- Weather forecasting is the mixture of technology and science to predict the environmental and atmospheric state in an exact region.
- Insecurity in the forecasting method and difficulty with climate forecasting models is restraining market growth.
- Based on End User, the renewable energy segment is likely to drive the weather forecasting services market throughout the forecast period.
According to Stratistics MRC, theGlobal Weather Forecasting Services market is accounted for $1.22 billion in 2017 and is expected to reach $2.68 billion by 2026 growing at a CAGR of 9.1% during the forecast period.
Growing security concerns with end-use industry, more people flying, expansion of transportation, and determining probability of rainfall are some of the key factors which are driving market growth. However, insecurity in the forecasting method and difficulty with climate forecasting models is restraining market growth.
Weather forecasting is the mixture of technology and science to predict the environmental and atmospheric state in an exact region. It is the procedure of meshing statistical information on the environment in an exact region and further processing this data through a different methodical technique in order to predict atmospheric changes. Weather forecasting is a type of consult provision which provides instantaneous forecast and facilitates well-organized routine preparation and sophisticated decision making in a variety of manufacturing operations.
Based on End User, the renewable energy segment is likely to drive the weather forecasting services market throughout the forecast period. Governments are deploying renewable energy efficiently to increment energy desires of countries, in order to capture fresh energy sources. Growth in energy consumption and energy needs for household use and every nation across the globe are facing numerous challenges in meeting the enhanced energy demand.
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By Geography, Asia Pacific holds the major market share in the worldwide weather forecasting services market due to expansion of the shipping trade. Other factors such as frequent rain in the Asia Pacific region might generate a high demand for weather forecasting services.
Some of the key players profiled in the Weather Forecasting Services Market include The Weather Company, Stormgeo, Skyview Systems Ltd, Skymet Weather Services Pvt. Ltd., Precision Weather Service, Meteo-Logic, The Met Office, Global Weather Corporation, Fugro N.V., Enav S.P.A, BMT Group Ltd, and Accuweather Inc.
Forecasting Types Covered:
• Long-Range Forecasting
• Medium-Range Forecasting
• Short-Range Forecasting
• Operational Efficiency
• Other Purposes
Over 14 End Users are also covered.