Weather Forecasting System Market Size

Weather Forecasting System Market size was valued at USD 2.11 billion in 2023 and is set to cross USD 4.96 billion by 2036, expanding at more than 6.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of weather forecasting system is evaluated at USD 2.22 billion

The growth of the weather forecasting system market can primarily be attributed to the increasing need for precise climate information and regular monitoring to forecast varying atmospheric conditions. For instance, tropical cyclones have been credited for 1 942 catastrophes over the previous 50 years that resulted in 780 328 fatalities and approximately USD 1 408 billion financial damage, which is an average of 45 fatalities and USD 79 million in destruction each day.

A weather forecasting system employs both science and technology to predict weather patterns for a specific time and place. As a result, these systems assist industries in accurately predicting weather patterns and preparing weather-sensitive operations to ensure people's safety. The global economy is now 70% weather-sensitive. Accessibility to the modern technological weather forecasting and climate information is still limited in 2 out of every 3 nations.