Weather Information Technologies Market Is The Next Big Thing | Fortune

Posted by Nicky Arora on January 27th, 2021

The global weather information technologies market size is estimated to reach USD 17.78 billion by 2027, registering an estimated CAGR of 8.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The increasing need for real-time weather predictions and air quality index is one of the significant factors contributing to market growth. Furthermore, the prevalence of digital transformation technologies for determining highly accurate estimations has led to numerous growth opportunities for industry players.

Over recent decades, the weather conditions have deteriorated due to extreme global warming events caused by hazardous gas emissions. This has led to an increased demand for solutions that can continuously monitor weather changes and other unforeseen activities. Ongoing advances in Information Technology (IT), coupled with communication capabilities, have led to the emergence of state-of-the-art technologies that help to examine the weather circumstances and make precise calculations. The key offerings of one of these technologies are computing thousands of algorithms on a real-time basis and assisting end-users in the preparations against critical warnings and forecasts.

The novel coronavirus outbreak has adversely affected some of the major economies owing to the ‘shelter-in-place norms’ and travel restrictions. The temporary production shutdowns during the last few months have disrupted the supply chain. World Meteorological Organization announced that there had been a sharp decrease in the amount of atmospheric data gathered regularly on account of the diminished frequency of commercial aircraft and cruises during this pandemic, thus affecting the accuracy of forecasts that are largely dependent on predictions attained by sensors mounted on the aircraft and cruises.

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Weather Information Technologies Market Report Highlights

  • The monitoring devices segment accounted for around 40.0% of the total revenue share in 2019
  • The short-range forecast segment is expected to witness the fastest growth over the forecast period
  • The weather monitoring and forecasting segment is expected to expand at the fastest CAGR from 2020 to 2027
  • In 2019, Asia Pacific accounted for the highest revenue share of approximately 35.0% of the overall market
  • The transportation segment is estimated to expand at the highest CAGR of over 10.0% from 2020 to 2027

Weather Information Technologies Market Segmentation

Grand View Research has segmented the global weather information technologies market based on component, forecast range, application, end-use, and region:

Component Outlook (Revenue, USD Billion, 2016 - 2027)

  • Communication Devices
  • Monitoring Devices
  • Software
  • Others

Forecast Range Outlook (Revenue, USD Billion, 2016 - 2027)

  • Short-range Forecast
  • Medium-range Forecast
  • Long-range Forecast

Application Outlook (Revenue, USD Billion, 2016 - 2027)

  • Air Quality Monitoring
  • Weather Monitoring & Forecasting

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Nicky Arora

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Nicky Arora
Joined: October 15th, 2019
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