Redding, California, Jan. 26, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Weather Monitoring Systems Market by Component (Solutions, Services), Monitoring Type (Temperature Monitoring, Humidity Monitoring, Air Quality), End-use Industry (Agriculture, Transportation), and Geography - Global Forecast to 2030,’ the weather monitoring systems market is expected to reach $4.49 billion by 2030, at a CAGR of 6.1% from 2023 to 2030.
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The growth of this market is driven by the rising demand for weather forecasting services in the agriculture industry and the increased need for continuous weather monitoring to enable disaster management. In addition, the emergence of advanced technologies is expected to offer significant opportunities for the growth of this market. However, the high cost associated with weather monitoring solutions is expected to restrain the growth of this market.
Impact of COVID-19 on the Weather Monitoring Systems Market
The COVID-19 outbreak adversely affected various industries globally. The pandemic influenced business operations worldwide and severely impacted the global economy. The pandemic impacted various sectors, including transportation. The impacts included supply chain disruptions, issues with shipping & distribution, and restrictions on international trade. In order to control the spread of COVID-19, countries worldwide placed restrictions on domestic transit and/or closed border crossings for road freight transport services. The maritime industry has largely proved resilient to the COVID-19 outbreak.
The COVID-19 pandemic negatively affected the weather monitoring and forecasting market. The meteorological measurements from aircraft dropped by an average of 75% to 80%. Also, the transportation industry's weather monitoring accuracy was reduced as fewer flights were operated during the lockdown period. Thus, there was a decrease in demand for weather monitoring products during the pandemic.
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Despite the disruptions at ports, the shipping industry has largely continued to operate worldwide, facilitating the movement of essential supplies and medicines needed to keep countries dealing with the global public health crisis. Thus, the demand for weather monitoring systems is anticipated to recover gradually and grow significantly in the long term.
The weather monitoring systems market is segmented based on component (solutions and services), range type (short-range and long-range), monitoring type (temperature monitoring, humidity monitoring, air quality, pressure monitoring, and other monitoring types), end-use industry (agriculture, transportation, media & telecommunication, government, renewable energy, and other end-use industry), and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on component, the weather monitoring systems market is segmented into solutions and services. In 2023, the solutions segment is estimated to account for the largest share of the weather monitoring systems market. Also, the segment is slated to register the highest CAGR during the forecast period. The growth of the segment is attributed to the increasing demand for sensors for monitoring weather conditions.
Based on range type, the weather monitoring systems market is segmented into short-range and long-range. In 2023, the short-range segment is estimated to account for the largest share of the weather monitoring systems market. The short-range segment is slated to register the highest CAGR during the forecast period. The segment's growth is attributed to the increasing demand for weather monitoring solutions to provide highly accurate information such as air quality, temperature, humidity, and wind speed in case of adverse weather conditions to reduce the damage.
Based on monitoring type, the weather monitoring systems market is segmented into temperature monitoring, humidity monitoring, air quality, pressure monitoring, and other monitoring types. In 2023, the temperature monitoring segment is estimated to account for the largest share of the weather monitoring systems market. However, the air quality segment is slated to register the highest CAGR during the forecast period. The growth of the segment is attributed to the increasing need to monitor air quality to collect data on air pollution in the outdoor environment.
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Based on end-use industry, the market is segmented into agriculture, transportation, media & telecommunication, government, renewable energy, and other end-use industry. In 2023, the transportation segment is estimated to account for the largest share of the overall weather monitoring systems market. Also, the segment is slated to register the highest CAGR during the forecast period. The segment's growth is attributed to the increasing demand for weather monitoring systems to gather weather data to enhance flight safety and increase trade traffic.
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is estimated to account for the largest share of the weather monitoring systems market. Also, the region is slated to register the highest CAGR during the forecast period. The growth of the segment is attributed to the increasing demand for advanced weather monitoring sensors and data services for the aviation industry in the region. Also, the region is experiencing a significant shift toward renewable energy, thus increasing the adoption of weather monitoring systems.
The report also includes an extensive assessment of the key growth strategies adopted by leading market participants between 2020 and 2023.
The weather monitoring systems market is dominated by a few major players, namely, Vaisala (Finland), Baron Services, Inc. (U.S.), Aeron Systems Private Limited (India), Earth Networks (U.S.), Boltek Lightning Detection Systems (Canada), Trafitek Solutions Private Ltd. (India), Campbell Scientific, Inc. (U.S.), Columbia Weather Systems, Inc. (U.S.), AnythingWeather Communications, Inc. (U.S.), Hoskin Scientific (Canada), Airmar Technology Corporation (U.S.), Intermountain Environmental Inc. (U.S.), Free Spirits Green Labs Private Limited (India), MORCOM International (U.S.), and Davis Instruments (U.S.).
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Scope of the Report:
Weather Monitoring Systems Market, by Component
- Solutions
- Services
Weather Monitoring Systems Market, by Range Type
- Short-range
- Long-range
Weather Monitoring Systems Market, by Monitoring Type
- Temperature Monitoring
- Humidity Monitoring
- Air Quality
- Pressure Monitoring
- Other Monitoring Types
Weather Monitoring Systems Market, by End-use Industry
- Agriculture
- Transportation
- Aviation
- Marine
- Road Transportation
- Media & Telecommunication
- Government
- Renewable Energy
- Other End-use Industries
Weather Monitoring Systems Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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