Weather Forecasting Services Market Share 2021, Size Estimation, Industry Demand, Growth Strategies, Latest Trend Analysis, Impact of Covid-19, Top Players, Revenue, Forthcoming Development Status and Forecast to 2027

Weather forecasting services can be defined as a technique that implements software, tools, and models, which perform the strategic analysis of atmospheric data to predict weather conditions for a particular location under a stipulated time frame. The process of forecasting follows the functionalities of meteorology. Massive volume of structured and unstructured data is utilized by weather forecasting models to deliver improved analytical output that enables optimization of business revenues for various end-use industries.

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Weather forecasting services are currently implemented by transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, others.

The global weather forecasting services market was valued at $1,205 million in 2016, and is projected to reach $2,777 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023.

The growth of the weather forecasting services market is majorly driven by growth in demand for real-time weather management, increase in demand for performance optimization, development associated with end-use industries, rise in safety concerns among various end-use industries, and others. However, dearth of trained professionals, complexities associated with weather prediction models, and uncertainty of weather prediction are expected to restrain the weather forecasting services market growth. Increase in the production of renewable energy and growth of transportation industry among developing regions are expected to provide lucrative opportunities for market growth.

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The global weather forecasting services market is segmented based on forecasting type, end-use industry, and region. On the basis of forecasting type, the market is divided into short-range forecasting, medium-range forecasting, and long-range forecasting. By end-use industry, it is classified into transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key market players that operate in the market are Global Weather Corporation, Accuweather Inc., BMT Group, Skymet Weather services Pvt., Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A, Met Office, and Skyview Systems Ltd.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global weather forecasting services market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the weather forecasting services market to determine the investment pockets of the market.
Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
The quantitative analysis of the weather forecasting services market growth from 2016 to 2023 is provided to elaborate the market potential.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

Key Market Segments

By forecasting type

Short-range Forecasting
Medium-range Forecasting
Long-range Forecasting

By end-use industry

Transportation
Aviation
Energy & Utilities
Banking Financial Services & Insurance (BFSI)
Agriculture
Media
Manufacturing
Retail
Others

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BY Region

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Arica

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the weather forecasting services market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market's growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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