The global demand for Weather Forecasting Services Market is presumed to reach the market size of nearly USD 20.14 MN by 2028 from USD 2.92719 MN in 2021 with a CAGR of 11.5% under the study period 2022 - 2028.
Weather forecasting services refer to decision-support solutions typically used to manage weather-sensitive operations to protect society, property, and profits and improve business performance. Weather forecasting services are required in aviation, marine, agriculture, energy & utilities, and oil and gas industries to plan weather-sensitive operations earlier. Weather forecasting services encompass various methods, tools, solutions, and approaches connected to meteorology.
Market Dynamics
The development of the aviation & shipping industry and the rise in safety concerns among end-use industries drive the market growth. Also, climate change has led to more frequent extreme weather events, driving the demand for weather forecasting services worldwide. Moreover, technological advancements in computing systems and the growth of the transportation industry among developing regions are expected to provide great opportunities for market growth. In addition, an increase in renewable energy production propels the market growth. However, complexities associated with weather forecasting models and a lack of a skilled workforce are expected to hamper the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of weather forecasting services. The growth and trends of weather forecasting services industry provide a holistic approach to this study.
Market Segmentation
This section of the weather forecasting services market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Forecasting Type
- Short-Range Forecasting
- Medium-Range Forecasting
- Long-Range Forecasting
By End User Industry
- Transportation
- Aviation
- Energy & Utilities
- Banking Financial Services & Insurance (BFSI)
- Agriculture
- Media
- Manufacturing
- Retail
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Weather Forecasting Services market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Weather Forecasting Services Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the weather forecasting services market include AccuWeather, Inc., BMT Group, ENAV, Fugro, Global Weather Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt., Ltd,, Skyview Systems Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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