The Weather Forecasting Services market size is projected to grow from USD 1.9 billion in 2023 to USD 2.8 billion by 2028, at a CAGR of 8.2%. The demand for enhanced safety and minimize the loss in various industry is driving the market for Weather Forecasting Services. The Forecasting services is developing rapidly by use of advanced technologies to minimize the loss due to bad weather conditions. Government support and growing investments are propelling the development of Meteological , further boosting the growth of the Weather Forecasting Services market. Increased adoption of big data, artificial intelligence (AI), the Industrial Internet of Things (IIoT), the Internet of Things (IoT), and data analytics in Weather Forecasting Services are used for accurate weather forecasting data. The Weather Forecasting Services systems help to collect and transmit the forecast data and improve safety and prevent accidents.
Weather forecasting services play a crucial role in various sectors, providing valuable insights into upcoming weather patterns and helping businesses, governments, and industries make informed decisions. With key stakeholders including government agencies, industries, investors, and service providers, the Weather Forecasting Services Market is witnessing substantial growth. Prominent companies such as The Weather Company (US), DTN (US), AccuWeather (US), Fugro (Netherlands), and Enav S.P.A (Italy) are driving innovation and shaping the industry landscape.
Key Stakeholders in the Weather Forecasting Services Market
Government Agencies: Government entities are significant stakeholders in the weather forecasting services market size, responsible for providing weather forecasts to the public, issuing warnings, and coordinating disaster response efforts. These agencies rely on advanced technologies and partnerships with private companies to improve the accuracy and timeliness of forecasts.
Industries: Various industries, including agriculture, aviation, transportation, energy, and tourism, heavily rely on weather forecasting services to mitigate risks, optimize operations, and ensure safety. For example, farmers use weather forecasts to plan planting and harvesting schedules, while airlines use them to optimize flight routes and schedules.
Investors and Funders: Investors and funders play a crucial role in driving innovation and growth in the weather forecasting services market. They provide financial support to companies developing new technologies, expanding their services, or entering new markets. This funding enables companies to invest in research and development and expand their capabilities.
Academic Researchers: Academic researchers contribute to the advancement of weather forecasting technologies through scientific research and collaboration with industry partners. Their work helps improve the accuracy of forecasts and develop new methods for predicting weather patterns.
Integrators and Service Providers: Integrators and service providers play a vital role in delivering weather forecasting solutions to end-users. They combine data from various sources, including satellites, weather stations, and numerical weather prediction models, to generate accurate and reliable forecasts tailored to specific industries and applications.
Licensing Authorities: Licensing authorities regulate the use and distribution of weather data and forecast services, ensuring that providers adhere to quality standards and privacy regulations. These authorities play a crucial role in maintaining the integrity and reliability of weather forecasting services.
Related Reports:
Weather Forecasting Services Market by Industry (Insurance Aviation, Others), Forecasting Type (Nowcast, Short, Medium, Extended, Long) Purpose (Safety, Operational Efficiency), Organization (Large, Small-Sized Enterprises) and Global Forecast to 2028
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
