Dublin, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The "Weather Forecasting Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global weather forecasting services market size reached US$ 1.82 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3.21 Billion by 2027, exhibiting a CAGR of 9.92% during 2021-2027.
Companies Mentioned
- AccuWeather Inc.
- AerisWeather
- BMT Group
- Custom Weather
- DTN
- ENAV S.p.A.
- Fugro
- International Business Machines Corporation
- Met Office
- Precision Weather Services
- Skymet Weather Services Pvt. Ltd.
- StormGeo AS
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Weather forecasting is the prediction of weather with the application of innovative technologies and sciences for a specific location. It also predicts various changes on the surface of the earth caused by atmospheric conditions, such as snow and ice cover, storm tides, and floods.
It assists farmers in controlling the pests and other crop diseases to spread over the field by determining the accurate period for using specific pesticides.
In addition, it helps reduce weather-related losses and enhances societal benefits, such as the protection of life and property and public health and safety. As a result, weather forecasting services are used in transportation, aviation, energy and utilities, banking, financial services and insurance (BFSI), agriculture, manufacturing, and retail sectors around the world.
The growing demand for weather forecasting services due to uncertain climate conditions and energy transitions represents one of the key factors driving the market.
Besides this, there is a rise in the utilization of weather forecasting services by farmers to determine precipitation forecasts, wind alerts, and actionable insights for managing their operations, improving yields, and maximizing profits. This, along with the increasing employment of weather forecasting services in the agriculture industry to improve the irrigation method for boosting agricultural production and farming, is contributing to the growth of the market.
Moreover, the growing employment of weather forecasting services in the aviation industry for navigation in extreme weather conditions is positively influencing the market. In addition, weather forecasting services enable safe and efficient network communications for land and sea rescue, administration, and support operations, which is propelling the growth of the market.
Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce supercomputers for ensuring accurate weather forecasts, which is expected to bolster the market growth.
Key Questions Answered in This Report:
- How has the global weather forecasting services market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global weather forecasting services market?
- What are the key regional markets?
- What is the breakup of the market based on the forecasting type?
- What is the breakup of the market based on the purpose?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global weather forecasting services market and who are the key players?
- What is the degree of competition in the industry?
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $1.82 Billion |
| Forecasted Market Value (USD) by 2027 | $3.21 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Weather Forecasting Services Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Forecasting Type
6.1 Short-range Forecasting
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Medium-range Forecasting
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Long-range Forecasting
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Purpose
7.1 Operational Efficiency
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Safety
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Organization Size
8.1 Large Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Small and Medium-Sized Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End User
9.1 Transportation
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Aviation
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Energy and Utilities
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Banking, Financial Services and Insurance (BFSI)
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Agriculture
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Media
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Manufacturing
9.7.1 Market Trends
9.7.2 Market Forecast
9.8 Retail
9.8.1 Market Trends
9.8.2 Market Forecast
9.9 Others
9.9.1 Market Trends
9.9.2 Market Forecast
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/5268gx
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