Weather Forecasting Services Market to Witness an Outstanding Growth
According to our latest market study on “Weather Forecasting Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Industry, Purpose, Forecasting Type, and Organization Size,” the market was valued at US$ 1,501.00 million in 2021 and is projected to reach US$ 2,732.2 million by 2028; it is expected to grow at a CAGR of 8.9% from 2021 to 2028.
Weather forecasting is a consulting service that delivers real-time forecasts and aids in efficient day-to-day planning and informed decision-making in various industrial settings. Advanced weather notifications enable enterprises to plan weather-sensitive operations ahead of time, ensuring safety, efficiency, better sustainability, and significant cost savings. Weather forecasting services are used extensively in various industries, including oil and gas, renewable energy, shipping, media, agriculture, aviation, utilities, and construction. Over the projection period, the renewable energy sector is expected to dominate the market, owing to increased electricity consumption and energy requirements in various end-use industries.
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The weather forecasting services market is broadly segmented into five major regions — North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America led the market in 2020. Rising demand for weather forecasting based on big data analytics is one of the critical reasons to propel the growth of the weather forecasting services market. Furthermore, the changing climate pattern has resulted in rainfall uncertainties. Weather forecasting is a consulting service that provides real-time forecasts and assists in daily planning and informed decision-making in a range of industrial contexts.
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The key players operating in the market include 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.., among others. Several other market players have been analyzed to understand the market. The listing of key players is derived by considering multiple factors such as overall revenue, current weather forecasting services portfolio, geographical reach, new product launches, market initiatives, and investment in technology upgradation, partnerships, and other market related activities.
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