Global Weather Forecasting Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global weather forecasting services market in its upcoming report titled, “Global Weather Forecasting Services Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global weather forecasting services market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global weather forecasting services market report has been segmented on the basis of forecasting type, end-use industry, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Weather forecasting is referred as a combination of science and technology to foresee its atmospheric and environmental condition of a region. It consists of various software to analyze current and future state of weather for a particular region. Weather forecasting is a process of collecting data of atmosphere of a particular location and then processing data using various scientific techniques to predict the change in atmosphere.

Increasing safety and security concerns associated with undesired climate change which can cause damage to life and property, rising need for data integration for weather prediction solutions on real-time basis from aviation industry are major factors expected to drive growth of the global weather forecasting services market. In addition, increasing continuous technological advancements to predict the accurate changes in the atmosphere is another major factor expected to boost growth of the global weather forecasting services market over the forecast period. Moreover, focus on taking proper measures to curb emission of greenhouse gases, coupled with increasing production of renewable and clean energy is expected to further support growth of the market globally.

However, weather forecasting systems are complex and lack of trained professionals to operate these systems is a major factor expected to restrain growth of the global weather forecasting services market. In addition, high cost involved for production and installation of the systems is another major factor expected to hamper growth of the global weather forecasting services market over the forecast period.

Currently, the market in North America is estimated to account for highest share in the global weather forecasting services market in terms of revenue, owing to continuous improvement made in weather stations and satellites in countries in the region. The market in Europe is expected to account for second-highest revenue share in the global weather forecasting services market, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to rapid industrialization and growth of transportation (aviation & shipping) industries in countries in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to witness moderate growth over the forecast period. Revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.

Global weather forecasting services market segmentation:

By forecasting type:

• Short-range forecasting
• Medium-range forecasting
• Long-range forecasting

By end-use industry:

• Shipping
• Aviation
• Energy & utilities
• Banking financial services & insurance (BFSI)
• Others (agriculture, media, manufacturing, retail)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa