A prominent research firm, Cognizance Market Research added a cutting-edge industry report on the “Global Weather Forecasting Services Market”. The report studies the current and past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2032.
Global Weather Forecasting Services Market Analysis:
According to cognizance market research, the Global Weather Forecasting Services Market was valued at US$ 2,236.5 Million in 2023 and is anticipated to reach US$ 4531.18 Million by the end of 2032 with a CAGR of 7.58% from 2023 to 2032.
What is the Global Weather Forecasting Services Market?
Weather forecasting services simplify the weather conditions of different places and times. Weather forecasting is an application that combines science and technology to predict the atmosphere for future times at different locations. Weather forecasting involves computing complex mathematical calculations.
The Global Weather Forecasting Services Market is used for different sectors such as aviation, agriculture, energy, transportation, manufacturing, etc. For this sector weather forecasting is important for avoiding risks and disasters.
Weather forecasting has different types such as short-range forecasting in which forecasting can be done for up to 72 hours farmers, marine agencies are the main users fore this forecasting. Medium-range forecasting is from 3 to 10 days of forecasting, and long-range forecasting is up to 1 month of forecasting.
Ongoing technological advancements in weather forecasting technology contribute to the market’s evolution, enhancing efficiency, and meeting the changing forecasting needs of the agricultural, transportation, and aviation sectors. Accurate weather forecasting is important which protects and saves lives. Global weather forecasting helps people in their particular sectors. For this weather forecasting, meteorologists have developed atmospheric models that approximate the atmosphere by using ensemble forecasting to describe how atmospheric temperature, pressure, and moisture change over time.
Global Weather Forecasting Services Market Outlook:
The Global Weather Forecasting Services Market is anticipated to maintain steady growth, driven by factors such as increasing consumer demand for accurate forecasting for different sectors.
Weather forecasting is done by collecting quantitative data about the current state of the atmosphere at a given place and using a scientific understanding of atmospheric processes to project how the atmosphere changes. Weather forecasts are based on temperature, wind speed, and relative humidity which are very important attributes for the agriculture sector as well as many other sectors.
Weather forecasting is the mathematical calculations which are used in forecasting. Increases in new technologies, artificial intelligence, and machine learning this advance tools can help in doing more accurate forecasting which increases more demand for the global weather forecasting market.
The industry may witness continued consolidation as a key player explores strategic alliances, mergers, and acquisitions to strengthen their market position, expand their product portfolios, and leverage complementary capabilities. The industry is expected to face ongoing challenges related to regulatory compliance, necessitating continuous adaptation to changing standards and requirements in different regions.
Geographically, North America is expected to witness a surge in demand for weather forecasting services due to urbanization, and increasing aviation, agricultural, and manufacturing sectors, which increases the preference for more accurate weather forecasting for planning of business and saving from the risks. The government of North America also taking initiatives and investing more in weather forecasting services which helps boost the weather forecasting services market.
Weather forecasting services, often associated with science and technology with advanced forecasting, are expected to demonstrate resilience to economic fluctuations, providing stability in demand even during challenging economic periods.
Segment Analysis:
Weather forecasting services have different types such as short-range weather forecasting, medium-range weather forecasting, and long-range weather forecasting. Short-range weather forecasting is up to 72 hours of forecasting which is useful for farmers, marines, and the general public. Medium-range weather forecasting is up to 10 days of weather forecasting, and long-range weather forecasting is 10 to 1-month forecasting.
Weather forecasting can be used for different sectors such as agriculture, aviation, manufacturing, transportation, energy & utilities, and media. Weather forecasting is most important in agricultural production. It has a profound influence on the growth, development, and yield of crops, incidence of pests and diseases, etc. For this every condition weather forecasting is important. In energy sectors, weather forecasting is important for energy creation such as solar energy and others. In aviation sectors decide where to fly and the type of aircraft used. It is important for flight planning. Having accurate information about the weather helps to optimize routes for transportation.
Geographical Analysis:
North America holds a prominent position in the Global Weather Forecasting Services Market, driven by factors such as rapid urbanization, increasing agricultural, aviation, and transportation sectors, and the demand for weather forecasting increases. Countries like China and India contribute significantly to market growth.
North America is an established market for Global Weather Forecasting Services, the advancement in the technologies which provides more accurate weather services. European countries have a growing awareness about weather forecasting which is helpful to plan and protect from risks and disasters.
Latin America experiences a growing demand for weather forecasting services, propelled by urbanization, changing consumer preferences, and an expanding middle class. Middle East & Africa the increasing the demand for weather forecasting due to growing concern about water scarcity, desertification, and extreme weather events.
The report offers the revenue of the Global Weather Forecasting Services Market for the period 2020-2032, considering 2020 to 2022 as a historical year, 2023 as the base year, and 2024 to 2032 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Weather Forecasting Services Market for the forecast period. The Global Weather Forecasting Services Market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Global Weather Forecasting Services Market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Global Weather Forecasting Services Market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global Weather Forecasting Services Market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the Global Weather Forecasting Services Market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Global Weather Forecasting Services Market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Global Weather Forecasting Services Market. The subsequent section of the Global Weather Forecasting Services Market report highlights the USPs, which include key industry events (product launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenarios.
Global Weather Forecasting Services Market Competitive Landscape:
There are several small and major firms participating in the highly fragmented Global Weather Forecasting Services Market. The new strategies formed by companies revolve around accuracy and precision. The following are some of the major market participants:
The report explores the competitive scenario of the Global Weather Forecasting Services Market. Major players working in the Global Weather Forecasting Services Market have been named and profiled for unique commercial attributes. Company overview (company description, product portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Global Weather Forecasting Services Market report.
Segmentation:
Global Weather Forecasting Services Market, By Forecasting Type:
Global Weather Forecasting Services Market, By End-use Industry:
Global Weather Forecasting Services Market, by Region:
Research Methodology: Aspects
Market research is a crucial tool for organizations aiming to navigate the dynamic landscape of customer preferences, business trends, and competitive landscapes. At Cognizance Market Research, acknowledging the importance of robust research methodologies is vital to delivering actionable insights to our clientele. The significance of such methodologies lies in their capability to offer clarity in complexity, guiding strategic management with realistic evidence rather than speculation. Our clientele seek insights that excel superficial observations, reaching deep into the details of consumer behaviours, market dynamics, and evolving opportunities. These insights serve as the basis upon which businesses craft tailored approaches, optimize product offerings, and gain a competitive edge in an ever-growing marketplace.
The frequency of information updates is a cornerstone of our commitment to providing timely, relevant, and accurate insights. Cognizance Market Research adheres to a rigorous schedule of data collection, analysis, and distribution to ensure that our reports reflect the most current market realities. This proactive approach enables our clients to stay ahead of the curve, capitalize on emerging trends, and mitigate risks associated with outdated information.
Our research process is characterized by meticulous attention to detail and methodological rigor. It begins with a comprehensive understanding of client objectives, industry dynamics, and research scope. Leveraging a combination of primary and secondary research methodologies, we gather data from diverse sources including surveys, interviews, industry reports, and proprietary databases. Rigorous data analysis techniques are then employed to derive meaningful insights, identify patterns, and uncover actionable recommendations. Throughout the process, we remain vigilant in upholding the highest standards of data integrity, ensuring that our findings are robust, reliable, and actionable.
Key phases involved in in our research process are mentioned below:
Understanding Clients’ Objectives:
Extensive Discussions and Consultations:
Industry and Market Segment Analysis:
Target Audience Understanding:
Identifying Challenges and Opportunities:
Grasping Specific Goals:
Data Collection:
Primary Research Process:
Secondary Research Process:
Data Analysis:
The data analysis phase serves as a critical juncture where raw data is transformed into actionable insights that inform strategic decision-making. Through the utilization of analytical methods such as statistical analysis and qualitative techniques like thematic coding, we uncover patterns, correlations, and trends within the data. By ensuring the integrity and validity of our findings, we strive to provide clients with accurate and reliable insights that accurately reflect the realities of the market landscape.
Transformation of Raw Data:
Utilization of Analytical Methods:
Statistical Analysis:
Qualitative Analysis Techniques:
Integrity and Validity Maintenance:
Data Validation:
The final phase of our research methodology is data validation, which is essential for ensuring the reliability and credibility of our findings. Validation involves scrutinizing the collected data to identify any inconsistencies, errors, or biases that may have crept in during the research process. We employ various validation techniques, including cross-referencing data from multiple sources, conducting validity checks on survey instruments, and seeking feedback from independent experts or peer reviewers. Additionally, we leverage internal quality assurance protocols to verify the accuracy and integrity of our analysis. By subjecting our findings to rigorous validation procedures, we instill confidence in our clients that the insights they receive are robust, reliable, and trustworthy.
Importance of Data Validation:
Scrutiny of Collected Data:
Validation Techniques:
Internal Quality Assurance Protocols:
Report Scope:
Attribute
Description
Market Size
US$ 4,531.18 Million (2032)
Compound Annual Growth Rate (CAGR)
7.58%
Base Year
2023
Forecast Period
2024-2032
Forecast Units
Value (US$ Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Geographies Covered
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Countries Covered
U.S., Canada, Germany, U.K., France, Spain, Italy, Rest of Europe, Japan, China, India, Australia & New Zealand, South Korea, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC, South Africa, Rest of Middle East & Africa
Key Companies Profiled
The Weather Company, AccuWeather, AerisWeather, BMT Group, Custom Weather, DTN, Fugro, Met Office, Skymet Weather Service Pvt., ENAV SPA, StormGeo, Meteoblue AG, Precision Weather Services, and Earth Network.
It was Valued at US$ 2,236.5 million in 2023.
It is projected to reach more than US$ 4,531.18 Million by 2032.
It is anticipated to be 7.58% from 2024 to 2032.
Trend: New advancements in technology such as artificial intelligence, and machine learning provide more accurate weather forecasting. Increasing the weather events the demand for weather forecasting is increasing.
Driver: Governments are investing more in weather forecasting services which helps to avoid the risks, also the various sectors such as agriculture, and aviation are more dependent on accurate weather forecasting.
Opportunities: climate change adaptation strategies create opportunities for weather forecasting services. The presence of weather forecasting services in mobiles, and wearable devices the opportunity increases to provide more innovative services.
Challenges: limited access to high-quality data, competition from providers and price pressure are some challenges in the Global Weather Forecasting Services Market.
The Weather Company, AccuWeather, AerisWeather, BMT Group, Custom Weather, DTN, Fugro, Met Office, Skymet Weather Service Pvt., ENAV SPA, StormGeo, Meteoblue AG, Precision Weather Services, and Earth Network.
50% Off
We can customize every report – free of charge – including purchasing stand-alone sections or country-level reports
We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail
Cognizance market research is continuously guiding customers around the globe towards strategies for transformational growth. Today, businesses have to innovate more than ever before, not just to survive, but to succeed in the future
© 2023 All rights Reserved. Cognizance Market Research
