The Weather Forecasting Services Global Market Report 2023, provides comprehensive information on the weather forecasting services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Weather Forecasting Services Global Market Report 2023, the global weather forecasting services market size is expected to grow from $1.87 billion in 2022 to $2.06 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global weather forecasting services market size is expected to reach $2.94 billion in 2027 at a CAGR of 9.2%.
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Technological advancement is a key trend in the weather forecasting services market. Companies operating in the market are adopting technologies, such as artificial intelligence, to sustain their position in the market. For instance, in October 2022, Jua.ai AG, a Switzerland-based artificial intelligence climate company that provides insights and research for weather forecasting, launched an AI-powered platform to give customized weather models to the meteorological industry. This weather prediction model predicts different weather-based parameters, such as precipitation, wind speed, air pressure, and wind direction. The model gets updated every fifteen minutes, which enables significant improvements in forecasting extreme events. It offers up to 25 times higher spatial resolution and ten times higher temporal resolution when compared to conventional alternatives.
The weather forecasting services market is segmented:
1) By Type: Onshore Weather Forecasting Services, Offshore Weather Forecasting Services
2) By Forecast Type: Nowcast, Short-Range, Medium Range, Extended Range, Long Range
3) By Purpose: Operational Efficiency, Safety
4) By Organization Size: Large Enterprises, Small And Medium Enterprises
5) By Industry: Transportation, Aviation, Energy And Utilities, Banking Financial Services And Insurance (BFSI), Agriculture, Media, Manufacturing, Retail, Other Industries
North America was the largest region in the weather forecasting services market in 2022.
The table of contents in TBRC’s weather forecasting services market report includes:
1. Executive Summary
2. Weather Forecasting Services Market Characteristics
3. Weather Forecasting Services Market Trends And Strategies
4. Weather Forecasting Services Market – Macro Economic Scenario
5. Weather Forecasting Services Market Size And Growth
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26. Africa Weather Forecasting Services Market
27. Weather Forecasting Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Weather Forecasting Services Market
29. Weather Forecasting Services Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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