Global Weather Forecasting Services Market Size By Type (Short-Range Forecasting, Medium-Range Forecasting), By End User Industry (Aviation, Energy & Utilities), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Weather Forecasting Services Market Size And Forecast

Weather Forecasting Services Market size was valued at USD 2,145.77 Million in 2023 and is projected to reach USD 4,189.61 Million by 2031, growing at a CAGR of 8.81% from 2024 to 2031.

Technological advancements and increasing climate change awareness are the factors driving market growth. The Global Weather Forecasting Services Market report provides a holistic market evaluation. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Weather Forecasting Services Market Introduction

The Global Weather Forecasting Services Market stands as a cornerstone in the contemporary landscape of information-driven decision-making, serving as a vital conduit for diverse industries to navigate the complexities of weather patterns. Defined by the provision of meteorological insights, predictive analytics, and sophisticated forecasting technologies, this market extends its influence across a spectrum of sectors, including but not limited to agriculture, aviation, energy, transportation, and finance.

Weather forecasting services encompass the collection, analysis, and dissemination of meteorological data obtained through an intricate network of satellites, weather stations, and cutting-edge observation systems. The fundamental objective is to translate this data into actionable insights, enabling businesses and governments to make informed decisions, manage risks, and optimize operations in the face of dynamic weather conditions. These services cover a range of forecasting types, including short-range, medium-range, and long-range predictions, each catering to distinct timeframes and purposes.

The End Use Industries of weather forecasting services are widespread and integral to the smooth functioning of various industries. In agriculture, for instance, precise forecasts aid in crop planning, irrigation management, and pest control, optimizing yields and ensuring food security. For the aviation sector, accurate weather predictions are paramount for flight planning, airport operations, and passenger safety. In the energy industry, from renewable sources like wind and solar power to traditional sectors, weather forecasts play a crucial role in optimizing energy generation, demand forecasting, and grid management.

The growth of the Global Weather Forecasting Services Market can be attributed to several rationales that underscore its indispensability in today’s world. Technological advancements, particularly in big data analytics, machine learning, and artificial intelligence, have significantly enhanced the accuracy and reliability of weather predictions. The adoption of these advanced technologies has propelled the market forward, empowering industries with more precise insights and actionable information. Furthermore, the increasing frequency and intensity of extreme weather events globally have underscored the need for robust forecasting services to mitigate risks and enhance resilience across sectors.

What's inside a
industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

Global Weather Forecasting Services Market Overview

Technological advancements, notably in artificial intelligence (AI), machine learning (ML), and big data analytics, stand as pivotal drivers propelling the growth of the Global Weather Forecasting Services Market. The infusion of these cutting-edge technologies has brought about a transformative shift in the accuracy, precision, and efficiency of weather forecasting models. Through AI and ML algorithms, meteorological predictions have become more sophisticated, enabling the analysis of vast datasets with unparalleled speed and accuracy. This, in turn, facilitates a more nuanced understanding of complex atmospheric patterns and the factors influencing weather phenomena.

The intricate and dynamic nature of atmospheric interactions constitutes a significant constraint in the growth of the Global Weather Forecasting Services Market. The complexities inherent in atmospheric dynamics pose formidable challenges for accurate modeling and prediction of weather patterns. Sudden shifts in climate conditions, the nonlinear behavior of certain atmospheric phenomena, and the presence of chaotic elements create hurdles in the development of forecasting models that consistently capture these complexities.

The burgeoning demand for precision forecasting solutions is fostering significant opportunities within the Global Weather Forecasting Services Market. This trend is characterized by a shift towards developing tailored and industry-specific forecasting services, catering to the unique needs of sectors such as agriculture, energy, transportation, and healthcare. The recognition that one-size-fits-all forecasting models may not sufficiently address the intricacies of diverse industries has prompted a surge in demand for customized solutions.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies represents a pivotal trend in the Global Weather Forecasting Services Market, revolutionizing the traditional approach to meteorological predictions. This trend is marked by the infusion of AI and ML algorithms into forecasting models, empowering meteorologists and weather scientists to analyze vast datasets with unprecedented efficiency and precision. The ability of AI and ML to identify intricate patterns within historical weather data, satellite imagery, and real-time observations enhances the overall accuracy of weather forecasts.

Global Weather Forecasting Services MarketSegmentation Analysis

The Global Weather Forecasting Services Market is segmented on the basis of Type, End Use Industry and Geography.

Weather Forecasting Services Market, By Type

  • Short-Range Forecasting
  • Medium-Range Forecasting
  • Long-Range Forecasting

When it comes to the type of forecast, the market is divided into Short-Range, Medium-Range, and Long-Range Forecasting. And guess what? Short-range forecasting was the big winner in 2022! It's expected to keep booming, growing at a rate of 9.23% each year! Why? Well, these forecasts – usually for the next 72 hours – are super useful right now. They're key for everyday choices in all sorts of fields. Think about iteveryone from transportation companies to emergency crews and farmers needs real-time, spot-on weather info. That's why short-range forecasting is such a big deal. Being able to know exactly what's coming – will it rain? Will it be hot? – makes it incredibly valuable. It helps businesses and governments plan ahead, stay safe, and make smart moves. So, yeah, short-range forecasting is definitely the money-maker in this whole weather-predicting game!

Weather Forecasting Services Market, By End Use Industry

  • Aviation
  • Energy & Utilities
  • Agriculture
  • Transportation
  • Retail
  • Manufacturing
  • BFSI
  • Media
  • Others

To Get a Summarized Market Report By End Use Industry-

So, when we look at who's using weather forecasting services, we can break it down by industries like Aviation, Energy & Utilities, Agriculture, Transportation, Retail, Manufacturing, BFSI, Media, and, well, Others. Right now, Aviation is the biggest user, making up the largest chunk of the market in 2022, and it's expected to keep growing at around 8.70% each year. Think about it – they need super accurate weather info to keep flights safe, plan routes, and manage airports efficiently. But here's the thingEnergy & Utilities and Agriculture are actually growing even faster. That's because renewable energy companies need to know what the weather's going to be like to plan their energy production, and farmers are relying on weather predictions for everything from deciding what to plant to figuring out how to use resources wisely. So while Aviation is still the big player, keep an eye on Energy & Utilities and Agriculture – they're where a lot of the action (and investment) is headed in the weather forecasting world.

Weather Forecasting Services Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

To Get a Summarized Market Report By Geography-

Looking at the world, the weather forecasting services market breaks down into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Right now, North America leads the pack, grabbing the biggest slice of the pie in 2022. And it's expected to keep growing at a steady pace, around 7.94% each year. Think of it as the region that's got its weather tech sorted and really needs that real-time info across all sorts of businesses. But here's the interesting partAsia Pacific is shaping up to be the fastest grower. With economies booming, crazy different weather patterns, and pretty much everyone needing weather updates, it's a hot spot. Industries like farming, factories, and energy are all hungry for those accurate forecasts. As climate change pushes everyone to adapt, Asia Pacific's growth potential is turning heads, making it the place to watch if you're looking for opportunities in the weather game.

Key Players

The global Weather Forecasting Services Market study report will provide a valuable insight with an emphasis on the global market. The major players in the market include AccuWeather, Meteosim S.L., StormGeo, DTN, Precision Weather Services, Meteoblue AG, CustomWeather, Weather Routing Inc, TempoQuest, Skymet Weather Services Pvt Ltd, and Global Weather Corporation.

Report Scope

Report AttributesDetails
Study Period

2020-2031

Base Year

2023

Forecast Period

2024-2031

Historical Period

2020-2022

Unit

Value (USD Million)

Key Companies Profiled

AccuWeather, Meteosim S.L., StormGeo, DTN, Precision Weather Services, Meteoblue AG, CustomWeather, Weather Routing Inc, TempoQuest

Segments Covered
  • By Type
  • By End User Industry
  • By Geography
Customization scope

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

To Get Customized Report Scope- 

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We dive deep into the market using both numbers and insights, breaking it down by different groups considering everything from the economy to people's preferences. You'll get the market value in USD Billion for each of those groups and subgroups. We'll point out which region and segment are likely to grow the fastest and become the biggest. Our analysis explores how the product/service is used in different regions, and what's influencing the market there. We also look at the competition, ranking the major players and highlighting recent new offerings, partnerships, expansions, and acquisitions over the last five years. You'll find detailed company profiles including overviews, insights, product comparisons, and SWOT analysis for key players. Get a clear picture of the industry's current and future, considering growth opportunities, drivers, challenges, and restraints in both new and established regions. We'll provide an in-depth look using Porter's five forces analysis, plus a Value Chain view to understand how everything connects. Explore the market's dynamics and the growth potential in the years ahead. And to top it off, you'll get 6 months of post-sales support from our analysts.

Customization of the Report

• In case of any  please connect with our sales team, who will ensure that your requirements are met.

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email