The Worldwide Weather Forecasting Services Industry is Expected to Reach $2.7 Billion by 2028

DUBLIN, Jan. 14, 2022 /PRNewswire/ -- The "Weather Forecasting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.

The global weather forecasting services market is expected to grow from US$ 1,501.00 million in 2021 to US$ 2,732.52 million by 2028; it is estimated to grow at a CAGR of 8.9% during 2021-2028.

With a constant increase in the temperature and the air becoming warmer, water evaporation has intensified, leading to frequent downpours and heavy snowfall. This heavy precipitation is not spread evenly across the world with some places not getting required amount of precipitation. Since climate change causes a shift in air and ocean currents, it changes weather patterns. The rising incidence of natural disasters due to undesired climatic changes and subsequent security concerns has surfaced as the key factor behind the growth in the global weather forecasting services market. Advanced and reliable weather forecasting achieved within the stipulated time can lead to significant cost savings and also help with protection against catastrophes and natural disasters. The technological advancements in computing systems, such as advanced data analytics, model development, and machine learning tools and techniques, are likely to boost the demand for weather forecasting services during the forecast period.

The weather forecasting services market is segmented on the basis of industry, purpose, forecasting type, organization type, and geography. Based on industry, the market is segmented into agriculture, aviation, marine, transport and logistics, energy and utilities, oil and gas, media, insurance, retail, construction and mining, and others. Based on purpose, the market is segmented into operational efficiency, safety, and others. By forecasting type, the market is segmented into nowcast, short range, medium range, and long range. Based on organization size, the weather forecasting services market is bifurcated into large enterprises and small and medium-sized enterprises. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific accounted for the significant share in the global market.

The impact of COVID-19 pandemic differed from country to country across Europe as selected countries witnessed an increase in the number of COVID-19 recorded cases and subsequently attracted strict and more extended lockdown periods or social isolation. Due to the pandemic, electronics equipment and associated services have been significantly affected. The pandemic has restricted the supply chain in various countries in Europe. The member states of Europe, such as Italy, Spain, and Germany, implemented drastic measures and travel restrictions to limit the spread of novel coronavirus among its citizens. European countries represent a leading share in the market as this region has the highest environmental safety standards in the world. However, due to the disrupted supply chain of hardware components that used to control the after-effects of natural disasters, the market has been significantly affected and weather forecasting services have been reporting delays.

The production of various electronics devices and associated weather forecasting services have also seen a sharp decline in European countries due to the COVID-19 pandemic, which is expected to remain under stress in the next couple of years. Furthermore, the recent imposition of containment measures, owing to the spread of newly mutated strain might hamper the market in this region in the near future.

A few key companies operating in the global weather forecasting services market are Global Weather Corporation, Accuweather, Inc., BMT Group Ltd., Skymet Weather Services Pvt. Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A., Met Office, and Skyview Systems Ltd. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.

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Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Weather Forecasting Services Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Overview
4.5.1.1 Weatherbit.io
4.5.1.2 AccuWeather
4.5.1.3 Weather Underground
4.5.1.4 World Climate Service
4.5.1.5 Weather Source
4.5.1.6 Meteomatics

5. Weather Forecasting Services Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Changing Climate Patterns Resulting in Uncertainties in Rainfall
5.1.2 Significant Investment into Clean Energies and Government Support
5.2 Market Restraints
5.2.1 Rising Complexity Associated with Weather Forecasting Models
5.3 Market Opportunities
5.3.1 Increasing Adoption of Technologically Advanced Systems Among Airports
5.4 Future Trends
5.4.1 Uptake of Advanced Technologies in Weather Forecasting Services
5.5 Impact Analysis of Drivers and Restraints

6. Weather Forecasting Services Market - Global Market Analysis
6.1 Global Weather Forecasting Services Market Overview
6.2 Global Weather Forecasting Services Market Forecast and Analysis
6.3 Market Positioning- Top Five Players

7. Weather Forecasting Services Market Analysis - By Industry
7.1 Overview
7.2 Weather Forecasting Services, by Industry (2020 and 2028)
7.3 Agriculture
7.3.1 Overview
7.3.2 Agriculture: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Aviation
7.4.1 Overview
7.4.2 Aviation: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Marine
7.5.1 Overview
7.5.2 Marine: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Transport and Logistics
7.6.1 Overview
7.6.2 Transport and Logistics: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Energy and Utilities
7.7.1 Overview
7.7.2 Energy and Utilities: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.8 Oil and Gas
7.8.1 Overview
7.8.2 Oil and Gas: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.9 Media
7.9.1 Overview
7.9.2 Media: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.10 Insurance
7.10.1 Overview
7.10.2 Insurance: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.11 Retail
7.11.1 Overview
7.11.2 Retail: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.12 Construction and Mining
7.12.1 Overview
7.12.2 Construction and Mining: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
7.13 Others
7.13.1 Overview
7.13.2 Others: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)

8. Weather Forecasting Services Market Analysis - By Purpose
8.1 Overview
8.2 Weather Forecasting Services, by Purpose (2020 and 2028)
8.3 Operational Efficiency
8.3.1 Overview
8.3.2 Operational Efficiency: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Safety
8.4.1 Overview
8.4.2 Safety: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)

9. Weather Forecasting Services Market Analysis - By Forecasting Type
9.1 Overview
9.2 Weather Forecasting Services, by Forecasting Type (2020 and 2028)
9.3 Nowcast
9.3.1 Overview
9.3.2 Nowcast: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Short-Range
9.4.1 Overview
9.4.2 Short-Range: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Medium-Range
9.5.1 Overview
9.5.2 Medium-Range: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Long-Range
9.6.1 Overview
9.6.2 Long-Range: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)

10. Weather Forecasting Services Market Analysis - By Organization Size
10.1 Overview
10.2 Weather Forecasting Services, by Organization Size (2020 and 2028)
10.3 Small and Medium-Sized Enterprises
10.3.1 Overview
10.3.2 Small and Medium-Sized Enterprises: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Large Enterprises
10.4.1 Overview
10.4.2 Large Enterprises: Weather Forecasting Services Market - Revenue and Forecast to 2028 (US$ Million)

11. Weather Forecasting Services Market - Geographic Analysis

12. Weather Forecasting Services Market - COVID-19 Impact Analysis
12.1 North America
12.2 Europe
12.3 APAC
12.4 MEA
12.5 SAM

13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition

14. Company Profiles
14.1 AccuWeather, Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 SKYVIEW SYSTEMS
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 IBM Corporation
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 DTN
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 StormGeo
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Fugro
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 ENAV S.p.A.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 The Tomorrow Companies Inc.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 BMT GROUP LTD
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Precision Weather
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 GLOBAL WEATHER CORPORATION.
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments

15. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/2oh0ra

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