Weather Forecasting Services Market - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast 2023-2027

Weather Forecasting Services Market Forecast 2023-2027

The weather forecasting services market is estimated to increase by USD 1.09 billion and grow at a CAGR of 9.93% between 2022 and 2027. The growth of the market depends on several factors, farmers need weather forecasting services, the advancements in computer technology, and the growing demand for airplane data integration with real-time weather prediction solutions. The intricacies of weather forecasting models pose a significant obstacle to the expansion of the worldwide market. These models, intricate computer programs, furnish real-time forecasts for future weather conditions at particular locations. Moreover, computer-assisted numerical models cater to various forecast intervals, encompassing long-range, medium-range, and short-range forecasts, tailored to different regions.

What will be the size of the Weather Forecasting Services Market During the Forecast Period?

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Market Segmentation by Type, Application, and Geography 

This report extensively covers market segmentation by type (medium-range, long-range, short-range, and nowcasting), application (energy and utilities, aviation, media and consumer, logistics and transportation, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

Type Segment Analysis

The medium-range segment will account for a major share of the market's growth during the forecast period. The National Center for Medium-Range Weather Forecasts (NCMRWF) is part of the Ministry of Earth Sciences. The purpose of this center is to develop reliable and accurate advanced numerical weather forecasting for India and neighboring regions through research, development, and demonstration of new and diverse applications while maintaining the highest level of knowledge, skills, and technical base. to create a system. The importance of the medium-range forecast will have a positive impact on the growth of the global weather forecast services market during the forecast period. 

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The medium-range segment was valued at USD 486.25 million in 2017 and continued to grow until 2021. In this segment, the forecast range is for three to four days in two weeks. Most service providers around the world offer moderate weather forecasts, with a 5-day forecast of 90% and a 7-day forecast of 80%, according to the National Oceanic and Atmospheric Administration (NOAA) SciJinks. European Center for Medium-Term Weather Forecasts (ECMWF). They are both a research institute and a 24/7 operational service, generating global numerical weather forecasts and other data for their member, and cooperating countries, and the greater community. The center's supercomputer facilities and meteorological data archive are among the largest in the world. Such things will increase segment growth during the forecast period.

Application Segment Analysis

Based on application, the market has been segmented into energy and utilities, aviation, media and consumer, logistics and transportation, and Others. The energy and utilities segment will account for the largest share of the type segment. Weather information and operational intelligence are crucial to the production of electricity for energy companies. In addition, accurate renewable energy supply is largely dependent on meteorological data, as the increase in renewable energy makes the worldwide power supply more susceptible to shifting weather conditions. These factors increase the demand in the energy and utility industries. Such factors will increase segment growth during the forecast period.

Regional Analysis

North America is estimated to contribute 34% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  

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North America is expected to dominate the market in 2022 and maintain its lead throughout the forecast period. The market is growing due to factors such as technological infrastructure, the presence of experts, and investments in research and development. Additionally, the increasing importance of operational efficiency and the rise of public-private partnerships aimed at providing more accurate and reliable weather forecasts are opening up lucrative market opportunities. According to one United Nations Environment Programme (UNEP) study, renewable energy investment increased by 1% in 2019 compared with 2018 and was valued at USD282.2 billion. The United States increased its investment in renewable energy by 28%. Overall, investment in renewable and clean energy in North America has increased steadily, especially in recent years. Such factors will have a positive impact on the growth of the regional target market during the forecast period. 

Technavio’s Exclusive Market Customer Landscape

The report includes the adoption lifecycle of the market, spanning from the innovator’s stage to the laggard’s stage. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.  

Global Market Customer Landscape

Market Dynamics and Customer Landscape

The market is witnessing significant growth driven by the increasing demand for operational weather forecasting across various industries. Utilizing quantitative data from the atmosphere, land, and oceans, weather forecasting systems provide crucial insights into weather conditions, enhancing safety and efficiency in operations. Industries such as aviation rely heavily on accurate weather solutions to mitigate risks and ensure smooth operations, especially amidst movement restrictions and catastrophic events. Moreover, agriculture productivity and environmental issues are addressed through advanced meteorology services, contributing to climate change mitigation efforts. However, security concerns persist, necessitating robust weather solutions. With the advent of advanced, energy-consuming devices, the market for weather forecasting services is poised for continued growth, serving diverse sectors, including aviation, agriculture, and marine industries, as well as media and consumer outlets. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

The market is experiencing significant growth, driven by the increasing demand from today's farmers. Agriculture, heavily dependent on weather conditions and seasons, requires accurate weather information for optimal productivity. Climate change has heightened the importance of weather and environmental risk management in agriculture, necessitating adaptive management strategies. Farmers rely on weather forecasts to plan and prepare for upcoming seasons, making advanced weather forecasting systems indispensable. These systems provide quantitative data on atmospheric conditions, land, and oceans, enabling farmers to make informed decisions and mitigate risks. With the global population expanding, the need for more agricultural goods underscores the importance of accurate weather forecasting services. As agriculture plays a vital role in feeding the world, weather forecasting services are crucial for ensuring agricultural productivity and food security.

Significant Market Trends

The rising penetration of advanced technologies is the primary trend in the global market growth. Weather forecasting facilities often use sophisticated and energy-intensive equipment and infrastructure. Environmental observation data is a rapidly growing subset of big data. As a result, weather forecasting centers must not only provide an integrated solution to meet the computing needs of weather forecasters but also transmit and manage data and bear the full costs of these operations.

Furthermore, the increase in supercomputer processing power is expected to make it easier to integrate a variety of high-resolution weather predictions and climate models, resulting in extremely accurate and exact forecasts. During the forecast period, such factors will fuel the growth of the global market.

Major Market Challenge

Complexities of weather forecasting models are a major challenge to the growth of the global market. Weather forecast models are computer programs, including highly complex computer programs, that provide real-time future weather information for specific locations. In addition, computer-aided numerical models have been designed for different weather forecast intervals, such as long-range forecasts and medium-range forecasts, and regional models under which we have the short-range forecast.

This also includes complex methods such as persistence, climatologic, looking at the sky, use of barometer, nowcasting, use of forecasting models, analog, and ensemble forecasting. Weather forecasting is a difficult discipline that relies on the effective interaction of weather observation, data processing by meteorologists and computers, and a fast communication system which makes it a highly complex procedure. Thus, the complexities of the weather forecasting model can hinder the growth of the market in focus during the forecast period.

Who are the Major Weather Forecasting Services Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AccuWeather Inc.: The company offers weather forecasting services such as AccuWeather Weather Radar App. Also, the company produces and distributes news and weather content.

Advanced Environmental Monitoring LLC: The company offers weather forecasting services under the brand, Earth Networks. Also, the company focuses on monitoring critical environmental parameters, including meteorology, hydrology, air, and soil.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

• Alfa Laval Corporate AB
• BMT Group Ltd.
• Campbell Scientific Inc.
• CSIR National Aerospace Laboratories
• Danaher Corp.
• DTN LLC
• ENAV Spa
• Environdata Weather Stations Pty Ltd.
• Fugro NV
• International Business Machines Corp.
• Met Office
• National Oceanic and Atmospheric Administration
• Precision Weather Forecasting Inc.
• Skymet Weather Services Pvt. Ltd.
• Skyview Systems

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook
  • Medium-range
  • Long-range
  • Short-range
  • Nowcasting

• Application Outlook 
  • Energy and utilities
  • Aviation
  • Media and consumer
  • Logistics and transportation
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is witnessing significant growth driven by the increasing demand for accurate weather predictions, especially in sectors like agriculture, aviation, transportation, and renewable energy. Advanced technologies such as AI, numerical weather prediction models, and satellite systems are enhancing the accuracy of forecasts, leading to improved safety, efficiency, and productivity. The market also benefits from the rise of automation and the availability of high-performance computing capabilities, enabling the development of sophisticated weather forecasting systems. However, challenges such as unpredictable weather patterns, environmental impact, and security concerns pose restraints. Nonetheless, with growing awareness of environmental preservation and the adoption of sustainable practices, the weather forecasting services market is expected to expand, catering to the needs of various industries and ensuring safety and efficiency in the face of changing climate conditions.

Moreover, the market is experiencing significant growth, driven by the increasing demand for accurate and reliable weather predictions to enhance safety, efficiency, and productivity across various sectors. Advanced, energy-consuming devices and automated systems enable the collection and analysis of atmospheric and oceanic conditions, facilitating precise forecasting. Aviation safety and efficiency benefit from air-based observation systems and air traffic controllers relying on real-time data to optimize flight paths. The market addresses environmental issues by monitoring greenhouse gas emissions and predicting climatic events like cyclones, hurricanes, floods, and snowstorms. With the integration of digital media platforms and smartphones, weather forecasts reach a wider audience, impacting decision-making in sectors such as agriculture, marine, military, and renewables. As the complexity of weather forecasting models improves, the Weather Forecasting Services Market is poised for continued growth, ensuring resilience against environmental challenges.

Weather Forecasting Services Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 9.93%
Market growth 2023-2027	USD 1.09 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.4
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AccuWeather Inc., Advanced Environmental Monitoring LLC, Alfa Laval Corporate AB, BMT Group Ltd., Campbell Scientific Inc., CSIR National Aerospace Laboratories, Danaher Corp., DTN LLC, ENAV Spa, Environdata Weather Stations Pty Ltd., Fugro NV, International Business Machines Corp., Met Office, National Oceanic and Atmospheric Administration, Precision Weather Forecasting Inc., Skymet Weather Services Pvt. Ltd., Skyview Systems, Spire Global Inc., The Tomorrow Companies Inc., and Vaisala Oyj
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview	If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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