Weather Forecasting Services Market

The global weather forecasting services market is foreseen to grow by 9.4%, from USD 1,654.2 Million in 2021 to USD 3,394.2 Million in 2029. Demand for weather forecasting services in modern-day agriculture, improving safety in airplane operations, integration of weather forecasting services by transport and logistics sectors is to drive the market for the upcoming forecast period. However, complexity and lack of specialized weather forecasting models, dynamic nature of atmospheric variables remains one factor hindering the market growth over the anticipated period.

On the basis of forecast type, the market is segmented into nowcast, short-range, medium-range, extended-range, long-range. On the basis of purpose, the market is segmented into operational efficiency, safety, others. On the basis of organization size, the market is segmented into large enterprises, small & medium-sized enterprises. On the basis of industry, the market is segmented into agriculture & forestry, aviation, marine, transport & logistics, energy & utilities, oil & gas, media, insurance retail, construction & mining.

The companies have focused on various strategies like new product launches, acquisitions, and mergers to strengthen their market position and expand the market share. Major players in the Weather forecasting services market include BMT Group Ltd., Customweather, DTN, Earth Networks, Enav S.P.A., Fugro, Global Weather Corporation, Jupiter Intelligence, Met Office, Meteologic, Meteosim, Precision Weather, Saildrone, Skymet Weather Services Pvt.Ltd., Skyview Systems Ltd., Speedwell Weather Ltd., Stormgeo, Tempoquest, The Weather Company, Tomorrow.Io, Ubimet Gmbh.

Market Definition

What is Weather Forecasting Services?

Weather forecasting services are a set of decision-support solutions used to carry out weather-sensitive operations to safeguard people, assets, and profits and improve business performance.

Market Overview

The weather forecasting services market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market. Moreover, the DRO in the Weather Forecasting Services market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global weather forecasting services market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Weather forecasting services market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the weather forecasting services market and highlights the optimistic, competitive landscape and trends enduring over the years.

Top Impacting Factors

Improving safety in airplane operations

Weather can significantly affect airplane operations. Low cloud, fog and rain may impede visibility at or around an airport, while thunderstorms and lightning can cause severe disruption to flight schedules. Accurate weather is critical to aviation, as it can significantly impact the flight – both economically and physically- especially on commercial airlines.

Weather forecasting service plays an essential role in airplane operations. According to The International Civil Aviation Organization (ICAO), flight safety has been a primary concern. Growing safety concerns and advancements in airplane operations have led to a more accurate forecast for different weathers. For instance, the implementation of two global initiatives: the World Area Forecast System (WAFS) and the International Airways Volcano Watch (IAVW), has helped a smooth operation of the airplane industry over the estimated period.

Growth of renewable energy sector

According to the International Energy Agency, the world's renewable energy capacity jumped 45% in 2020. It's the most significant annual rate of increase since 1999. The rise of volatile wind and solar power in Germany's electricity generation is one of the driving factors for the growth of the renewable energy sector.

For instance, German power supplier Next Kraftwerke operates a large-scale virtual power plant that integrates many renewable facilities – wind power, solar PV, biogas – into one virtual complex. Thus predicting the power feed-in is much better than other electricity marketers.

Integration of weather forecasting services by transport and logistics sectors

The transport and logistics sectors have a different approach to weather safety, and to continue their operations in various regions, they follow separate customized weather information. The rise in weather-related automobile crashes has witnessed a surge in demand for weather forecasting services over the estimated period. For instance, according to the U.S. Department of Transport (DOT), weather-related automobile crashes have killed an average of 5,376 people annually, accounting for about 16 per cent of all vehicular deaths, with more than 418,000 injuries each year.

For comparison, the 10-year average combined number of deaths each year from flooding, lightning, tornadoes, hurricanes and heat is 379.

Figure 1 Average annual number of deaths by weather type during the last 30 years.