Weather Forecasting Services Market Application, End-use and Country Outlook By 2030

Weather Forecasting Services Market Growth & Trends

The global weather forecasting services market size is expected to reach USD 4.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2022 to 2030. Many businesses and industries such as aviation, agriculture, marine, transportation and logistics, and renewables are weather-sensitive, requiring highly accurate weather forecasting services and solutions to make decisions and operate efficiently. Climate change has led to more frequent extreme weather events, driving the demand for weather forecasting services worldwide. 

Weather Forecasting Services Market Segmentation

Grand View Research has segmented the global weather forecasting services market based on forecast, organization size, industry, and region:

Based on the Forecast Insights, the market is segmented into Nowcasting, Short-range, Medium-range, Long-range.

• The medium-range segment held the largest revenue share of over 25.0% in 2021 and is anticipated to register the highest CAGR over the forecast period. This is due to the adaptation lead time the forecast provides without affecting the accuracy of the weather forecasts. Medium-range weather forecasts are provided by most service providers worldwide and as per the NOAA SciJinks, a 5-day forecast is 90% accurate and a 7-day forecast is 80% accurate.
• The short-range segment held the second-largest revenue share in 2021 and is expected to register the second-highest CAGR of 6.7% over the forecast period. Short-range weather forecasts are highly accurate and provide a complete set of information to the users such as air temperature, humidity, wind speed, and precipitation amount. The users of this information can take precautions in case of adverse weather conditions and reduce the damage.

Based on the Organization Size Insights, the market is segmented into Large Enterprises and Small & Medium Enterprises.

• The large enterprises segment captured the largest revenue share of over 70.0% in 2021 and is expected to maintain its lead throughout the forecast period. This can be attributed to the size of these enterprises in terms of both revenue and the number of employees. Additionally, these players are early market entrants and invest in research and development to continuously innovate and provide highly accurate weather forecast solutions and insights.
• The small and medium enterprises organization size segment is anticipated to expand at the highest CAGR of 7.0% over the forecast period. The market for weather forecasting services also has numerous small and medium enterprises like U.S.-based Precision Weather Service, U.S.-based Climavision, South Africa-based AfricaWeather (Proprietary) Limited, and U.K.-based Speedwell Weather Ltd.

Based on the Industry Insights, the market is segmented into Agriculture, Aviation, Energy & Utilities, Renewables, Logistics & Transportation, Marine, Retail, Media, Manufacturing, Others.

• The media segment dominated the market and held a revenue share of over 10.0% in 2021. The renewables segment is expected to register the highest CAGR of 7.1% over the forecast period. The growth can be attributed to the growing investments in renewable energy such as solar and wind to reduce greenhouse gas emissions. The renewable energy industry is weather-sensitive as most of its operations are weather dependent. Therefore, as the renewable industry grows, the demand for weather forecasting services is also likely to grow.
• The aviation segment held the second-largest revenue share in 2021. This can be attributed to the demand for weather forecasting services in the industry for safety and operational efficiency. Accurate weather solutions for the aviation industry can help in preventing unnecessary costs and reducing flight delays. Timely and accurate weather data can help in safe and efficient aircraft operations. Strong winds, lightning, and icing can severely impact the aircraft. Many market players provide weather solutions specifically for the aviation industry including U.K.-based Met Office and U.S.-based The Weather Company (IBM).

Weather Forecasting Services Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

• September 2021: DTN partnered with U.S.-based OrbitMi Inc., a Software-as-a-Service (SaaS) company providing data products and maritime software for the shipping industry.

Key Companies Profile & Market Share Insights

The market for weather forecasting services has a fragmented competitive landscape as it features various regional and global market players. Prominent weather forecasting service providers are investing in research & development to provide highly accurate weather forecasts and solutions. Many market players offer weather data and analysis, providing actionable insights to various industries.

Some of the prominent players operating in the global weather forecasting services market include,

• DTN
• Fugro
• AccuWeather, Inc.
• TWC Product & Technology LLC
• Met Office
• StormGeo
• Spire Global, Inc.
• Precision Weather
• The Tomorrow Companies Inc.
• Earth Networks

Order a free sample PDF of the Weather Forecasting Services Market Intelligence Study, published by Grand View Research.