The source claims that the market for weather monitoring systems will reach $2.933 billion by 2028. In 2021, it was equal to $1.746 billion. According to the forecast, the average annual growth during the indicated period will be 7.7%
Analysts distinguish five main regions of the specified market. These are North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South and Central America (SCAM). In 2020, Asia-Pacific held the largest market share, followed by North America and Europe. The Asia-Pacific region is expected to register the highest CAGR during the forecast period.
The market is fueled by the growing adoption of weather monitoring systems in the aviation and energy industries, as well as the development of technologies such as artificial intelligence-based weather monitoring systems and the Internet of Things. In addition, there is a growing focus on reducing carbon emissions by governments, resulting in an increase in the use of solar and wind farms, for which it is important to monitor the weather. Another important growth factor is the renewal of the material and technical base of airports, including weather monitoring systems.
Source: ixbt
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