Weather Forecasting Service Market Size, Share & Trends Analysis

1. (/) Weather Forecasting Services Market RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) Search Reports  HOME (/) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) HOME (/) ❯ TOP MARKET REPORTS (/TOP-MARKET-REPORTS.ASP)❯ WEATHER FORECASTING SERVICES MARKET GLOBAL TOP 2000 STRATEGIST RELY ON US FOR THEIR GROWTH STRATEGIES. KNOW MORE 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 - 2026 (/Knowledgestore.asp#request_free_trial)  FREE BROCHURE (/pdfdownloadNew.asp?id=218398014)  FREE SAMPLE REPORT (/requestsampleNew.asp?id=218398014) Report Code: AS 4771Feb, 2022, by marketsandmarkets.com DESCRIPTION TABLE OF CONTENTS METHODOLOGY DOWNLOAD PDF (/PDFDOWNLOADNEW.ASP?ID=218398014) The Weather Forecasting Services Market is projected to reach USD 2.7 billion by 2026, it is expected to grow at a CAGR of 9.9% during the forecast period. Weather forecasting services involve the application of science and technology to predict atmospheric conditions. Advancements and improvements in forecasting software have enabled digital satellite imagery, radar imagery, model data, and surface observations to predict weather conditions with greater accuracy. The weather forecasting services market has been growing significantly over the past few years. The market is driven by the increasing use of weather forecasting services by transport and logistics to improve their infrastructure, rising demand for weather forecasting services due to boost in the agriculture sector to meet the needs of a growing population, the need to improve safety in airline operations, and uncertainties in rainfall. The growth of the renewable energy sector, faster result generation by supercomputers, and the introduction of high- end radars, small satellites, and big data analytics in weather forecasting are expected to provide further growth opportunities for the market. However, the complexity of weather forecasting models and the dynamic nature of atmospheric variables are some of the factors expected to restrain the market's growth We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

2. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) To know about the assumptions considered for the study, Request for Free Sample Report (https://www.marketsandmarkets.com/requestsampleNew.asp?id=218398014) Weather Forecasting Services Market Dynamics: Increase in weather monitoring for disaster management Disaster management depends on monitoring services for continuous information on changing weather scenarios. Weather forecasting and early warnings significantly help reduce the loss of life and damage caused by natural disasters such as floods, wildfires, hurricanes, avalanches, and tsunamis, among others. Continuous weather monitoring enables enhanced planning by civil, government, and military authorities, as well as better natural hazard mitigation and industrial planning. Furthermore, accurate and precise information about the probabilities of weather-related events also fuels the growth of specialized sectors, such as insurance and energy,which can mitigate economic and financial losses resulting from natural calamities. Thus, the increased need for continuous weather monitoring for disaster management is expected to fuel the growth of weather forecasting services across the globe. The correct forecasting service can provide reliable weather data by providing updates on real-time lightning detection and customizable alerts, which help stakeholders prepare and recover quickly after a natural calamity. For instance, the India Meteorological Department (IMD) issues various categories, such as district-wise, subdivision-wise, district-wise, and station-wise nowcast warnings. These warnings describe the current state of the weather and predict likable changes that might occur in the next few hours across the country. In December 2021, the IMD predicted a cyclonic storm over the coast of Odisha, India. This resulted in the escalation of planned evacuation efforts and helped to develop a robust disaster management strategy by requisitioning National Disaster Response Force (NDRF) and fire department to carry out rescue and evacuation operations in the affected area. Restraint:Dynamic nature of atmospheric variables Most atmospheric phenomena addressed in weather forecasting processes are non-linear and highly reliant on individual area's starting weather conditions. Although various occurrences may be anticipated based on a comprehensive understanding of a numerical weather forecasting model's beginning circumstances, weather We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

3. conditions are dynamic in nature and fluctuate owing to changes in several atmospheric factors. In addition to the inherent non-linearity of weather data acquired by various weather forecasting methods, such as weather stations, weather observation systems, and weather radars, this makes the weather forecasting process extremely difficult. These procedures are particularly difficult because to the need for proper integration and analysis of a vast volume of meteorological data. This is predicted to limit the market growth of weather forecasting services. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) ABOUT US (/ABOUTUS-8.HTML) Opportunity:Use of big data (https://www.marketsandmarkets.com/Market-Reports/big-data-market- 1068.html) analytics in weather forecasting services CONTACT US (/CONTACTUS.ASP) CAREERS (/CAREER.ASP) Weather forecasting can be challenging due to the many variables involved, such as satellite imagery, surface data, precipitation reports, and briefings from other forecasters, along with the complex interactions between these variables. However, an increase in the ability to gather and process weather data enables weather forecasters to predict the time and strength of hurricanes, floods, snowstorms, and other phenomena. Weather scientists are using big data analytics and predictive analytics to predict future weather conditions based on studying current and past weather data, thereby presenting opportunities for this market. Big data analytics plays a key role in processing weather-related data to provide timely information that helps provide accurate weather forecasts. Using big data, local authorities can better anticipate problems caused by weather before they occur. IBM also provides massive computing power to the Korean Meteorological Administration (KMA) to fully embrace big data technology. Using big data, the KMA can now improve its forecasts regarding the strength and location of tropical storms and other weather systems. Challenge:Frequent occurrence of false weather alarms The occurrence of false alarms or a high False Alarm Ratio (FAR) could challenge the growth of the weather forecasting services market. A false alarm occurs when a warning for any natural calamity is expected to ensure necessary precautions before its occurrence. However, it is observed that 3 out of 4 alarms are false. A weather alarm is issued when any hazard, such as a tornado, is expected so that necessary precautions can be taken. However, on average, roughly 70% of tornado warnings issued in the US are false alarms which means out of every 10 tornado alarms only 3 ahave been real. Too many false alarms may psychologically affect people and lead to ignoring the true alarms. The National Weather Service (NWS) has been taking initiatives to tackle this issue of false alarms. In 2015, NWS launched the Tornado Warning Improvement Process, encouraging NWS offices are asked to share insights from the local to know the effective and accurate warnings made so that they can be analysed for the better future predictions. According to a journal published by The Weather Channel (US) in 2018, due to the steps opted by NWS, the number of times tornado warnings has decreased from 13 to 14 minutes at the beginning of the decade to around 8 to 9 minutes in the recent years (2017). Though technological advancements in recent years have improved the efficiency of weather forecasting services, the occurrence of false alarms still poses a challenge to the growth of the weather forecast services market. The insurance segment accounts for the largest market size during the forecast period The insurance sector uses weather forecasting services to predict damage from severe events and provide proper communication to customers regarding the expected damage due to severe weather conditions. When policyholders are alerted to an imminent weather event, they can begin taking steps to avoid weather-related damage. Similarly, insurers can use accurate and timely weather data to move resources into place before major weather events. In the current scenario, developing countries' agriculture industry’s profits depend strongly on weather realizations. It is well-known that farmers without access to good insurance markets act conservatively, investing less on their farms and choosing crop mixes and cultivation techniques that reduce the volatility of farm profits at the expense of lower expected profits. Climate change experts and policymakers have long recognized We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

4. that the insurance industry holds a significant reservoir of needed skills and knowledge. The insurance industry not only possesses in-depth knowledge of extreme weather and its associated risks but also has expertise in weather risk modelling, scenario building, and aligning incentives with desired actions. (/) The small and medium-sized enterprises segment is projected to grow at the highest CAGR during the forecast period Sign In (https://www.marketsandmarkets.com/signin.asp) HOME (/) ABOUT US (/ABOUTUS-8.HTML) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) CONTACT US (/CONTACTUS.ASP)  Largeenterprises and Small & Medium-Sized Enterprises are considered in the organization segment of the market. The emergence of weather forecasting services offers opportunities to SMEs to manage weather-related risks. Several SME-focused companies, government initiatives, and weather forecasters are expected to add to the growth of the weather forecasting services market. As the accuracy of weather forecasts increases, enabled by better technology and tools, the marine industry is tapping into the predictions to optimize productivity and cut risks. XShip (India), a global marine consultancy service provider, has signed up for weather forecasts from The Weather Company (US) to predict the best routes for ships with 95% accuracy. CAREERS (/CAREER.ASP) The short-range forecast type segment accounts for the largest market size during the forecast period By forecast type,the weather forecasting services market is segmented into nowcast, short-range, medium-range, extended-range, and long-range forecast types. Short-range forecasts are based on weather charts, maps, satellite images, weather balloons, and ground-based information. It is used for weather prediction and other applications like aviation, ship routing, etc. This type of forecast serves its purpose by providing information on the predicted weather for the upcoming few days, providing sufficient time to prepare in the event of a disaster. The most benefitted sectors from short-range forecasting are fisheries and transportation. Knowing weather conditions for up to 48 hours is essential for both these industries to function. North Americaaccounts for the largest share North America, Europe, AsiaPacific,Middle East, Latin America,and Africa have been considered for the study of the weather forecasting services market. North Americaaccounts for the largest weather forecasting services market in 2021.Major companies providing weather forecasting services in the North American region include The Weather Company (US), DTN (US), and AccuWeather, Inc. (US). The Weather Company is the key weather solutions provider in this region, followed by AccuWeather. Both companies provide comprehensive weather coverage and support services worldwide.The US has several models but mostly relies on the Global Forecast System (GFS), run by the National Centers for Environmental Prediction, part of the National Oceanic and Atmospheric Administration. The US National Oceanic and Atmospheric Administration (NOAA) has increasingly used machine learning to improve its forecasts. Research and developments are being carried out to implement machine learning in weather forecasting services to improve predictive analysis for high-impact weather like severe thunderstorms, tornadoes, and hurricanes. To know about the assumptions considered for the study, download the pdf brochure (https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218398014) Key Market Players The Weather Company (US), AccuWeather (US), DTN (US), StormGeo (Norway), Fugro (Netherlands), and ENAV S.p.A. (Italy) are among the major companies in the weather forecasting services market. Weather Forecasting Services Market Report Scope: Report Metric Details We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X Estimated Market USD 1.7 Billion

5. Revenue Forecast in 2026 Growth Rate Forecast period USD 2.7 Billion 9.9% 2021-2026 (/) Market size available for years 2018-2026 Base year considered ABOUT US (/ABOUTUS-8.HTML) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) 2020 Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) CAREERS (/CAREER.ASP) Forecast units Value (USD) By Industry, Forecast Type, Purpose, Organization Size, and By Region Segments covered North America Asia Pacific Europe Middle East & Africa Latin America Geographies covered The Weather Company (US), AccuWeather, Inc. (US), DTN (US), StormGeo (Norway), Fugro (Netherlands), ENAV S.p.A. (Italy), and BMT Group Ltd. (UK), among others Companies covered (Weather Forecasting Service Providers) This research report categorizes the Weather Forecasting Services Market based on industry, forecasting type, purpose, organization size, and region. Weather Forecasting Services Market, By Industry Agriculture & Forestry Aviation Marine Transport & Logistics Energy & Utilities Oil & Gas Media Insurance Retail Construction & Mining Others By Purpose Operational Efficiency Safety Others By Forecast Type Nowcast Short-Range We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

6. Medium-Range Extended-Range Long-Range (/) By Organization Size Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) Large Enterprises Small & Medium-Sized Enterprises CONTACT US (/CONTACTUS.ASP)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Weather Forecasting Services Market, By Region North America Europe Asia Pacific Middle East & Africa Latin America Recent Developments In November 2021, An agreement worth USD 125 million was signed between ENAV and the Ministry of Sustainable Infrastructures and Mobility for the implementation of certain projects, including the Piano Nazionale di Ripresa e Resilienza (PNRR – National Recovery and Resilience Plan). It includes air navigation support services, aeronautical information management systems, and drone operational services. In November 2021, AirRated, the creator of the global benchmark for indoor air quality (IAQ), announced a three-year partnership with Tomorrow.io, which will provide hyperlocal, real-time weather data to be involved in AirRated's IAQ modeling. AirRated will combine Tomorrow.io’s data with its indoor air quality data to better optimize buildings through a detailed understanding of the outdoor air. Frequently Asked Questions (FAQs):  What are your views on the growth prospect of the weather forecasting servicesmarket?  Whatkey sustainability strategies are adopted by leading players operating in the weather forecasting services market?  What are the major trends in the market? To speak to our analyst for a discussion on the above findings, click Speak to Analyst (https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=218398014) Custom Market Research Services We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

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