The weather monitoring system market is expected to reach US$ 2,932.92 million by 2028 from US$ 2,932.92 million in 2021. It is estimated to grow at a CAGR of 7.7% from 2021 to 2028.
This research report provides insights into the “Weather Monitoring System Market.” This report summarizes the results of the assessment carried out by Premium Market Insights in the field of the Benefits Management Platform for the global perspective. The report provides an analysis of the Benefits Weather Monitoring System Market by deployment, application, and geography.
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The List of Companies –
- Trinity Touch
- Trafitek Solutions Private Ltd.
- Telegrafia a.s.
- Boltek Lightning Detection Systems
- Free Spirits Green Labs Pvt Ltd
- Nvis Technologies Pvt. Ltd.
- Aeron Systems Private Limited
- Logics PowerAMR Pvt. Ltd.
- Baron Services, Inc.
The weather monitoring system market is broadly segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SCAM). APAC held the largest market share in 2020, followed by North America and Europe. APAC is further anticipated to register the highest CAGR during the forecast period.
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The increasing uptake of these systems by the aviation and the energy & power industries and the rising technology developments, such as AI and IoT-based weather monitoring systems, are fueling this market. Airport authorities are investing significantly in the modernization of airports across North America, creating lucrative business opportunities for the market players. Moreover, with the increasing focus on reducing carbon emissions, the governments in the region are emphasizing clean energy, owing to which the deployment of solar and wind power plants is likely to increase in the near future. For instance, in March 2021, the US government announced to become carbon neutral by 2050. Also, Canada plans to be carbon neutral by 2050. The deployment of solar and wind power projects is gaining significant traction across the region due to various initiatives taken by the North America governments. Thus, the growing deployment of renewable energy projects would create ample growth opportunities for the weather monitoring system market. Moreover, the increasing number of smart cities across North America is boosting the market in the region.
In Europe, German airport authorities have invested significant amounts in renovating the airports with advanced technologies, including weather monitoring systems. The development of wind and solar projects is increasing in Europe. For instance, in November 2021, TotalEnergies announced the largest solar project in Gien, France. The project would generate about 64 GW of solar power per year. Thus, these factors are acting as significant drivers for the weather monitoring system market in Europe. The MEA is enriched with fossil fuel deposits, which have also been one of the primary sources of national income. The Saudi Arabia government is currently emphasizing diversifying its economy and supporting the development of non-oil sectors, such as manufacturing and aviation. The increasing trading activities will lead to the development of new ports. For instance, in May 2021, Hutchison Ports and Jazan City for Primary and Downstream Industries announced the development of a multi-purpose port in Jazan City, Saudi Arabia. Thus, the factors mentioned above are driving the weather monitoring system market. During the COVID-19 pandemic, the market players experienced supply chain disruptions in 2020 due to various government regulation measures. The crisis also affected their production performances in that year. However, from the Q4 of 2020, the supply chains of weather monitoring systems stabilized, and market players began to expand from 2021.
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TABLE OF CONTENTS
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
- Key Takeaways
- Research Methodology
3.2 Secondary Research
3.3 Primary Research
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
- Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Facial Recognition Solutions in Aviation Industry
5.1.2 Using Weather Forecasting to Enable Disaster Management
5.2 Market Restraints
5.2.1 Complexity of Weather Forecasting Systems
5.3 Market Opportunities
5.3.1 Deployment of Wind Turbines & Solar Panels to Generate Renewable Energy
5.4 Future Trends
5.4.1 Increasing Penetration of IoT-based WMS
5.5 Impact Analysis of Drivers and Restraints
- Global Market Analysis
- By Component
- By Application
- Geographic Analysis
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