Weather Forecasting Services Market: Size, Share, Trends & Forecast (2024-2029)

The market report offers a detailed analysis segmented by Forecast Type (Nowcast, Short-Range, Medium-Range, Extended-Range, Others); by Purpose (Safety, Operational Efficiency, Others); by End User (Transportation, Aviation, Energy and Utilities, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook

• The weather forecasting services market is estimated to be at USD 2,517.72 Mn in 2024 and is anticipated to reach USD 3,663.33 Mn in 2029. 

• The weather forecasting services market is registering a CAGR of 7.79% during the forecast period of 2024-2029. 

• The global weather forecasting services market is experiencing robust growth due to rising demand for accurate weather predictions, advancements in meteorological technology, and the increasing importance of weather data in various industries. 

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Ecosystem

• The global weather forecasting services industry participants are constantly developing strategies to preserve a competitive advantage. 

• These companies primarily use acquisitions, R&D, partnerships, and technological launches. 

• Several important weather forecasting services market entities include The Weather Co., LLC; DTN LLC; AccuWeather, Inc.; Fugro; Enav Group; and others. 

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Findings

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 2,517.72 Mn
Market Size (2029)	USD 3,663.33 Mn
Growth Rate	7.79% CAGR from 2024 to 2029
Key Segments	Forecast Type (Nowcast, Short-Range, Medium-Range, Extended-Range, Others); Purpose (Safety, Operational Efficiency, Others); End User (Transportation, Aviation, Energy and Utilities, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	The Weather Co., LLC; DTN LLC; AccuWeather, Inc.; Fugro; Enav Group
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	North America

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Trends

• Development of Hyper-Local Weather Forecasting: There is an increasing focus on hyper-local weather forecasting to provide highly accurate and localized weather information. For example, in September 2023, The Weather Company launched a hyper-local forecasting service that uses advanced sensors and data analytics to deliver real-time weather updates at the neighborhood level. 

• Mobile and Cloud-Based Solutions: The adoption of mobile and cloud-based weather forecasting solutions is expanding, offering users easy access to real-time weather information. For example, in October 2023, AccuWeather launched a new cloud-based weather platform that provides personalized weather alerts and forecasts through mobile applications. 

• Artificial Intelligence (AI) and Machine Learning (ML): Integrating artificial intelligence (AI) and machine learning (ML) in weather forecasting enhances predictive accuracy and enables the development of advanced forecasting models. For example, in July 2023, Google AI introduced a new machine learning-based weather prediction model that significantly reduces forecasting errors, reflecting the growing trend towards AI-driven weather forecasting. 

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Catalysts

• Growth in Meteorological Technology: The development of sophisticated weather prediction models and improved satellite and radar technologies is enhancing the accuracy and reliability of weather forecasts. For instance, in June 2023, the European Space Agency launched the Meteosat Third Generation (MTG) satellite, which offers advanced weather monitoring capabilities that significantly improve forecasting accuracy. 

• Expansion of End-User Industries: Industries like agriculture, aviation, and energy depend on weather data to optimize operations and ensure safety. Farmers use forecasts for planting and irrigation, airlines for flight planning and safety, and energy companies to manage production and distribution. 

• Rising Adoption of Data Analytics: Integrating Internet of Things (IoT) devices and big data analytics in weather forecasting enables real-time data collection and analysis. For instance, in January 2024, IBM introduced a new weather analytics platform that leverages IoT and big data to provide hyper-local weather predictions, showcasing the growth toward data-driven weather forecasting. 

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Restraints

• High Cost of Advanced Weather Forecasting Systems: The high cost associated with deploying and maintaining advanced weather forecasting systems can be a significant barrier for many organizations. These systems require substantial investment in sophisticated technology like radar, satellites, and high-performance computing infrastructure. 

• Technical Limitations and Uncertainty: The atmosphere’s dynamic nature and the chaotic interactions among factors like temperature, pressure, and humidity limit model accuracy. Even with sophisticated tools and data, minor errors can lead to significant uncertainties in predictions. 

• Data Privacy and Security Concerns: Ensuring the privacy and security of weather data, particularly when integrated with other data sources, is a critical challenge. For example, in February 2024, the Cybersecurity and Infrastructure Security Agency (CISA) emphasized the need for robust data protection measures in weather forecasting systems to prevent data breaches and ensure data integrity. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Weather Forecasting Services Market (2018 – 2022)         2.2.    Global Weather Forecasting Services Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Weather Forecasting Services Market by Forecast Type                3.1.1.    Nowcast                3.1.2.    Short-Range                3.1.3.    Medium-Range                3.1.4.    Extended-Range                3.1.5.    Others         3.2.    Global Weather Forecasting Services Market by Purpose                3.2.1.    Safety                3.2.2.    Operational Efficiency                3.2.3.    Others         3.3.    Global Weather Forecasting Services Market by End User                3.3.1.    Transportation                3.3.2.    Aviation                3.3.3.    Energy and Utilities                3.3.4.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Weather Forecasting Services Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    The Weather Co., LLC         9.2.    DTN LLC         9.3.    AccuWeather, Inc.         9.4.    Fugro         9.5.    Enav Group         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Weather Forecasting Services Market – FAQs 

1.  What is the current size of the weather forecasting services market? 

Ans. In 2024, the weather forecasting services market size is $2,517.72 Mn. 

2.  Who are the major vendors in the weather forecasting services market?  

Ans. The major vendors in the weather forecasting services market are The Weather Co., LLC; DTN LLC; AccuWeather, Inc.; Fugro; and Enav Group. 

3.  Which segments are covered under the weather forecasting services market segments analysis?  

Ans. The weather forecasting services market report offers in-depth insights into Forecast Type, Purpose, End User, and Geography.