Weather Forecasting Services Market Expansion Continues, with Forecast Valuation of $3.57 Billion by 2029

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What Is the Expected CAGR for the Weather Forecasting Services Market Through 2025?
There has been a swift expansion in the size of the weather forecasting services market in the past few years. The market, which is currently worth $2.26 billion in 2024, is predicted to inflate to $2.49 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.1%. Factors like heightened awareness and readiness, globalization in the business sector, government-backed investments in meteorology, the effects of severe weather circumstances, and precise agricultural methodologies can be credited for the growth in this period.

What's the Projected Size of the Global Weather Forecasting Services Market by 2029?
The market size of weather forecasting services is slated for considerable growth in the future. The sector is projected to grow to $3.57 billion by 2029, marking a compound annual growth rate (CAGR) of 9.4%. The surge during the predicted period can be accredited to the advent of climate modelling, the growing need for renewable energy, incorporation with the Internet of Things (IoT), improvements in emergency management systems, and collaborations between public and private sectors. Key trends likely to shape the forecast period include the integration of technology in aviation, developments in meteorological technology, progressive strides in numerical weather prediction, the advent of hyper-local weather forecasting, and the expansion of predicting extreme weather conditions.

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Top Growth Drivers in the Weather Forecasting Services Industry: What's Accelerating the Market?
The augmentation in weather surveillance for disaster management is predicted to drive the expansion of the weather forecasting services market in the future. These services use environmental observation equipment to gather and interpret weather information, aiding in strategic decision-making. The high precision and reliability of these services are essential for both weather surveillance and monitoring climate change. For example, according to Access Partnership, a Belgium-based public policy consultancy specializing in technology, the worldwide yearly count of natural disasters is forecasted to surge by 37% (from 442 to 541 incidents) by 2025. As such, weather surveillance for disaster management is fueling the growth of the weather forecasting services market.

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What Are the Key Trends Driving Weather Forecasting Services Market Growth?
Technological progress constitutes a significant trend in the field of weather forecasting services. Firms in this market are leveraging technology, like artificial intelligence, to maintain their competitive edge. Jua.ai AG, a Swiss firm specializing in AI-based climate data, is a case in point. In October 2022, they rolled out an AI-infused platform designed to provide tailor-made weather patterns to the meteorology sector. This innovative weather prediction model can forecast various weather-associated factors, such as rainfall, wind speed, atmospheric pressure, and wind direction. Additionally, it's updated every 15 minutes, contributing significantly to enhancing the prediction of severe conditions. In terms of spatial resolution, it is 25 times better, and in terms of time resolution, it's ten times superior to traditional options.

What Are the Main Segments in the Weather Forecasting Services Market?
The weather forecasting services market covered in this report is segmented -

1) By Type: Onshore Weather Forecasting Services, Offshore Weather Forecasting Services
2) By Forecast Type: Nowcast, Short-Range, Medium Range, Extended Range, Long Range
3) By Purpose: Operational Efficiency, Safety
4) By Organization Size: Large Enterprises, Small And Medium Enterprises
5) By Industry: Transportation, Aviation, Energy And Utilities, Banking Financial Services And Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, Other Industries

Subsegments:
1) By Onshore Weather Forecasting Services: Local Weather Forecasts, National Weather Forecasts, Climate Monitoring Services
2) By Offshore Weather Forecasting Services: Marine Weather Forecasts, Coastal Weather Forecasts, Weather Routing Services

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Which Top Companies are Driving Growth in the Weather Forecasting Services Market?
Major companies operating in the weather forecasting services market include AccuWeather Inc., Fugro NV, Met Office, The Weather Company (IBM), StormGeo AS, Precision Weather Service, DTN LLC, Earth Networks Inc., Spire Global Inc., The Tomorrow Companies Inc., ENAV S.p.A., BMT Group, Skymet Weather Services Pvt. Ltd., Skyview Systems Ltd., Jupiter Intelligence Inc., Weather Intelligence Pty. Ltd., WeatherBELL Analytics LLC, AerisWeather Inc., Custom Weather Inc., Vaisala Oyj, Ubimet GmbH, Clear Science Inc., Weather Source LLC, PESSL INSTRUMENTS GMBH, Weather Underground Inc., Climacell Inc., Windfinder GmbH, Meteoblue AG, Weatherbit Inc., Foreca Ltd., European Centre for Medium-Range Weather Forecasts, National Centers for Environmental Prediction

Which Regions Will Dominate the Weather Forecasting Services Market Through 2029?
North America was the largest region in the weather forecasting services market in 2024. The regions covered in the weather forecasting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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