Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "Weather Forecasting Services Market by Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, Media), Forecasting Type (Nowcast, Short, Medium, Extended, Long), Purpose, Organization Size, & Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The weather forecasting services market size is projected to grow from an estimated USD 1.7 billion in 2021 to USD 2.7 billion by 2026, at a CAGR of 9.9% during the forecast period.
The insurance segment accounts for the largest market size during the forecast period
Typically includes aviation, transport & logistics, media, insurance, retail, construction & mining, marine, agriculture, energy & utilities, and oil & gas, among others are considered in the weather forecasting services market. The insurance industry is estimated to be account for the largest share in the weather forecasting services market.
The small and medium-sized enterprises segment is projected to grow at the highest CAGR during the forecast period
Based on the organization size, the weather forecasting services market has been segmented into large enterprises and Small & Medium-Sized Enterprises. the small and medium-sized enterprises is estimated to growth at a highest CAGR in the weather forecasting services market during the forecast period. Weather forecasting services offer cost-efficiency, improved scalability, 24x7 availability, and enhanced decision-making. Hence, SMEs are expected to adopt weather forecasting services at a high rate, as cost-effectiveness is important for these organizations.
The short range forecast type segment accounts for the largest market size during the forecast period
Based on forecasting type, the weather forecasting services market is segmented into nowcast, short range, medium range and long range forecasting type. the short range forecasting type is estimated to lead the weather forecasting services market during the forecast period. The growth of this segment is attributed to the increasing need for short-range forecasts by the event management industry to plan sports and social events. Also, increasing demand for short range weather forecasting in renewables and oil & gas industry verticals.
North America is expected to account for the largest share in 2021
The weather forecasting services industry has been studied for North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. North America is estimated to account for the largest share of the weather forecasting services market in 2021. Weather forecasting technologies have been widely adopted across most industries in North America. The region has a large presence of prominent technology players focusing on innovations. Organizations in this region were the early adopters of advanced technologies. Technological advancements, such as improvements in data analytics and computer forecast models and an increase in the use of supercomputers delivering more computing power, are working in favor of the market in North America. The focus on focused on implementing the latest WFS technologies to make accurate weather forecasting is driving the growth of weather forecasting services market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Weather Forecasting Services Market, 2021-2026
4.2 Weather Forecasting Services Market, by Forecast Type
4.3 Weather Forecasting Services Market, by Purpose
4.4 Weather Forecasting Services Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Integration of Weather Forecasting Services by Transport and Logistics Sectors
5.2.1.2 Demand for Weather Forecasting Services in Modern-Day Agriculture
5.2.1.3 Improving Safety in Airplane Operations
5.2.1.4 Rise in Climate-Changing Patterns Resulting in Uncertainties Related to Rainfall
5.2.1.5 Increase in Weather Monitoring for Disaster Management
5.2.2 Restraints
5.2.2.1 Dynamic Nature of Atmospheric Variables
5.2.2.2 Complexity and Lack of Specialized Weather Forecasting Models
5.2.3 Opportunities
5.2.3.1 Growth of Renewable Energy Sector
5.2.3.2 Increasing Computing Capabilities by Supercomputers
5.2.3.3 Use of High-End Radars and Satellites for Weather Monitoring
5.2.3.4 Use of Big Data Analytics in Weather Forecasting Services
5.2.4 Challenges
5.2.4.1 Lack of Effective Automation
5.2.4.2 Frequent Occurrence of False Weather Alarms
5.2.4.3 Operational Challenges for Weather Forecasting Companies due to COVID-19
5.3 Ranges and Scenarios
5.4 COVID-19 Impact on Weather Forecasting Services Market
5.5 Trends/Disruptions Impacting Customer's Business
5.6 Average Selling Price Analysis
5.7 Operational Data
5.8 Weather Forecasting Services Market Ecosystem
5.9 Technology Analysis
5.10 Use Case Analysis
5.11 Value Chain Analysis of Weather Forecasting Services Market
5.12 Porter's Five Forces Analysis
5.13 Tariff and Regulatory Landscape
5.14 Trade Analysis
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Disruptive Technologies: Iot, Ai, and Big Data Analytics
6.2.2 Weather Drones
6.2.3 Supercomputers
6.2.4 Computer Models with Fast Processors
6.2.5 Emergence of Next-Generation Radar Technology
6.2.6 Big Weather Data Analysis
6.2.6.1 Hadoop and Mapreduce
6.2.7 Intelligent Weather Predicting Modules
6.3 Supply Chain Analysis
6.4 New Weather Forecasting Models
6.4.1 Horizontal Wind Model (Hwm)
6.4.2 Weather Interactive Processing System (Awips) Ii
6.4.3 Even Newer Dynamics for General Atmospheric Modeling (Endgame)
6.5 Impact of Megatrends
6.5.1 Automation
6.5.2 Digitization
6.6 Innovations and Patent Registrations
7 Weather Forecasting Services Market, by Forecast Type
7.1 Introduction
7.2 Nowcast
7.2.1 Accurate Prediction of Weather Conditions ~6 Hours in Advance Drives Nowcast Segment
7.3 Short- Range
7.3.1 Demand from Fisheries and Transportation to Boost Short-Range Segment
7.4 Medium- Range
7.4.1 Requirement for Medium-Range Forecast in Agricultural Industry Fuels Medium-Range Segment
7.5 Extended-Range
7.5.1 Demand from Resource Management and City Planning Sectors Boosts Extended-Range Segment
7.6 Long-Range
7.6.1 Increasing Demand from Weather-Sensitive Industries Driving Growth of Long-Range Segment
8 Weather Forecasting Services Market, by Industry
8.1 Introduction
8.2 COVID-19 Impact on Industries
8.3 Transport & Logistics
8.3.1 Weather Intelligence Provides Forecasting to Transport and Logistics
8.4 Marine
8.4.1 Demand for Marine Weather Forecasting Driven by Need to Analyze Weather Conditions
8.5 Aviation
8.5.1 Need to Ensure Safety of Air Passengers and Flight Crew
8.6 Media
8.6.1 Weather Warning Systems Help in Efficient Handling of Events
8.7 Oil & Gas
8.7.1 Weather Forecasting Services Help in Voyage Planning
8.8 Agriculture & Forestry
8.8.1 Weather Forecasting Services Help in Mitigating Risk in Agriculture
8.9 Insurance
8.9.1 Increasing Need for Weather Data for Future Claims
8.10 Retail
8.10.1 Weather Forecasting Services Used to Analyze Sales Trends in Retail
8.11 Energy & Utilities
8.11.1 Upsurge in Renewable Energy Production to Drive Demand
8.12 Construction & Mining
8.12.1 Effective Planning Can Help Mitigate Weather Risks
8.13 Others
9 Weather Forecasting Services Market, by Purpose
9.1 Introduction
9.2 Safety
9.2.1 Weather Safety Plays a Major Role in Eliminating Fatality Risks at Manufacturing Sites
9.3 Operational Efficiency
9.3.1 Forecast Information Enables Efficient Day-To-Day Planning and Informed Decision-Making
9.4 Others
10 Weather Forecasting Services Market, by Organization Size
10.1 Introduction
10.2 Large Enterprises
10.2.1 Dependence of Large Enterprises on Weather Forecasting Services to Improve Business Decisions
10.3 Small & Medium-Sized Enterprises
10.3.1 Ensures Risk Management in Small & Medium-Sized Enterprises
11 Weather Data Services Market
11.1 Introduction
11.2 Drivers and Opportunities for Weather Data Services Market
11.3 Technology Analysis
11.3.1 Integration of Big Data Analytics in Weather Data
11.3.2 Incorporation of Weather Data into Internet of Things (Iot)
11.3.3 Cloud Computing in Weather Data
11.3.4 High-Performance Computing for Weather Data
11.4 Use Cases on Weather Data Services Market
11.4.1 Precision Agriculture Uses Climacell Weather Data
11.4.2 Uber Uses Climacell Weather Data for Weather-Related Insights
11.5 Weather Data Services Market, by Data Type
11.5.1 Real-Time Data
11.5.2 Forecast Data
11.5.3 Historical Data
11.6 Weather Data Service Provider
11.6.1 Openweathermap
11.6.2 Accuweather, Inc
11.6.3 Climacell
11.6.4 Understory
11.6.5 Meteomatics
11.6.6 Weather Underground
11.6.7 Weatherstack
11.7 Analyst's View on Weather Data Services Market
12 Direct-To-Consumer Weather Forecasting Services Market
12.1 Introduction
12.1.1 Marine
12.1.1.1 Demand for Marine Weather Forecasting Driven by Need to Analyze Weather Conditions
12.1.2 Private Aircraft Owners
12.1.2.1 Need to Ensure Flight Crew Safety to Drive Demand
12.1.3 Farmers
12.1.3.1 Weather Forecasting Services Help in Mitigating Farming Risks
12.1.4 General Consumers
12.2 Medium Used to Provide Direct-To-Consumer Weather Forecasting Services
12.2.1 Media
12.2.2 Web-Based
12.2.2.1 Application-Based
12.3 Revenue Streams in Direct-To-Consumer Weather Forecasting Market
12.3.1 Subscription
12.3.2 Pay-Per-Use
12.3.3 Ad-Based
12.4 Weather Forecasting Service Providers
12.5 Key Developments
13 Regional Analysis
14 Competitive Landscape
14.1 Introduction
14.2 Market Ranking Analysis of Key Players, 2020
14.3 Market Share Analysis
14.4 Competitive Benchmarking
14.5 Company Evaluation Quadrant
14.5.1 Weather Forecasting Services Market Competitive Leadership Mapping
14.5.1.1 Star
14.5.1.2 Emerging Leader
14.5.1.3 Pervasive
14.5.1.4 Participant
14.5.2 Weather Forecasting Services Market Competitive Leadership Mapping (Sme)
14.5.2.1 Progressive Company
14.5.2.2 Responsive Company
14.5.2.3 Starting Block
14.5.2.4 Dynamic Company
14.6 Competitive Scenario and Trends
14.6.1 Market Evaluation Framework
14.6.2 New Product Launches and Developments
14.6.3 Deals
15 Company Profiles
15.1 Introduction
15.2 Key Players
15.2.1 The Weather Company
15.2.2 Accuweather Inc.
15.2.3 Fugro
15.2.4 Dtn
15.2.5 Stormgeo
15.2.6 Bmt Group Ltd.
15.2.7 Enav S.P.A.
15.2.8 Precision Weather
15.2.9 Tomorrow.Io
15.2.10 Global Weather Corporation
15.2.11 Met Office
15.2.12 Skyview Systems Ltd.
15.2.13 Speedwell Weather Ltd.
15.2.14 Customweather
15.2.15 Weather Routing Inc.
15.2.16 Earth Networks
15.2.17 Jupiter Intelligence
15.2.18 Meteosim
15.3 Other Players
15.3.1 Understory
15.3.2 Tempoquest
15.3.3 Ubimet GmbH
15.3.4 Weatherbell Analytics LLC
15.3.5 Saildrone
15.3.6 Skymet Weather Services Pvt.Ltd.
15.3.7 Meteologic
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/xocab7
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