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Weather Forecasting Systems Market to Reach Valuation of USD 3,071.5 Million by 2028 – Need for Continuous Weather Monitoring to Enable Disaster Management Drives the Market
In terms of revenue, the Global Weather Forecasting Systems Market is expected to reach USD 3,071.5 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2028.
Weather forecasting helps to predict weather conditions. Systems such as outdoor thermometers (air temperature), barometers (air pressure), anemometers (wind speed and direction), and hygrometers (humidity) are used to find the optimum change in climate. The Weather Forecasting Systems Market is primarily driven by factors such as need for weather monitoring to avoid disaster, upsurge in production of renewable energy, and increasing computing capabilities of supercomputers for weather forecasting.
Key Highlights from Report:
Market Dynamics:
In recent years, government is investing heavily in safeguarding natural calamities especially weather disasters. Many organisations have come up with solutions to stop unnecessary usage of fossil fuel and research on alternative source of energy. This will not only reduce air pollution but also have impact on reducing climate change with will indirectly reduce catastrophic disasters. For instance, in 2020, the global renewable generation capacity reached to 2537 GW. Energy generated using hydropower accounted for 1190 GW. Wind and solar energy accounted for most of the remainder, at 623 GW and 586 GW, respectively. Other renewables included 124 GW of bioenergy and 14 GW of geothermal, plus 500 MW of marine energy.
Asia Pacific is expected to dominate the Global Weather Forecasting Systems Market in 2021 and is likely to continue the same trend during the forecast period. This region has the most advanced professionals and funds for investing in Weather Forecasting Systems Market technology. Also, growing technological advancements with the availability of surplus know-how in executing this technology makes this region prominent for the market to flourish in coming years. The growth of the Weather Forecasting Systems Market is driven by rising focus on investments plans in Weather Forecasting Systems Market technologies. The countries in this region are undertaking various projects related to sustainable and renewable energy generation to protect the environment and avoid energy crises in the future.
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Weather Forecasting Systems Market to Reach Valuation of USD 3,071.5 Million by 2028 – Need for Continuous Weather Monitoring to Enable Disaster Management Drives the Market
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