Dublin, June 29, 2022 (GLOBE NEWSWIRE) -- The "Weather Forecasting Services Market Size, Share & Trends Analysis Report By Forecast (Nowcasting, Short-range), By Organization Size, By Industry, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Weather Forecasting Services Market Growth & Trends
The global weather forecasting services market size is expected to reach USD 4.0 billion by 2030, according to a new report. The market is expected to expand at a CAGR of 6.7% from 2022 to 2030.
Many businesses and industries such as aviation, agriculture, marine, transportation and logistics, and renewables are weather-sensitive, requiring highly accurate weather forecasting services and solutions to make decisions and operate efficiently. Climate change has led to more frequent extreme weather events, driving the demand for weather forecasting services worldwide.
Many weather forecasting service providers offer tailored solutions to industries, meeting application-specific needs. Technological advancements such as Artificial Intelligence (AI) and Machine Learning (ML) are expected to aid in improving the weather forecast quality. Many players also offer data and analytics weather solutions to their clients, helping them mitigate risks and operate more efficiently. Market players are investing in research and technology such as automation and supercomputers for providing highly accurate weather forecasts.
Weather Forecasting Services Market Report Highlights
- In terms of forecast, the medium-range segment accounted for the largest revenue share in 2021 and is anticipated to expand at the highest CAGR over the forecast period. This can be attributed to the increasing demand and improvement in the accuracy of medium-range forecasts across industries
- By organization size, the large enterprises segment accounted for the largest revenue share in 2021 and is expected to retain its lead over the forecast period. This can be attributed to factors such as advanced technological infrastructure and larger investments by enterprises
- Based on industry, the media segment dominated the market in 2021. The aviation segment accounted for the second-largest revenue share in 2021. The renewables segment is expected to expand at the highest CAGR of 7.1% over the forecast period owing to the energy transition worldwide
- North America held the largest revenue share in 2021 and is expected to retain its position over the forecast period. This can be attributed to the presence of a large number of weather forecasting service players in the region. The Asia Pacific region is anticipated to expand at the highest CAGR of over 6.8% over the forecast period
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends & Scope
Chapter 4. Weather Forecasting Services Market: Forecast Estimates & Trend Analysis
4.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2030 (Usd Million)
4.2 Forecast Movement Analysis & Market Share, 2021 & 2030
4.3 Nowcasting
4.4 Short-Range
4.5 Medium-Range
4.6 Long-Range
Chapter 5. Weather Forecasting Services Market: Organization Size Estimates & Trend Analysis
5.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2030 (Usd Million)
5.2 Organization Size Movement Analysis & Market Share, 2021 & 2030
5.3 Large Enterprises
5.3.1 Market Size Estimates and Forecasts, 2017 - 2030 (Usd Million)
5.4 Small & Medium Enterprises
5.4.1 Market Size Estimates and Forecasts, 2017 - 2030 (Usd Million)
Chapter 6. Weather Forecasting Services Market: Industry Estimates & Trend Analysis
6.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2030 (Usd Million)
6.2 Industry Movement Analysis & Market Share, 2021 & 2030
6.3 Agriculture
6.4 Aviation
6.5 Energy & Utilities
6.6 Renewables
6.7 Retail
6.8 Manufacturing
6.9 Media
6.10 Logistics & Transportation
6.11 Marine
6.12 Others
Chapter 7. Weather Forecasting Services Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
8.1 Key Competitor Overview, 2021
8.2 Recent Developments & Impact Analysis, by Key Market Participants
8.3 Heat Map Analysis
8.4 List of Market Players
8.5 Vendor Landscape
Chapter 9. Competitive Landscape
Companies Mentioned
- AccuWeather, Inc.
- Fugro
- DTN
- Earth Networks
- STormGeo
- The Tomorrow Companies Inc.
- Precision Weather Service
- Met Office
- Spire Global
- The Weather Company (IBM)
For more information about this report visit https://www.researchandmarkets.com/r/ujye0c
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