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Weather Forecasting Services Market Report by Forecasting Type (Short-range Forecasting, Medium-range Forecasting, Long-range Forecasting), Purpose (Operational Efficiency, Safety, and Others), Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), End User (Transportation, Aviation, Energy and Utilities, Banking, Financial Services and Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6170
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Market Overview:
The global weather forecasting services market size reached US$ 2.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 2.2 Billion |
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Market Forecast in 2032
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US$ 4.4 Billion |
| Market Growth Rate 2024-2032 | 7.9% |
Weather forecasting is the prediction of weather with the application of innovative technologies and sciences for a specific location. It also predicts various changes on the surface of the earth caused by atmospheric conditions, such as snow and ice cover, storm tides, and floods. It assists farmers in controlling the pests and other crop diseases to spread over the field by determining the accurate period for using specific pesticides. In addition, it helps reduce weather-related losses and enhances societal benefits, such as the protection of life and property and public health and safety. As a result, weather forecasting services are used in transportation, aviation, energy and utilities, banking, financial services and insurance (BFSI), agriculture, manufacturing, and retail sectors around the world.
Weather Forecasting Services Market Trends:
The growing demand for weather forecasting services due to uncertain climate conditions and energy transitions represents one of the key factors driving the market. Besides this, there is a rise in the utilization of weather forecasting services by farmers to determine precipitation forecasts, wind alerts, and actionable insights for managing their operations, improving yields, and maximizing profits. This, along with the increasing employment of weather forecasting services in the agriculture industry to improve the irrigation method for boosting agricultural production and farming, is contributing to the growth of the market. Moreover, the growing employment of weather forecasting services in the aviation industry for navigation in extreme weather conditions is positively influencing the market. In addition, weather forecasting services enable safe and efficient network communications for land and sea rescue, administration, and support operations, which is propelling the growth of the market. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce supercomputers for ensuring accurate weather forecasts, which is expected to bolster the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global weather forecasting services market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on forecasting type, purpose, organization size and end user.
Breakup by Forecasting Type:
- Short-range Forecasting
- Medium-range Forecasting
- Long-range Forecasting
Breakup by Purpose:
- Operational Efficiency
- Safety
- Others
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-Sized Enterprises
Breakup by End User:
- Transportation
- Aviation
- Energy and Utilities
- Banking, Financial Services and Insurance (BFSI)
- Agriculture
- Media
- Manufacturing
- Retail
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AccuWeather Inc., AerisWeather, BMT Group, Custom Weather, DTN, ENAV S.p.A., Fugro, International Business Machines Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt. Ltd. and StormGeo AS.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Forecasting Type, Purpose, Organization Size, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | AccuWeather Inc., AerisWeather, BMT Group, Custom Weather, DTN, ENAV S.p.A., Fugro, International Business Machines Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt. Ltd. and StormGeo AS |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global weather forecasting services market was valued at US$ 2.2 Billion in 2023.
We expect the global weather forecasting services market to exhibit a CAGR of 7.9% during 2024-2032.
The rising adoption of weather forecasting services to predict changes on the surface of the earth caused by atmospheric conditions, such as snow and ice cover, storm tides, floods, etc., is primarily driving the global weather forecasting services market.
The sudden outbreak of the COVID-19 pandemic has led to the growing utilization of weather forecasting services across numerous sectors, including aviation, energy and utilities, agriculture, manufacturing, etc., to minimize weather-related losses and protect property.
Based on the forecasting type, the global weather forecasting services market has been segmented into short-range forecasting, medium-range forecasting, and long-range forecasting. Among these, medium-range forecasting currently holds the majority of the total market share.
Based on the organization size, the global weather forecasting services market can be divided into large enterprises and small and medium-sized enterprises. Currently, large enterprises exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global weather forecasting services market include AccuWeather Inc., AerisWeather, BMT Group, Custom Weather, DTN, ENAV S.p.A., Fugro, International Business Machines Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt. Ltd., and StormGeo AS.
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