DUBLIN--(BUSINESS WIRE)--The "Weather Forecasting Services Market by Forecasting Type and End-use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
According to this report the global weather forecasting services market size was valued at $1.63 billion in 2020, and is projected to reach $4.19 billion by 2030, registering a CAGR of 10.3% from 2021 to 2030.
Weather forecasting services use software, tools, and models to undertake strategic analysis of atmospheric data, to anticipate weather conditions for a specific place within a given time frame. The forecasting technique is based on meteorological functions. Weather forecasting models employ a large amount of organized and unstructured data to produce better analytical output, which allows for the optimization of company profits in various end-use sectors.
Growth associated with the aviation & shipping industry and rise in safety concerns among end-use industries drive the growth of the market. In addition, increase in the production of renewable energy fuels the growth of the market. However, complexities associated with weather forecasting models and lack of skilled workforce is expected to impede the market growth. Furthermore, technological advancements in computing systems and growth of the transportation industry among developing regions is expected to provide lucrative opportunities for the market growth.
The weather forecasting services market is segmented based on forecasting type, end-use industry, and region. On the basis of forecasting type, the market is segmented into short-range forecasting, medium-range forecasting, and long-range forecasting. On the basis of end-use industry, it is classified into transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the weather forecasting services market analysis include AccuWeather, Inc., BMT Group, ENAV, Fugro, Global Weather Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt., Ltd., Skyview Systems Ltd., and The Weather Company. These players have adopted various strategies to increase market penetration and strengthen their position in the industry.
Key Benefits
- The study provides an in-depth analysis of the global weather forecasting services market forecast along with the current trends and future estimations to explain the imminent investment pockets
- Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry
- The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential
Key Market Segments
By Forecasting Type
- Short-range Forecasting
- Medium-range Forecasting
- Long-range Forecasting
By End-use Industry
- Transportation
- Aviation
- Energy & Utilities
- Banking Financial Services & Insurance (BFSI)
- Agriculture
- Media
- Manufacturing
- Retail
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Global Weather Corporation
- Accuweather Inc
- BMT Group
- Skymet Weather Services Pvt, Ltd
- Precision Weather
- The Weather Company
- Fugro
- Enav SpA
- Met Office
- Skyview Systems Ltd
For more information about this report visit https://www.researchandmarkets.com/r/nx18qz
