Weather Forecasting Services Market by Forecasting Type, Purpose, End-User

List of Tables

The Weather Forecasting Services Market was valued at USD 2.70 billion in 2023, expected to reach USD 3.00 billion in 2024, and is projected to grow at a CAGR of 11.53%, to USD 5.80 billion by 2030.

The global weather forecasting services market encompasses a wide range of technologies and services aimed at predicting weather conditions to aid various sectors, including agriculture, aviation, and energy. This market is necessity-driven due to the increasing impact of climate change and the demand for precise weather predictions to mitigate risks and enhance operational efficiency. Its application spans across industries requiring real-time weather data for strategic decision-making, such as transportation and logistics for route optimization, public safety for disaster management, and retail for inventory control based on seasonal forecasts. The end-use scope includes governmental meteorology departments, defense, and private weather service providers.

KEY MARKET STATISTICS
Base Year [2023]	USD 2.70 billion
Estimated Year [2024]	USD 3.00 billion
Forecast Year [2030]	USD 5.80 billion
CAGR (%)	11.53%

Growth drivers in this market include advancements in sensor technology, the proliferation of IoT devices, and the increasing reliance on big data analytics to process meteorological data efficiently. Moreover, the expansion of smart cities is creating new opportunities for integrating weather forecasting with urban planning. However, the market faces challenges such as the high cost of advanced forecasting systems and the complexity of integrating new technologies with existing infrastructure. Data inaccuracies and limited technical expertise can further impede growth.

Opportunities lie in the development of highly accurate predictive models and enhanced seasonal forecasting services, tailored applications for niche sectors like specialized farming, and the integration of artificial intelligence to improve prediction accuracy. Businesses can leverage these by partnering with tech firms for AI capabilities or by diversifying service offerings to cater to underserved regions. Areas for innovation include developing low-cost, high-efficiency forecasting tools and mobile applications that offer personalized weather insights. The market is dynamic, with a high pace of technological innovation but also requires significant investment in R&D. Ultimately, staying competitive involves embracing cutting-edge technologies, forging partnerships for broader service access, and maintaining a flexible approach to meet evolving market demands.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Weather Forecasting Services Market

The Weather Forecasting Services Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing dependence of agriculture activities on accurate and reliable weather forecasts
- Demand for customized forecasting solutions tailored specifically to meet specific industry requirements
- Incorporation of weather forecasting services by transport and logistics sectors
Market Restraints
- High initial investments associated with weather forecasting services
Market Opportunities
- Integration of modern technologies in weather forecasting solutions
- Continuous development of advanced computing systems for weather forecasting services
Market Challenges
- Complexities and uncertainty associated with weather forecasting models

Porter's Five Forces: A Strategic Tool for Navigating the Weather Forecasting Services Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Weather Forecasting Services Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Weather Forecasting Services Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Weather Forecasting Services Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Weather Forecasting Services Market

A detailed market share analysis in the Weather Forecasting Services Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Weather Forecasting Services Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Weather Forecasting Services Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Weather Forecasting Services Market

A strategic analysis of the Weather Forecasting Services Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Weather Forecasting Services Market, highlighting leading vendors and their innovative profiles. These include Aaizel International Technologies Private Limited, AccuWeather, Inc., Advanced Environmental Monitoring LLC, AerisWeather by Vaisala Oyj, Campbell Scientific, Inc., CoralComp Private Limited, CustomWeather, Inc., DTN, Inc., Earth Networks, Inc., ENAV S.p.A., Fugro, Infoplaza BV, Jupiter Intelligence, Inc., Meteo-Logic Ltd., METEOSIM SL, Precision Weather Services, Saildrone, Inc., Skymet Weather Services Pvt., Speedwell Weather Ltd., StormGeo AS, TempoQuest Inc., The Tomorrow Companies Inc., Weather Routing, Inc., and WeatherBELL Analytics LLC.

Market Segmentation & Coverage

This research report categorizes the Weather Forecasting Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Forecasting Type, market is studied across Long-Range Forecasting, Medium-Range Forecasting, and Short-Range Forecasting.
Based on Purpose, market is studied across Operational Efficiency and Safety.
Based on End-User, market is studied across Agriculture, Aviation, Banking Financial Services & Insurance, Energy & Utilities, Manufacturing, Media, Retail & Consumer Goods, and Transportation.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-5A2C6AA66872

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing dependence of agriculture activities on accurate and reliable weather forecasts
  - 5.1.1.2. Demand for customized forecasting solutions tailored specifically to meet specific industry requirements
  - 5.1.1.3. Incorporation of weather forecasting services by transport and logistics sectors
- 5.1.2. Restraints
  - 5.1.2.1. High initial investments associated with weather forecasting services
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of modern technologies in weather forecasting solutions
  - 5.1.3.2. Continuous development of advanced computing systems for weather forecasting services
- 5.1.4. Challenges
  - 5.1.4.1. Complexities and uncertainty associated with weather forecasting models
5.2. Market Segmentation Analysis
- 5.2.1. Forecasting Type: Higher demand for medium-range weather forecasts attributed to timely decision-making.
- 5.2.2. Purpose: Optimize operations while simultaneously saving lives and property during severe weather events.
- 5.2.3. End-User: Requirement of weather forecasting to meet the specific needs of agriculture and aviation industries to make informed decisions.
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Weather Forecasting Services Market, by Forecasting Type

6.1. Introduction
6.2. Long-Range Forecasting
6.3. Medium-Range Forecasting
6.4. Short-Range Forecasting

7. Weather Forecasting Services Market, by Purpose

7.1. Introduction
7.2. Operational Efficiency
7.3. Safety

8. Weather Forecasting Services Market, by End-User

8.1. Introduction
8.2. Agriculture
8.3. Aviation
8.4. Banking Financial Services & Insurance
8.5. Energy & Utilities
8.6. Manufacturing
8.7. Media
8.8. Retail & Consumer Goods
8.9. Transportation

9. Americas Weather Forecasting Services Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Weather Forecasting Services Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Weather Forecasting Services Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Francisco Partners to Acquire The Weather Company Assets from IBM
- 12.3.2. NOAA completes upgrade to weather and climate supercomputer system
- 12.3.3. MeteoSim to collaborate with Malawi Meteorological Services
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Aaizel International Technologies Private Limited
2. AccuWeather, Inc.
3. Advanced Environmental Monitoring LLC
4. AerisWeather by Vaisala Oyj
5. Campbell Scientific, Inc.
6. CoralComp Private Limited
7. CustomWeather, Inc.
8. DTN, Inc.
9. Earth Networks, Inc.
10. ENAV S.p.A.
11. Fugro
12. Infoplaza BV
13. Jupiter Intelligence, Inc.
14. Meteo-Logic Ltd.
15. METEOSIM SL
16. Precision Weather Services
17. Saildrone, Inc.
18. Skymet Weather Services Pvt.
19. Speedwell Weather Ltd.
20. StormGeo AS
21. TempoQuest Inc.
22. The Tomorrow Companies Inc.
23. Weather Routing, Inc.
24. WeatherBELL Analytics LLC