities for the evolution of human civilization, nature has suffered greatly. As a result, we are currently experiencing climate change and its profound influences on the earth’s atmosphere. Currently, there are more and more incidents related to natural hazards, i.e. cyclones, earthquakes, global warming, heavy rains and snowfalls, etc. Hence, such influence of climate change is expected to boost the growth of the global weather forecasting systems market.

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However, lack of effective automation, climate model complexity barriers and high installation cost of weather forecasting system are expected to act as major restraints for the growth of the global weather forecasting systems market during the forecast period.

This report also provides the existing competitive scenario for some of the major players in the global weather forecasting systems market, which includes company profiling of Skyview Systems Ltd, Columbia Weather Systems, Inc., AccuWeather, Inc., All Weather, Inc. , ENAV SpA , MORCOM INTERNATIONAL, INC., AIRMAR Technology Corp., Hoskin Scientific, Raytheon Technologies Corporation, Fugro and others. Profiling contains key business information that encompasses an overview of businesses, products and services, key financials, and recent news and developments. Overall, the report presents an in-depth overview of the Global Weather Forecasting System Market which will help industry consultants, equipment manufacturers, existing players to look for expansion opportunities, new players to look for opportunities and other stakeholders to align their market-centric strategies based on current and expected forecasts. trends in the future.

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