Weather Forecasting Services Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Introduction

A key idea to predict the condition of an atmosphere for a given location is weather forecasting. Weather forecasting services can be defined as a technique that implements software, tools, and models, which perform the strategic analysis of atmospheric data to predict weather conditions for a particular location under a stipulated time frame. It provides weather forecasts for a specific function, thus helping in efficient day-to-day planning and informative decision-making for various industrial operations, which include planning, scheduling, and implementation. The process of forecasting follows functionalities of meteorology. Massive volume of structured and unstructured data is utilized by weather forecasting models to deliver improved analytical output that enables optimization of business revenues for various end-use industries.

Market Dynamics

The growth in aviation and shipping industry, and rise in safety concerns among end-use industries drive the growth of market. Moreover, strong government measures towards the use of renewable energy are spurring the industries to reduce their greenhouse emissions, thus supplementing the growth. However, lack of trained workforce and complexity of weather forecasting models restrict this market. In addition, advancements in computing systems, i.e., model development and machine learning tools are expected to create lucrative opportunities for weather forecasting service market.

The duration of small-range forecasting can differ from few hours to three days, and it covers a particular region, specifically an area of few million square kilometers. Short-range forecasting held highest share in 2016, and is also expected to maintain its dominance during forecast period. Small-range forecasting is typically issued for meteorological phenomena, for example, hurricanes, tropical storms, and sensible weather elements. It is majorly used in applications related to aviation & shipping industry. Rapid industrialization and continuous growth in air & sea transport drive the growth of this segment. Moreover, increase in air travel boosts the use of short-range forecasting services in aviation industry. Furthermore, growth of transportation industry in developing countries such as Japan, China, and India may provide enormous opportunities for market players.

Report coverage

The market research study on “Weather Forecasting Services Market (Forecasting Type: Short-range Forecasting, Medium-range Forecasting, Long-range Forecasting; End-Use Industry: Transportation, Aviation, Energy & Utilities, Banking, Financial Services & Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 - 2023” offers a detailed study on weather forecasting services market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided. Information about porter's five forces analysis is also mentioned. The report provides insight on global weather forecasting services market, its forecasting type, end-use industry, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global weather forecasting services market size, and segment markets by forecasting type, end-use, and geography along with information on companies operating in the market. The weather forecasting services market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, and LAMEA followed by major countries. The countries enlisted in report are U.S., Canada and Mexico from North America; Germany, UK, France and Rest of Europe from Europe and so on. For each region, the market sizes for different segments have been covered under the scope of report. The players profiled in the report include AccuWeather Inc., Skymet Weather services Pvt., Ltd., Global Weather Corporation, The Weather Company, BMT Group, Precision Weather, Met Office, Fugro, ENAV S.p.A, and Skyview Systems Ltd.

The global weather forecasting services market is segmented as below:

• Short-range Forecasting
• Medium-range Forecasting
• Long-range Forecasting

• Transportation
• Aviation
• Energy & Utilities
• Banking, Financial Services & Insurance (BFSI)
• Agriculture
• Media
• Manufacturing
• Retail
• Others

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa