LONDON--(BUSINESS WIRE)--Technavio has been monitoring the smart home weather stations and rain gauge market and it is poised to grow by USD 55.45 million during 2020-2024, progressing at a CAGR of almost 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the smart home weather stations and rain gauge market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- The smart weather stations are expected to be the leading segment based on product in the global market during the forecast period.
- What are the major trends in the market?
- Growing product innovation is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 8%, the incremental growth of the market is anticipated to be USD 55.45 million.
- Who are the top players in the market?
- Ambient LLC, BloomSky Inc., Campbell Scientific Inc., Chaney Instrument Co., Davis Instruments Corp., La Crosse Technology Ltd., Lifetime Brands Inc., NETATMO SAS, Nielsen-Kellerman Co., and WeatherFlow Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Increasing adoption of wireless connecting devices and IoT is one of the major factors driving the market. However, the security and data privacy concerns regarding IoT and smart devices restraints the market growth.
- How big is the North America market?
- The North America region will contribute to 41% of market growth.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Ambient LLC, BloomSky Inc., Campbell Scientific Inc., Chaney Instrument Co., Davis Instruments Corp., La Crosse Technology Ltd., Lifetime Brands Inc., NETATMO SAS, Nielsen-Kellerman Co., and WeatherFlow Inc. are some of the major market participants. The increasing adoption of wireless connecting devices and IoT will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this smart home weather stations and rain gauge market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Smart Home Weather Stations and Rain Gauge Market 2020-2024: Segmentation
Smart Home Weather Stations and Rain Gauge Market is segmented as below:
- Smart Weather Stations
- Smart Rain Gauge
- North America
- South America
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Smart Home Weather Stations and Rain Gauge Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart home weather stations and rain gauge market report covers the following areas:
- Smart Home Weather Stations and Rain Gauge Market Size
- Smart Home Weather Stations and Rain Gauge Market Trends
- Smart Home Weather Stations and Rain Gauge Market Analysis
This study identifies growing product innovation as one of the prime reasons driving the smart home weather stations and rain gauge market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Smart Home Weather Stations and Rain Gauge Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart home weather stations and rain gauge market growth during the next five years
- Estimation of the smart home weather stations and rain gauge market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart home weather stations and rain gauge market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart home weather stations and rain gauge market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Force Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Smart weather stations - Market size and forecast 2019-2024
- Smart rain gauge - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Online - Market size and forecast 2019-2024
- Offline - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Ambient LLC
- BloomSky Inc.
- Campbell Scientific Inc.
- Chaney Instrument Co.
- Davis Instruments Corp.
- La Crosse Technology Ltd.
- Lifetime Brands Inc.
- NETATMO SAS
- Nielsen-Kellerman Co.
- WeatherFlow Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.