- Short Range Forecast
- Medium Range Forecast
- Long Range Forecast
Weather Forecasting Services Market size was valued at USD 1.66 billion in 2021 and is expected to grow at a CAGR of 12.6% from 2022–2028. Weather forecast refers to a type of consulting service that provides real-time forecasts and aids in day-to-day operations and informed decision-making in various industry settings. Key factors that are expected to boost the growth of market include the growing demand for weather forecasting using big data and advanced analytics. In addition, climate change has created uncertainties related to rainfall patterns. Therefore, the proliferation of weather forecasting services in industries to enhance safety and reduce losses is a key factor that drives the market growth. Moreover, increasing use of weather forecasting in transport & logistics to improve their infrastructure burgeoning the market. Collaboration & partnership of key players aims to provide deeper insights to customers and help them make decisions. Long-term weather patterns can be made with great accuracy, but there is no proper way to make accurate weather analysis in the short term. This is expected to hinder the weather forecasting services market growth.
Weather Forecasting Services Market Summary
Study Period
2023-29
Base Year
2022
CAGR
12.6%
Largest Market
Asia Pacific
Fastest Growing Market
North America
Weather Forecasting Services Market Dynamics
Weather plays an important role in maintaining safety standards for all aircraft, maritime, transport, shipping, utilities, oil and gas, agriculture, renewable energy, media, retail, and insurance industries. Forecasts based on temperature and rainfall are important for agriculture and allows farmers to make critical decisions about planting and harvesting. Accurate weather forecasts also allow governments and businesses to better respond to natural disasters that affect the lives of millions. Therefore, the proliferation of weather forecasting services in industries to enhance safety and reduce losses is a key factor that drives market growth. Complexities associated with weather forecasting models and generation of false alarm expected to hinder market growth. The systems are fed massive amounts of data and made to learn to spot a storm that might produce lightning or tornadoes. Developments in these areas offer new opportunities for growth in the weather forecasting service market.
North-America Got Significant Share
Weather Forecasting Services Market
On the basis of regions, the market share is divided into North America, Asia-pacific, Europe, and the Middle East, and the African region. The weather forecasting services market was dominated by North America in 2021, owing to a large number of vendors and favorable government policies. However, Asia-Pacific is expected to witness growth at the highest rate at a CAGR of 9.7% owing to its large population base and hub for global goods transportation. Moreover, the agriculture industry is important in the region, requiring custom weather forecast services for reducing risks. The Europe Weather Forecasting Services Market is expected to grow at a CAGR of 8.4%. The region is expected to bring new innovations in the renewable energy sector, which soon be adopted by other regions of the world. The Middle East and Africa Weather Forecasting Services Market is expected to grow from USD 185.6 Million in 2021 to USD 301.8 Million by 2027 at a CAGR of 9.4%. The region has a moderate growth opportunity for market vendors as compared to other regions of the world. The GCC countries are in planning phase to massively adopt weather forecasting services.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Weather Forecasting Services Market Segmentation
Forecasting Type
Consumer Type
- B2B Services
- B2C services
By End User
- Agriculture
- Aviation
- Insurance
- Media
- Transportation
- Oil & Gas
- Renewable Energy
- Retail
- Shipping
- Utilities
- Others
Frequently Asked Questions
The weather forecasting services market is growing at a CAGR of 12.6% over the forecast period.
Fugro, Vaisala, Spire, The Weather Company, StormGeo, Accuweather
North America is the fastest-growing region for the weather forecasting services market
- Fugro
- Vaisala
- Spire
- The Weather Company
- StormGeo
- Accuweather
- Meteoblue
- Met Office
- METEO Group
- Precision Weather
- Campbell Scientific Inc.
- Global Weather Corporation
- Tomorrow IO
- ForecastWatch
- Planalytics
- Earth Networks
- Skymet Weather Services
- Athenium Analytics
- Jupiter
- Weather Source, LLC