Weather Data Service Market Growth Opportunities by 2027

Weather data services are an efficient approach to access weather prediction and historical weather observation data, which aids in the periodic monitoring of climatic conditions. Weather data services assist in collecting data from worldwide weather data providers, who collect weather data from the globe's surface area. Weather forecasting services are widely used in numerous businesses to improve safety and decrease losses caused by natural catastrophes.

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Global warming is triggered by increased weather and climatic changes. Weather data service adoption is expected to increase to monitor these weather changes throughout the forecast period. Artificial intelligence (AI) and machine learning (ML) technology in weather monitoring systems to monitor and examine real-time meteorological databases are likely to drive the weather data services market over the forecast period. The increased use of weather data services in the weather forecast department allows accurate weather forecasting up to 13 days in advance.

Weather data is collected by Doppler radar, radiosondes, weather satellites, wind vanes, anemometers, transmissometers, and hygrometers. Weather data is used across industries to predict weather conditions. Weather data service providers provide weather data APIs (Application Programming Interfaces) and weather mapping platforms. The growth of the weather data services market can be attributed to the rising need for accurate weather forecasts across industries and the optimization of risk management with weather forecasts.

The demand for weather data services is also increasing, with an increasing need for analyzing climate change. Weather data has wide implications for climate change analytics and weather forecasting services. Integrating artificial intelligence, 5G, and big data into weather data has created an opportunity for the weather data services market. Many government and non-government organizations use weather data to analyze the volatility of their potential markets. Integrating weather data with predictive analysis has implications for weather forecasting, weather observation, climate change analytics, and climate modeling. Weather data is used in surface, upper air, radar, and satellite observations. Weather observation uses weather data to analyze climatology to forecast the weather and issue weather alerts globally. Hence, weather data services offer an initial data input to get the projected value to predict future weather conditions.

Many businesses regularly use weather forecasting services to study consumer behavior, logistics, and weather patterns. Various economic sectors, including energy, retail, transportation, and insurance, depending on weather forecasting services to enhance safety and operational efficiency. For example, retailers analyze seasonal climate patterns as weather conditions affect merchandising and operations. Demand for real-time weather prediction solutions and a growing focus on safety among end-use industries drive the growth of the weather data services market.

The constellation of CubeSats and smallsats offers opportunities for the weather data services market. According to a report published by Euroconsult in 2019, more than 8,500 satellites are expected to be launched globally by commercial companies between 2019 and 2028, half of which will support broadband constellations for a total market value of USD 42 billion. Around 580 small satellites are estimated to be launched globally from 2018 to 2022. In 2018, 322 small satellites were launched globally by commercial companies through 44 launches. Spire is one of several companies developing smallsat systems to collect data through GPS radio occultation, where satellites receive signals from Global Positioning System satellites that pass through the Earth's atmosphere. Those signals can serve as probes of the atmosphere, providing data about conditions that can be incorporated into weather models to improve the accuracy of forecasts. With the increasing availability of cost-effective data and imagery derived from small satellites, new opportunities are emerging to create customized applications for the needs of public organizations, companies, and consumers.

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Several key players operating in the weather data services market are focused on launching new services to consolidate their presence in the market. They are undertaking rapid technological innovations. Major players in the weather data services market include Open Weather Map (UK), The Weather Company (US), AccuWeather, Inc. (US), DTN (US), Understory (US), Meteomatics (Switzerland), Weather Underground (US), Meteoblue (Switzerland) and Weather Source (US).

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