Global Weather Forecasting Equipment Market

Date: 30 September 2019

According to a research report published by Azoth Analytics in September 2019, the Global Weather Forecasting Equipment Market was valued at USD 3.9 billion in the year 2018. 
Prime factors responsible for growing demand of Weather Forecasting Equipment is the necessity of more prudent weather forecasting and analysis systems by governments to avoid causalities and damage from natural disasters. Additionally, need for weather forecasting equipment in agriculture sector is required to analyse the weather conditions for crop cultivation and make decisions accordingly. Governments, NGO and private sector is positively spending in making their weather forecasting system more powerful.  Moreover, the leading companies are actively engaged in launching innovative products to gain competitive edge over other players, which is also propelling the market.

Weather forecasting systems help enterprises in improving trading decisions and enhancing their distribution, warehousing, and transportation processes. Industries for instance food technologies, agriculture, transportation, life science, renewable energy, and construction use these systems for improving decision making and reducing uncertainties caused due to changes in weather, such as floods, drought, or tornados. These factors are expected to stimulate the growth of the market in forecast period.

Weather forecasting technologies and systems help in measuring weather conditions and monitoring air to estimate the air quality. However, issues such as complexities in weather forecasting processes and models are estimated to hamper the industry growth. Besides any restraining factor, improvements in the economic conditions of the Asia Pacific region and increasing concerns regarding safety and security are anticipated to be driving factors for the market growth.

Asia Pacific is the largest market for weather forecasting equipment which accounts for around 37% of the global value. Rapid advancements in weather sensing technology and cellular communications have enabled the expansion of weather forecasting system. Additionally, rapid expansion in the aviation sector of several developing economies is propelling the market.