Increased application areas for weather forecasting services, rise in need for airplane data integration towards real-time weather prediction solutions, enhanced focus towards safety concerns among end-use industries, and surge in demand for application-specific solutions drive the growth of the weather forecasting services market growth. In addition, recent innovations and growth in adoption of advanced analytical systems have fueled the market growth.
The Objective of the “Global Weather Forecasting Services Market” report is to depict the trends and upcoming for the Weather Forecasting Services industry over the forecast years. Weather Forecasting Services Market report data has been gathered from industry specialist/experts. Although the market size of the market is studied and predicted from 2017 to 2023 mulling over 2016 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
The global weather forecasting services market was valued at $1,205 million in 2016, and is projected to reach $2,777 million by 2023, growing at a CAGR of 13.1% from 2017 to 2023. The short-range forecasting segment is expected to possess maximum potential during the forecast period.
The current business scenario has witnessed a surge in adoption of weather forecasting services in the developed and developing regions, owing to technological innovations in product offerings, increased need to improve performance & operational efficiency, rise in demand for advanced data analytical models, an increase in application areas among end-users. Furthermore, the need to reduce costs towards maintenance operations, increase in air traffic, rise in need to reduce economical turnbacks and growth in awareness towards forecasting solutions are expected to provide lucrative opportunities for the market. However, the uncertainty of weather prediction solutions, complexities of these models, and a dearth of trained professionals are expected to restrict the weather forecasting services market growth.
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The short-range forecasting segment dominated the weather forecasting services market in 2016, accounting for 52% revenue share of the global market. This is attributed to rise in demand for improved analytical models and increased cloud-related expenditures to cater to the untapped markets among the developing nations.
North America was the highest revenue contributor in 2016, accounting for around 45% share. However, Asia-Pacific is projected to grow at the highest CAGR of 17.3% during the forecast period.
The report features the competitive scenario of the weather forecasting services market and provides comprehensive analyses of the significant growth strategies adopted by major players. The key players operating in the market include Global Weather Corporation, Accuweather, Inc., BMT Group Ltd., Skymet Weather Services Pvt. Ltd., Precision Weather, The Weather Company, Fugro, Enav S.p.A., Met Office, and Skyview Systems Ltd.
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Key questions answered in Weather Forecasting Services Market research study:
- What is the market growth rate of Weather Forecasting Services Market from 2017-2023?
- What will be the global market size of the market from 2017 to 2023?
- Who are the leading global manufacturing companies in the Weather Forecasting Services Market?
- What are the major current trends and predicted trends?
- What are the challenges faced in the Weather Forecasting Services Market?
- Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
- Which will be the anticipated growth rates for your own Weather Forecasting Services economy altogether and also for every segment inside?
- Which will be the Weather Forecasting Services application and types and forecast accompanied closely by producers?
- What are the conclusions of the Weather Forecasting Services Market report?
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