Weather Forecasting Services Market worth $5.80 billion by 2030, growing at a CAGR of 11.53% - Exclusive Report by 360iResearch

The "Weather Forecasting Services Market by Forecasting Type (Long-Range Forecasting, Medium-Range Forecasting, Short-Range Forecasting), Purpose (Operational Efficiency, Safety), End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Weather Forecasting Services Market to grow from USD 2.70 billion in 2023 to USD 5.80 billion by 2030, at a CAGR of 11.53%.

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The global weather forecasting services market comprises businesses and organizations that provide predictive atmospheric data to diverse industries such as agriculture, aviation, and energy management, among others. Weather forecasting services include collecting and analyzing environmental data using computing technologies to provide correct insights to customers. The global weather forecasting services market is rapidly growing owing to the increasing reliance on accurate forecasts by the agricultural industry for operational optimization and safety. Further, the advent of customized forecasting solutions tailored specifically to meet specific industry weather forecasting requirements is generating a stronger outlook for the global weather forecasting services market. However, high initial investments for hardware upgrades and the inherently uncertain nature of weather forecasting raise challenges in achieving consistent growth. Besides the challenges, technological advancements, including artificial intelligence (AI), machine learning (ML), and remote sensing techniques, have significantly improved forecast accuracy over the years. Additionally, real-time monitoring through satellite imagery and IoT devices such as smart sensors and integrating big data analytics are expected to refine the predictive capabilities of weather forecasting services.

The American weather forecasting services market is rapidly growing owing to advanced technology infrastructure, a well-established meteorological network, and strong government support. The United States has been a pioneer in weather forecasting since the early 20th century with institutions including the National Oceanic and Atmospheric Administration (NOAA), which operates sophisticated models to predict regional and global weather patterns. In recent years, private companies have emerged to provide specialized weather forecasting services that cater to specific industries such as aviation, shipping, energy production, agriculture, insurance, and outdoor events management, among others. Europe has witnessed significant growth in demand for accurate short-range forecasts that can be helpful in managing renewable energy sources such as wind farms and solar installations. The European Centre for Medium-Range Weather Forecasts (ECMWF) plays an integral role in providing reliable predictions used by governments and private sector entities. In the Middle East and Africa, accurate weather forecasting is essential for managing water resources and dealing with extreme climate conditions such as droughts and heat waves. The Asia-Pacific region is projected to witness the highest growth rate in the weather forecasting services market, attributed to rapid urbanization, industrial development, and increasing dependence on renewable energy sources. In countries including India and China, where agriculture remains a significant contributor to GDP, accurate weather services forecasts are vital in ensuring food security for millions of people.

Market Segmentation & Coverage:

This research report categorizes the Weather Forecasting Services Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Forecasting Type, market is studied across Long-Range Forecasting, Medium-Range Forecasting, and Short-Range Forecasting. The Short-Range Forecasting is projected to witness significant market share during forecast period.

Based on Purpose, market is studied across Operational Efficiency and Safety. The Safety is projected to witness significant market share during forecast period.

Based on End-User, market is studied across Agriculture, Aviation, Banking Financial Services & Insurance, Energy & Utilities, Manufacturing, Media, Retail & Consumer Goods, and Transportation. The Aviation is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Weather Forecasting Services Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Weather Forecasting Services Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Weather Forecasting Services Market, highlighting leading vendors and their innovative profiles. These include Aaizel International Technologies Private Limited, AccuWeather, Inc., Advanced Environmental Monitoring LLC, AerisWeather by Vaisala Oyj, Campbell Scientific, Inc., CoralComp Private Limited, CustomWeather, Inc., DTN, Inc., Earth Networks, Inc., ENAV S.p.A., Fugro, Infoplaza BV, Jupiter Intelligence, Inc., Meteo-Logic Ltd., METEOSIM SL, Precision Weather Services, Saildrone, Inc., Skymet Weather Services Pvt., Speedwell Weather Ltd., StormGeo AS, TempoQuest Inc., The Tomorrow Companies Inc., Weather Routing, Inc., and WeatherBELL Analytics LLC.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Weather Forecasting Services Market, by Forecasting Type
7. Weather Forecasting Services Market, by Purpose
8. Weather Forecasting Services Market, by End-User
9. Americas Weather Forecasting Services Market
10. Asia-Pacific Weather Forecasting Services Market
11. Europe, Middle East & Africa Weather Forecasting Services Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Weather Forecasting Services Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Weather Forecasting Services Market?
3. What is the competitive strategic window for opportunities in the Weather Forecasting Services Market?
4. What are the technology trends and regulatory frameworks in the Weather Forecasting Services Market?
5. What is the market share of the leading vendors in the Weather Forecasting Services Market?
6. What modes and strategic moves are considered suitable for entering the Weather Forecasting Services Market?

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