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Weather Forecasting Services Market size was valued USD 1.63 Billion in 2020 in 2020, and is projected to reach USD 4.19 Billion by 2030, registering a CAGR of 10.3% from 2021 to 2030
The global weather forecasting services market size was valued USD 1.63 Billion in 2020 in 2020, and is projected to reach USD 4.19 Billion by 2030, registering a CAGR of 10.3% from 2021 to 2030.
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Rise in Safety Concerns among End-use Industries
Aviation, energy, agriculture, retail, media, and other businesses all employ weather forecasting systems. Forecasting services give early warnings of weather changes, allowing these businesses to plan weather-sensitive activities at the appropriate time, ensuring safety and sustainability. As these businesses' security and safety concerns grow, the need for weather forecasting services continues to develop in order to avert ecological calamities and natural disasters while also growing income streams. The aviation industry, for example, relies on forecasting services to stay up to current on air traffic control and weather. Furthermore, weather forecasting services provide sturdy communication services and products to help the unique requirements of government-centric maritime operations.
Technological Advancements in Computing Systems
The expansion of the weather prediction industry has been spurred by consistent technical breakthroughs in computing systems. A doppler radar, for example, is used to identify a microburst, a form of wind shear that occurs near the ground as a result of a thunderstorm's outflow. The terminal doppler weather radar detects and automatically reports the airspeed loss associated with low altitude wind shear. Furthermore, dual polarization technology allows forecasters to distinguish between different forms of precipitation and their amounts with greater confidence. The U.S. Navy's powerful radar technology offers a lot of potential for improving weather forecasting. Such advances create a substantial industry expansion potential. Moreover, weather forecasting services enable secure and interoperable network communications for land operations and critical marine operations such as rescue, administrative, and support functions.
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Weather Forecasting Services Market by Forecasting Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting) and End-use Industry (Transportation, Aviation, Energy & Utilities, BFSI, Agriculture, Media, Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
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