Weather Forecasting Services Market is estimated to be 5.2 Billion by 2034 with a CAGR of 6.8% during the forecasted period.

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Published Date: January 2024

The Weather Forecasting Services Market accounted for US$ 2.7 billion in 2024 and is estimated to be US$ 5.2 billion by 2034 and is anticipated to register a CAGR of 6.8%.

The report " Weather Forecasting Services Market, By Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, and Media), By Forecasting Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting), By End-Use Industry (Transportation, Aviation, Energy & Utilities, Banking Financial Services & Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2034”.

Key Highlights:

In August 2020, The Weather Company partnered with Vizzion, a provider of the largest traffic camera network in the world, to integrate traffic camera imagery, streams, and data into its Max Traffic broadcast solution.
In July 2020, AccuWeather announced its latest innovation, AccuWeather Local Hurricane Tracker, to optimize users’ safety and awareness, it shows a developing storm’s progression over the ocean while providing real-time updates of forecast wind speeds, rainfall amounts, and affected areas.

Analyst View:

Weather plays a very crucial role in almost every market sector. Weather prediction is very important in terms of safety and security across aviation, utilities, maritime, shipping, oil & gas, agriculture, media, retail, renewable energy, and insurance industries. It allows the firms to better prepare the responses to natural disasters that impact the lives of millions. Thus, these factors act as a driving factor of theweather forecasting services market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Weather Forecasting Services Market, By Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, and Media), By Forecasting Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting), By End-Use Industry (Transportation, Aviation, Energy & Utilities, Banking Financial Services & Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2034

Key Market Insights from the report:

The weather forecasting services market accounted for US$ 2.7 billion in 2024 and is estimated to be US$ 5.2 billion by 2034 and is anticipated to register a CAGR of 6.8%.The market report has been segmented on the basis of Industry, Forecasting Type, End-Use Industry and region.

Depending upon industry, the energy & utilities dominates the market due to the growing use of electric systems, increasing domestic energy demand from various countries across the globe, and the depletion of fossil fuels. This has led governments of various countries to resort to renewable sources of energy, which, in turn, boosts the energy & utilities segment.
In terms of forecasting type, short-range weather forecasting services offers cost-efficiency, improved scalability, 24x7 availability, and enhanced decision-making. Hence, short-range forecasting account for the largest share in the weather forecasting services market.
By End-Use Industry, transportation segment is estimated to be the dominating segment.
By region, North America is dominating the weather forecasting service market due to the technological advancements, such as improvements in data analytics and computer forecast models and an increase in the use of supercomputers delivering more computing power. This region has the player with the access to all the complex and advance technology to provide the most accurate information. Thus, accounts for the largest share of the market.

Competitive Landscape:

The prominent player operating in weather forecasting services market includes Skye Instruments Ltd, Columbia Weather System Inc., Morcom International, Inc., All Weather, Inc., StormGeo, BMT Group, and Fugro, Airmar Technology Corporation, Lockheed Martin Corporation, Thales Group.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered