About Weather Forecasting Services
Weather simply refers to the condition of air on the earth at a given place and time. It is a continuous, data intensive, multidimensional, dynamic and chaotic process. Weather forecasting is the application which combines science and technology to predict the state of atmosphere for future time at a given location. Actually, weather forecasting is a big arrangement of time, funds, talent and absolute use of technology. It involves computing complex mathematical calculations. Weather forecasting is used in many situations like severe weather alerts and advisories, predicting the behaviour of the cloud for air transport, prediction of waterways in a sea, agriculture development and avoiding forest fire.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 13.1% |
Weather Service is a fragmented market due to the presence of several regional and international players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Weather Forecasting Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
StormGeo (Norway), BMT Group (United Kingdom), Fugro (Netherlands), ENAV S.p.A (Europe), The Weather Company (United States), Global Weather Company (United States), Mateoblue (United States), Precision Weather (United States), METEO Group (United Kingdom) and Met Office (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Accuweather Inc. (United States), Skymet Weather services Pvt., Ltd. (Noida), Fugro (Netherlands) and Skyview Systems Ltd. (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Weather Forecasting Services market by Type (Short Range, Now Casting, Very Short Range, Medium Range and Long Range), Application (Renewable Energy, Oil & Gas, Shipping, Media, Agriculture, Insurance, Retail, Aviation and Others) and Region.
On the basis of geography, the market of Weather Forecasting Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Purpose, the sub-segment i.e. Operational Efficiency will boost the Weather Forecasting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Transportation will boost the Weather Forecasting Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing demand for accurate and real time weather data.
Market Growth Drivers:
The Rise in Number of Natural Disasters Due To Undesired Climatic Changes, Development in Demand for Improved Application Areas among Aviation & Shipping Industry and Integration of weather services in transport and logistic sector.
Challenges:
Lack of effective automation in weather service.
Restraints:
Lack of Trained Workforce and Uncertainty in Forecasting Methods
Opportunities:
Huge Demand Due To Advancements in Computing System Including Advanced Data Analytics and Model Development and Rising Application of Supercomputer Models and Weather Drones
Market Leaders and their expansionary development strategies
In January 2022, Global Weather and digital media leader AccuWeather announced it has acquired Paris based environmental technology company Plume Labs for an undisclosed amount, effective immediately.
In November 2023, AccuWeather introduces first of its kind brightness index. AccuWeather, the undisputed leader in Superior Accuracy in weather forecasting, announced the creation of a new patented index to give people a better characterization and description of the weather they has experience that day and in the future.
Key Target Audience
Weather Forecast Service Providers, Forecast System Integrators, Private Research Institute / Education Institute, Government Research Institutes, Government Regulatory Bodies, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.