Weather Forecasting Services Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The weather forecasting services market size is projected to reach US$ 3.48 billion by 2031 from US$ 1.70 billion in 2023. The market is expected to register a CAGR of 9.3% during 2023–2031. Changing climate patterns result in uncertainties in rainfall, and significant investments into clean energies and government support are likely to remain key trends and drivers in the market.

Weather Forecasting Services Market Analysis

Weather Forecasting Services Market is seeing substantial growth globally. This growth is attributed to the Changing climate patterns resulting in uncertainties in rainfall and significant investments into clean energies and government support. Moreover, the increasing adoption of technologically advanced systems among airports and the uptake of advanced technologies in weather forecasting is anticipated to drive the market in the coming years. 

Weather Forecasting Services Market Overview

Weather forecasting services give everyday weather forecasts relating to weather conditions. Weather is one of the biggest impact factors for every human activity and has been the biggest driver of development for the human race. The development is usually exponential in certain areas where the weather is reasonable compared to areas with harsher climate ranges. As technically developed as we are today, many measures can be taken to be efficient against the climate if a prior warning is provided. The weather forecasting services is a consulting that provides required information, which leads to informed decision-making and even cost savings.

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Weather Forecasting Services Market: Strategic Insights

Weather Forecasting Services Market

• 
  CAGR (2023 - 2031)

  9.3%
• Market Size 2023
  US$ 1.70 Billion
• Market Size 2031
  US$ 3.48 Billion

Market Dynamics

GROWTH DRIVERS

• Changing Climate Patterns Resulting in Uncertainties in Rainfall to Favor Market

FUTURE TRENDS

• The uptake of advanced technologies in weather forecasting services is anticipated to drive the market in the forecast period.

OPPORTUNITIES

• Increasing Adoption of Technologically Advanced Systems Among Airports.

Key Players

• Accuweather Inc
• BMT Group Ltd
• Enav s p A
• Fugro
• Global Weather Corporation
• SKYVIEW SYSTEMS
• Precision Weather
• Skymet Weather Services Pvt Ltd
• StormGeo
• The Weather Company IBM

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Industry

• Agriculture
• Aviation
• Marine
• Transport and Logistics
• Energy and Utilities
• Oil and Gas
• Media
• Insurance
• Retail
• Construction and Mining

Purpose

• Operational Efficiency
• Safety

Forecasting Type

• Nowcast
• Short Range
• Medium Range
• Long Range

Organization Size

• Large Enterprises and Small and Medium-sized Enterprises

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Weather Forecasting Services Market Drivers and Opportunities

Changing Climate Patterns Resulting in Uncertainties in Rainfall to Favor Market

The Environmental and Energy Study Institute (EESI) held a briefing about the role of weather intelligence technology in helping predict and prepare for extreme weather events. As greenhouse gas emissions rise, climate change is triggering and intensifying extreme weather events like heat waves, droughts, and hurricanes – as well as making them harder to predict. Climate change is leading to unprecedented extreme weather, so it is critical to provide adequate funding to weather forecasting services that inform the public. Thus, considering the above parameters, changing climate patterns resulting in uncertainties in rainfall is driving the market globally.

Increasing Adoption of Technologically Advanced Systems Among Airports.

The AirportCast weather service is used to assist airport companies in the management of air-side operational activities, both in relation to typical winter weather phenomena (snow, freezing rain or fog) and typical summer or autumn weather phenomena (thunderstorms, hail and strong wind). It is organized in the Weather Alert phase and, for the most critical weather conditions, in the operations room phase. Further, weather forecast continues to be a challenge in providing accurate forecasts for the aviation sector. In order to contribute towards the safety, economy, regularity and efficiency of global air navigation, National Meteorological Services throughout the world make meteorological observations and forecasts through the establishment of sustained monitoring and warning systems in their respective countries, as per the standards and guidelines provided by World Meteorological Organisation (WMO) and International Civil Aviation Organisation (ICAO).

Weather Forecasting Services Market Report Segmentation Analysis

Key segments that contributed to the derivation of the weather forecasting services market analysis are industry, purpose, forecasting type, and organization size.

• Based on industry, the weather forecasting services market is divided into agriculture, aviation, marine, transport and logistics, energy and utilities, oil and gas, media, insurance, retail, construction and mining, and others. The agriculture segment is anticipated to hold a significant market share in the forecast period.  
• Based on purpose, the weather forecasting services market is divided into operational efficiency, safety, and others. The operational efficiency segment is anticipated to hold a significant market share in the forecast period.
• By forecasting type, the market is segmented into nowcast, short range, medium range, and long range. The nowcast segment is anticipated to hold a significant market share in the forecast period.  
• By organization size, the market is segmented into large enterprises and small and medium-sized enterprises. The large enterprises segment is anticipated to hold a significant market share in the forecast period.  

Weather Forecasting Services Market Share Analysis by Geography

The geographic scope of the Weather Forecasting Services market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the weather forecasting services market. High technology adoption trends in various industries in the North American region have fuelled the growth of the engineering software market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American weather forecasting services market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of weather forecasting services market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the weather forecasting services market.

Weather Forecasting Services Market Report Scope

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Weather Forecasting Services Market News and Recent Developments

The weather forecasting services market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the weather forecasting services market are listed below:

• Zomato announced the launch of India's first crowd-supported weather infrastructure, WeatherUnion.com. This proprietary network of over 650 on-ground weather stations is the largest private infrastructure of its kind in the country, providing localized, real-time information on key weather parameters such as temperature, humidity, wind speed, and rainfall. (Source: Zomato, Company Website, May 2024)
• Honeywell announced that it has entered into a partnership with the National Oceanic and Atmospheric Administration’s (NOAA) National Weather Service that will enable NOAA to research and evaluate how its upper air weather observation can be improved with the use of new technology from Honeywell. (Source: Honeywell Company Website, April 2024)

Weather Forecasting Services Market Report Coverage and Deliverables

The “Weather Forecasting Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Weather forecasting services market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Weather forecasting services market trends as well as market dynamics such as drivers, restraints, and key opportunities.
• Detailed PEST/Porter’s Five Forces and SWOT analysis.
• Weather forecasting services market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the weather forecasting services market.
• Detailed company profiles.