Product ID: UCMIG45A2045
Report ID:
UCMIG45A2045 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for weather information technology was valued at USD 9.41 billion in 2019; from 2020 to 2027, it is anticipated to grow at a CAGR of 8.5%. The increased need for real-time monitoring and air quality assessments to take preventative action for disaster management and risk reduction has resulted in phenomenal market growth. The industry has experienced a significant transformation, moving from a hardware-centric model to one that makes use of cutting-edge software. In the upcoming years, there will be tremendous market growth prospects due to the integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technology into meteorological information systems.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45A2045