Demand for Weather Information Technologies and Impact of COVID-19……..
Posted by Mrudula Anil Karmarkar on February 7th, 2022
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.
The rising demand for real-time monitoring and air quality check to take preliminary measures for disaster management and mitigating risk has led to phenomenal market growth. The industry has witnessed a significant transformation from being heavily dependent on hardware to adopting advanced software for accurate results. The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies into weather information systems is expected to unfold significant opportunities for market growth over the forecast period.
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The outbreak of the COVID-19 pandemic has restructured the market\'s capabilities with various imposed regulations. One of these was travel restrictions, which limited the frequency of aircraft and cruises, thereby reducing the accuracy of weather information. According to the National Oceanic and Atmospheric Administration (NOAA), the data collected via commercial cruises and flights have declined by 75% in the U.S. However, the market participants are launching Radiosondes, which are battery-powered air balloons, as an alternative for data collection from the atmosphere. This challenge has imperiled the market; however, weather information technologies have still managed to attain accurate predictions with surface system technologies.
Weather Information Technologies Market Report Highlights
The market has lately attained increased visibility and companies have recently started expanding into the weather information technologies business with the availability of Unmanned Aerial Vehicle (UAVs) and drones, wearables, and data processing systems. The market is dominated by various global and regional market players that are continually thriving to attain a competitive edge over their counterparts. Mergers and collaborations with software providers are some of the key strategies undertaken by the market participants to develop novel solution offerings. For instance, National Oceanic and Atmospheric Administration collaborated with Spire, a data analytics start-up that has launched a fleet of satellites for tracking aircraft and ships to attain one, three, and five-day forecasts with the radio occultation soundings collected.
Obtaining accurate weather data has become a matter of concern for industries that heavily rely on atmospheric conditions. The major players in this industry are continuously upgrading their product portfolio with upgraded monitoring and communication components to enable end-users with quick and exact predictions. For instance, The Weather Company, a part of IBM Corporation, offers tailored solutions for different industries. The company has incorporated advanced analytics solutions to offer real-time insights accurately to multiple users at one time. Some of the prominent players in the weather information technologies market include:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
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