Weather Forecasting Services Market Reach to USD 4.19 Billion by 2030|Top Players Such as-AccuWeather,Skymet & Skyview

Weather Forecasting Services Market

Rising demand for weather forecast solutions due to uncertain climate conditions & energy transitions are fueling the weather forecasting solutions & services

PORTLAND, PORTLAND, OR, UNITED STATE, June 19, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, “Weather Forecasting Services Market Reach to USD 4.19 Billion by 2030 | Top Players Such as – AccuWeather, Skymet & Skyview .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global weather forecasting services market size was valued USD 1.63 billion in 2020, and is projected to reach USD 4.19 billion by 2030, registering a CAGR of 10.3% from 2021 to 2030.

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Surge in safety concerns among end-use industries and growth of the aviation & shipping industry drive the growth of the global weather forecasting services market. The market across North America held the largest share in 2020, accounting for nearly two-fifths of the market. The Covid-19 pandemic declined the growth of the market due to surge in adoption of work from home, which hampered the need of weather forecasting for travel purposes.

The weather forecasting services industry is segmented on the basis of forecasting type, end-use industry, and region. On the basis of forecasting type, the market is segmented into short-range forecasting, medium-range forecasting, and long-range forecasting. On the basis of end-use industry, it is classified into transportation, aviation, energy & utilities, banking financial services & insurance (BFSI), agriculture, media, manufacturing, retail, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By end-use industry, the aviation segment dominated the weather forecasting services market in 2020, and is expected to continue its dominance in the coming years, owing to increase in connectivity of aerospace IT infrastructure in the aviation industry. However, the transportation segment is expected to witness growth at the highest rate during the forecast period as security of transport systems can directly influence operational safety and productivity of the industry, and indirectly impact the services.

On the basis of forecasting type, the short-range forecasting segment dominated the weather forecasting services market size in 2020, and is expected to continue its dominance in the coming years, as it is used in various user-specific applications such as aviation, hydrology, disaster management, agriculture, and others. However, the medium-range forecasting segment is expected to witness growth at the highest rate owing to rapid industrialization and continuous growth in sea transport and air travel.

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The global weather forecasting services market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 13.4% during the forecast period.

The global weather forecasting services market report includes an in-depth analysis of the prime market players such as AccuWeather, Inc., BMT Group, ENAV, Fugro, Global Weather Corporation, Met Office, Precision Weather Services, Skymet Weather Services Pvt., Ltd, Skyview Systems Ltd., and The Weather Company.

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Covid-19 Scenario:

● The Covid-19 pandemic declined the growth of the market due to a surge in the adoption of work from home, which reduced the need of weather forecasting for travel purposes.

● However, government organizations is adopting weather forecasting services for improving loss suffered due to natural disasters and pandemic.

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