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DUBLIN, March 2, 2022 /PRNewswire/ — The ‘Weather Forecasting Services Market by Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, Media), Forecasting Type (Nowcast, Short, Medium, Extended, Long), Purpose, Organization Size, & Region – Global Forecast to 2026’ report has been added to ResearchAndMarkets.com’s offering.
The weather forecasting services market size is projected to grow from an estimated USD 1.7 billion in 2021 to USD 2.7 billion by 2026, at a CAGR of 9.9% during the forecast period.
The insurance segment accounts for the largest market size during the forecast period Typically includes aviation, transport & logistics, media, insurance, retail, construction & mining, marine, agriculture, energy & utilities, and oil & gas, among others are considered in the weather forecasting services market. The insurance industry is estimated to be account for the largest share in the weather forecasting services market. The small and medium-sized enterprises segment is projected to grow at the highest CAGR during the forecast period Based on the organization size, the weather forecasting services market has been segmented into large enterprises and Small & Medium-Sized Enterprises. the small and medium-sized enterprises is estimated to growth at a highest CAGR in the weather forecasting services market during the forecast period. Weather forecasting services offer cost-efficiency, improved scalability, 24×7 availability, and enhanced decision-making. Hence, SMEs are expected to adopt weather forecasting services at a high rate, as cost-effectiveness is important for these organizations. The short range forecast type segment accounts for the largest market size during the forecast period Based on forecasting type, the weather forecasting services market is segmented into nowcast, short range, medium range and long range forecasting type. the short range forecasting type is estimated to lead the weather forecasting services market during the forecast period. The growth of this segment is attributed to the increasing need for short-range forecasts by the event management industry to plan sports and social events. Also, increasing demand for short range weather forecasting in renewables and oil & gas industry verticals. North America is expected to account for the largest share in 2021 The weather forecasting services industry has been studied for North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. North America is estimated to account for the largest share of the weather forecasting services market in 2021. Weather forecasting technologies have been widely adopted across most industries in North America. The region has a large presence of prominent technology players focusing on innovations. Organizations in this region were the early adopters of advanced technologies. Technological advancements, such as improvements in data analytics and computer forecast models and an increase in the use of supercomputers delivering more computing power, are working in favor of the market in North America. The focus on focused on implementing the latest WFS technologies to make accurate weather forecasting is driving the growth of weather forecasting services market in the region.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Attractive Opportunities in Weather Forecasting Services Market, 2021-20264.2 Weather Forecasting Services Market, by Forecast Type4.3 Weather Forecasting Services Market, by Purpose4.4 Weather Forecasting Services Market, by Country
5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Integration of Weather Forecasting Services by Transport and Logistics Sectors5.2.1.2 Demand for Weather Forecasting Services in Modern-Day Agriculture5.2.1.3 Improving Safety in Airplane Operations5.2.1.4 Rise in Climate-Changing Patterns Resulting in Uncertainties Related to Rainfall5.2.1.5 Increase in Weather Monitoring for Disaster Management5.2.2 Restraints5.2.2.1 Dynamic Nature of Atmospheric Variables5.2.2.2 Complexity and Lack of Specialized Weather Forecasting Models5.2.3 Opportunities5.2.3.1 Growth of Renewable Energy Sector5.2.3.2 Increasing Computing Capabilities by Supercomputers5.2.3.3 Use of High-End Radars and Satellites for Weather Monitoring5.2.3.4 Use of Big Data Analytics in Weather Forecasting Services5.2.4 Challenges5.2.4.1 Lack of Effective Automation5.2.4.2 Frequent Occurrence of False Weather Alarms5.2.4.3 Operational Challenges for Weather Forecasting Companies due to COVID-195.3 Ranges and Scenarios5.4 COVID-19 Impact on Weather Forecasting Services Market5.5 Trends/Disruptions Impacting Customer’s Business5.6 Average Selling Price Analysis5.7 Operational Data5.8 Weather Forecasting Services Market Ecosystem5.9 Technology Analysis5.10 Use Case Analysis5.11 Value Chain Analysis of Weather Forecasting Services Market5.12 Porter’s Five Forces Analysis5.13 Tariff and Regulatory Landscape5.14 Trade Analysis
6 Industry Trends 6.1 Introduction6.2 Technology Trends6.2.1 Disruptive Technologies: Iot, Ai, and Big Data Analytics6.2.2 Weather Drones6.2.3 Supercomputers6.2.4 Computer Models with Fast Processors6.2.5 Emergence of Next-Generation Radar Technology6.2.6 Big Weather Data Analysis6.2.6.1 Hadoop and Mapreduce6.2.7 Intelligent Weather Predicting Modules6.3 Supply Chain Analysis6.4 New Weather Forecasting Models6.4.1 Horizontal Wind Model (Hwm)6.4.2 Weather Interactive Processing System (Awips) Ii6.4.3 Even Newer Dynamics for General Atmospheric Modeling (Endgame)6.5 Impact of Megatrends6.5.1 Automation6.5.2 Digitization6.6 Innovations and Patent Registrations
7 Weather Forecasting Services Market, by Forecast Type 7.1 Introduction7.2 Nowcast7.2.1 Accurate Prediction of Weather Conditions ~6 Hours in Advance Drives Nowcast Segment7.3 Short- Range7.3.1 Demand from Fisheries and Transportation to Boost Short-Range Segment7.4 Medium- Range7.4.1 Requirement for Medium-Range Forecast in Agricultural Industry Fuels Medium-Range Segment7.5 Extended-Range7.5.1 Demand from Resource Management and City Planning Sectors Boosts Extended-Range Segment7.6 Long-Range7.6.1 Increasing Demand from Weather-Sensitive Industries Driving Growth of Long-Range Segment
8 Weather Forecasting Services Market, by Industry 8.1 Introduction8.2 COVID-19 Impact on Industries8.3 Transport & Logistics8.3.1 Weather Intelligence Provides Forecasting to Transport and Logistics8.4 Marine8.4.1 Demand for Marine Weather Forecasting Driven by Need to Analyze Weather Conditions8.5 Aviation8.5.1 Need to Ensure Safety of Air Passengers and Flight Crew8.6 Media8.6.1 Weather Warning Systems Help in Efficient Handling of Events8.7 Oil & Gas8.7.1 Weather Forecasting Services Help in Voyage Planning8.8 Agriculture & Forestry8.8.1 Weather Forecasting Services Help in Mitigating Risk in Agriculture8.9 Insurance8.9.1 Increasing Need for Weather Data for Future Claims8.10 Retail8.10.1 Weather Forecasting Services Used to Analyze Sales Trends in Retail8.11 Energy & Utilities8.11.1 Upsurge in Renewable Energy Production to Drive Demand8.12 Construction & Mining8.12.1 Effective Planning Can Help Mitigate Weather Risks8.13 Others
9 Weather Forecasting Services Market, by Purpose 9.1 Introduction9.2 Safety9.2.1 Weather Safety Plays a Major Role in Eliminating Fatality Risks at Manufacturing Sites9.3 Operational Efficiency9.3.1 Forecast Information Enables Efficient Day-To-Day Planning and Informed Decision-Making9.4 Others
10 Weather Forecasting Services Market, by Organization Size 10.1 Introduction10.2 Large Enterprises10.2.1 Dependence of Large Enterprises on Weather Forecasting Services to Improve Business Decisions10.3 Small & Medium-Sized Enterprises10.3.1 Ensures Risk Management in Small & Medium-Sized Enterprises
11 Weather Data Services Market 11.1 Introduction11.2 Drivers and Opportunities for Weather Data Services Market11.3 Technology Analysis11.3.1 Integration of Big Data Analytics in Weather Data11.3.2 Incorporation of Weather Data into Internet of Things (Iot)11.3.3 Cloud Computing in Weather Data11.3.4 High-Performance Computing for Weather Data11.4 Use Cases on Weather Data Services Market11.4.1 Precision Agriculture Uses Climacell Weather Data11.4.2 Uber Uses Climacell Weather Data for Weather-Related Insights11.5 Weather Data Services Market, by Data Type11.5.1 Real-Time Data11.5.2 Forecast Data11.5.3 Historical Data11.6 Weather Data Service Provider11.6.1 Openweathermap11.6.2 Accuweather, Inc11.6.3 Climacell11.6.4 Understory11.6.5 Meteomatics11.6.6 Weather Underground11.6.7 Weatherstack11.7 Analyst’s View on Weather Data Services Market
12 Direct-To-Consumer Weather Forecasting Services Market 12.1 Introduction12.1.1 Marine12.1.1.1 Demand for Marine Weather Forecasting Driven by Need to Analyze Weather Conditions12.1.2 Private Aircraft Owners12.1.2.1 Need to Ensure Flight Crew Safety to Drive Demand12.1.3 Farmers12.1.3.1 Weather Forecasting Services Help in Mitigating Farming Risks12.1.4 General Consumers12.2 Medium Used to Provide Direct-To-Consumer Weather Forecasting Services12.2.1 Media12.2.2 Web-Based12.2.2.1 Application-Based12.3 Revenue Streams in Direct-To-Consumer Weather Forecasting Market12.3.1 Subscription12.3.2 Pay-Per-Use12.3.3 Ad-Based12.4 Weather Forecasting Service Providers12.5 Key Developments
13 Regional Analysis
14 Competitive Landscape 14.1 Introduction14.2 Market Ranking Analysis of Key Players, 202014.3 Market Share Analysis14.4 Competitive Benchmarking14.5 Company Evaluation Quadrant14.5.1 Weather Forecasting Services Market Competitive Leadership Mapping14.5.1.1 Star14.5.1.2 Emerging Leader14.5.1.3 Pervasive14.5.1.4 Participant14.5.2 Weather Forecasting Services Market Competitive Leadership Mapping (Sme)14.5.2.1 Progressive Company14.5.2.2 Responsive Company14.5.2.3 Starting Block14.5.2.4 Dynamic Company14.6 Competitive Scenario and Trends14.6.1 Market Evaluation Framework14.6.2 New Product Launches and Developments14.6.3 Deals
15 Company Profiles 15.1 Introduction15.2 Key Players15.2.1 The Weather Company15.2.2 Accuweather Inc.15.2.3 Fugro15.2.4 Dtn15.2.5 Stormgeo15.2.6 Bmt Group Ltd.15.2.7 Enav S.P.A.15.2.8 Precision Weather15.2.9 Tomorrow.Io15.2.10 Global Weather Corporation15.2.11 Met Office15.2.12 Skyview Systems Ltd.15.2.13 Speedwell Weather Ltd.15.2.14 Customweather15.2.15 Weather Routing Inc.15.2.16 Earth Networks15.2.17 Jupiter Intelligence15.2.18 Meteosim15.3 Other Players15.3.1 Understory15.3.2 Tempoquest15.3.3 Ubimet GmbH15.3.4 Weatherbell Analytics LLC15.3.5 Saildrone15.3.6 Skymet Weather Services Pvt.Ltd.15.3.7 Meteologic
16 Appendix
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