Weather forecasting is a consulting service that delivers real-time forecasts and aids in efficient day-to-day planning and informed decision-making in various industrial settings. Advanced weather notifications enable enterprises to plan weather-sensitive operations ahead of time, ensuring safety, efficiency, better sustainability, and significant cost savings. Weather forecasting services are used extensively in various industries, including oil and gas, renewable energy, shipping, media, agriculture, aviation, utilities, and construction. Over the projection period, the renewable energy sector is expected to dominate the market, owing to increased electricity consumption and energy requirements in various end-use industries. Various industrial enterprises are being encouraged to cut their greenhouse gas emissions to produce clean energy due to further strong government measures aimed at substituting non-renewable resources with renewable energy. During the forecast period, these factors are anticipated to increase demand for weather forecasting services.
DTN, INTERNATIONAL BUSINESS MACHINES CORPORATION, ACCUWEATHER INC., FUGRO, AND ENAV S.P.A. – PROMINENT MARKET PARTICIPANTS IN WEATHER FORECATING SERVICES MARKET
Rising demand for weather forecasting based on big data analytics is one of the critical reasons to propel the worldwide weather forecasting services market forward. Furthermore, the changing climate pattern has resulted in rainfall uncertainties. Weather forecasting is a consulting service that provides real-time forecasts and assists in daily planning and informed decision-making in a range of industrial contexts. Companies can plan weather-sensitive activities ahead of time using advanced weather notifications, resulting in significant cost savings, greater sustainability, efficiency, and safety.
Construction, utilities, oil and gas, media, renewable energy, agriculture, shipping, and aviation are just a few businesses that employ weather forecasting services. Shortly, the renewable energy sector is projected to emerge as one of the primary end-users of global weather forecasting services. Growing power consumption and energy demand in several end-use industries has resulted in this dominance. As a result of stringent government regulations, many manufacturing companies are being urged to reduce their greenhouse gas emissions to generate sustainable energy. These strategies are intended to supplement non-renewable energy supplies with renewable energy sources. These factors are projected to increase demand in the worldwide weather forecasting services market shortly.
The market for weather forecasting services is growing due to an increase in natural disasters resulting from unfavorable climate changes and the resulting security concerns. Advanced and accurate weather forecasting completed promptly can result in significant cost savings and aid in the prevention of catastrophes and natural disasters. Because weather forecasting services are based on complicated models, professional meteorologists and geologists must operate the weather forecasting systems. As a result, a scarcity of qualified workers could hinder the market. However, advances in computing systems, such as enhanced data analytics, model building, and machine learning tools and methodologies are anticipated to open up new prospects for weather forecasting service providers.
The key players operating in the market include Global Weather Corporation, Accuweather, Inc., BMT Group Ltd., Skymet Weather Services Pvt. Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A., Met Office, and Skyview Systems Ltd.., among others. Several other market players have been analyzed to understand the market. The listing of key players is derived by considering multiple factors such as overall revenue, current weather forecasting services portfolio, geographical reach, new product launches, market initiatives, and investment in technology upgradation, partnerships, and other market related activities.
Most of the market initiatives were observed in North American region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Region |
| 2021 | AccuWeather, Inc., with Chainlink introduced a new Chainlink node solution offering weather data to blockchains for making APIs compatible and accessible. Through this, the company can sell and supply AccuWeather’s data directly to the smart contracts. | North America |
| 2021 | AccuWeather, Inc. has developed new superior forecasting with digital technology based on the Microsoft Azure Databricks. It is a next-generation forecasting engine used to convert weather data into a suitable format for AI-assisted analysis. | North America |
| 2021 | Tomorrow.io, the world’s fastest-growing weather intelligence and climate security firm, has announced significant agreements with Astro Digital and Muon Space to construct Tomorrow.io’s patented radar-equipped weather satellites, which will be the first of their type. | North America |
