The global meteorological devices market size was valued at USD 1.39 billion in 2021. The market is projected to grow from USD 1.45 billion in 2023 to USD 1.90 billion by 2029, exhibiting a CAGR of 3.88% during the forecast period. The global meteorological devices market size is set to gain traction on account of the increasing usage of smart tools for weather forecasting, observes Fortune Business Insights™ in its report, titled “Meteorological Devices Market, 2023-2029”. Predictive analytics is assisting in the transformation of weather forecasting in the future.
Information Source:
https://www.fortunebusinessinsights.com/meteorological-devices-market-104079
Big data analytics is used by weather scientists to forecast future weather conditions based on current and historical data. Big data analytics also allow supercomputers to accurately predict life-threatening natural weather conditions. For example, IBM’s Deep Thunder application, powered by big data, provides forecasts of specific locations, such as particular areas in a city, to local authorities to enable them to prepare and respond in advance to weather anomalies. Weather forecasting entails predicting atmospheric conditions for a particular area at a specific time. Computer models, observations, and experience of historical weather trends and patterns are all used in such forecasting systems. These meteorological devices may be used to predict weather conditions in a fair and reliable manner.
Segments:
By type, the market is segmented into anemometer, hygrometer, thermometer, barometer, pyrometer, snow gauge, and others. By application, the market is categorized into research institutes, weather forecasting, chemical industry, biotechnical industry, weather station, environmental study, and others. By end-use, the market is divided into commercial and government & defense. By geography, the market is segregated into North America, Europe, Asia Pacific, and the Rest of the World.
List of Key Players Profiled in the Meteorological Devices Market Report:
- AccuWeather Inc. (U.S.)
- Airmar Technology Corporation (U.S.)
- All Weather Inc. (U.S.)
- Campbell Scientific Inc. (U.S.)
- Kongsberg Gruppen (Norway)
- MeteoGroup (a subsidiary of DTN) (Netherlands)
- Observator Group (Netherlands)
- Raytheon Technologies Corporation (U.S.)
- Sutron Corporation (U.S.)
- The Weather Company (U.S.)
- Vaisala Oyj. (Finland)
Report Highlights:
The study provides in-depth reviews of existing companies that are reshaping the market’s dynamics. This report offers a detailed analysis of numerous factors affecting the market. It analyses many tactics strategically and offers crucial insights such as the prevalence of major diseases in key countries, a patent snapshot, pipeline research, key mergers and acquisitions, joint ventures, and more.
Drivers & Restraints:
Growing Scope in Disaster Management to Fuel the Market
In tropical countries such as India, the range of climates is wide, with approximately 80% of the annual precipitation falling during the monsoon season. Despite the fact that the country receives seasonal rainfall, the country’s complicated monsoon winds and diffused mountain orientation result in sparse rainfall in some areas, causing water scarcity. Some areas, on the other hand, experience heavy rainfall, resulting in flooding. Every year, for instance, India suffers extensive devastation in the form of crop, home, and public utility losses, as well as human lives. As a result, government agencies such as the Central Water Resources Management Department are working to improve rural infrastructure in order to reduce losses. The demand for meteorological devices and equipment is thus rapidly expanding, owing to increased dam-building activities and rising water levels. The water levels in reservoirs in Karnataka, for example, are at alarming levels, according to the Karnataka State Natural Disaster Monitoring Centre (KSNDMC). Weather assessment technologies can thus aid in enabling governments to take proactive measures and protect vulnerable populations.
Regional Insights
Rising Adoption of Advanced Weather Forecasting Systems to Boost the North America Market
The rising demand for weather forecasting systems from the oil and gas and aviation industries is propelling the North America meteorological devices market share. The United States is predicted to dominate the market in North America, as the coastal areas of the country are regularly battered by hurricanes forming in the Atlantic Ocean and around the Gulf of Mexico.
In Asia Pacific, apart from the privately launched weather satellites, rising government investments in commercial meteorological devices and solutions are expected to drive growth. For example, Japan’s Meteorological Service Act aims to expand commercial opportunities for private meteorological services in the country.
Over the forecast period, the Middle East and Africa (MEA) market is projected to expand significantly. The increasing demand for advanced weather alert solutions that warn users about potential future disasters is expected to boost the region’s revenue share. The area has experienced major climate changes in recent years as a result of increasing temperatures and changes in hydrological cycles.
Competitive Landscape-
Major Players to Focus on Developing Cutting-Edge Solutions
The demand for meteorological devices is steadily increasing in countries frequently hit by natural disasters, such as India and the US, as both large and small players strive to engineer innovative climatic prediction technologies. As a result, a growing number of newcomers are entering the industry, making it more competitive. Players are also concentrating on the production of higher-performing equipment. For example, K.R Instruments created an Ultrasonic Flow Meter that measures flow, velocity, and water level using HydroVision’s validated acoustic profiling technology. For global customers, the company produces high-quality, cost-effective, and creative equipment.
Industry Development-
February 2020: Phase 8 avionics has been launched by Honeywell International Inc. The primus epic cockpit on the Leonardo AW139 is being upgraded with new features, which include a track-based synthetic vision system.
