Global Weather Forecasting Systems & Solutions Market Analysis and Forecast to 2022 | Growth Opportunity Assessment

Princeton, NJ -- (SBWire) -- 06/07/2018 --The weather forecasting systems and solutions market is projected to grow from USD 2.68 Billion in 2017 to USD 3.80 Billion by 2022, at a CAGR of 7.21% during the forecast period from 2017 to 2022. Growing need for accurate weather predictions to carry out onshore operations, increasing demand for effective air traffic control at airports, and rising need for innovative numerical weather prediction models are the major factors expected to drive the growth of the weather forecasting systems and solutions market between 2017 and 2022.

Governments of various countries and private agencies have been investing increasingly in the development of advanced and efficient weather forecasting systems to provide alerts for storms or cyclones beforehand to ensure public safety. This further drives the growth of weather forecasting systems and solutions market.

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Based on end user, the weather forecasting systems and solutions market has been segmented into commercial, military, and weather service providers. The commercial end user segment of the weather forecasting systems and solutions market is projected to grow at a significant CAGR during the forecast period due to increasing demand for advanced weather forecasting systems from different industries, globally.

Based on component, the weather forecasting systems and solutions market has been segmented into software and hardware. The software component segment of the market is projected to grow at the highest CAGR during the forecast period of 2017 to 2022, owing to increasing adoption of data collection & processing software across the globe for highly accurate weather predictions.

Based on system type, the weather forecasting systems and solutions market has been classified into satellite-based systems, ground-based systems, and airborne systems. The ground-based systems segment is expected to lead the weather forecasting systems and solutions market during the forecast period.

The weather forecasting systems and solutions market has been studied for North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW). The Asia Pacific weather forecasting systems and solutions market is projected to grow at the highest CAGR between 2017 and 2022, owing to rapid industrialization, expansion of airports, and increasing applicability of weather forecasting systems in the agriculture sector of the region.

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Growth in air and sea transport, dependency on rainfall for water supply, improvement in the economy of the Asia Pacific region, and increased demand for continuous weather monitoring for disaster management are also driving the growth of the Asia Pacific weather forecasting systems and solutions market.

Factors such as complexity of the weather forecasting processes and weather forecasting models and uncertainty in weather predictions are expected to limit the growth of the weather forecasting systems and solutions market during the forecast period.

Vaisala (Finland), Sutron Corporation (US), Campbell Scientific (US), Airmar Technology Corporation (US), Liquid Robotics (US), All Weather, Inc. (US), Morcom International (US), Columbia Weather Systems (US), G. Lufft Mess-und Regeltechnik (Germany), and Skye Instruments (UK), among others, are the key players operating in the weather forecasting systems and solutions market. These market players are adopting the strategies of new product launches, long-term contracts, and business expansions to strengthen their position in the weather forecasting systems and solutions market. They are also focusing on enhancing their product offerings.

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