Weather Forecasting Services Market by Industry (Renewable Energy, Oil & Gas, Shipping, Media, Agriculture, Insurance, Retail, Aviation), Purpose (Safety, Operational Efficiency), Forecasting Type (Short, Medium, Long) and Region - Global Forecast to 2021
The weather forecasting services market is projected to grow from USD 1.10 Billion in 2016 to USD 1.56 Billion by 2021, at a CAGR of 7.15% during the forecast period. The base year considered for the report is 2015, and the forecast period is from 2016 to 2021.
Objective of the Study:
The report forecasts the weather forecasting services market over the next five years. It also identifies and analyzes evolving technologies, recent developments, and high potential geographic regions and countries. The market has been analyzed on the basis of industry, purpose, forecast type, and region. The report provides a competitive landscape for key players in the market with explicit focus on their product offerings, key financials, and growth strategies adopted by them to sustain their market position.
Research Methodology:
Key players in the weather forecasting services market have been identified through secondary research and their market shares have been determined through both, primary and secondary researches. These include study of annual and financial reports of top players and extensive interviews of key industry experts. Some of the secondary sources include International Air Transport Association (IATA), Organization of Petroleum Exporting Countries (OPEC), and World Bank Database, among others.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to procure the final quantitative and qualitative data. This data has been consolidated, added with detailed inputs and analysis by MarketsandMarkets, and presented in this report. The following figure represents the primary interview breakdown undertaken during the course of this study on the weather forecasting services market:
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The ecosystem of the weather forecasting services market comprises weather forecasting service providers, such as The Weather Company (U.S.), Accuweather (U.S.), StormGeo (Norway), Meteo Group (U.K.); system manufacturers such as Vaisala OYJ (Netherlands), Sutron Corporation (U.S.), Campbell Scientific Inc. (U.S.); weather data monitoring companies/agencies such as The National Oceanic and Atmospheric Administration (U.S.), Environdata Weather Stations Pty Ltd (Australia), National Aeronautics and Space Administration (U.S.); and end users, such as media, airlines, ships, power generation facilities.
Key Target Audience:
- Weather Forecast Service Providers
- Forecast System Integrators
- Research Bodies
- Original Equipment Manufacturers
- Technology and Sub-component Manufacturers
“Furthermore, this study answers several questions for stakeholders, which focus on prioritizing efforts and investments to be made in this industry over the period of next five years”
Scope of the Report
This research report categorizes the weather forecasting services market into the following segments and subsegments:
Weather Forecasting Services Market, By Industry
- Renewable Energy
- Oil & Gas
- Shipping
- Media
- Agriculture
- Insurance
- Retail
- Aviation
- Utilities
- others
Weather Forecasting Services Market, By Purpose
- Operational Efficiency
- Safety
- Others
Weather Forecasting Services Market, By Forecasting Type
- Short Range
- Medium Range
- Long Range
Weather Forecasting Services Market, By Region
- North America
- Europe
- Asia-Pacific
- MENA
- RoW
Customizations available for the report:
With the given market data, MarketsandMarkets offers customizations as per specific needs of a company. The following customization options are available for the report:
- Market analysis, by type of service provider
- Private
- Government
- Additional 5 company profiling
The weather forecasting services market is projected to grow from USD 1.10 Billion in 2016 to USD 1.56 Billion by 2021, at a CAGR of 7.15% between 2016 and 2021. This can be attributed to rapid industrialization, growth in transportation (aviation and shipping), constant measures being taken up to reduce emissions of greenhouse gases, and increase in the production of clean energy (renewable energy).
In this report, the weather forecasting services market has been categorized into three key segments, namely, industry, purpose, and forecast type. The report offers revenue forecasts and analyzes industry trends that are predominant in this market. On the basis of industry, the market has been classified into renewable energy, shipping, aviation, oil & gas, media, agriculture, insurance, retail, utilities, and others. The renewable energy segment is expected to grow at a highest CAGR from 2016 to 2021. In 2016, the renewable energy segment is estimated to account for the largest share of the market, owing to importance of renewable energy segment in determining the demand and supply of energy commodities.
Based on purpose, the weather forecasting services market has been divided into operational efficiency, safety, and others. The operational efficiency segment is estimated to lead the market during the forecast period. Wind energy firms need weather forecasting services for efficient output; solar energy plants need weather forecasting services for estimating power output; and the shipping industry needs weather forecasting services to determine economical and safe routes. Likewise, other industries also use weather forecasting service to optimize their operations and increase their economic viability.
On the basis of forecast type, the weather forecasting services market has been classified into short range, medium range, and long range. The medium range segment of the market is projected to grow at a highest CAGR during the forecast period. Introduction of advanced data analytics and machine learning techniques for computers have increased accuracy and reliability of weather forecasts over medium range. These technological advancements have fueled the growth of the medium range segment of the market.
The weather forecasting services market has been studied in five major regions, namely, North America, Europe, Asia-Pacific, Middle East & North Africa (MENA), and the rest of the world. The Asia-Pacific region is estimated to account for the largest share in the market in 2016. This market in the Asia-Pacific region is anticipated to grow at the highest CAGR during the forecast period.
Factors such as growth of air & sea transport, dependency on rainfall for water, improvement in economic conditions of various countries in the Asia-Pacific region, and increase in concerns for safety & security are driving the Asia-Pacific weather forecasting services market. However, aspects such as complex process of forecasting and uncertainty of forecasts may limit the growth of the Asia-Pacific market.
The leading market players are developing and introducing new approaches and methods for highly reliable predictions. They are also adopting strategies of as mergers & acquisitions, supply contracts, and expansions to expand their geographic presence and strengthen their position in the weather forecasting services market.
Major players in the weather forecasting services market are StormGeo (Norway), BMT Group (U.K.), Fugro (Netherlands), ENAV S.p.A (Europe), The Weather Company (U.S.), Global Weather Company (U.S.), Mateoblue (U.S.), Precision Weather (U.S.), METEO Group (U.K.), and Met Office (U.K.).
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.4 Currency & Pricing
1.5 Study Limitations
1.6 Market Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries: By Company Type, Designation, and Region
2.2 Factor Analysis
2.2.1 Introduction
2.2.2 Demand-Side Analysis
2.2.2.1 Increasing Safety Concerns Because of Climate Change
2.2.2.2 Increasing International Trade
2.2.3 Supply-Side Analysis
2.2.3.1 Advancements in Weather Forecasting Technologies
2.3 Market Size Estimation
2.3.1 Research Methodology – 1
2.3.2 Research Methodology – 2
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions & Limitations
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 35)
4.1 Attractive Market Opportunities in Market
4.2 Market, By Industry
4.3 Market, By Purpose
4.4 Asia-Pacific Weather Forecasting Services Market
4.5 Market, By Forecasting Type
4.6 Market, By Region
4.7 Life Cycle Analysis
5 Market Overview (Page No. - 39)
5.1 Introduction
5.2 Market Segmentation
5.2.1 Market, By Industry
5.2.2 Market, By Purpose
5.2.3 Market, By Forecasting Type
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Safety Concerns Among End-Use Industries
5.3.1.2 Increase in Air Travel
5.3.1.3 Growth of Shipping Industry
5.3.1.4 Uncertainty in Rainfall
5.3.2 Restraints
5.3.2.1 Uncertainty in Forecasting Methods
5.3.2.2 Complexity of Weather Forecasting Models
5.3.3 Opportunities
5.3.3.1 Upcoming Airports in APAC and the Middle East
5.3.3.2 Rising Application of Supercomputer Models and Weather Drones
5.3.4 Challenges
5.3.4.1 Lack of Automation
5.3.4.2 Occurrence of False Alarms
6 Industry Trends (Page No. - 50)
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Key Influencers
6.3 Industry Trends
6.3.1 Use of Weather Balloons to Forecast Weather
6.3.2 Weather Drones
6.3.3 Supercomputers for Weather Forecast
6.3.4 Development of Computer Models With Faster Processors
6.3.5 Emergence of Next Generation Radar Technology
7 Weather Forecasting Services Market, By Industry (Page No. - 56)
7.1 Introduction
7.1.1 Renewable Energy
7.1.2 Shipping
7.1.3 Aviation
7.1.4 Media
7.1.5 Oil & Gas
7.1.6 Agriculture
7.1.7 Utilities
7.1.8 Insurance
7.1.9 Retail
8 Weather Forecasting Services Market, By Purpose (Page No. - 63)
8.1 Introduction
8.2 Industries Using Weather Forecasting Services (WFS) for Safety:
8.3 Industries Using Weather Forecasting Services (WFS) to Enhance Their Operational Efficiency:
8.4 Industries Using Weather Forecasting Services (WFS) for Other Purposes:
9 Weather Forecasting Services Market, By Forecasting Type (Page No. - 66)
9.1 Introduction
9.2 Short Range Forecasting
9.3 Medium Range Forecasting
9.4 Long Range Forecasting
10 Regional Analysis (Page No. - 69)
10.1 Introduction
10.2 North America
10.2.1 By Industry
10.2.2 By Purpose
10.2.3 By Forecasting Type
10.2.4 By Country
10.2.4.1 U.S.
10.2.4.2 Canada
10.3 Europe
10.3.1 By Industry
10.3.2 By Purpose
10.3.3 By Forecasting Type
10.3.4 By Country
10.3.4.1 U.K.
10.3.4.2 Germany
10.3.4.3 France
10.4 Asia-Pacific
10.4.1 By Industry
10.4.2 By Purpose
10.4.3 By Forecasting Type
10.4.4 By Country
10.4.4.1 China
10.4.4.2 Australia
10.4.4.3 India
10.4.4.4 Japan
10.5 Middle East & North Africa
10.5.1 By Industry
10.5.2 By Purpose
10.5.3 By Forecasting Type
10.5.4 By Country
10.5.4.1 UAE
10.5.4.2 Saudi Arabia
10.5.4.3 Turkey
10.5.4.4 Egypt
10.6 Rest of the World
10.6.1 By Industry
10.6.2 By Purpose
10.6.3 By Forecasting Type
10.6.4 By Country
10.6.4.1 Brazil
10.6.4.2 South Africa
11 Competitive Landscape (Page No. - 113)
11.1 Overview
11.2 Rank Analysis
11.3 Revenue Models in the Market
11.3.1 Stormgeo Revenue Model
11.3.2 Fugro Revenue Model
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 Mergers & Acquisitions, Partnerships, & Agreements
11.4.3 Expansions
11.4.4 Supply Contracts
12 Company Profiles (Page No. - 122)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 Introduction
12.2 Stormgeo
12.3 BMT Group Ltd.
12.4 Fugro
12.5 ENAV S.P.A.
12.6 Meteosim SL
12.7 Meteo-Logic
12.8 Skymet Weather Services Pvt. Ltd.
12.9 Skyview Systems Ltd.
12.10 Global Weather Corporation
12.11 Met Office
12.12 Meteogroup
12.13 Precision Weather
12.14 The Weather Company
12.15 Meteoblue
12.16 Accuweather, Inc.
*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 151)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Introducing RT: Real Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (75 Tables)
Table 1 Ongoing Airport Expansion Projects in the Middle East
Table 2 Ongoing Airport Expansion Projects in Asia-Pacific
Table 3 Market Size, By Industry, 2014–2021 (USD Million)
Table 4 Market Size, By Purpose, 2014–2021 (USD Million)
Table 5 Market Size, By Forecasting Type, 2014–2021 (USD Million)
Table 6 Market Size, By Region, 2014-2021 (USD Million)
Table 7 North America: Market Size, By Industry, 2014-2021 (USD Million)
Table 8 North America: Market Size, By Purpose, 2014-2021 (USD Million)
Table 9 North America: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 10 North America: Market Size, By Country, 2014-2021 (USD Million)
Table 11 U.S.: Market Size, By Industry, 2014-2021 (USD Million)
Table 12 U.S.: Market Size, By Purpose, 2014-2021 (USD Million)
Table 13 U.S.: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 14 Canada: Market Size, By Industry, 2014-2021 (USD Million)
Table 15 Canada: Market Size, By Purpose, 2014-2021 (USD Million)
Table 16 Canada: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 17 Europe: Market Size, By Industry, 2014-2021 (USD Million)
Table 18 Europe: Market Size, By Purpose, 2014-2021 (USD Million)
Table 19 Europe: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 20 Europe: Market Size, By Country, 2014-2021 (USD Million)
Table 21 U.K.: Market Size, By Industry, 2014-2021 (USD Million)
Table 22 U.K.: Market Size, By Purpose, 2014-2021 (USD Million)
Table 23 U.K.: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 24 Germany: Market Size, By Industry, 2014-2021 (USD Million)
Table 25 Germany: Market Size, By Purpose, 2014-2021 (USD Million)
Table 26 Germany: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 27 France: Market Size, By Industry, 2014-2021 (USD Million)
Table 28 France: Market Size, By Purpose, 2014-2021 (USD Million)
Table 29 France: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 30 Asia-Pacific: Market Size, By Industry, 2014-2021 (USD Million)
Table 31 Asia-Pacific: Market Size, By Purpose, 2014-2021 (USD Million)
Table 32 Asia-Pacific: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 33 Asia-Pacific: Market Size, By Country, 2014-2021 (USD Million)
Table 34 China: Market Size, By Industry, 2014-2021 (USD Million)
Table 35 China: Market Size, By Purpose, 2014-2021 (USD Million)
Table 36 China: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 37 Australia: Market Size, By Industry, 2014-2021 (USD Million)
Table 38 Australia: Market Size, By Purpose, 2014-2021 (USD Million)
Table 39 Australia: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 40 India: Market Size, By Industry, 2014-2021 (USD Million)
Table 41 India: Market Size, By Purpose, 2014-2021 (USD Million)
Table 42 India: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 43 Japan: Weather Forecasting Services Market Size, By Industry, 2014-2021 (USD Million)
Table 44 Japan: Market Size, By Purpose, 2014-2021 (USD Million)
Table 45 Japan: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 46 Middle East & North Africa: Market Size, By Industry, 2014-2021 (USD Million)
Table 47 Middle East & North Africa: Market Size, By Purpose, 2014-2021 (USD Million)
Table 48 Middle East & North Africa: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 49 Middle East & North Africa: Market Size, By Country, 2014-2021 (USD Million)
Table 50 UAE: Market Size, By Industry, 2014-2021 (USD Million)
Table 51 UAE: Market Size, By Purpose, 2014-2021 (USD Million)
Table 52 UAE: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 53 Saudi Arabia: Market Size, By Industry, 2014-2021 (USD Million)
Table 54 Saudi Arabia: Market Size, By Purpose, 2014-2021 (USD Million)
Table 55 Saudi Arabia: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 56 Turkey: Market Size, By Industry, 2014-2021 (USD Million)
Table 57 Turkey: Market Size, By Purpose, 2014-2021 (USD Million)
Table 58 Turkey: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 59 Egypt: Market Size, By Industry, 2014-2021 (USD Million)
Table 60 Egypt: Market Size, By Purpose, 2014-2021 (USD Million)
Table 61 Egypt: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 62 Rest of the World: Market Size, By Industry, 2014-2021 (USD Million)
Table 63 Rest of the World: Market Size, By Purpose, 2014-2021 (USD Million)
Table 64 Rest of the World: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 65 Rest of the World: Market Size, By Country, 2014-2021 (USD Million)
Table 66 Brazil: Market Size, By Industry, 2014-2021 (USD Million)
Table 67 Brazil: Market Size, By Purpose, 2014-2021 (USD Million)
Table 68 Brazil: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 69 South Africa: Market Size, By Industry, 2014-2021 (USD Million)
Table 70 South Africa: Market Size, By Purpose, 2014-2021 (USD Million)
Table 71 South Africa: Market Size, By Forecasting Type, 2014-2021 (USD Million)
Table 72 New Product Launches, 2016
Table 73 Mergers & Acquisitions, Partnerships, & Agreements, 2015 - 2016
Table 74 Expansions, 2014
Table 75 Supply Contracts, 2015 - 2016
List of Figures (52 Figures)
Figure 1 Markets Covered: Global Weather Forecasting Services Market
Figure 2 Study Years
Figure 3 Market Stakeholders
Figure 4 Research Design
Figure 5 Causes of Aviation Accidents Between 1960 and 2015
Figure 6 Airline Accidents Per Million Departures, 2005-2015
Figure 7 Research Methodology - 1
Figure 8 Research Methodology – 2
Figure 9 Research Methodology: Data Triangulation
Figure 10 Assumptions
Figure 11 Limitations
Figure 12Market, By Industry, 2016 & 2021 (USD Million)
Figure 13 Market, By Purpose, 2016 & 2021 (USD Million)
Figure 14 Market, By Forecasting Type, 2016 & 2021 (USD Million)
Figure 15 Regional Snapshot
Figure 16 Market: Company Offerings
Figure 17 Battle for Market Share: New Product Launches, Partnerships, and Agreements are Key Growth Strategies in WFS Market
Figure 18 Increasing Demand for Accurate Weather Forecast Expected to Provide Growth Opportunities to Weather Forecasting Service Providers
Figure 19 Renewable Energy Segment to Grow at the Highest CAGR During the Forecast Period
Figure 20 Operational Efficiency Segment Projected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Shipping Segment Accounted for the Largest Share of the Asia-Pacific Weather Forecasting Services Market in 2015
Figure 22 Medium Range Segment Projected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Asia-Pacific Expected to Hold the Largest Market Share During the Forecast Period
Figure 24 Asia-Pacific Projected to Witness Significant Growth During the Forecast Period
Figure 25 Market Segmentation
Figure 26 Market, By Industry
Figure 27 Market, By Purpose
Figure 28 Market, By Forecasting Type
Figure 29 Market Dynamics
Figure 30 Decline in Loss of Shipping Vessels (2006 - 2015)
Figure 31 Causes for Loss of Shipping Vessels in 2015
Figure 32 Value Chain Analysis: Market
Figure 33 Market, By Industry, 2016 & 2021 (USD Million)
Figure 34 Market, By Purpose, 2016 & 2021 (USD Million)
Figure 35 Market, By Forecasting Type, 2016 & 2021 (USD Million)
Figure 36 Market, By Region, 2016-2021 (USD Million)
Figure 37 North America Weather Forecasting Services Market Snapshot
Figure 38 Europe Market Snapshot
Figure 39 Asia-Pacific Market Snapshot
Figure 40 Middle East & North Africa Market Snapshot(2016)
Figure 41 Rest of the World Market Snapshot
Figure 42 Companies Adopted New Product Launches and Agreements as Key Growth Strategies
Figure 43 Weather Forecasting Services: Rank Analysis of Key Players (2015)
Figure 44 Stormgeo Revenue Model
Figure 45 Fugro Revenue Model
Figure 46 Market Evolution Framework, 2013-2016
Figure 47 Battle for Market Share: New Product Launches, Partnerships, and Agreements are Key Growth Strategies
Figure 48 Industries Served By Companies in the Market
Figure 49 Stormgeo: Company Snapshot
Figure 50 BMT Group Ltd.: Company Snapshot
Figure 51 Fugro: Company Snapshot
Figure 52 ENAV S.P.A.: Company Snapshot
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Growth opportunities and latent adjacency in Weather Forecasting Services Market